COSTCO Officially Raises Membership Fees First Time In Seven Years

Customers who sign up for the 'Gold Star,' 'Business' or 'Business Add-On' plans will now pay the new price.

COSTCO has officially raised it’s membership price for the first time in seven years.

The retailer first announced the price hike in July warning membership fees would increase by $5 to $65 a year for three of its plans.

Customers who sign up for the ‘Gold Star,’ ‘Business’ or ‘Business Add-On’ plans will now pay the new price.

If you already have the membership your current price will not increase. However, if you choose to renew your plan, you will also be charged the new price.

The price of COSTCO’s premium ‘Executive Membership’ also went up, by $10 to $130 a year. However, those members will soon be able to earn a maximum of $1,250 in rewards annually compared to the current $1,000.

An estimated 52 million memberships will be impacted by the price changes.