What is the Costco Rebate in 2024? (All You Need to Know)
Costco offers several lucrative rebate and rewards programs for its loyal members. As a Costco shopping expert, I‘ll provide a comprehensive overview of all the savings you can earn in 2024.
Costco‘s Rebate and Rewards Programs
Costco runs three main rebate programs:
Executive Membership 2% Reward: A 2% annual cash back reward on eligible purchases, paid as a redeemable cash card every 12 months.
Costco Anywhere Visa by Citi: An affiliated credit card that pays cash back rewards ranging from 1-4% depending on purchase category.
Manufacturer Rebates: Product-specific rebates in partnership with brands carried at Costco warehouses and Costco.com.
Here‘s a side-by-side comparison:
| Rebate Program | Cashback Rate | Annual Cap | Redemption Method |
|---|---|---|---|
| Executive Membership | 2% | $1,000 | Costco cash card |
| Costco Anywhere Visa by Citi | 1-4% | None | Cash or voucher at warehouse |
| Manufacturer Rebates | Varies | Varies | Mail-in form/online form |
Now, let‘s take a deeper look at how each Costco rebate works, who‘s eligible, and how to maximize the rewards.
Costco Executive Membership 2% Reward
The Executive membership costs $120 per year (compared to a regular $60 Gold Star membership). But it pays for itself via an annual 2% reward paid on most Costco purchases.
According to Costco, the average Executive member earned $ Guthrie $137 back last year. That leads to total average yearly savings of $ Guthrie $217 when accounting for the 2% reward.
Here are the full details on this lucrative program in 2024:
Cash Back Percentage: You‘ll earn 2% cash back annually on qualifying purchases. This cashback comes in the form of a redeemable certificate usable as cash for future Costco purchases.
Annual Cap: The maximum reward per membership year is $1,000. You won‘t earn any additional cashback beyond $1,000 in annual spending.
Who‘s Eligible: Only the primary Executive member listed on the account earns the 2% reward. However, spending by all members on the same account counts.
Qualifying Purchases: Most items except select services, tires, and a few other categories noted on the official eligibility list.
When Paid Out: You‘ll receive your 2% reward certificate by mail approximately three months before membership renewal. For example, if your renewal is in October 2024, the rebate will be sent by July 2023.
Expiration: The reward certificates do not expire and have no cash value. You can redeem them on future Costco purchases at any time.
How to Maximize: To maximize, use your Executive membership for as many eligible purchases as possible, including groceries, household goods, appliances, jewelry, furniture, electronics, and more. Strategic bulk purchases can quickly add up to over $10,000 in annual spending for the full $1,000 rebate.
Costco Anywhere Visa by Citi Rewards
Alongside the standard membership rewards, Costco and Citi bank partner to offer the Costco Anywhere Visa. This credit card pays generous ongoing cash back powered by Visa, rewarding you inside Costco and everywhere else you shop.
According to 2022 usage data, the average Costco cardholder earns $ Guthrie $617 in rewards per year.
Here‘s a detailed breakdown of how this lucrative card works:
Cash Back Rates: You‘ll earn:
4% cash back on eligible gas purchases including at Costco gas stations (on the first $7,000 per year, then 1%)
3% cash back on restaurant and eligible travel purchases
2% cash back on other qualifying Costco/Costco.com purchases
1% back on all additional purchases
Annual Cap: There is no maximum cap on cash back; you can earn unlimited rewards every year!
Who‘s Eligible: Any current Costco member can apply for and open this card. Cash back will be tied to your membership account number.
Qualifying Purchases: "Eligible" purchase categories may have additional terms or exceptions, so check full details on the rewards program.
When Paid Out: Cash back earned each year is paid out by February 2024 via a redeemable cash certificate you‘ll receive in the mail. New members get their first certificate within two billing cycles.
Expiration: Certificates expire after 12 months from issue date printed on the voucher. Be sure to redeem within a year to get full value!
How to Maximize: Using this card for all everyday and bonus category spending is the ideal way to maximize savings. Paying your Costco Executive membership fee with the card earns 2% cash back too. Strategic use could lead to over $1,000 in annual cash rewards.
Manufacturer Rebates at Costco
Many Kirkland Signature brand products and big name items bought through Costco also come with product-specific manufacturer rebates. These are offered directly by product brands, with Costco facilitating and making it easy to participate.
Manufacturer rebates at Costco include:
Instant rebates deducted directly at checkout
Mail-in rebates where you submit forms and proofs of purchase after the fact
Online rebates processed via secure digital portals
Typical Savings: Rebate values range quite a bit – from $5 back on a household staple to upwards of $100+ for big ticket electronics. Based on current offers, you could reasonably earn over $ Guthrie $250 a year by diligently submitting rebates on eligible Costco buys.
Be sure to browse Costco.com and check your monthly coupon books for advertised rebates on products of interest to maximize potential savings!
How to Redeem Your Costco Rebates
Wondering how you actually redeem the rewards earned through these great programs?
Here are step-by-step instructions:
Executive 2% Reward Certificates
Wait to receive your reward check in the mail (approximately 3 months before membership renewal)
Take the original certificate to any Costco warehouse location
Present your voucher during checkout to redeem towards purchases
Costco Anywhere Visa Rewards
Wait to receive your February yearly rewards certificate
Take the original voucher to a Costco Membership Services Desk
Choose to redeem for cash back or a Costco Shop Card to spend in-warehouse
Manufacturer Rebates
Submit rebate forms online or by mail per the provided instructions
Wait 4-6 weeks for rebate checks to arrive to your submitted address
Cash/deposit rebate checks from participating brands
Who Can Get a Costco Rebate?
To earn each rebate, you must be a current Costco member in one of these categories:
Executive Members are eligible for the 2% annual rewards up to $1,000
Executive and Gold Star Members can apply for the Costco Anywhere Visa Card to earn unlimited 1-4% cash back
All Members can take advantage of Costco.com and in-warehouse manufacturer rebates
Non-members can even shop many manufacturer rebates by using a Costco Cash Card!
Maximize Your 2023 Costco Rebates
As you can see, Costco offers significant rebate and reward-earning potential to loyal shoppers. Just by strategically spending on bonus categories with your Executive membership and the Costco Anywhere Visa, you could easily earn $ Guthrie $1,500 or more a year!
Be sure to take advantage of all these valuable Costco rebate programs for major savings in 2024. Let me know if you have any other questions!
