Costco Price Adjustment: How to Get Money Back

Costco offers some superb monthly deals inside their Costco coupon book, plus online instant savings events that pop up from time to time. But with all these Costco deals flying around, what happens if the price drops on something after you buy it? Can you ever get some money back? You can — and that's where the Costco price adjustment policy comes into play.

Now, I need to warn you that Costco price adjustment is not the same thing as Costco price match (but there are some retailers who will price match Costco). And you'll need to follow a few simple steps to actually request a price adjustment at Costco. But once you understand the basics, I bet this will become one of your favorite Costco price hacks.

I combed through the official Costco price adjustment policy (as well as the Costco return policy) and pulled out all the important details you need to know.

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Costco Price Adjustment vs. Price Match

Before we get into the details of the Costco price adjustment policy, it's important to understand that a price adjustment is not the same as a price match, regardless of where you shop.

Here's how the two types of money-back situations compare:

• With a price adjustment, a retailer offers a refund for the difference in price between what you paid and a later sale price. Price adjustments only compare two prices from the same retailer, and the policy usually has a time limit (for Costco, it's 30 days).

• With a price match, a retailer offers a refund for the difference in price between what you paid and a competitor's lower price. There are many stores who price match competitors, but unfortunately, Costco isn't one of them.

What is the Costco price adjustment policy?

According to the fine print of the Costco price adjustment policy, if the price on something drops after you buy it, Costco will reimburse you the difference if you request a price adjustment within 30 days. The reimbursement comes in the form of a refund back to your original form of payment.

They do make an exception for resellers, though. If you're a reseller, you can't claim a price adjustment under the policy at all. You'll only receive a lower sale price if you purchased the item during the actual sale window.

Note: The only items you can never get price adjusted at Costco are gold bars, gold bullion, and silver coins.

How To Request a Costco Price Adjustment

You have two options for requesting a Costco price adjustment: in-store or online. The option you choose must match how you purchased the item.

In-Store Purchases

For an item you purchased in the warehouse, you’ll need to visit the membership counter at the warehouse where you made the purchase.

Just make your way to the Returns desk, and they’ll issue you your reimbursement right on the spot.

Online Purchases

For items purchased on Costco.com, you'll need to fill out an online form on Costco.com to request a price adjustment.

Once you submit the form, you’ll get an email that your request was approved (or denied). This process usually takes about five to seven business days. The last time I requested a price adjustment with Costco, I received my refund in five business days.

Here’s what you'll need for the online Costco price adjustment form:

• Date of purchase (month and year)

• Order number

• Membership number

• Item number for the product

• The price you paid for the item

• Current online sale price of the item

• Status (whether or not it’s been shipped)

TIP: While there's no dedicated Costco price adjustment phone number, you can try calling their customer service team at 1-800-955-2292 to start a price adjustment for online purchases by phone.

Things to Keep in Mind About Costco Price Adjustment

You only have 30 days to request a price adjustment.

While the official policy says you only have 30 days, I have heard of situations where Costco will price adjust after 30 days (like on day 33). But it’s all up to the warehouse manager or the representative who receives your online form.

I’d ask politely, and you may be surprised to learn they’ll honor a price adjustment after 30 days.

Here’s my recommendation: If you’re spending big bucks on something from Costco — like a kitchen appliance, laptop, or living room furniture — set a calendar reminder to check the price periodically for the next 30 days after your purchase. I’ve seen prices drop by as much as $500 on big-ticket items (like during a big Costco Furniture Sale). If you see the price go down, request that price adjustment and get some money back in your pocket!

Costco won't match warehouse prices online (and vice versa).

While there’s no price limit or product restriction on what you can get adjusted at Costco, you can only adjust it the same way you purchased it.

So if you bought an item at the warehouse, they will only adjust the price to match the lower warehouse price (within 30 days of your purchase, of course). The same goes for items you order from Costco.com. They’ll only match the lower online price in that case.

Costco does have the right to deny a price adjustment at their discretion. If this happens, you can opt to return the item with the Costco return policy and repurchase it at the lower price. You do run the risk of an item being out of stock, though.

Keep in mind: Costco's in-store prices are typically lower than their online prices, even for the same exact item. But sometimes it may be worth it to shop online if you don't live near a warehouse. Just make sure you check for a price drop online within 30 days of your purchase!

What happens if you lost your receipt?

The wonderful thing about shopping with your Costco membership is that all of your receipts are saved to your membership account. So don’t sweat it if you need to ask for a price adjustment but you can't find the paper receipt. They'll honor a Costco price adjustment with no receipt.

The Costco employees at the refund counter can look up your transaction, or you can find the receipt in your Costco app.

How to find receipts in the Costco app:

1. Select "Account" from the bottom menu of the Costco app.

2. Select "Orders and Purchases."

3. Choose "Online" or "In-Warehouse" to see your recent orders.

Use the Costco price adjustment policy to save during Black Friday.

With the Costco price adjustment policy, you have 30 days to ask for a price adjustment. This means that you could do all your gift shopping within 30 days of Costco Black Friday sales, and then if any prices drop within 30 days after you shop, you can submit reimbursement requests to take advantage of the sale prices.

This policy is amazing, since so many other retailers freeze their price matching and price adjusting during the holidays. It’s also a great way to ensure you get what you want at a Black Friday price before it sells out.

Related: We did a deep-dive into the Costco Trade-In Program that promises Costco gift cards in exchange for your old tech devices.

Sources:

• Costco: "Does Costco price match with other retailers?"

• Costco: "Price Adjustment - Costco.com Orders"

• Costco: "Why do prices vary between Costco locations?"