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5 Unbelievable (but True) Stories About Costco’s Famous Return Policy

By Money Management No Comments

Costco’s return policy is famously lax. Keep reading for tales of folks taking the company at its word. [[{“value”:”

Image source: Getty Images

One of the qualities that makes Costco so popular is its super generous return policy. Really, other than a few exceptions, most purchases can be returned pretty much any time.

For the majority of people, this means returning moldy cheese. Or maybe returning that malfunctioning coffee maker.

However, there is a subset of Costco shoppers who take that policy to its absolute limit. The shameless folks who will stretch the letter of the policy so far it simply boggles the mind. I tracked down some of these truly unbelievable tales and present you with five of the most outrageous.

1. The original big screen TV

Once upon a time, televisions were not the thin, light, compact pieces of technology we have hanging on our walls today. No, if you wanted a big screen TV in 2002, you got a hulking 200-pound monstrosity stuffed full of tubes and wires.

Not only were these TVs tough to move, but they’re even harder to get rid of — that is, unless you happened to purchase it at Costco. One excited Redditor happily shared a photo of such a TV that had been returned to Costco, ostensibly for a refund (though, according to employees in the comments, it may have also been exchanged for a new TV of similar size).

The age of the TV is important here, since Costco changed its return policy in 2007. Prior to the change, TVs were included in the blanket 100% satisfaction guarantee. After the change, TVs — and other similar large electronics/appliances — are limited to 90 days for returns or exchanges.

2. Mattresses of questionable condition

This is a story I’ve heard in many variations from a lot of sources. While it’s odd enough that Costco sells mattresses at all, those mattresses are actually covered under Costco’s very generous policy.

Indeed, so much so that I’ve heard accounts of mattresses being refunded not only after many years of use, but also in conditions that are…questionable, at best. (But really, it’s probably not a good idea to ask. You probably don’t really want to know what created those stains.)

3. Collegiate backyard playsets

Is there anything sweeter than watching the kids enjoying the outdoors on a backyard playset, expending all their energy so they actually go to bed on time? Perhaps it’s returning that playset when they graduate high school and head off to college!

Sound ridiculous? And yet, I’ve seen several stories on social media from employees and customers alike describing this very thing. So, really, I suppose the truly ridiculous thing is that it’s actually well within the bounds of the return policy.

4. The Grinch Who Returned Christmas

This is a common tale of sheer audacity being consistently rewarded: holiday item returns. I’ve yet to meet a returns agent who hasn’t had to accept returns for obviously-used holiday decor, food, or gear.

For example, I’ve heard dozens of people talk about seeing folks returning Christmas trees, lights, and ornaments just days after the holiday. I’ve even seen a story of someone returning fully cooked, fully eaten turkey carcasses (complete with empty stuffing boxes) the day after Thanksgiving.

Another variation on the theme is the vacation “rental.” Folks who buy beach or camping gear when they get to their vacation destination, then return it before they head back home. Despicable.

5. The pet bed Fluffy passed in — Fluffy included

Content Warning! Super gross.

I’ll be honest, this one made even my jaded-by-retail eyebrows rise. But if one Redditor is to be believed, they witnessed a customer return what he stated was a pet bed. Now, the bed was apparently well-sealed in a black garbage bag, and the man refused to open it. He was quite adamant that the customer service folks not open the bag, either.

Well, pretty much any store — yes, even Costco — will insist on actually looking at the item you want to return. They need to verify that it is, in fact, the stated item.

When the staff opened the bag, they indeed found the pet bed. They also found the pet, who had apparently passed away some time ago, as the remains were covered in…let’s just call it “insect life” and let it go at that, huh?

According to the witness, the fellow got his refund. (Though I sincerely hope he thinks twice about getting any more pets.)

How far is too far?

There’s a fine line between being impressed by someone’s chutzpah — and absolutely appalled at their entitled audacity. I’m not even entirely certain where I draw that line, but that’s not important. What’s important is, where does Costco draw that line?

