First, Costco shoppers pay to join, then get fee back in cash rebates

The Costco Wholesale warehouse in the Teterboro Landing shopping center off of Route 46 in Teterboro is bigger than the old Hackensack warehouse. Improvements include a separate entrance for merchandise returns, below.

By VICTOR E. SASSON
EDITOR

Costco Wholesale members gladly pay an annual fee of $55 or $110 to join the club, because they know they will get far more back in cash rebates.

This month, I received two reward coupons from American Express, which issues my True Earnings-Costco credit card.

They total more than $274, compared to my annual Executive Membership fee of $110.

The credit card itself has no annual fee.

The coupons include cash back on purchases at Costco, outside gas stations, restaurants and other stores.

I'll also be receiving a 2% cash rebate on my warehouse food, clothing and merchandise purchases from Costco -- a unique benefit of joining at the higher Executive Membership level.