Costco memberships can benefit bargain shoppers and families, but sometimes it’s not a perfect fit. If you no longer wish to keep your Costco membership or want to downgrade to a lower level, there is the option to get a Costco membership refund. Costco allows this step to keep member satisfaction high with all membership levels, even if this means canceling your membership. If you decide to request a refund for your membership, here are two methods of doing so.

Related: How to Cancel Costco Membership

How Do Costco Membership Refunds Work?

There are two versions of a Costco membership refund: a complete refund or a downgrade to your current membership. 

Complete Refund

A complete refund means you cancel your Costco membership and can no longer shop at the warehouse. If you are dissatisfied with your Costco membership, Costco will refund your membership fee. The refund only applies to dissatisfied members, instead of those trying to take advantage of the refund for renewal purposes. 

Downgrading Your Membership

Another option is to downgrade your membership, which pertains to Executive members. These Costco memberships are the highest tier at Costco and cost $120 annually. If you don’t shop at Costco enough to reap the benefits of this higher-level membership, you can always bump back down to a Gold Star membership. Costco will refund you the difference and give you a new membership card. 

Check Out: Everything You Need to Know About Your Costco Membership Renewal

Can You Get a Costco Membership Refund at Any Time?

Costco membership refund: Gold Star card
Credit: Deposit Photos

The best thing about Costco is that you can request a membership refund any time of the year, regardless of your renewal date. This is because Costco has a 100% satisfaction guarantee, and if you’re not happy with your membership it comes at no cost to you.  

Where Do You Get a Costco Membership Refund?

If you are unhappy with your membership and want a refund, go into your local Costco warehouse and head to the membership desk. There they will ask you if you want to downgrade or completely cancel your membership. You might need to provide an ID while completing the process. Afterward, you will receive your appropriate refund. 

Also Read: What Is Costco’s Return Policy?

Sometimes wholesale memberships don’t fit your family or your lifestyle. Costco understands this, and along with their 100% guarantee, you won’t have to worry about wasting money with Costco’s refund policy.