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It's official, Costco has confirmed a 10 percent hike on its membership fee, which will go into effect starting in June. This means the price of standard memberships (read: Goldstar and Business members) will jump to $60 per year, from the current rate of $55. Meanwhile the price of an Executive membership will increase by about 9 percent, from $110 to $120, Consumerist reports. Advertisement - Continue Reading Below.
Citing UBS analysts, Business Insider reported that Costco is due to jack up its membership fees sometime this year or early 2017 by roughly 10%. If and when the change comes, the cost of a basic membership will increase from $55 to $60 annually, and an executive membership would go from $110 to $120. Executive memberships offer 2% cash back on most Costco purchases, but the added expense obviously only pays off if you do a significant amount of shopping at Costco.