Read the title as a question, my answer is YES.
For regular member, the membership fee is $55 a year. Including Business member and Gold Star member. There is no rebate for these membership account.
For Executive member, the membership fee is $110 a year. With 2% reward ( maximum $750 a year), and some Coupons for executive member only ( it gives more instance saving while shopping).
I am also using American Express Platinum Cash Rebate credit card which is issued with Costco Wholesale. It has up to 2% rebate(max $500). Note: No annual fee for it.
So it looks great. pay $55 more to get Costco Executive Membership and save more.
Let me show you a sample below:
Annual Total Spending: $10,000
In January, American Express will issue the rebate based on above.
First $2,000, Rebate 0.25% = $5.00
$2,001 to $5,000, Rebate 0.5% = $15.00
above $5,001, Rebate 1.5% = $75.00
Total American Express rebate is $95.00. It is a cheque, came with the Jan statement. I can use it in Costco store, or just cash it there.
In June, Costco will issue the 2% reward coupon based pn above.
So, Rebate 2% = $200.00
Now, add up all rebates, total is $295.00. Spend $55 more on membership fee, and get $295 rebates and more. Costco Executive Membership is worth it.
For me, it is easy to reach the annual spending $10,000. Actually I go to costco almost every week.