Costco Membership Fee Hike Looms but Savvy Shoppers Share Trick to Dodge the Increase

Clear Facts

• Costco is implementing a membership fee increase on Sept. 1, raising the annual fee of the Gold Star membership from $60 to $65, and the Executive Membership fee from $120 to $130
• A resourceful Costco shopper divulged on social media that members could sidestep the fee increase for an additional year by renewing their memberships before Sept. 1
• Costco members are permitted to renew their memberships within 90 days of the expiration date, restricting this renewal strategy for those whose memberships expire after late November

After much anticipation, Costco has officially declared Sept. 1 as the date for their membership fee increase. Members of the renowned warehouse club will witness their annual Gold Star membership elevate from $60 to $65, and the Executive Membership fee from $120 to $130.

Members have given mixed reactions, with some showing indifference and others expressing displeasure over the fee increment. However, a smart Costco shopper shared a nifty trick on Reddit this week, providing members a method to evade the heightened fees for an extra year. The solution is to renew memberships before Sept. 1 to retain the existing annual rate for another year.

The Reddit user clarified that early renewal essentially propels the membership expiration date by an additional 12 months, avoiding the need to cut short their current yearly membership.

“I verified this by renewing tonight. The fine print on my renewal notice mentioned that the price you pay reflects the price in effect when you pay,” the shopper reported. “So do it before the end of August to escape the price increase.”

Nevertheless, there’s a minor caveat to this cost-saving tactic. Costco permits members to renew their memberships only within 90 days of the expiration date. As a result, those with memberships expiring after late November might not be able to leverage this loophole. Yet, members who are eligible for renewal before Sept. 1 can avert the imminent fee increase by ensuring to renew before it takes into effect.

“My membership renewal was the end of September. I was able to log in online and re-up at the current price. Confirmed it extended another year to my anniversary,” another Redditor shared on the thread.

Yet another happy member expressed gratitude, “Thanks for the tip! I just saved myself $10!”

Members who wish to renew their Costco memberships can do so online via the Costco website, during their subsequent warehouse visit, or telephonically by dialing 1-800-774-2678. This clever trick has already helped some members preserve their hard-earned money, and it holds the capability to aid many more before the Sept. 1 fee increase.

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