3 Costco Myths You Shouldn't Believe

If you're going to shop at Costco, there's a lot you need to know about how to get the best deals -- including the benefits of buying Kirkland brand products to keep your credit card bills down.

There's also some misinformation out there about the warehouse club that many people believe. You don't want to fall for these myths, because they could cause you to lose out on deals or make other mistakes that affect your personal finances.

Here's what you need to know about the realities behind three common Costco myths.

1. Everything is always returnable forever

One of the biggest misconceptions about Costco has to do with its return policy. See, Costco is well known for being generous about letting customers bring back products. Because of that, many people believe anything that you buy at the warehouse club is returnable forever.

The reality is that's not the case. Costco does have a 100% satisfaction guarantee and most products can be returned for a refund of the purchase price at any point, even a long time after you've bought the item. However, there are some important exceptions to know about.

Specifically, here are some of the biggest limitations for Costco returns:

• Electronics and major appliances typically must be returned within 90 days of the time you received the item.
• Cigarettes and alcohol can't be returned.
• Diamonds over 1.00 carats can only be returned if you have all of the original paperwork and the diamond must be examined for authenticity by a Costco gemologist within 48 hours.
• Products that were special ordered can't be returned unless there's a warranty claim and they don't meet specifications.
• Gold and silver (including bullions, bars, and coins) can't be returned.
• Costco Shop cards aren't refundable.
• Airline and live performance event tickets aren't returnable.

If you buy these items and expect you'll be able to bring them back any time, you're going to be disappointed. So be sure to test them out within the allowable time frame for returns.

2. Only members can shop at Costco

There's another common myth that only Costco members can shop there -- and that's also not true.

Anyone can shop at Costco.com regardless of club membership, although there's a 5% surcharge if you aren't a warehouse club member. You can also shop at the warehouse club if you're not a member if you have a Costco Shop Card (Costco's version of a gift card). So if you can get a member to buy you these cards, you can shop in a store any time.

3. Everything must be bought in bulk

Finally, the last big misconception is that everything must be bought in bulk. While it is true that many grocery and household items do come in large sizes, plenty don't. For example, you can buy a single rotisserie chicken, which is an extremely popular Costco purchase priced at just $4.99. Many seasonal items are also sold in smaller sizes.

Ultimately, you shouldn't buy into these Costco myths because they could prevent you from checking out what the store has to offer. Whether you're interested in snagging an online deal as a non-member or are hesitant about joining the club because you think everything is sized for families of 10, you should learn the truth so you can make a smart choice about your Costco habits based on the facts, rather than Costco legend.