NEW YORK (
(COST - Get Report)is raising its membership fees by $5. Will you pay more to shop at the discounter?
It will now cost families and businesses $55 a year to shop at the wholesaler. The executive membership also will go up to $110 from $100 and the maximum 2% reward tied to executive membership will climb to $750 from $500.
Costco said the fee increases will affect a little more than 22 million members, about half of which are executive members.
This comes as everyone from
(NFLX - Get Report) to
Bank of America
(BAC - Get Report) are upping fees tied to their services.
In September, a 60% price hike went into effect for Netflix's popular DVD-by-mail and unlimited streaming subscription. It will now cost about $16 a month for access to both services.
And last week
, Bank of America said it will begin charging a $5 monthly
fee to customers who use debit cards to make purchases.
The moves by both companies, of course, ignited an uproar from irate customers, some of which vowed to stop using the services due to the price hikes.
Given this, will you pay more to be a Costco member? Take our poll and see what TheStreet readers are saying.
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