Costco Shoppers Should Renew Their Membership ASAP—Here's Why
Costco is finally gearing up to implement its long-anticipated membership fee increase on Sept. 1 after teasing it for over a year and a half. However, Costco members may be able to avoid the new pricier membership for an extra year with a simple step revealed on social media.
Costco announced on July 10 that the annual fee for its basic Gold Star membership tier will go from $60 to $65 in both the United States and Canada, while the fee for the pricier Executive Membership tier with extra perks will go from $120 to $130. The decision has sparked a divided reaction among shoppers, with some saying they weren't all that bothered by the news and others voicing frustration over the hike.
Luckily, a Costco shopper shared how to dodge the higher fees for a little longer on Reddit this week: just renew your memberships before Sept. 1 to continue paying the current annual rate for another year.
The shopper explained that renewing adds an extra 12 months to the membership expiration date, so customers won't have to cut their current yearlong membership period short by renewing early.
"I confirmed by renewing tonight. The fine print on my renewal notice said that the price you pay is the price in effect at the time you pay," the shopper wrote. "So do it before the end of August and avoid the price increase."
The one caveat to this trick is that Costco only allows members to renew their memberships within 90 days of the expiration date, so those whose memberships are slated to expire anytime after late November may be out of luck. But those who enter their renewal period before Sept. 1 can bypass the fee hike for the time being by making sure to renew before it takes effect. Several other Costco shoppers have already successfully saved a few of their hard-earned dollars by using this easy trick.
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"Great tip. My membership renewal was end of September. I was able to log in online and re-up at the current price. Confirmed it bumped another year to my anniversary," a Redditor commented on the post.
"Thanks for the tip! I just saved myself $10!" another said.
Any shoppers looking to renew their memberships can do so on the Costco website or in person during their next warehouse run. Members can also renew over the phone by contacting 1-800-774-2678.
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