Want to Join Costco? Act Fast to Lock in Current Membership Rates

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If you're sick of the rising prices of everyday goods, you're not alone. Taking advantage of opportunities to score extra discounts can help you feel less financial strain. One way to shop the best deals is to join a warehouse club.

One popular choice is Costco . The retailer has over 800 clubs around the world. If you've been considering joining Costco, you may want to do so before membership prices increase later this fall. Here's what you need to know.

It'll soon cost more to be a Costco member

A couple of weeks ago, Costco announced it would increase membership fees by $5 and $10 per year starting on Sept. 1, 2024. While that's not a huge price increase, it's something to be aware of because every price hike impacts your wallet.

The good news is that you can join Costco before membership costs increase. If you join before September, you'll pay $60 or $120 for your first year of membership (joining on Sept. 1 or after will cost you $65 or $130).

By becoming a member within the next few weeks, you can lock in current rates and save a few dollars. This will also allow you to start shopping for Costco discounts sooner. Many members who join continue to renew year after year because of the money they save.

What if you're up for renewal?

If you're an existing member aware of the upcoming price hikes, you may wonder if you can renew your membership before September to lock in the current rates.

According to the Costco website, active memberships can be renewed up to 90 days before expiration. That means if your existing Costco membership expires during November or sooner, you can renew before Sept. 1, 2024, to avoid paying the new, higher fee. You can renew online, by mail, by phone, or in person at your local club.

Is a Costco membership still worth it?

You may wonder if a Costco membership is still worth it. As long as you get value from the discounts offered and use the benefits provided, it's likely well worth it to be a member, despite the $5 to $10 annual fee increase. For most people, the increases will barely be noticeable.

Before joining or renewing, it's a good idea to carefully review the membership perks to ensure you know what benefits are included with a Costco membership. You may not realize all the benefits available to Costco members.

If you're new to Costco, you can browse the retailer's website or mobile app to get a feel for what products are sold there. Doing this may help you decide whether you'll get good value from having a membership card in your wallet.

Don't miss out on rewards opportunities

Shopping warehouse club discounts can help you stay on budget. It's also a good strategy to take advantage of opportunities to earn rewards when shopping. Our No. 1 tip to save money at Costco is to use a rewards credit card at checkout.

You can earn cash back rewards when you stock up on essentials. Once you redeem your rewards, it'll be like getting an even bigger discount. Check out our list of the best credit cards for Costco to learn how to maximize your total savings by earning credit card rewards.

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