Costco raises annual membership fees amid rising inflation

Published: Sep 02, 2024 Duration: 00:01:35 Category: News & Politics

Trending searches: costco membership cost
WE TURN NOW TO COSTCO, RAISING ITS PRICES ON MEMBERSHIPS FOR THE FIRST TIME IN SEVEN YEARS. ELIZABETH SCHULZE IS HERE WITH DETAILS AND HOW YOU CAN STILL SAVE ON THOSE PURCHASES. THAT'S THE IMPORTANT PART. >> GOOD MORNING, REBECCA. THESE HIGHER FEES ARE IN EFFECT FOR 52 MILLION FAMILIES WITH MEMBERSHIPS. THE AVERAGE GOLD STAR MEMBERSHIP WILL COST YOU $5 MORE AT $65 PER YEAR. EXECUTIVE MEMBERSHIP IS $10 FOR AT $130. TYPICALLY COSTCO WILL HIKE FEES ABOUT EVERY FIVE YEARS. ACTUALLY WAITED SEVEN YEARS ADMITTING CUSTOMERS WERE STRUGGLING WITH HIGH INFLATION. THE RETAILER SAID THE FEES HELP KEEP PRICES LOW AND SAM'S CLUB INCREASED THE COST OF ITS MEMBERSHIPS IN 2022. WE HAVE ALSO SEEN COSTCO CRACK DOWN ON MEMBERSHIP SHARING. WAREHOUSE WILL HAVE SCANNERS AT THE DOOR TO CHECK YOUR ID MATCHES YOUR ID ON YOUR MEMBERSHIP CARD. >> Rebecca: THEY'RE LOOKING CLOSELY THERE. HOW DO YOU SQUEEZE EVERY PENNY OUT OF THAT MEMBERSHIP? >> THIS IS ONE PERK SOME MEMBERS MIGHT NOT KNOW ABOUT. CALLED PRICE ADJUSTMENTS. IF YOU BUY SOMETHING AT COSTCO BUT NOTICE WITHIN 30 DAYS THAT THE COST WENT DOWN, YOU CAN APPLY FOR A CREDIT. YOU CAN SHOW YOUR RECEIPT IN THE WAREHOUSE. FOR ONLINE, THERE'S A PRICE ADJUSTMENT FORM YOU CAN FILL OUT ON THEIR WEBSITE. IT DOES HELP AVOID LEAVING MONEY ON THE TABLE. PUT IT BACK IN YOUR BANK ACCOUNT INSTEAD. >> Rebecca: KEEP YOUR RECEIPT. >> $4.99 FOR A ROTISSERIE CHICKEN HAS NOT GONE UP. >> Rebecca: THA

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