In general, if it’s within the bounds of the return policy, Costco will accept your return. The company takes that “100% Satisfaction Guarantee” pretty seriously.

However. If you are recognized as abusing the return policy, Costco can (and will) take action:

Limiting your purchase/return ability: If you overuse the return policy for specific items, such as frequently returning electronics or food, then you may lose return privileges for those items. In some cases, I’ve heard of Costco restricting your ability to buy certain types of items.Revoking your membership: If you really push it, Costco may choose to cancel your membership entirely. And yes, this is absolutely within Costco’s rights as a private business.

From what I can gather, there is no official “line in the sand.” But a general rule of thumb is that Costco will act if a member is returning 50% (or more) of the purchases they make. Whether that’s consistent across stores, or even if that’s by quantity or purchase amount, is unclear. Just use common sense and you should be fine.

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If you’re shopping with a debit card, you could be missing out on hundreds or even thousands of dollars each year. These versatile credit cards offer huge rewards everywhere, including Costco, and are rated the best cards of 2024 by our experts because they offer hefty sign-up bonuses and outstanding cash rewards. Plus, you’ll save on credit card interest because all of these recommendations include a competitive 0% interest period.

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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.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.Brittney Myers 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.

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Should You Ever Say Yes to a Store Credit Card?

By Money Management No Comments

When you make a purchase in a store, it’s common to be offered a store credit card. Keep reading to learn when it’s the right choice for you. [[{“value”:”

Image source: Getty Images

Think back to the last time you were in one of your favorite stores. Did the cashier ask if you’d like to apply for a store credit card as you checked out? If so, you’re not alone. Retailers know that if you have a store credit card, you’re more likely to shop there, and cashiers are encouraged to tout the benefits offered to cardholders.

Typically, if you apply and are approved for a card, you’ll receive an instant discount on that day’s purchase. As tempting as it may be, is it ever a good idea to say yes? Let’s take a closer look at the pros and cons.

Featured offer: save money while you pay off debt with one of these top-rated balance transfer credit cards

Pros

There’s no doubt that store credit cards can have a lot going for them.

1. Easy credit

If your credit score is low, you may find it easier to qualify for a store credit card than a traditional card. Even though credit card issuers don’t advertise the specific score needed to qualify for a retail credit card, real-life approval rates indicate that some store cards approve applicants with poor credit (a FICO® Score under 580). If you’ve grown frustrated by trying to land a credit card, easy credit can be quite attractive.

Insider tip: It’s important to remember that some major credit card issuers offer cards to applicants with low credit scores and that retail cards are not your only option.

2. Opportunity to build your credit score

A store credit card gives you the opportunity to establish or improve your score if you’ve struggled in the past or are building credit for the first time. Making payments on time each month and maintaining a low credit utilization both contribute to raising your credit profile.

3. Attractive discounts and perks

Store credit cards are designed to develop a loyal customer base. One way retailers keep shoppers coming back is by offering discounts and rewards to those who hold store cards. Everyone wants to feel special, and what’s more special than receiving special discounts, extended shopping hours, and perks like free gift wrapping?

3. Financing options

Some stores offer sweet promotional financing to cardholders. For example, an appliance store may offer an interest-free period to those who purchase a refrigerator or washer-dryer combo. Another may offer the same interest-free period to anyone who uses their store credit card to buy a living room set. This feature could appeal to an individual who wants to make a large purchase but pay for it over time without accruing interest.

Cons

Despite several appealing features, it’s worth examining the underbelly of store credit cards.

1. High interest rates

Store credit cards tend to carry higher interest rates than the best traditional credit cards. The average APR for traditional cards in the first quarter of 2024 was 21.59%, the highest since the Federal Reserve began tracking card rates in 1994. At the same time, nine of the largest credit card issuers in the country reported offering at least one credit card with an annual rate of over 30%, but here’s the rub: Most of the sky-high interest rates were assigned to cobranded cards offered through retail stores.

