Making a Big Costco Purchase? Here's Why You Might Want to Wait Until Thanksgiving Day

Costco has tons of great Black Friday deals that will give your credit cards a workout. In fact, you can take advantage of some sales that have already started.

But, if you're considering making a really big purchase at the warehouse club, you may want to keep the money in your bank account for a little longer and wait for Thanksgiving Day. Here's why.

Could waiting help you score more savings on your Costco purchases?

If you want to maximize your savings on your big Costco purchase, waiting until Thanksgiving Day could pay off for a simple reason: Costco is running a special promotion.

Specifically, the warehouse club is offering $50 off of a $500 purchase. This deal is valid only on Nov. 23, 2023, though. This means you will not be able to use it until Thanksgiving Day.

Since Costco is closed on Thanksgiving, you need to use the $50 off coupon online. The coupon also indicates it is good for online purchases only. This is a bit of a bummer, since Costco's online prices tend to be higher than those offered in-store.

Still, coupons like this aren't super common at Costco and $50 off a $500 purchase is a pretty substantial amount of savings that may more than offset any added premium you pay for the privilege of buying online.

Costco has indicated that the $50 off coupon is good only on qualifying items and the website doesn't yet specify exactly which items fall within that category. In the past, when Costco has offered similar coupons, some of the items excluded were:

• New memberships and membership renewals
• Costco gift cards
• Same-day grocery delivery
• Pharmacy orders
• Travel purchases
• Custom installation services
• Costco business delivery

Most items you're interested in buying will likely be fair game if Costco follows a similar policy. You are allowed just one coupon per member, though, so you'll want to be smart about what big purchases you make so you can make the most of it.

If you were thinking of becoming a Costco member, joining to take advantage of this deal may also make sense if you're going to immediately make a large purchase. After all, the entry-level Costco membership costs just $60 and if you get a $50 off $100 coupon, that $50 in savings would defray almost the entire cost of joining and you'd benefit from your membership for the next year.

Should you take advantage of Costco's big coupon to save?

If you're planning on buying more than $500 worth of Costco items, it makes little sense not to take advantage of this coupon -- unless the items you're purchasing are likely to be ineligible or a lot costlier online than at your local warehouse club.

You need to be aware, though, that Costco has some Black Friday deals going on already that come with deadlines. If you want to take advantage of any of Costco's early Black Friday sales, check the dates for when those promotions end and make sure you won't be passing up a special bargain by waiting.

The good news is, there are so many deals to be had this time of year, saving $50 off $500 is just the tip of the iceberg.