BAD NEWS: Costco Is About to Increase Its Membership Fees

We LOVE to bring you good news — unfortunately, this isn’t one of those times.

©Costco

We keep up on Costco news year-round to help you stay in the loop when it comes to great deals and merch finds, Disney or otherwise. However, we’re bringing you a different kind of Costco report today — membership fees are about to rise.

According to multiple outlets, Costco Wholesale membership fees are about to go up in both the United States and Canada.

©Costco

On Wednesday, July 10th, 2024, Costco announced it would be increasing its membership fees for the first time since 2017. The basic tier will cost an additional $5 in the U.S. and Canada, going from $60 to $65 annually. The higher-tier membership known as “Executive Membership” will see a $10 increase, raising from $120 to $130 annually.

The change goes into effect officially on September 1st, 2024.

©Costco

Costsco raises the membership rates about every five and a half years, so this price increase was somewhat to be expected — having gone seven years since the last increase.

©Costco

Costco membership fees have allowed their warehouse retail stores to keep the cost of merchandise low to compete with the likes of Sam’s Club and other wholesale competitors. With that said, Costco was already charging more for membership than its direct competition and this price increase maintains that status.

The fee increase also comes on the heels of a card-sharing crackdown where Costco added extra membership checks in self-checkout aisles last year.