This is to talk about some downgrade options for a Citi prestige card, talk about how to maximize the value for credit cards, how to get the most cash back and also how to travel for free, and the advantage and disadvantage for each card, and it depending on the circumstances.
We're going to talk about Costco and how I get my membership for free.
First, let me explain that we are a Costco family, I mean I love Costco, anything that we need to purchase or buy I immediately go to Costco first. When we refinanced our home I went to Costco. When I buy my gas I go to Costco. When I get ready to chow like plan a trip or rent a car I go to Costco.
Anything needs to buy I immediately go to Costco
We try to buy our groceries from Costco's, we buy our electronics from Costco, I mean we are just a Costco family. If you are a Costco family this will be beneficial to you. With that in mind let me explain to you the two different kinds of memberships that Costco has.
This is a Costco gold card, this is the card that everyone when you sign up for Costco, this is the card that they offer you. It's an annual membership fee of $55, and with this card, you get access to all Costco locations, and it includes another free card for someone else in your household.
So you can have two cards like one for you and one for your spouse or partner to have, so that's the basic membership that most people have to shop at Costco by now. I would recommend this membership if you aren't like a hardcore Costco lover like myself or you don't spend as much as possible, you just go to Costco for maybe once a quarter or something like that then this benefit.
This membership is beneficial to you
This membership is beneficial to you, to me the savings that you get are Costco is worth this. Now the Costco membership that I have that I'm able to essentially get for free is this, this is a Costco gold membership card and the annual fee for this card is 110 dollars, and with this membership, you get everything that the gospel.
The Costco Gold Card has along with additional benefits for Costco services, and services meaning like mortgages and insurance and travel. You get upgrades on Costco travel, but the kicker and the number one thing that you get with this executive membership is 2% cashback and rewards.
Not every Costco purchase is a qualified Costco purchase
With every qualified purchase that you make at Costco you get a 2% cash back reward on that, now not every Costco purchase is a qualified Costco purchase. The things that are not qualified are gas, tobacco purchases, cash card.
If you buy like gift cards and stuff that doesn't qualify, when you purchase food at the food court that doesn't qualify, Costco travel does not qualify, and then business consumer insurance services do not qualify. But everything else does.
If you buy a TV, if you buy a refrigerator, if you buy your food and groceries and bulk, all of that qualifies for a Costco executive membership. As I said, the cost of this is 110 dollars.
Upgrade to an executive membership card
Since we are a Costco family I definitely upgraded to an executive membership card, and on average in order to break even for a Costco executive membership on average, you need to spend 458 dollars a month. Now, this may seem like a lot, but for me and my family, it's not a lot.
I mean for me and my family it's doable and on average of what we spend on groceries because I just don't buy groceries from Costco. I also buy all my cleaning products, our paper products, I buy a lot of our Christmas gifts at Costco. Our holiday food and decor at Costco, that all comes from Costco.
Like that it's easy for us to hit that target of on average 458 dollars a month, now that doesn't mean you have to spend 458 dollars every month. I mean one month you may spend 300 dollars, then the next month you may spend $600, during the holidays you may spend thousands of dollars.
The average 458 is easy to reach
Then you can easily make your mark because of what we spent last year I got this in the mail $125 and 3 cents, this is my cash gift reward that I will redeem at our next Costco outing. I'm super excited and that covers our membership with an extra $10 or $15 in tow.
To me, it's totally worth it, it's totally worth the savings that you get at Costco, and if you are a larger family and you do a lot of grocery shopping at Costco or monthly purchases at Costco I highly recommend it.
I'm happy to announce that I just created a brand new Facebook group, where we can all have an open discussion about anything from being a mommy, being a wife, money management, personal finance, time management. It's just a really great forum and a safe place with no judgment for us to have open communication.
Other web page resource
Join Costco | Costco - Costco Wholesale: https://www.costco.com/join-costco.html