Costco Canada membership fees have increased – here's what you need to know

If you’ve been recently mulling over going all in on Costco membership, you might have missed the chance to lock in the best membership rates.

On, September 1, 2024, Costco Canada increased its membership fees for the first time in nearly a decade.

Costco’s standard Gold Star Membership, which had been $60 annually since 2017, is now $65 per year. The Executive Membership, previously priced at $120, has increased by $10, bringing it to $130 per year.

For Executive members, there’s also an increase in the 2% cashback reward limit, which has gone up from $1,000 to $1,250 annually, giving members more potential rewards for their purchases.

Why did prices go up?

In a press release, Costco explained that this fee increase applies to both the U.S. and Canada for Gold Star, Business, and Business Add-On memberships. This is the first membership fee hike in seven years, aimed at continuing to offer value through Costco’s wide selection of wholesale products, exclusive brands, and services.

What you can do now

If you’re planning to join Costco, you’ll now pay the new rates of $65 for the Gold Star Membership or $130 for the Executive Membership. While the prices have increased, Costco continues to offer significant savings through its Kirkland Signature products and exclusive member benefits. A closer look at the kind of deals you can find in Ontario for September can be found here.

Now’s a good time to explore what Costco has to offer, from groceries to electronics, and decide whether the membership is still a good fit for you.

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