2. Temptation to overspend

The continual barrage of promotions and discounts can entice a person to make purchases they could easily live without. This is especially true of emotional spenders who risk their checking account balance to feel better — if only for a short time.

3. Limited use

Unlike a traditional credit card, many store cards are closed-loop, meaning they can only be used at specific retailers or affiliated stores. This limitation can make it tempting to open new accounts with other retailers. In addition, a store card isn’t useful in an emergency situation. Let’s say you’re away for the weekend and your car breaks down in a strange town. You haven’t gotten around to building an emergency savings account, but need a way to pay for repairs. No auto repair shop is going to accept a Home Goods or Nordstrom-labeled credit card.

4. Once the card is in your wallet, you’re stuck with it

There’s something to be said for taking time to carefully consider whether you want to apply for a specific credit card. That can be tough to do when you have the earnest gaze of a very nice cashier waiting for you to decide.

Unfortunately, once you have a card in your wallet, canceling it can damage your credit score by decreasing your credit utilization ratio. Credit utilization ratio refers to how much credit you have available to you vs. how much you’re using. You want to use as little of your available credit as possible at any given time. For example, owing $100 on a card with a $3,000 spending limit is better than owing $2,500 on the card.

Applying for a store credit card is entirely up to you. However, it pays to understand that these cards come with downsides. If you really want a traditional credit card with a lower interest rate that can be used anywhere, your best bet is to apply for one. If your credit score isn’t quite up to snuff to qualify, there are plenty of steps you can take to give your score a boost.

Ultimately, the best credit cards leave you with more money to tuck away in a savings account each month, build your credit score, and bail you out of emergency situations.

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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.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.Dana George has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

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9 Everyday Problems You Can Solve With Vaseline

By Money Management No Comments

 Forget expensive specialty products. Good ol’ petroleum jelly can address many common annoyances. Mashka / Shutterstock.com

Advertising Disclosure: When you buy something by clicking links on our site, we may earn a small commission, but it never affects the products or services we recommend. One day in 1859, a chemist named Robert Chesebrough visited Titusville, Pa. He noticed that oilfield workers were using something they called “rod wax” to dress minor skin wounds. Rod wax was an oil-drilling byproduct.

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High Schoolers Can Join Planet Fitness for Free This Summer

By Money Management No Comments

Are you looking for free and low-cost fun for your high schooler to enjoy this summer break? Find out how they can get a free summer gym membership. [[{“value”:”

Image source: Getty Images

Summer vacation is almost here. For teens looking for something fun to do with their extra free time, the Planet Fitness High School Summer Pass is returning. Starting June 1, teens aged 14 to 19 can work out at Planet Fitness for free. This program can help high schoolers stay active until school is back in session and makes summer fun more affordable.

Free summer fun begins on June 1

Planet Fitness’ free summer membership for teens, High School Summer Pass, is returning for summer 2024. From June 1, 2024, through August 31, 2024, teens ages 14 through 19 can get active at Planet Fitness for free without paying membership dues.

Teens under 18 must have a parent or guardian sign a waiver during sign-up. This offer applies to all Planet Fitness locations in the U.S. and Canada, excluding Puerto Rico. Planet Fitness has over 2,400 locations nationwide.

The popular fitness center company has strength training and cardio equipment, so there’s something for everyone. A Planet Fitness membership also includes access to fitness classes, so your high schooler can take classes, too. Class schedules for your local Planet Fitness gym can be found within the Planet Fitness mobile app.

Here’s how to join in on the fun

Not having to pay gym membership fees is a personal finance win for your family.

If your teen is interested in this program, here are the steps that they’ll need to take:

Pre-register by signing up online or in-club. Students under 18 must have a parent or guardian sign the waiver.Download the Planet Fitness mobile app and create an account using the email that was used during the pre-registration process.Beginning on June 1, 2024, use your free digital pass found in the Planet Fitness app to work out for free through Aug. 31, 2024.

When signing up, make sure you choose your closest Planet Fitness club. Once enrolled, program participants only have access to the club selected during enrollment.

