Costco Cash Back Rewards: What You Need To Know

Visa®

Two important things happen to me in February. First, it’s the month in which I receive my Costco membership renewal notification, which means I also receive my Executive Membership Costco cash back rewards check. Second, it’s the month I receive the annual cash back rewards from my Costco Anywhereby Citi. While both of these may be described as cash back rewards , they are two separate rebates from very different programs available to Costco members.

Let’s examine, compare, and contrast both programs.

Executive Membership Costco Cash Back Rewards

The standard $60 Gold Star membership gets you in the door to shop at Costco but executive members earn 2% cash back, up to $1000, for qualifying Costco, Costco.com and Costco travel purchases. The executive membership costs an extra $60 for a total of $120.

Two months before your membership renewal date, Costco sends out a renewal notification along with a rebate check for the cash back earned the previous year. This rebate check can be used at Costco registers for the purchase of merchandise. It cannot be used for the purchase of alcohol, tobacco, or at their food court.

An interesting fact some people don’t know is while the Costco Executive Membership rebate check can’t be cashed at your bank, it CAN be cashed at the Costco customer service counter.

Costco Anywhere Visa® Card by Citi

Costco members who have a Costco Anywhere Visa® Card can earn cash back throughout the year by purchasing goods and services using the card. The breakdown of the cash back rewards cardholders can earn is as follows:

4% cash back on gasoline purchases (for the first $7000 per year, 1% thereafter)

3% cash back at eligible restaurant and travel purchases

2% cash back on purchases made at Costco, or Costco.com

1% cash back on other purchases

The rewards come in the form of a voucher with the February statement. As with the executive membership Costco cash back rewards, you can use the voucher at the register to pay for a purchase or you can exchange it for cash at the customer service desk.







Get The Most Cash Back From Your Costco Membership

Recoup Your Executive Membership Fee: To recoup the $60 fee to upgrade to the executive membership, you’ll have to spend $3000 annually at Costco. If your rewards check doesn’t exceed $60, you can go to customer service and receive the difference. This makes upgrading to the executive membership a can’t lose proposition.

To recoup the $60 fee to upgrade to the executive membership, you’ll have to spend $3000 annually at Costco. If your rewards check doesn’t exceed $60, you can go to customer service and receive the difference. This makes upgrading to the executive membership a can’t lose proposition. Use Your Costco Anywhere Visa® : You earn cash back using your Costco Anywhere Visa® . Use it for every purchase possible, earn cash back, and pay the bill as soon as you get home.

You earn cash back using your Costco Anywhere . Use it for every purchase possible, earn cash back, and pay the bill as soon as you get home. Double Up Rewards By Shopping At Costco: Purchase as much of your necessities as possible at Costco using the Costco Anywhere Visa® . You’ll earn the 2% Executive Membership rewards AND the 2% cash back from the credit card cash back program. That’s a total of 4% cash back for everyday items you buy anyway!

Purchase as much of your necessities as possible at Costco using the Costco Anywhere . You’ll earn the 2% Executive Membership rewards AND the 2% cash back from the credit card cash back program. That’s a total of 4% cash back for everyday items you buy anyway! Know What Costco Sells: Consider Costco when you’re looking for computers, small appliances, water heaters, indoor and outdoor furniture, mattresses and even carpeting!

Consider Costco when you’re looking for computers, small appliances, water heaters, indoor and outdoor furniture, mattresses and even carpeting! Don’t Forget Costco.com: Costco warehouses are huge, but they don’t contain everything Costco sells. You may be surprised at what else you can find at Costco.com that can help boost your rewards checks.

Last year I earned an Executive Membership rebate of $64, barely exceeding the $60 membership upgrade cost. It’s just too convenient to stop at the much closer Walmart to pick up necessities. I was much more successful with the Costco Anywhere Visa By Citi cash back, earning $364.

These two programs provide an opportunity to earn cash back simply by changing where I buy my day to day necessities. I’m looking forward to earning as much cash back as possible using my Costco membership next year!

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