KEY POINTS

• Right now, a basic Costco membership costs $60, while an Executive membership costs $120.
• The last time Costco raised its fees was June 2017.
• Costco's CFO said earlier this year that fees will go up at some point, but that doesn't mean it's going to happen in the next few months.

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If you've ever marveled at the amount of savings you're able to enjoy by shopping at Costco, you should know that a big reason the warehouse club giant is able to offer such competitive prices is through its membership fees. It's revenue from those fees that allows Costco to pass savings onto customers in the form of low-cost groceries, household essentials, and a host of other items.

Right now, a basic Costco membership costs $60, while an Executive membership costs $120. The upgraded membership gives you 2% cash back on all Costco purchases, while a basic membership does not.

But there's been talk of a Costco fee hike in recent months, and for good reason. The last time Costco raised its membership fees was June 2017. Back then, the cost of a basic membership increased from $55 to $60, while the Executive membership fee rose $10 from $110 to $120.

Prior to 2017, Costco raised membership fees in 2011. So the cadence for fee hikes seems to be around every six years or so. At this point, we're beyond six years since Costco last increased the cost of memberships. And that's why customers need to brace for an upcoming fee...

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