Is this a good deal?

Finding affordable activities and events for your teen to participate in during summer break can be challenging. So a free fitness center membership that includes access to fitness equipment and classes is valuable.

Planet Fitness membership costs vary depending on the location and membership type. Planet Fitness offers two memberships, Classic and PF Black Card. The Classic membership offers standard perks, while a PF Black Card member provides extras like access to massage beds, guest passes, and more.

According to Planet Fitness, Classic memberships start at $10 per month. I investigated prices in the Pittsburgh area, and the Classic membership costs $15 per month, plus taxes and fees.

That means gym goers in Pittsburgh typically pay a minimum of $45 in membership fees to work out at Planet Fitness for three months. The Planet Fitness High School Summer Pass is a worthwhile deal for teens and their families.

Look for ways to save on summer fun

Summertime fun shouldn’t result in an expensive credit card bill. This program is one example of a free activity your teen can participate in during summer vacation. If you’re on a tight budget and want to keep activity costs to a minimum, keep alert for opportunities like this. While you’re at it, check whether your local community center or library hosts free or low-cost summer fun for kids and teens.

You might also consider using one of the best budgeting apps to reduce spending in other areas and free up extra income for summer events and outings. These apps can help you identify ways to reduce extra costs and set spending limits to maximize your dollars.

Alert: highest cash back card we’ve seen now has 0% intro APR until 2025

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Click here to read our full review for free and apply in just 2 minutes.

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.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy.

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Are You a Freelancer Who Doesn’t Understand Business Banking? You Might Regret That

By Money Management No Comments

A business checking account can help protect your finances in case of a lawsuit. Read on to learn more about the perks that come with these accounts. [[{“value”:”

Image source: Getty Images

Running a freelance business comes with many challenges, from finding clients to figuring out how to manage working from home without succumbing to the potential pitfall of working from bed. Then there’s the additional hurdle of handling your finances. Even if you know the basics and can manage the ups and downs of freelance income, you may be missing out on a huge opportunity if you don’t have a business checking account.

Here are two key reasons why you should look into getting this type of account, and what you need to open one.

1. Business checking can protect your personal assets

You don’t have to separate your business from your personal finances to be successful. But if your business ever runs into a lawsuit, your finances could be in jeopardy — especially if you have your spending cash commingled with your business finances.

So what’s the solution? Opening a business checking account.

By having your business funds separated from your personal finances, your personal income can be protected from litigation — though that’s typically in a limited capacity. Regardless, it’s never fun to think about being the subject of a lawsuit, but at least this way, you have some peace of mind knowing that your personal checking account and savings account will be safe.

2. You’re missing out on extra perks

Depending on the bank you open a business checking account with, you could get access to a bevy of perks that could translate to more cash in your pocket. For example, you may get an account opening bonus, which can be $200 to $300 or more. (Just keep in mind that you may have to complete certain actions, like depositing a certain amount into the account, to qualify for those.) For reference, a $300 bonus on an account with a $10,000 balance would translate to a 3% APY. (That’s assuming the account doesn’t also earn interest.)

You can also build your business’s credit history and establish a relationship with that bank, which can help you access key tools like business lines of credit in the future. That can be especially helpful if your business requires you to invest in physical assets to function or you use subcontractors. Plus, having a separate account for all of your business income and costs means that it’s much easier to do your taxes.

How to get a business checking account

To open a business checking account, you’ll have to have the following information on hand:

An Employer Identification Number (EIN) or a Social Security number (if you’re a sole proprietorship)Your business’s formation documentsOwnership agreementsBusiness license

You may be asked to provide additional information, depending on the bank you select.

A business bank account can be a vital tool for freelancers, providing protection from lawsuits as well as financial perks that can get you a leg up on the competition. Just make sure you do your homework and can meet the account requirements and capitalize on your account perks.

Alert: highest cash back card we’ve seen now has 0% intro APR until 2025

This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!

Click here to read our full review for free and apply in just 2 minutes.

