Costco raising membership fee: Frugal dilemmas

October 07, 2011|Liz F. Kay

Costco Wholesale Corp. will raise its membership fee $5 to $55, Reuters reports. Executive members, who earn annual rebate checks, will see their annual membership increase from $100 to $110.

Other discount warehouses have already made similar moves. According to the story, BJ's Wholesale increased its membership fee by $5 to $45 in January.

Will this decision affect whether you continue to shop at Costco, or whether you plan to join? You have to factor in the increased annual fee to determine whether you could save enough buying in bulk to make it worth your while.

Some consumers sign up for the Costco American Express card, which has no annual fee if you pay for the annual membership, and earn cash back on purchases. Just make sure they don't charge you twice if you are already a member, and make sure that they don't backdate your membership so it expires early.

Shopping at warehouse stores also requires willpower not to blow that savings on impulse purchases.

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