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Whenever I meet someone who has never had a Costco membership, I always give them this advice: Don't pay full price for your first membership. Whether it's a Gold Star ($60 annually) or Executive membership ($120), nine times out of 10 you can find a discount through Costco or online.
But recently I stumbled upon a new Executive membership promotion through Groupon that surprised me. In fact, I think it might be the best sign-up bonus I've ever seen for new members. If you haven't been a Costco member in the last 18 months, here's your chance to take advantage of an incredible offer.
Get a Costco Shop Card and a hefty discount on a Costco.com order
New enrollees to Costco's Executive membership can score a $40 Costco Shop Card, plus a promo code good for $60 off a costco.com order of $200 or more. To get the promotion, just use promo code CJGPNMBR when you purchase your Executive membership through Costco. You'll have to set-up auto renewal and use a Visa credit card to qualify (check out our list of best Costco cards to get the right one for you). If you see a $0.01 deduction after you apply the promo, then you know it has worked.
Again, this is for new Costco members only, which Costco defines as someone who hasn't been a member in the last 18 months. If you're currently a Gold Star member, an upgrade to an Executive membership won't qualify you for this offer.
Once you sign up with the promo code, your Costco Shop Card will be emailed within two weeks. Likewise, a separate promo code for the $60 off will be emailed to you within two weeks of successful enrollment. You'll then have until Oct. 6, 2024 to use this code to save money on a costco.com order of $200 or more.
Should you act on this offer?
If you've been on the fence about Costco, now would be a great time to become an Executive member. The value of the Shop Card and promo code would equal $100, which is only $20 less than the cost of the Executive membership. On paper, then, you'd only pay $20 out of pocket to shop at Costco at the Executive level for your first year.
As an Executive member, you'll earn 2% back on qualified Costco purchases (up to $1,000 per 12-month period). Normally, you'd need to spend $3,000 within a 12-month period to cover the $60 difference between a Gold Star ($60) and Executive ($120) membership. But if we factor in the $100 of value you're getting through this promotion, you would only need to spend $1,000 in a 12-month period to cover the out-of-pocket cost of $20.
To get started, head over to Costco's website and add an Executive membership to your cart. Then use the promo code (CJGPNMBR) at checkout, enroll in auto renewal, and add a Visa credit card. Once Costco approves the transaction, the Shop Card and promo code will be emailed to you within two weeks.
Again, this is an unusual offer and it might not come around again. Take advantage of it while it's still active and save an unprecedented $100 on your first Executive membership.
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