Shopping Discussion

[COSTCO] What happens to the accumulated executive rewards if I don't renew?

  • Last Updated:
  • Jul 8th, 2019 12:57 am
[OP]
Member
Jan 19, 2018
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[COSTCO] What happens to the accumulated executive rewards if I don't renew?

I signed up for the Costco executive membership last summer and got my rebate check this April (I think) for about $43. My membership expires at the end of July and I have still about $9 in accumulated rewards. In any case I think the executive membership is not for me. I'm weighing two options and wondering if there's any difference between the scenarios:

1. Don't renew and let my membership expire
2. Downgrade to regular membership

In both scenarios I assume I will lose the $9 accumulated rewards. In both cases, will Costco refund me $17 to make me whole (difference between executive membership upgrade and rebate)?
7 replies
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Oct 24, 2016
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I was in the same situation a few years ago and downgraded to regular membership. Received the balance rebate amount in post within a few weeks.
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bobohobo2kx wrote:
Jul 6th, 2019 10:30 pm
I signed up for the Costco executive membership last summer and got my rebate check this April (I think) for about $43. My membership expires at the end of July and I have still about $9 in accumulated rewards. In any case I think the executive membership is not for me. I'm weighing two options and wondering if there's any difference between the scenarios:

1. Don't renew and let my membership expire
2. Downgrade to regular membership

In both scenarios I assume I will lose the $9 accumulated rewards. In both cases, will Costco refund me $17 to make me whole (difference between executive membership upgrade and rebate)?
What did they tell you in the store when you asked them?

I guess you have to decide if Costco is for you, or if it's just the executive membership that isn't for you. That will help you decide.which of the two options you can choose upon renewal.
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Feb 7, 2017
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Costco’s Exec Membership runs for a full year
Earning you the 2% Reward the whole 12 months

The confusion lies in the fact that Cheque’s are issued at the same time as Renewal Notices
Around month 9 or 10

If you continue as an Exec Member for another year
That money is rolled over into your next Renewal Notice + Rewards Cheque

If you don’t renew as an Exec, but take a Regular Membership on your Anniversary Date
They’ll still give you the balance for those 3 months

Same thing I think happens if you just don’t bother to Renew at all after your Anniversary Date lapses

Where it gets tricky is if you CANCEL your Membership
Between Month 9 and your 12th Month Anniversary Date
To be honest ... not sure what happens then.

Honestly don’t know why anyone would cancel out entirely
We are strategic shoppers ... and still we make back a basic membership with very little trouble considering JUST A HANDFUL of items we buy regularly that are waaaay cheaper there than anywheres else

Like Gasoline (significantly less per litre than anywhere else)
Propane (about half price)
Coffee Cream (Anywhere from $ 0.50 cents cheaper, to several dollars)
Gift Cards (20% Off stated price / value)
And tons of other items
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You can always cash out your executive rewards, even if you are a current member.
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PointsHubby wrote:
Jul 6th, 2019 10:44 pm
Honestly don’t know why anyone would cancel out entirely
a) Because the size of some food items doesn't make any sense for a normal single individual and often for couples too.
b) Because more often than not savvy shoppers can beat the prices at Costco.
c) Because going to Costco sometimes feels like going to a zoo.
d) Because not everyone lives within a reasonable driving distance to a store. And some are smart enough to calculate the cost of gas to travel to a store.
e) Because not everyone uses Costco's loss leaders like propane, occasional cheaper gasoline and cheap hot dogs.
f) Because a single impulsive purchase can negate all financial advantages of shopping at Costco.
g) Because Costco's easy return policy encourages waste. And some people who care about the environment prefer to consume less instead of wasting more.
h) Because some people value their time.
I) Because Costco's warehouse concept encourages people to spend more.
j) Because some people feel cheated by the illusion Costco is attempting to create that everything is cheaper because it is a 'warehouse'.
k) Because the 'membership concept/cost' is a mental stimulation to spend more in particular with people of lower intellect.

Costco is for some, but not for all.
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PointsHubby wrote:
Jul 6th, 2019 10:44 pm
Costco’s Exec Membership runs for a full year
Earning you the 2% Reward the whole 12 months

The confusion lies in the fact that Cheque’s are issued at the same time as Renewal Notices
Around month 9 or 10

If you continue as an Exec Member for another year
That money is rolled over into your next Renewal Notice + Rewards Cheque

If you don’t renew as an Exec, but take a Regular Membership on your Anniversary Date
They’ll still give you the balance for those 3 months

Same thing I think happens if you just don’t bother to Renew at all after your Anniversary Date lapses

Where it gets tricky is if you CANCEL your Membership
Between Month 9 and your 12th Month Anniversary Date
To be honest ... not sure what happens then.

Honestly don’t know why anyone would cancel out entirely
We are strategic shoppers ... and still we make back a basic membership with very little trouble considering JUST A HANDFUL of items we buy regularly that are waaaay cheaper there than anywheres else

Like Gasoline (significantly less per litre than anywhere else)
Propane (about half price)
Coffee Cream (Anywhere from $ 0.50 cents cheaper, to several dollars)
Gift Cards (20% Off stated price / value)
And tons of other items
Costco gas does not qualify for the Executive cashback.
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Feb 7, 2017
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vkizzle wrote:
Jul 7th, 2019 7:31 pm
Costco gas does not qualify for the Executive cashback.
True ... I was just listing off the BIG SAVERS that can be found at Costco vs other Retailers

My exact quote was
We are strategic shoppers ... and still we make back a BASIC membership with very little trouble considering JUST A HANDFUL of items we buy regularly that are waaaay cheaper there than anywheres else

BASIC = As in $ 60 / year

Infact most of what I Listed are EXCLUSIONS under Costco’s 2% Cash Back Program for Exec Membership
https://www.costco.ca/executive-rewards.html

Of course, YMMV ... everyone shops differently etc
Example ... although Costco Gas can be cheap
There are certainly times when offers can be STACKED at other Retailers that make things much cheaper than Costco
(True for PCO Program, AirMiles, or Cdn Tire Triangle Rewards)

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