(Updated 11/04/19) If you’re not regularly taking advantage of the Costco price adjustment policy, you’re absolutely leaving money on the table. While most loyal Costco shoppers are already aware that they don’t price-match other retailers, they absolutely do offer internal price adjustments if the price of an item drops after you purchase it. Here’s everything you need to know to take advantage of this great, yet often forgotten, Costco perk.
First Off, What’s a Costco Price Adjustment?
A Costco price adjustment is when you buy something from the Costco warehouse (or online) only to have the price of the item drop later.
In this case, you’re eligible for a price adjustment and refund for the difference in price.
Costco is known to lower their prices often, especially around Black Friday and December in effort to keep pricing competitive with places like Best Buy, Target, and Walmart.
Be sure to take advantage of this policy moving forward and get some significant money put back in your pocket.
How Much Time Do I Have to Get an Adjustment?
You have 30 days from the date of your original purchase to request a price adjustment.
Do I Need My Costco Receipt?
The short answer is “It Depends”.
Some Costco locations require a receipt for a price adjustment and some don’t.
If you have your original receipt, definitely bring it with you as they’ll print the adjustment price on the back of it.
If you lost your receipt, visit the customer service desk and ask for a duplicate receipt and they’ll happily look up your purchase on their computer and print one out for you.
Be aware that your mileage may vary when using the duplicate receipt to request a price adjustment. Some Costco locations are cool with it and some still require the original copy.
Moral of the story? Hold on to those receipts just in case.
Can I Get an Online Price Adjustment?
If you bought something from Costco.com and notice the price drops within 30 days, you can request a price adjustment.
To make it happen, you can either fill out this online form or call them at 1 (800) 774-2678.
You CANNOT go to the warehouse to get a price adjustment for something you bought at Costco.com. You must use one of the two methods noted above.
Be aware that the price adjustment they’ll give you will be the online price and not the current warehouse price.
This is important to note as the online price is usually a little higher to make up for shipping costs.
Are There Any Item Exclusions or Limits?
According to the Costco rep I chatted with, “No”.
Specifically, he told me “No, we have a satisfaction guarantee on products. Worst case we have you return the item and repurchase it. ”
Can I Request “Cash Back” on My Price Adjustment?
Great question. I had a Costco rep tell me “it’s up to the Warehouse to do the price adjustments. But as long as they approve it, I don’t imagine they will have issues giving cash back.”
So I’m guessing your mileage may vary but it’s definitely worth asking if you’d prefer cash to a charge-back to your credit card.
Price Adjustment Workaround
If for some reason Costco gives you grief about giving you a price adjustment you still have an option.
You can simply return the item and purchase it again at the lower price.
Because of Costco’s liberal return policy, which pretty much gives you unlimited days to make a return (90 days for Electronics), it’s easy to just return the item and buy it again.
A scenario where Costco might refuse your price adjustment is with a cheaper TV that’s a slightly different model than the one you bought.
The Costco employee might decline your price adjustment request for this reason, so simply return your TV and purchase the VERY similar model at the lower price.
Ask the Reader: Have you ever taken advantage of Costco’s price adjustment policy? If so, how much cash did you get back and was it an easy process?
By Kyle James