We all know that Costco provides a great value for buying things in bulk, but few realize that upgrading to executive membership is a risk-free deal. With executive membership you get a wide range of benefits through third party services, not all of them listed, so let's start tracking all the deals that's available.
The executive membership cost $50 to upgrade and provides 2% Cash Back on Costco purchases. If the 2% CashBack doesn't add up to $50 at end of the year, go to the counter and they'll refund you the difference. This makes the executive membership practically risk free.
Known executive membership benefits: - 2% cash on Costco purchases - Free Auto/Home insurance benefits * Free Roadside Assistance * Home Glass Repair Reimbursement Benefit * Home Lockout Assistance * Lifetime Renewability - Mexico Auto insurance: Extra 10% off - Auto loans: Additional .10% off rates - Boat/RV loans: Extra $50 costco card - Check ordering: Extra 20% off - Identity protection: $2 off monthly - Capital One Banking: Additional $40 when opening account - Trading: Extra 15% transaaction charge rebates - Roadside assistance: 41% off compared to gold member prices - Discount off Business services
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Known executive membership benefits in addition to Gold/Business membership.
- 2% Cash Back on Costco purchases - Free Auto/Home insurance benefits * Free Roadside Assistance * Home Glass Repair Reimbursement Benefit * Home Lockout Assistance * Lifetime Renewability - Check ordering: Extra 20% off - Auto insurance in Mexico: Extra 10% off - Auto loans: Additional .10% off rates - Boat/RV loans: Extra $50 costco card - Identity protection: $2 off monthly - Capital One Banking: Additional $40 when opening account - Trading: Extra $20 when opening. Extra 15% transaction charge rebates - Roadside assistance: Additional 41% off compared to gold member prices - Discount off business services - 15% discount at most dealerships for parts, labor and accessories.
sailwind said:If the 2% CashBack doesn't add up to $50 at end of the year, go to the counter and they'll refund you the difference. This makes the executive membership practically risk free.
is this official or YMMV? I did not see such guarantees on COSTCO web site.
The refund is official. It's part of their satisfaction guarantee which they will refund the executive membership cost at any time less the Cash Back you have received. See this article where people have been successful getting the difference back.
zgenerale said:sailwind said: * Free Roadside Assistance Can you verify the above? Shows from $38.50-$58.50: Cross Country Motor Club through Costco The roadside assistance comes free when you have auto insurance through the Costco Insurance Agency. I had to use it once. I was on hold for an hour waiting for someone, who took my information and said they'd get back to me soon. It was over an hour before the return call, by which time my wife and I had already replaced the tire and driven home! (We mostly wanted help because it was about 20 below outside.
Does anyone have experience with Cross Country Motor Club? I wonder if they run the insurance's free roadside assistance, or do a better job for individually paying customers.
A friend of mine just had granite countertops installed through one of their third party companies and she said the Costco price was the lowest out of any of the quotes she received from other companies.
lineman said:Even better is the Exec Membership of 2% and the AMEX through COSTCO. My last checks were, in February 2008: AMEX - ~430.00 EXEC @ 2% - ~140.00
This February 2009, my Reward through AMEX Costco will be ~564.00, I am expecting the check any day now.
Talk about a Fatwallet! Lineman
Actually the best option is the Costco Business membership along with the Costco Business AMEX. The benefits are the same for the Costco membership as listed in the Executive but the Business AMEX gives back 5% (vs. 3%) on gasoline purchases everywhere except other Store owned gas stations (Sams club like). I know that alone is a big enough savings for me since I can now shop the lowest gas and not have to look for a specific gas station that offers the discount.
I also always buy my tires from Costco. Their upfront cost might be higher than what you can get from other tire places but with Free tire rotation and Balancing it pays for itself if you use it twice since most of my local places wanted $25-$40 for it. Add to the fact that since they are not a full auto place they will not pressure you to buy Stupid wipers and push for oil changes and such.
