Costco Offers Executive Members A New Shopping Perk

Executive members of Costco will gain more flexibility in terms of when they can shop in-store. The retailer recently announced it will extend hours for its executive members, opening doors at 9 a.m. every day.

The policy began on June 30. However, Costco gave a grace period before enforcing the new rule. This gave shoppers of both memberships a chance to try out the new store hours.

That grace period came to an end. Costco announced that on September 1, the early extra shopping hour will only apply to Executive members moving forward.

From just $107.88 $24.99 for Kiplinger Personal Finance

Become a smarter, better informed investor. Subscribe from just ~~$107.88~~ $24.99, plus get up to 4 Special Issues

CLICK FOR FREE ISSUE

https://cdn.mos.cms.futurecdn.net/flexiimages/y99mlvgqmn1763972420.png

Sign up for Kiplinger’s Free Newsletters

Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.

Profit and prosper with the best of expert advice - straight to your e-mail.

This gives Executive members a calmer shopping experience. On top of this, another perk of an Executive membership is that you can earn a $10 monthly credit when placing orders exceeding $150 through Instacart or Costco’s “Same-day” service.

And if that isn't enough to sweeten the pot, Costco will extend Saturday hours for all members, closing at 7 p.m.

Executive membership costs and perks

Costco has two membership options. The Gold Star membership is $65 annually. It entitles you to two shopper cards you can use at any warehouse location or for purchases through Costco’s website.

Overall, it's a great way to test out different services. From shopping in-store to using Costco Travel, saving at the pump or on prescriptions, it's an affordable way to see how much you'll use the membership.

Best of all, you can always upgrade to the Executive Membership either online or in-store.

Speaking of the Executive Membership, it will run you $130 annually, but it comes with a few perks you won’t have with the Gold Star membership. And if you sign up for a limited time, you’ll receive a $40 shop card.

Along with earlier store access, this membership rewards you for the purchases you make with 2% cash back, up to $1,250 annually.

Is the executive membership worth it?

It depends on how much you plan to use Costco’s services. Per CNBC, you would need to spend at least $3,250 per year to recoup the higher membership cost.

However, there are other ways to reach this threshold. Along with in-store and online transactions, Costco Travel purchases also qualify.

Costco Travel is an all-in-one hub, allowing you to book every aspect of your vacations from flights to rental cars to hotels. They also have limited-time deals, where you can score a free night at resorts in Hawaii or Cancun.

Along with cost savings related to your vacation, you'll also earn 2% back on every travel-related purchase. Thus, helping you reach that threshold much faster.

The bottom line on Costco's new policy

Costco is rewarding its executive members with earlier store access at 9 a.m. and cash back incentives when spending more than $150 on Instacart or “Same-day” service.

However, given the price of this membership is double the Gold Star one, you’ll want to determine if you use Costco enough to warrant the extra cost.

Sean is a veteran personal finance writer, with over 10 years of experience. He's written finance guides on insurance, savings, travel and more for CNET, Bankrate and GOBankingRates.