If you're a Costco member, it's going to cost you more to shop at the popular warehouse club.
Costco announced this week that it's raising its membership fees by 10 percent next month -- just as the holiday shopping season begins.
Starting Nov. 1, new members will pay $55 for a Gold Star individual membership to shop at the warehouse club for one year. An individual membership previously cost $50. Business members will also pay $5 more annually.
Current members will have to pay the higher fee when their memberships come up for renewal.
Executive-level members, who earn rewards on their purchases, will pay a $110 annual fee, a $10 increase. However, those members will see their rewards limit increased from $500 to $750.
Although the increase is the first in five years, it does make Costco the most expensive to join among the warehouse clubs. BJ's members pay $50 annually while Sam's Club members pay $40 for a basic household membership.
Are you a Costco member? Will the extra $5 make a difference in your decision to renew?
Comments
I'll keep my Costco membership
Fri, 10/07/2011 - 21:26 — thurvitzI was a Sam's Club member in Asheville before moving here. Sam's was very pleasant there - not remotely so here.
Once that membership was up I checked out BJ's and Costco. I went with Costco and have been more than satisfied. The selection is terrific, service even better and savings on gas and perscriptions alone make the membership pay for itself. Even in a two person household where we use minimal processed ingredients, we still are able to have much of our grocery needs filled at Costco.
I don't begrudge them the increase. I still feel like I will benefit when I renew!
I love Costco!
Fri, 10/07/2011 - 08:55 — MEBMEBI am a loyal Costco shopper. I have the Executive Level Membership and I get my membership fees back in the rewards check each year. In my opinion, Costco is far superior to BJ's and Sam's Club. The quality of merchancdise, efficient employees, and excellent customer service are three of the main reasons I shop there each week. Returns are truly hassle free. The seasonal or one time only merchandise can be a great deal but you better purchase it when you see it or it may not be there next time! While the membership fees might be slightly higher, the customer satisfaction is well worth it.