Costco Is Raising Membership Fees in September

While many popular grocery stores like Aldi and Trader Joe’s hold a price promise to keep their products budget-friendly for consumers, other chains like BJ’s, Sam’s Club and Costco Wholesale rely on memberships to provide bulk products at great prices. But there’s no “promise” that these membership prices stay the same with time.

Costco just announced that for the first time in seven years, the chain will be bumping up the prices on their membership fees.

This membership fee increase will affect shoppers internationally, including U.S. and Canadian shoppers with a Gold Star, Business or Executive membership. The yearly cost will shift from $60 to $65 for Gold Star and Business members, and from $120 to $130 for Executive members. This increase is expected to affect around 52 million memberships internationally. Alongside this, the Executive membership 2% reward will go up from $1,000 to $1,250 per year.

This price jump was shared last week to members and will be in full effect starting September 1. You’re reading that correctly: in less than two months, membership prices will be adjusting to the newly reported higher values. Customers are taking to social media to share their thoughts on the change.

“I hear Costco fees will be increasing,” one shopper wrote on a recent Costco Instagram post. “I wish your quality would also increase, lately it’s been hit and miss.”

“We are not renewing our Costco membership,” a Reddit user wrote on a thread discussing the news. “We get much better values at Sam’s Club and they have scan and go.” In comparison, an annual membership at Sam’s Club is $50 a year for a Club membership and $110 a year for a Plus membership. 

On the same Reddit thread, there are some customers that feel indifferent about the rising costs, considering that grocery prices have at least been consistent in the store.

“As long as they don’t change the price on that $1.50 hot dog and soda, I’m fine,” one shopper wrote.

Is keeping a Costco membership when September hits worth it? That’s up to the consumer. If you’re sticking with the store, we suggest renewing your membership by the end of August to benefit from the old price for one more year.