Image source: Getty Images

In September, Costco raised the cost of its membership fees after keeping them steady for more than seven years. That took the cost of a Gold Star membership from $60 a year to $65, while the cost of an Executive membership rose from $120 to $130.

If you weren’t happy with that fee hike, you may have canceled your Costco membership. But here are a few reasons to reconsider — and pay the higher price to rejoin.

1. The savings on gas alone might pay for your membership fee

Canceling your Costco membership is the right move when you’re not going to use it. So if you’ve decided it doesn’t make sense for you to buy groceries in bulk, then you might assume there’s no sense in paying for Costco access.

But if you drive a car and live near a Costco, you can easily justify the cost of a membership with the savings you get on gas. Not only does Costco sell some of the cheapest gas in town, but its fuel is TOP TIER certified, which means it’s designed to clean your engine and lead to better performance.

Let’s say you put 12 gallons of gas in your car each week, and that filling up at Costco saves you $0.20 per gallon. That’s $2.40 in savings per week. And if you snag that savings for 52 weeks during the year, it’s a total of $130.

That covers the entire cost of an Executive membership. And it easily justifies a $65 Gold Star membership.

2. You can score discounted gift cards right in time for the holidays

If you’re scratching your head trying to figure out what gifts to give out this holiday season, you may want to turn to gift cards for simplicity. But if you’re going to hand out gift cards, you might as well spend less on them. And that’s where Costco comes in.

Costco carries a wide range of gift cards that are discounted below their face value. Some of the deals you’ll find now include:

• Four $25 Domino’s gift cards for $74.99
• Five $15 Subway gift cards for $59.99
• Four $15 Krispy Kreme gift cards for $44.99

If you have Costco’s Executive membership, gift card purchases score you 2% cash back on top of the savings you get from their discounted value.

And if you don’t want to pay for an Executive membership, you can still earn plenty of cash back at Costco by using the right credit card when you shop there. If you like the sound of that, check out this list of the best credit cards for Costco.

3. You can snag a great deal on your next vacation

You may not associate shopping at Costco with going on vacation. But did you know that Costco Travel offers a wide range of vacation packages at competitive prices?

When you book a Costco vacation, you get the benefit of seasoned travel professionals who can help you choose the right itinerary. And booking through Costco often means not just saving money on your travels but scoring extra perks, like free resort credits. If you’re able to save $200 on a vacation by booking it through Costco, that alone makes the case to pay the membership fee.

Nobody likes to see their expenses go up. So if your reaction to Costco’s September fee hike was to cancel your membership, that’s understandable. But given the benefits a Costco membership offers, you may want to reconsider and pay a slightly higher fee to avoid losing out on numerous perks like these.

Top credit card to use at Costco (and everywhere else!)

We love versatile credit cards that offer huge rewards everywhere, including Costco! This card is a standout among America’s favorite credit cards because it offers perhaps the easiest $200 cash bonus you could ever earn and an unlimited 2% cash rewards on purchases, even when you shop at Costco.

Add on the competitive 0% interest period and it’s no wonder we awarded this card Best No Annual Fee Credit Card.

Click here to read our full review for free and apply before the $200 welcome bonus offer ends!

We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
Motley Fool Money does not cover all offers on the market. Editorial content from Motley Fool Money is separate from The Motley Fool editorial content and is created by a different analyst team.Maurie Backman has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Costco Wholesale. The Motley Fool has a disclosure policy.