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.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy.

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5 of the Best Costco Products to Stock Up On for Summer

By Money Management No Comments

Costco’s summer deals have already begun. Check out five great Costco products to buy for the summer heat. [[{“value”:”

Image source: Getty Images

Ah, finally, summer is here. Time to break out the tank tops and swimming trunks and pack up the ice scrapers and floor heaters. Where I currently live (Oregon), the rainy weather has finally subsided and the days are filled with sun, sun, and more sun.

To be fair, my local Costco has been preparing for this moment for quite some time, replacing the old winter jackets and sweatshirts with short sleeves and sandals even before our local temperatures broke 70 degrees. But now that summer is in full swing, my Costco has a full stock of warm weather products. If you’re looking to save money this summer, here are five Costco products to buy.

1. Off! Insect repellant

Price: $18.99 (in-store)

If you live where the mosquitoes like to bite, now might be the time to get your mosquito spray before the swarms come out of the swamps. At Costco, you can buy a three-pack of Off! Deep Woods Insect Repellent for $18.99. This pack comes with two 6-ounce containers and one 4-ounce container. It can repel ticks, mosquitoes, chiggers, and gnats, among other insects.

2. Gatorade

Price: $18.99 (online)

For about $19, you can buy 28 bottles of Gatorade. That’s eight Fruit Punch, 12 Lemon Lime, and eight Orange. This is one of the lowest prices on Gatorade you’ll find. For comparison, Walmart sells the same pack of Gatorade for $29.99, while Amazon sells an 18-pack of the same flavors for $13.99. In fact, the only retailer that has a significantly lower price is Sam’s Club, which sells 28-packs of Gatorade for $15.78.

3. Scotts Max Lawn Food

Price: $53.99 to $59.99

Fertilizing your grass keeps it looking healthy and green, but it’s not cheap. At Lowes, you can buy 10,000 square feet of Scotts Green Max Lawn Food for $65.98, while Ace Hardware sells half as much for $37.99. Meanwhile, Costco sells 14,000 square feet for an ultra-low in-store price of $53.99, or $59.99 online. I’ve even seen a special on this particular brand of lawn food that brought the price down to $42.99.

4. Ortho Home Defense Insect killer

Price: $29.99

Insect repellent can keep the bugs away when you’re outside, but for those critters that like to sneak indoors, you’ll need to buy insect killer for your home. Costco sells two 1.33 gallon jugs of Ortho Home Defense insect killer for $29.99. Last time I was at my local Costco, I even saw these jugs on sale for $23.99. That in-store price would beat Walmart, which currently sells a single 1.33 gallon jug for a sale price of $12.80.

5. Country Time Lemonade

Price: $10.99

After killing bugs and spreading fertilizer on your grass, you’ll need something to quench your thirst. Country Time Lemonade powder comes in a tall 82.5 ounce container that looks as if it was designed to hold tennis balls. Although there are cheaper lemonade powders out there, this is a good price for the Country Time brand name. Walmart, for example, sells the same size Country Time Lemonade for $16.88.

All in all, Costco’s deals can help you budget for your summer expenses. If you plan to stock up on any of these in large quantities — like, if you’re planning to feed a baseball team — consider getting an Executive membership ($120 annually). You’ll earn 2% in cash back on up to $1,000 in total rewards each 12-month period. The rewards can add up for summer expenses, especially if you’re planning to buy a vacation package through Costco Travel, as that, too, will earn 2% back.

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

If you’re shopping with a debit card, you could be missing out on hundreds or even thousands of dollars each year. These versatile credit cards offer huge rewards everywhere, including Costco, and are rated the best cards of 2024 by our experts because they offer hefty sign-up bonuses and outstanding cash rewards. Plus, you’ll save on credit card interest because all of these recommendations include a competitive 0% interest period.

Click here to read our expert recommendations for free!

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.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. The Motley Fool has positions in and recommends Amazon, Costco Wholesale, and Walmart. The Motley Fool has a disclosure policy.

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