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Are you a Costco member yet? It’s cheap and could save you hundreds of dollars every year. In fact, in 2020 there were over 105 million Costco memberships around the world.
What is a Costco Membership?
Costco Wholesale Corporation is also known as Costco (Costco Canada). It is a widely spread business that owns a series of warehouse clubs that run on a membership-only basis.
It is one of the topmost retailers in the world. Costco’s first-ever warehouse was built in the year 1983. Seattle by James Sinegal and Jeffrey Brotman built it.
1. Features of the Membership and Their Functioning
2. What Are the Criteria for a Costco Membership?
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Any Individual aged 18 years or older are eligible.
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These memberships are non-transferrable, as they can be used only by the actual owner of the membership.
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Every Business/Household is limited to owning only a single membership.
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A legal government-linked ID proof or a Canadian amalgamated document should be produced.
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Should be a current or retired employee of
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Banking/Finance
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Local Government
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Fire/Rescue Department
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Postal Department
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Airlines
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Education Department
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Police Force
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Civil Service or Armed Force
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Medical Field
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Insurance Services
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A photo must be submitted during registration. It will be visible either on the back of the Costco membership card or the Capital One MasterCard.
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If a member fails to comply with any of the rules or abuses membership privileges at any point in time, Costco can cancel the applicant’s membership.
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If a primary cardholder’s membership is terminated, it will terminate the membership of the associate cardholder.
3. The Different Types of Costco Canada Memberships
Memberships are majorly divided into categories:
- Individual Membership
- Business Membership
3.1 Individual Membership
Costco Canada provides Individual membership to employees of select groups and professions. It is available to any individual above the age of 18 years. One must also fulfill the requirements listed above. There are 2 types of Individual Costco memberships available.
3.1.1 Gold Star Membership with an annual fee of CAD 60
3.1.2 Gold Star Executive Membership with an annual fee of $120
3.2 Business Membership
A Business Membership enables a Business to avail of the benefits of purchasing business needs, personal use, etc. A Business Membership is further classified as follows:
- Individual Business Membership with an annual fee of CAD 60 annually.
- Business Star Executive Membership with an annual fee of CAD 120 annually.
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They include a Household Card that your Spouse/Family Member can use.
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Their validity extends worldwide.
4. Costco Digital Membership Card
5. Common FAQs About The Costco Memberships
Q1. How do you pay for your purchases?
Ans. Costco accepts only Visa Credits. If you do not own a Visa Credit Card, you can make payments via cash, debit card, or check. Costco only accepts members from the same family who are living at the same address.
Q2. Is a membership from Costco a feasible option if you don’t shop in bulk?
Ans. As per the analysis, Costco’s main attraction is its savings on bulk shopping. Therefore, if you do not have the means to store in bulk or shop for more, this membership is not the best option.
Q3. What services of a Costco Warehouse can you access as a non-member?
Ans. While most of the services are covered via memberships only, some parts of the store are accessible to non-members. These include the Pharmacy, the Food Court (conditions apply*), and the Liquor Department (conditions apply*).
Q4. Can you shop at Costco without actually being a member?
Ans. Yes, you can do that. One way is to tag along with a friend who is a member since Costco members are allowed to bring two guests. Another way is to use Costco shop cards. These work like gift cards that members receive and range from $10 to $100. Costco sells pretty much everything you need, from home appliances to your favorite gadget.
Last Updated on by alishbarehman
