A basic Costco membership costs $60 and gives you unrestricted access to Costco's product line. By contrast, an executive membership costs $120, so it's double the price of a regular membership. But in exchange for paying that fee, you get 2% cash back on your Costco purchases.

Costco has two main membership levels: Executive, which costs $120, and Gold Star, which costs $60. Executive membership gives you a 2% return on qualifying Costco purchases and discounts on services. If you spend $3,000 annually, or $250 per month, at Costco, it's worth upgrading to Executive.

Each membership includes a total of two cards per household (one card is free) and an annual membership that's valid at all Costo locations worldwide and online, but the specific features of each differ from tier to tier. There's also a price difference between the top-tier option and the others.