Costco membership rules explained including how to get Gold status
IN THE CLUB Costco membership rules explained including how to get Gold status
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THERE are many unbeatable bargains to be found at Costco. But unlike typical UK supermarkets, you can't simply stroll in.
If you want to browse the vast aisles of the retailer's 29 UK warehouses or shop on its website, you'll need to pay at least £42 for a yearly membership.
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You'll need a membership if you want to shop in Costco - but not everyone is able to get one
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The US retail giant's main customer base is traders, but some individual shoppers are also able to take advantage of the bulk-buying offers.
The retail store currently has about two million members in the UK.
We've broken down all the Costco membership rules, so you can see if you qualify for membership and how much it will cost you.
What is Gold Star membership?
Costco's Gold Star membership is for individuals who wish to shop at the retailer, either in stores or on its website.
The cost of an annual Gold Star membership rose by £7 earlier this year from £28 to £35, marking the first hike in over eight years.
Including VAT, the membership now costs £42.
Furious customers even threatened to cancel their membership after learning of the price hikes, which Costco said were introduced to "keep pace with rising costs."
However, even if you're willing to pay, not everyone is eligible to become a member.
Only current or retired employees of certain professions qualify for the membership, and they must be over 18.
To become a Gold Star member, you'll need to be working in, or have worked in, one of these professions:
Banking / Finance
Local Government
Fire / Rescue Service
Post Office
Airlines
Education
Police Force
Civil Service / Armed Forces
Medical / Health Service
Insurance
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You can also join if you've qualified as one of the following:
Qualified / Certified / Chartered Accountant
Chartered Architect
Doctors (MD) / Dentist / Optician / Pharmacist
Chartered Surveyor
Solicitor / Barrister / Magistrate / Advocate
Chartered Engineer / Civil etc
Some private companies also have arrangements with Costco which allow their employees to become members.
You can use the search tool on Costco's website to find out if your company is on the list.
If you fit one of the criteria and would like to join, you'll need to provide either an employee ID card, a payslip or pension statement, or a qualification statement, which must be dated within the last three months.
You'll also need to provide photo ID.
When you join as a Gold Star member, you'll get two membership cards - one for you and another for your spouse or partner.
The fee for adding an additional Gold Star cardholder to your membership is now £20, after the retailer increased it from £14 in the spring.
Gold Star members are able shop at any of Costco's 29 wholesale stores across the UK, as well as its 19 petrol stations.
What if you don't qualify for Gold Star membership?
While you won't be able to shop at Costco in person without a Gold Star membership, you can still shop online.
The retailer offers an Online-only membership, which is open to anyone for an annual fee of £42.
Online members will be able to shop on the Costco website and book with the company's travel agency, Costco Travel.
However, you won't have access to Costco stores or petrol stations.
What is Executive Gold Membership?
A more expensive membership option is also open to shoppers who qualify for Gold Star.
Executive Gold Star membership costs £70, or around £84 including VAT.
Members can earn a 2% reward on most of their purchases every time they shop, and they also get access to exclusive coupons and Costco events.
Costco claims that its Executive membership "could pay for itself" thanks to its rewards, which are capped at £500 for individual members.
Another perk is longer opening hours, with doors opening to executive members around an hour earlier during the week than for regular Gold Star members.
HOW MUCH IS COSTCO MEMBERSHIP?
FROM today (March 1), the following new fees will apply.
Business (previously Trade) Old Fee: £22
New Fee: £25
Increase: £3 (13.64%)
Business Additional Cardholders Old Fee: £14
New Fee: £15
Increase: £1 (7.14%)
Gold Star (previously Individual) Old Fee: £28
New Fee: £35
Increase: £7 (25%)
Gold Star Additional Cardholders Old Fee: £14
New Fee: £20
Increase: £6 (42.86%)
Executive Business Old Fee: £56
New Fee: £65
Increase: £9 (16.07%)
Executive Gold Star Old Fee: £62
New Fee: £70
Increase: £8 (12.90%)
Do you have a money problem that needs sorting? Get in touch by emailing money-sm@news.co.uk.
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