Costco Offers Free Digital Gift Cards to New Members: Is it the Right Time to Sign Up?

Costco is currently enticing potential new members with a lucrative deal. Individuals who sign up for a Gold or an Executive membership and agree to automatic renewal for the following year can earn a $30 digital Costco Shop Card. With this offer, Gold membership is cut in half, and Executive membership comes with a 25% discount.

An Executive membership costs $120, but it offers a 2% cashback as a Costco voucher at the end of the one-year membership anniversary. By receiving a $30 Costco Shop Card, you can effectively reduce the cost of your Gold membership 50% or save 25% on an Executive membership.

Typically, it requires $6,000 in purchases to earn back the membership fee for an Executive membership. However, taking advantage of this deal and saving $30 upfront, you only need to spend $4,500 in your first year to cover the membership fee.

Although Costco frequently offers deals for new members, the duration of this particular promotion is unknown. Therefore, it is wise to seize the opportunity now, as there is no indication of when this offer will end.

Recently, Costco has started cracking down on card sharing. The Gold and Executive memberships include a free card for a household member. However, the company believes it is unjust for non-members to receive the same benefits and pricing as members. Costco now verifies membership cards, including photo identification, at self-checkout lanes. Therefore, if you have been sharing a card with someone else, it may be time to invest in your own membership.

In addition to the immediate benefits of joining, such as access to exclusive deals and discounts, becoming a member can also lead to long-term savings. With the fall season upon us, many people embark on home renovations, making big-ticket purchases. These expenses could cover the cost of an Executive membership in one shopping trip, allowing you to earn cash back in the process. Even with a Gold membership, you can enjoy savings on seasonal items, decoration, and food for gatherings.

If you have been contemplating becoming a Costco member, now may be the perfect time to take the plunge and reap the rewards.

Source: GOBankingRates