Costco does not offer senior discounts. Should you join anyway?

One of the good things about getting older (besides the wealth of knowledge you might accumulate) is that you get to enjoy a lot of senior discounts, whether it’s early bird specials at restaurants or discounted movie rates. But if you’re a senior thinking about joining Costco, here’s some bad news.

Costco, as a matter of policy, does not offer discounted memberships. If you want to join, regardless of your age, you want to pay $65 per year for a Gold Star membership or $130 per year for an Executive Membership (this gives you 2% cash back on your purchases).

At first, you might assume these fees aren’t worth paying if you’re a retiree on a fixed budget. But joining Costco could be a smart financial move, even if you want to pay full price. Here are some reasons why.

1. You can save a lot on gas

If you’re retired, you may not put as many miles on your car as someone with a full-time job and a long commute. But that doesn’t mean you’re home either.

In fact, not having a job to report to could mean your days are yours to enjoy. And that could mean driving all over for activities, whether it’s meeting friends for lunch, playing tennis, or checking out books from the library.

One of the big benefits of joining Costco is the savings you can enjoy on gas. Costco fuel is often the cheapest in town. And it’s high quality too. It has a TOP TIER designation, which means it’s formulated to clean your engine and help your car run smoothly.

So let’s say you use 10 gallons of gas per week and by filling up at Costco, which you can usually only do if you’re a member, you save $0.20 per gallon. That’s a savings of $2 per week. If a basic membership costs you $65, even if all you do at Costco is fill up the tank 50 times over the course of the year, you’re still out $35.

You can benefit even more from a number of Costco refills by swiping the right credit card. Click here for a list of credit cards with the best gas rewards.

2. You might spend less on groceries

Just because you’re an old person doesn’t mean you don’t have a full house to feed. Maybe you’re part of a multigenerational household with seven people living under your roof. Or maybe your older kids live 10 minutes away and tend to stop by for dinner during the week with your grandkids in tow.

If you do a fair amount of cooking, you may find it pays to buy certain products in bulk. And in this case, you can get big savings by stocking up on groceries at Costco.

3. You can save money on travel

If you’re retired, you may have more time to travel now than when you were working. As a Costco member, you have access to a ton of travel packages that could not only save you money, but also give you extra perks like travel credits or cash back in the form of Costco Shop cards (the version of the store gift card).

If you think you’ll be booking one or more trips a year through Costco, the Executive Membership is worth it. Although it costs $65 more than a Gold Star membership, it takes $3,250 in annual Costco spending to recoup the upgrade fee at a 2% rate. And you might book a single trip that takes you over that spending threshold.

Even if that doesn’t happen, if you book a $2,400 trip through Costco but go there once a month to stock up on groceries and household goods, you could end up spending over $3,250 in a year . So you can upgrade and earn some money too.

You might be upset that Costco doesn’t discount senior memberships. But there are still plenty of good reasons to join. And remember, if you’re not happy with your membership, Costco lets you cancel and get a refund at any time. So there’s really nothing to lose by giving it a try.