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The Costco Price Adjustment Policy You Absolutely Need To Know About

Costco membership card
Costco membership card - Andy.LIU/Shutterstock

Further proving that Costco prioritizes customer service, a Reddit user discovered a surprising policy at the chain. According to the Costco member's post, the warehouse retail chain provided a Costco Shop Card with a value of $20 because the price of a product had decreased since the sale date. According to a letter accompanying the card, Costco "negotiated a better price" and was subsequently "passing the savings" to the customer.

A commenter, who stated that they work for Costco, explained that this policy is mostly intended to ensure that people keep shopping at the store. Per the commenter, a refund of $20 is nothing compared to what a person might spend at the chain during a single shopping trip. By forging a strong relationship with its members, Costco boosts customer loyalty to ensure a healthy bottom line. As for shoppers, they feel appreciated when a chain provides an unsolicited refund. However, members can also pursue their own price adjustments if they notice a product's cost has decreased.

Read more: The Reason Why Costco's Kirkland Signature Products Are So Cheap

You Can Request A Price Adjustment Using Three Methods

Costco.com signage in store
Costco.com signage in store - gg5795/Shutterstock

Members seeking a price adjustment for an item purchased in-store can visit the location's return desk to inquire about a refund. If the purchase was made via the website, members are asked to complete a form online. To fill out the form, you'll either need to log in to your existing Costco account or create a new one. Upon submitting the form, you can expect the refund within 7–10 business days if it's approved.

When it comes to price adjustments for online purchases, a Reddit commenter suggests a third method. They say that it can take time to process online forms since the store probably receives quite a few each day. On the other hand, calling the online customer service line can result in an immediate refund, provided that the price difference is under $100. However, your mileage may vary, so be patient if the refund takes a few days to appear.

Important Facts To Consider When It Comes To Price Adjustments

three people shopping at Costco
three people shopping at Costco - Justin Sullivan/Getty Images

Costco members must request their price adjustments during a certain period to be eligible, and that period is 30 days before the item goes on sale. Any purchases made outside of that window are not eligible for adjustment. Additionally, you cannot request a refund if you find that an online price is different than an in-store one or vice versa.

Some items are also ineligible for price adjustments, such as gold bullion — as surprising as it may be, the chain actually sells gold bars, but they are unfortunately not eligible for returns or refunds. Also, Costco is free to deny a price adjustment as it sees fit and may also place restrictions on price adjustments. In this case, the chain will typically post a notice informing members of restrictions, either online or in-store. While it will cost you to be a loyal Costco member in the form of yearly fees, the store's price adjustment policy shows that membership has its privileges.

Read the original article on Daily Meal.