Quote:
Originally Posted by Hot_Flatus
Holy crap that takes extreme cheapskate to a whole new level.
I find that if you actually use your membership, it pays for itself in spades. The bulk groceries are one thing that add up, but if you fill with gasoline regularly and handle your BBQ propane tank refills there as well, you can save close to $100 a year compared to doing so at random gas stations.
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I always get the executive card for $60 more. Break even for a regular card is $3K spending per year or $250 per month. I volunteer to acquire things for big parties/people and people reimburse me all the time so I hit this number pretty easily. This isn't even include Costco travel and car rentals which can add up quickly too.
Gasoline and prescriptions and a few other things don't qualify for 2% back, but you're already benefiting from some solid savings at Costco already.
The gift card loophole doesn't work as well anymore. You cannot make huge purchases as a non-member/gift card payment differential any more. Furthermore, I seem to recall they track who is using gift cards by asking for a postal code or something so if you use too many gift cards, they'll clue in and tell you that you need to get a membership.
The full refund for cancellation thing I think is once per lifetime. The other way I've heard is cycling through friends and family members with the card on a 11 month cycle. This way you get the $10-20 cash cards for new applications/referrals at the end of a membership for a referral but a bunch of people are just sharing the same membership and e-transferring each other for the purchases.