for more than a year and a half, Costco has finally announced when the long-anticipated price increase will take effect.
On Sept. 1, the annual fee for Costco's basic Gold Star membership tier will go up from $60 to $65, while the fee for the higher Executive membership tier will increase from $120 to $130. The change is slated to roll out in both the United States and Canada."The fee increases will impact around 52 million memberships, a little over half of which are Executive," Costco said in a
One key perk of the pricier Executive membership is an annual 2% reward on qualifying Costco purchases. Due to the fee hike, Costco will raise the maximum reward Executive members can earn from $1,000 to $1,250.The upcoming fee increase will be the first since 2017, when the Gold Star membership went from $55 to $60 and the Executive membership went from $110 to $120..
"We are still evaluating those considerations to determine what the right timing is. And when we reach that point where we feel it is the right time, of course, we'll be very open and direct in communicating that," Costco CFO Gary said during a Mayamong consumers lately, so it should come as no surprise that some Costco members were frustrated by the fee hike news.
"It's a nominal hike and they've held the line for a while. It's good for the company and does very little harm to the consumer ," a customerZoe Strozewski is a News Writer for Eat This, Not That! A Chicago native who now lives in New Jersey, she graduated from Kean University in 2020 with a bachelor’s degree in journalism.10 Popular K-Cup Coffee Brands, Tasted & Ranked