If You're Not Taking Advantage of These 4 Costco Benefits, You're Missing Out Big Time

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It's hardly a secret that shopping at Costco often means getting to save money on everyday purchases like groceries, tissues, and cleaning products. But the benefits of a Costco membership extend well beyond low-cost meat, cheese, produce, and paper products. Here are some less obvious Costco benefits you may not be taking advantage of.

1. Discounted gift cards

When you need a way to wish a friend a happy birthday or thank one of your children's teachers for their patience, a gift card is a great option. It's classier than stuffing cash in an envelope, and it's easier than having to pick out an actual item that may or may not be well-received.

The great thing about buying gift cards at Costco is that you'll get to pay a price that's below their face value. The result? Automatic savings.

As one example, right now, Costco has $100 worth of TGI Friday's gift cards available for $79.99. At a regular store, you'd pay $100, but here, you're saving $20. So whether you're giving these particular cards out as gifts or using them yourself, either way, you're getting a deal.

2. Inexpensive sheet cakes for a crowd

Throwing a party, whether it's your child's birthday or your father's retirement, can get expensive when you're feeding a lot of people. And you may be shocked at the cost of buying a large-sized cake from a local bakery.

A better bet? Turn to Costco when you need a giant cake. A half-sheet cake costs just $24.99 at Costco and can easily feed several dozen people.

The only catch is that if you want a half-sheet cake at Costco, you need to go in and order it in person 48 hours in advance. But Costco's bakery will let you customize that cake at no extra charge. And this system also guarantees you a cake that's fresh, as opposed to one that was baked four days ago.

3. Tires with free lifetime maintenance

Tires are the sort of thing you're going to have to replace eventually. But getting your next set at Costco could mean getting a great deal.

First of all, there's a limited-time deal this month that'll shave $60 to $90 off of the cost of four Bridgestone tires. And Costco tire purchases also come with free lifetime maintenance, including a five-year road hazard warranty, rotations, pressure checks, and flat repairs.

Plus, if you ever need air for your tires, you can get it for free at Costco -- whether you purchase your tires there or not.

4. Cash back on your Costco purchases

An Executive membership at Costco costs double what a basic (Gold Star) membership does. Right now, you'll pay $120 vs. $60 annually, though come September, an Executive membership will cost $130 while a basic one will only cost $65.

But there's a huge perk you can enjoy when you upgrade your membership -- 2% cash back on your Costco purchases. And if your annual Costco spending goes above $3,250, opting for the Executive membership is an obvious win, because you'll gain financially.

At 2% back, it takes exactly $3,250 to recoup the extra $65 it will cost to upgrade to an Executive membership starting in September. But any dollar you spend beyond that point puts money in your pocket. So if you're a regular Costco shopper, it pays to consider the upgrade.

These are only some of the benefits a Costco membership gives you. It pays to read up on the perks of joining or sticking with Costco, so you can truly get your money's worth.

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