Executive Membership Terms and Conditions
Executive Members receive an annual 2% reward of up to $1,000* on qualified Costco purchases. Terms, conditions, and exclusions apply.
Upgrade to an Executive Membership and receive an annual 2% reward. The Executive Membership upgrade fee is an additional $65 a year for Gold Star Members and $65 for Business Members. We will prorate the upgrade amount based on the months remaining in your current membership up until 2 months prior to your membership expiry.
Purchases made prior to upgrading are not eligible for the 2% reward. At your next renewal, you will be billed a total of $130 for your Executive Membership. To upgrade, visit the membership counter at any Costco warehouse.
- Costco Executive Members receive a 2% reward on qualified purchases (excluding GST) see calculation of 2% reward below.
- Reward is capped at and will not exceed $1,000 for any 12-month period.
- Only purchases made by the primary and active household cardholder on the account will apply toward the reward.
- Any items that have earned rewards and are then refunded, will lose the rewards earned. Refunds will be calculated on the most recent purchase of the item.
- The reward is not guaranteed to be equal to or greater than the Executive upgrade fee paid.
- Limit one Executive Membership per household or business.
- Purchases made prior to upgrade do not qualify for the 2% reward.
- If, at any time, the household cardholder is removed from the account, their purchases will not apply toward the reward.
| Paid Executive Membership 2% reward | Monthly Purchases | Yearly Purchases | Approximate Annual Reward |
|---|---|---|
| $250 | $3,000 | $60 |
| $500 | $6,000 | $120 |
| $800 | $9,600 | $192 |
| $1,250 | $15,000 | $300 |
| $2,500 | $30,000 | $600 |
| $4,167 | $50,000 | $1,000 Max |
Reward is approximately 2% of pre-tax (GST) purchases (less refunds) of most merchandise purchased through: front-end registers, most ancillary business registers at Costco warehouses and Costco websites in Australia.
Rewards are not calculated:
- On purchases of fuel, bullion, pharmacy, Costco Shop Cards, charitable donations and at food courts.
- On membership fees.
- On miscellaneous fees, deposits and taxes, including sales tax and shipping; where prohibited by law or regulation.
- On purchases made by anyone other than the account's Primary or Primary Household Cardholder.
- And on certain other categories as determined at Costco's discretion, which may change without notice.
- The 2% reward is issued by email to the primary member approximately 10 days prior to the member’s renewal date and reflects the reward earned up until the issue date.
- Purchases made after this date will be added to the following year's reward calculation.
- A member must be a current, paid Executive Member at the end of the membership year to be entitled to the reward.
The reward notification is emailed to the primary member. Rewards totalling less than $1 will not be sent. The reward will be available to the primary member at the front-end registers and may be redeemed toward purchases of most merchandise through the front-end registers (not currently available at self-checkout) at Costco warehouses in Australia.
Rewards may not be used:
Toward purchases of Shop Cards and Gift of Membership.
Toward purchases that are not recorded through Costco's front-end registers, such as purchases at fuel stations, Food Courts, and online at Costco.com.au.
On purchases of services.
Where prohibited by law or regulation; or on certain other categories as determined at Costco's discretion, which may change without notice.
Rewards may not be redeemed for cash.
Regulatory restrictions on rewards are subject to change at any time.
To receive a refund for the current Executive upgrade fee, the membership must be cancelled or downgraded to a Gold Star or Business Membership. Any 2% reward accrued and issued and not yet redeemed, will be forfeited. Any 2% reward redeemed will be subtracted from the refund and forfeited to the extent it exceeds the amount of any refund. Any additional savings and services exclusively for Executive Members will be discontinued.