Costco is cracking down even further on card borrowing
On the heels of its move to pair membership cards with photo IDs at checkout, Costco is making more changes that will make it even harder for people to share their memberships with friends.
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00:00 Costco is cracking down on card sharing.
00:02 Some locations are implementing face scanners at the entrance of stores.
00:06 If you don't match the picture that pops up when your card is scanned, you could get turned away.
00:10 In a statement last June, Costco said we don't feel it's right that non-members receive the
00:15 same benefits and pricing as our members. Costco is able to keep our prices as low as
00:20 possible because our member fees help offset our operational expenses.
00:23 Costco charges a $60 annual membership fee to shop at its stores.
00:27 That price has been the same since 2017,
00:30 and many people have wondered when the company will increase it.
00:32 Although nothing has changed yet, last March,
00:35 CFO Richard Galanti told investors it's a question of when, not if.