Shopping Discussion

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

  • Last Updated:
  • Jul 8th, 2019 12:57 am
[OP]
Sr. Member
Jan 19, 2018
540 posts
348 upvotes

[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)?
6 replies
Sr. Member
User avatar
Oct 24, 2016
614 posts
448 upvotes
ON
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.
Isn't it great to live in the 21st century where deleting history has become more important than making it.
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Jan 3, 2014
2593 posts
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bobohobo2kx wrote: 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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Deal Guru
Feb 7, 2017
11187 posts
8418 upvotes
Eastern Ontario
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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Dec 20, 2004
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Vancouveresque
You can always cash out your executive rewards, even if you are a current member.
Deal Expert
Aug 22, 2011
30416 posts
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Ottawa
PointsHubby wrote: 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.
Deal Guru
Feb 7, 2017
11187 posts
8418 upvotes
Eastern Ontario
vkizzle wrote: 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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