AMEX Blue is a MUCH better deal, assuming you use your credit card extensively, pay your entire balance at the end of the month, and do most of your shopping in stores other than Costco. Unlike the Costco Business AMEX, there is no annual fee, earn 5% Cash Back at not only gas stations, but supermarkets and drug stores as well. We are just completing our first year, and will receive a credit of almost $1k to our February bill. It also includes AMEX's standard purchase and travel bennies.
Unless you have a reason to buy in bulk, working the grocery forum, coupons and store promotions work out to be MUCH cheaper than Costco for most every day items - and the extra 5% from Blue adds up quickly.
I have a small business and keep the Exec membership for their credit card merchant account. Will now know to ask for the refund, as we don't buy much at Costco.
shank said:AMEX Blue is a MUCH better deal, assuming you use your credit card extensively, pay your entire balance at the end of the month, and do most of your shopping in stores other than Costco. Unlike the Costco Business AMEX, there is no annual fee, I don't disagree with your comments on BLUE ...BUT for me, anyway, THERE IS NO ANNUAL FEE on the Costco Business card.... I also appreciate the 3% back on restaurant meals on the Costco Bus Card.
Costco Business AMEX has no annual fee. When shopping at Costco you really should be using the Fidelity AMEX card for 2% Cash Back. AMEX Blue is good but the $6500 tiered thing annoys the heck out of me. This is what I do:
- Gas/restaurants: Costco Business AMEX (5% gas, 3% food) - Supermarkets: Chase Rewards (5% supermarket/drugstores/gas) - Amazon: Amazon visa (6% Amazon purchases, stays at home) - Phone/Utilities: Citi homerebate (6% cell phone, home phone, internet, cable, dish, utilities, stays at home) - Costco: Fidelity AMEX (2%) - Everythingelse: Schwab Visa (2% everything)
Getting rid of my Business AMEX this week. I've been holding it @ 0 just so I can get my rebate this month. 5% Cash Back on gas was a good deal, but they are STILL American Express, and I don't care for the way they do business.
Getting rid of my Costco Business AMEX this week. I've been holding it @ 0 just so I can get my rebate this month. 5% Cash Back on gas was a good deal, but they are STILL American Express, and I don't care for the way they do business.
kirak said:Getting rid of my Costco Business AMEX this week. I've been holding it @ 0 just so I can get my rebate this month. 5% Cash Back on gas was a good deal, but they are STILL American Express, and I don't care for the way they do business.
You are in the minority from what I can see and read on most of the forums. AMEX has been a Godsend for most people on FW and for that matter savvy customers with their coverage’s and benefits:
They used to do internet price matching where AMEX would refund you the price diff upto $250 (This benefit has stopped) They double warranties on products or add 1 year whichever is smaller - This benefit has saved me hundreds from Cameras, scanners, TVs, phones, shredders... Their dispute center has most of the times been very fair in my favor rather than siding with the merchant vs. other cards who take long and often times make the dispute process cumbersome. Many other benefits.
Did not realize that the Costco Biz AMEX was free, since we use Blue for personal purchases, and I use a Hilton HHonors Platinum AMEX for business. I typically spend 4 - 7 nights per month in a hotel, generally stay in Hamptons, and accumulate enough points for at least one free week at Hilton resort property - worth well over $1000 or more. http://hhonors1.hilton.com/en_US/hh/about/creditamex.do. There are no blackout dates, award limitations, and never had any issues getting a room at properties like the Hilton Waikoloa Village (Big Island, HI) or Hilton Papagayo Resort (Costa Rica). 5 HHonors bonus points for every U.S. dollar (or U.S. dollar equivalent) charged at participating Hilton Family hotels (less returns). 5 HHonors bonus points for every dollar charged at grocery stores, drugstores, gas stations, restaurants, U.S. postal service, and for wireless phone bills 3 HHonors bonus points elsewhere. In addition, I get 500 HHonors bonus points for every hotel stay booked any Hilton Family website and charged to my Hilton HHonors Platinum Credit Card. I have enough nights to reach Diamond VIP status, but they offer HHonors Gold VIP for one year when you make eligible charges of $20,000 in a calendar year.
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