Executive Membership 2% Rewards: Top Consumer Questions

The Executive Membership is the highest form of membership at Costco. It usually costs double the Gold Standard and is currently priced at $110 annually.

One of the biggest benefit of the membership is that you can get a 2% rebate on qualified purchases and if you make purchases of at least $5,500, you are essentially recovering the full membership fee, thus, technically getting the Costco Membership for free. This was mentioned as one of the ways on how you can get free membership at Costco.

In addition, Executive Members can avail lower prices on services such as check printing, auto buying, one-year free roadside assistance for vehicles covered through the Auto Insurance program and additional travel benefits. Executive Members also receive a monthly edition of The Costco Connection magazine.

Is there a limit on the amount of the rewards?

Yes, the rewards amount is limited to only $750 per 12-month membership period. So, you will no longer receive a rebate on anything over $37,500 of qualified purchases.

What happens if I downgrade back to Gold Star after trying the Executive Membership?

Costco allows you to try the Executive Membership at no risk to you if you want to upgrade from a Gold Star membership. If it does not work for you, you can downgrade and get a refund of the difference of your 2% Reward and the amount you paid for your Executive upgrade fee. For example, if you receive a rebate of $20 from the Executive Membership, Costco will refund you ONLY $35 ($55-$20) and not the whole $55 upgrade fee if you wish to downgrade back to the Gold Star membership.

What purchases qualify for the rebate?

The purchases that qualify for the rebate are basically anything you purchase at the front-end registers at Costco Warehouses,, with the exceptions listed next, and Costco.com.

Pharmacy and over-the-counter medicines apply to the 2% Reward. However, only the amount not covered by insurance (co-payment/deductible) is calculated as part of the 2% Reward.

Purchase of tires qualifies but not the installation, balancing and disposable fees.

Purchase of bottled and canned drinks/beverages but not the bottle deposit/recycling fee such as the CRV or California recycling value.

What purchases do not qualify for the rebate?

The following items do not qualify towards the 2% rewards

  • Selected Front-End Register Purchased Items – This include cigarettes, tobacco-related products, postage stamps, alcoholic beverages in certain states (including Alabama, Georgia, Kentucky, Ohio, and Michigan),
  • All Non Front-End Register Purchases – This includes Costco food court purchases and gasoline.
  • Membership Related – This includes payment for membership fees, purchases of the Costco Cash Card, and purchases made by anyone other than the account’s primary or household cardholder.
  • Transactions done through websites not hosted by Costco even if accessed through Costco.com – This includes  all business, consumer, and insurance services, the online photo center, Costco Travel, and the My Publisher website.
  • Others –  This includes miscellaneous fees, donation to charities done at the registers, optical exams, deposits and taxes, including sales tax, shipping fees at Costco.com; where prohibited by law or regulation;  on certain other categories as determined at Costco’s discretion, which may change without notice.

When do I receive the rewards certificate?

The Reward certificate is mailed with the Executive Member’s annual renewal notice. Rewards totaling less than $1 will not be sent.

How do I  use the rewards?

Unlike credit card rewards where you can use it at various selected stores, the executive membership rebate can ONLY be used at the Costco local warehouses.

Using the rewards has the same limitations as the qualified purchases described previously. This means you cannot use the rewards for alcohol, cigarettes or tobacco-related products, gasoline, and food courts. Also, you cannot use it as payment on Costco Credit Card accounts, and purchases of third party services such as travel, auto, insurance, business services, etc.

Although some purchases at Costco.com qualify for the rebate, the rebate itself cannot be use if you are purchasing at Costco.com.

What happens if I lose or someone steals my Rewards Certificate?

Unfortunately, reward certificates will not be replaced if lost or stolen.

Do I get both the Costco Anywhere VISA Card CITI and Executive Membership Rebates?

If you have both the Costco Anywhere VISA Card by CITI and the Executive Membership, you can have both the rebates; it is not either or since these are two separate offers. So technically, you are getting more rebates for the same purchases you made at Costco.

For qualified purchases, Costco Anywhere VISA Citi card gives you 2% and Executive Membership gives you 2%. In addition, you can get a 4% rebate on gasoline with the Costco Anywhere VISA while Executive Membership does not give you any rebate at all (see the restrictions previously). There are no limitations on how you’ll get rebates from Costco-Anywhere since you can still get rebates even if you use it outside of Costco.

Usually, the Costco Amex rebates are sent in February while the Executive Membership reward certificates are sent around the anniversary date of your membership.

Reference:

For additional or the most current information, please visit Costco.com Rewards section.

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