Examined Sep 18, 2026 Paid in a Shop Card, not cash Auto renewal required Costco emails a new member a $20 or $40 Shop Card, but only if auto renewal is set up at sign-up and nobody on the membership held a Costco card in the last 18 months.
You pay first. Costco's Refer-a-Friend page says a membership is $65 a year and an Executive Membership is an additional $65 upgrade fee a year, so Executive costs $65 plus $65, which is $130, and either may be subject to sales tax. Take the card off and the first year is $65 minus $20, which is $45, or $130 minus $40, which is $90. Both tiers hand back $20 for every $65 paid, so the card is no reason to pick Executive.
What pays what
| New Gold Star membership, $65 a year, auto renewal set up at sign-up | $20 Shop Card |
|---|---|
| New Executive membership, $130 a year, auto renewal set up at sign-up | $40 Shop Card |
| Approved for the Costco Anywhere Visa Card by Citi with a new Executive membership | $65 Shop Card, emailed within 4 weeks of card approval |
| Joining without auto renewal, or without a valid email | $0 |
| A Primary, Household or Affiliate member at any point in the last 18 months | $0 |
Receive $40 Costco Shop Card for Executive Members and a $20 Shop Card for Gold Star Members. Valid only for new members and those who have not been a Costco member (in any capacity, Primary, Household, or Affiliate) in the last 18 months.
Each membership includes one free Household Card, and holding one counts. If you were the second card on someone else's membership within the last 18 months, the banner's wording shuts you out.
Do this, in this order
- Check the 18 months for every adult who will be on the membership. The Refer-a-Friend terms put it as memberships, Primary, Household and Affiliate, that have been expired for at least 18 months. They add: “Limit one per household.”
- Decide whether a member is referring you, because you collect once either way. The join page offer needs no referral and is headed “Promotion Available Online Only”. Refer-a-Friend pays you the same amount, online or at a membership counter. Its terms say: “Nontransferable and may not be combined with any other promotion.” So expect $40, not $80. If a friend is a member, the referral route costs you nothing more.
- At a warehouse, say the words. “You and your guest must reference the Refer-a-Friend program to a Costco representative at the membership counter to receive this promotion.” Separate forms are required for each referral, the program is valid at any U.S. Costco location, and Costco employees are excluded.
- Set up auto renewal on a card Costco names, and give an email you read. The two pages name different cards, as set out below. A Visa satisfies both.
- Look for the email within 2 weeks, then guard it. Costco's Shop Card FAQ says Digital Shop Cards are occasionally intercepted by spam filters, so check that folder. It also says: “Costco is not responsible for lost or stolen cards and unfortunately, they cannot be replaced.” For a digital card, the link in the original email is how you get back to it.
- Know your exit. “On Membership: We will cancel and refund your membership fee at any time if you are dissatisfied.” Costco's help article says the Primary Member can speak with a team member at any warehouse membership counter and receive an immediate refund, or call Member Services at 1-800-774-2678. For what the guarantee covers on merchandise, see our Costco return policy guide.
What a Shop Card is, and is not
It is store credit. “Costco Shop Cards (physical and digital) are not redeemable for cash, except as required by law.” The FAQ then lists where a small remaining balance can be cashed out: less than $15 in CA; less than $5 in CO, HI, ME, MA, MT, NJ, OR and WA; less than $2.50 in TX; less than $1 in RI and VT. Asked whether Shop Cards are refundable, it answers: “No, Shop Cards are non-refundable.”
Where it spends. At any Costco in the United States, Canada or Puerto Rico, and online at Costco.com or Costco.ca. The FAQ says Shop Cards never expire and may be used toward a membership and merchandise. They do not work at Food Court kiosks for a digital card, at a cell phone carrier kiosk inside a warehouse, or for Same-day Delivery powered by Instacart.
Where Costco's pages disagree, and what it does not publish
Which cards count for auto renewal. The join page accepts a Visa credit or debit card or a Mastercard debit card. The Refer-a-Friend page says a Visa card and mentions no Mastercard.
What happens to the card if you leave. Nothing we read says whether you may switch auto renewal off once the card arrives, or whether Costco asks for the card's value back when it refunds a membership fee.
When the join page offer ends. Refer-a-Friend says: “Offer expires December 31, 2026.” The join page banner prints no end date, only that terms apply.
Executive and the Citi card. Costco's Executive rewards page promises “an annual 2% Reward, up to $1,250*” and warns: “The Reward is not guaranteed to be equal to or greater than the Executive upgrade fee paid.” 2% covers $65 only above $3,250 of qualifying spending a year. On a refund, “Any 2% Reward issued or accrued will be subtracted from the refund”. The $65 Citi offer's terms say “Online sign-ups at Costco.com must upgrade to the Executive Membership within the first 30 days of sign-up” and be approved, and “Qualifying members will receive their Digital Costco Shop Card within 4 weeks of Credit Card approval.” The Shop Card FAQ we quote was published 09/11/2026 and the return policy 10/02/2025.
Is it worth your time?
If you had already decided to join, yes. The whole job is choosing auto renewal and giving a working email at sign-up, and it turns a $65 first year into $45, if you count the card as money you would have spent at Costco anyway. The risk is small because Costco says it will refund the fee at any time if you are dissatisfied.
Do not join for the card. $20 does not make a $65 membership pay for itself; your shopping does that or it does not. Remember what you agreed to: the membership renews on your card by itself next year, at whatever the fee is then, unless you act first.
