If you are a Costco member or planning to become one, go for the executive membership. Normal membership costs you $50 and the executive membership costs you $100. So, why am I asking you to take the executive membership ? There are many advantages and the effective extra cost when compared to normal membership is actually zero.
Let me explain. Normal membership costs you $50. But you will get no rebate. Executive membership costs an extra $50. But you will have 2% annual reward on all Costco purchases. And the best part is that if you earn a reward that is less than the $50 that you paid for the upgrade, they will give you the remaining amount.
That means that if you are a heavy user, you might earn up to $500 in rebates. But, if you are not a heavy user, you will get your $50 that you paid for the upgrade back. How cool an offer is that ? This rule is not written anywhere and it not published on their site. But they do follow it. I got an annual rebate that is less than $20 and they paid the remaining amount ($50 – my rebate) to me yesterday.
And then there are special offers for the executive members that you can avail. You will get special rates for home and auto insurance from Ameriprise, you will get special discounts for some Costco services and more.
Although you are paying the $50 extra upfront, you will enjoy all the extra benefits of the executive members and if you don’t get to earn enough rewards, you will get your money back.
Hope this information helps you decide on which membership you want to take :)
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