Coscto Hikes Membership Fees; CA Customers To Pay More Annually

CALIFORNIA — For the first time in seven years, Costco is raising fees for its 52 million members.

The warehouse retailer announced Wednesday that regular annual memberships are rising from $60 to $65, while premium memberships will go from $120 to $130. The Washington-based company also said the maximum annual 2 percent executive member reward will rise from $1,000 to $1,250.

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The new fees go into effect Sept. 1 and will keep Costco fees higher than those of competing warehouse chains. A regular annual membership at BJ's Wholesale Club is $55, while the fee at Sam's Club is $50.

While the membership increase might be bad news for Costco customers, the company recently announced that it has no plans to raise the cost of its $1.50 hot dog combo. The price of that item has stayed the same since 1985.

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Costco currently operates 882 warehouses, including 609 in the United States and Puerto Rico.

As of May, there are 129 Costco stores in California, more than any other state. In fact, 22 percent of all U.S. Costcos are in the Golden State.