3 Things You May Not Know About a Costco Executive Membership

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Costco offers two types of personal membership: the Gold Star and the Executive. While the Gold Star costs half that of the Executive membership, more than half of all members opt for the more expensive option. Beyond simply being able to shop at the warehouse and access discounted merchandise, this level of membership comes with a few perks that may shift your decision toward the Executive membership, too.

Here are three lesser-known -- but valuable -- Costco Executive membership perks you may not be aware of.

1. You can save on pet insurance costs

With the Executive membership, you can qualify for savings on pet insurance (beyond those that are offered to Gold Star members).

For example, you'd get both a 15% discount on the cost of a Figo pet insurance policy as well as a waiver for the $15 enrollment fee. For context, the average cost of a pet insurance policy is about $10 to $56 per month depending on the pet species and coverage level, per the latest data from the North American Pet Health Insurance Association.

Aside from avoiding the $15 enrollment fee, the 15% discount could translate to savings of up to about $100 every year.

2. Travel purchases count toward your annual reward

The 2% annual reward is a big draw that comes with the Executive membership, but that doesn't just apply to your regular Costco shopping trips. If you spend money through Costco Travel, those purchases can also count toward your reward. For example, if you were to spend $5,000 on a trip via Costco Travel, you could get up to $100 back via the rewards program.

For those who are unfamiliar, Costco Travel offers members access to packages, hotels, rental cars, and cruises. You can find an estimate of your 2% reward by logging into your Costco account online, assuming you're the primary cardholder. And you can maximize your Costco spending with one of the best credit cards for Costco to earn additional cash back or rewards.

Keep in mind, however, that the 2% reward is subject to a cap of $1,250 per year.

3. The membership cost can change from year to year

The cost of any membership is often subject to change at the discretion of the company that offers it. The Costco Executive membership is no exception. In fact, as of Sept. 1, Costco raised the annual price from $120 to $130.

That isn't a major increase, but it's important to be aware of these types of changes to ensure you're still getting the rewards that justify the new cost. And here, the $10 increase also comes along with a $50 increase in the maximum annual 2% reward. For many, this membership level will still be well worth the extra upfront cost.

Costco offers significant savings opportunities for some shoppers. And if you're willing to spring for the higher-priced Executive membership, you may get even more value. The key is making sure you'll get your money's worth based on your existing spending habits.

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