These 3 Costco Perks Can Pay for Your Membership All By Themselves

A basic Costco membership costs $60, and if you're not a member yet, you might think this sounds like a lot of money out of your checking account simply for the privilege of shopping at a certain store. But there is so much more to Costco than shopping for food and other products in its warehouse clubs. In fact, there are several different perks to being a Costco member that can justify membership all by themselves.

1. Gas

Most Costco warehouse clubs have their own gas stations, and most estimates find that they charge about $0.20 less per gallon than other gas stations in the area. For a typical U.S. driver, the savings on gas can easily add up to more than $100 per year. And for a two-driver household, the savings can be over $200 annually. If you use the Costco Anywhere Visa® Card by Citi to pay, which offers 4% back on gas up to $7,500 per year, the savings can be even greater.

Of course, this assumes you take full advantage of the Costco gas stations and fill your car up there most of the time. But if you make a conscious effort to use this perk, it can more than pay for your Costco membership.

2. Travel

Costco sells travel packages to members. Not only do these generally beat competitors on price, but Costco also is an extremely convenient place to book travel, according to Fodor's. For example, Fodor's found that Costco often gives superior onboard credits when booking cruises and/or Costco gift cards. Upgraded rooms and credits on other forms of travel are also quite common.

While not all Costco travel deals are likely to be cheaper than you can book elsewhere, it's entirely possible to find a deal that includes added value that exceeds the cost of membership.

3. Pharmacy

As my colleague David Chang found, Costco has lower prescription drug prices than the major pharmacy chains, and Consumer Reports research confirms this. And while it's true that you don't have to be a Costco member to fill a prescription there, there is a Costco Member Prescription Program discount card that is a member exclusive.

According to Costco's website, the discounts from the CMPP depend on the drug, but can range from 2% to 40% or even more. Costco also offers pet medications, and these are also typically at lower prices than the competition.

There's more

These are just three examples of ways you can get tremendous value for your Costco membership fee, and there are certainly others. As a personal example, I fill propane cylinders at least four or five times per year at Costco, and it costs roughly half as much as it would to fill them elsewhere. Costco also offers gift cards for as much as 10% below their face value, which can save you a ton of money on things you were going to buy anyway.

But the bottom line is that your savings from Costco member perks can easily justify the cost of membership, and if you take advantage of several of them, it can quite literally result in hundreds of dollars in annual savings.