Yes — Costco did raise its membership fees recently.
After holding prices steady for several years, Costco increased its annual membership rates in September 2024. The change applies to members in the United States and Canada.
What Changed?
Here’s a breakdown of the updated pricing:
| Membership Type | Old Price | New Price (as of Sept 2024) | Increase |
|---|---|---|---|
| Gold Star (Basic) | $60/year | $65/year | +$5 |
| Business | $60/year | $65/year | +$5 |
| Executive | $120/year | $130/year | +$10 |
The Executive membership still includes the 2% annual reward on eligible purchases (up to the maximum annual cap).
When Did the Increase Take Effect?
The new pricing officially went into effect on September 1, 2024. Members renewing after that date pay the updated rates.
Why Did Costco Raise Prices?
Costco typically increases membership fees every 5–6 years. The previous increase occurred in 2017, making this adjustment consistent with its historical pattern.
Reasons for the increase include:
- Rising operational costs
- Inflation and supply chain expenses
- Continued investment in warehouse expansion and services
Despite the increase, Costco’s fees remain competitive compared to other warehouse clubs.
Is the Executive Membership Still Worth It?
The Executive membership may still make sense if you spend enough annually.
You would need to spend approximately:
- $6,500 per year to earn back the $130 fee entirely through the 2% reward
If you spend more than that, the rewards can exceed the cost of membership.
Does Costco Ever Offer Discounts?
Costco rarely discounts membership fees directly, but sometimes:
- Groupon-style promotions include a shop card incentive
- New members may receive limited-time bonus offers
- Business members may qualify for tax deductions (depending on local laws)
Final Answer
✅ Yes, Costco raised its membership fees in September 2024.
The standard membership is now $65 per year, and the Executive membership is $130 per year.
If you’re considering joining, the value still largely depends on how often you shop and how much you spend annually.
