Shopping Discussion

Costco EXECUTIVE membership - questions

  • Last Updated:
  • Oct 25th, 2019 1:53 pm
[OP]
Deal Fanatic
Oct 7, 2007
8397 posts
4358 upvotes

Costco EXECUTIVE membership - questions

When I signed up for my Costco membership, the Costco person told me that I should sign up for the EXECUTIVE membership because I get 2% cashback (in the form of a Costco coupon) annually and that if my cashback didn't "pay" for the additional cost of the membership, that I would automatically receive a refund for the difference.

1. I received a "cashback" coupon 2 months before my membership expires for $24.00. This would suggest I should receive a refund in the amount equivalent to the COST of the PREMIUM to upgrade to the EXECUTIVE membership LESS the $24.00 cashback. Can anyone please tell me how the refund works and when I should expect it?

2. Because my membership has not yet expired, do I still qualify for 2% cashback from now until my membership expires in the next 6 weeks or am I no longer earning any cashback during this period should I downgrade to a regular membership at the time my membership expires in six weeks' time?

Any information you can provide to assist would be most appreciated.

Thanks.
14 replies
Deal Fanatic
Nov 22, 2015
5781 posts
5284 upvotes
Jon Lai wrote: You have to go to customer service and request for the refund.
This. Also bring your $24 cashback coupon.

OP: none of the stuff you mentioned is automatic, or even an official policy. Just a sales tactic that some of the membership sales reps use. Technically, they don't have any policy regarding membership downgrades, and this procedure is done by exception only.
Deal Addict
User avatar
Apr 2, 2010
2158 posts
1669 upvotes
GTA
I dislike dishonest sales, if I were you I would cancel the membership outright. I assume you can always sign up later.
Sr. Member
User avatar
May 31, 2018
684 posts
1591 upvotes
Saskatchewan
We just make the cut to pay for the executive membership every year it seems, but it’s well worth having just to not be bothered by the annoying salespeople.
Deal Addict
Jul 28, 2012
1025 posts
445 upvotes
Trois-Rivières, QC
Whenever I get asked about Executive, I simply say that I don't shop at Costco often enough for the Executive level to be worth it. Period.

Or perhaps the reps at my local Costco are not that pushy.
[OP]
Deal Fanatic
Oct 7, 2007
8397 posts
4358 upvotes
Thanks everyone.

Also, does anyone know the answer to this:

Because my membership has not yet expired but they have sent me my 2% cashback coupon for the first 10.5 months of my membership, do I still qualify for 2% cashback from now until my membership expires in the next 6 weeks or am I no longer earning any cashback during this period should I downgrade to a regular membership at the time my membership expires in six weeks' time?
Deal Expert
Aug 22, 2011
35630 posts
21687 upvotes
Center of Universe
choclover wrote: Thanks everyone.

Also, does anyone know the answer to this:

Because my membership has not yet expired but they have sent me my 2% cashback coupon for the first 10.5 months of my membership, do I still qualify for 2% cashback from now until my membership expires in the next 6 weeks or am I no longer earning any cashback during this period should I downgrade to a regular membership at the time my membership expires in six weeks' time?
Once you downgrade, you're no longer earning the 2%.
[OP]
Deal Fanatic
Oct 7, 2007
8397 posts
4358 upvotes
vkizzle wrote: Once you downgrade, you're no longer earning the 2%.
So am I earning the 2% between the time I get my cashback coupon and my renewal time? I was thinking of buying some Costco cash cards at the 2% cashback rate but am doubting that I will get credit for these if it occurs in the time between when they sent me the coupon and the renewal date.
Deal Addict
Sep 7, 2004
1595 posts
593 upvotes
Toronto
choclover wrote: So am I earning the 2% between the time I get my cashback coupon and my renewal time? I was thinking of buying some Costco cash cards at the 2% cashback rate but am doubting that I will get credit for these if it occurs in the time between when they sent me the coupon and the renewal date.
Gift cards do not qualify for the 2% cashback.
Sr. Member
User avatar
Oct 2, 2018
544 posts
404 upvotes
Toronto
It's fairly clear that you don't benefit for the executive membership so dropping to the standard is the right option for your needs.
Youth is the gift of nature, while age is a work of art.
[OP]
Deal Fanatic
Oct 7, 2007
8397 posts
4358 upvotes
gqbluez wrote: Gift cards do not qualify for the 2% cashback.
Thanks for the info. I would hate to make such a purchase only to be disappointed with no cashback.

A couple of years ago I was purchasing $500 worth of Costco gift cards at the checkout and the clerk was trying to sell me an upgrade to Executive at that time telling me that I would get 2% on the sizeable purchase. I declined at the time because I didn't want to pay the premium. I wonder now if he was mistaken or if they changed their policy since then.
Deal Expert
Aug 2, 2004
33739 posts
7373 upvotes
East Gwillimbury
choclover wrote: Because my membership has not yet expired but they have sent me my 2% cashback coupon for the first 10.5 months of my membership, do I still qualify for 2% cashback from now until my membership expires in the next 6 weeks or am I no longer earning any cashback during this period should I downgrade to a regular membership at the time my membership expires in six weeks' time?
You get the 2% whenever you use the card. There is no blackout period.

You're still earning cash back.

For me, the Executive Membership is worth it. You just have to learn how to shift your spending to Costco. If you are single then you probably don't need a Costco membership. Just find a friend and go with them. But if you have a family, it is worth it.
Deal Expert
Feb 7, 2017
16255 posts
13555 upvotes
Eastern Ontario
There have been plenty of past topics on Costco here on the RFD SHOPPING FORUM

Many of them addressing issues you are now asking

Here are a few you might benefit from over the past year or so:

Costco Exec Membership = costco-executive-membership-questions-2286923/

Costco Exec Rewards If You Don’t Renew = costco-what-happens-accumulated-executi ... ew-2296376

Living Without Costco = living-without-costco-card-2300398/

PS ... All the RFD FORUMS are SEARCHABLE
Look for the various SEARCH BOXES at tops of Directories, as well as when you are inside a Topic
Deal Expert
Aug 22, 2006
27311 posts
13016 upvotes
airodyssey wrote: Whenever I get asked about Executive, I simply say that I don't shop at Costco often enough for the Executive level to be worth it. Period.

Or perhaps the reps at my local Costco are not that pushy.
They are pushy sometimes and ask to scan your membership to see your actual purchase totals.

Top