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Reports: Sam's Club to raise annual membership fee

Sam’s Club-Health Care
Posted at 11:53 AM, Aug 31, 2022
and last updated 2022-08-31 15:37:28-04

It will soon be more expensive to be a member of Sam's Club.

The wholesale retailer is increasing the price of its annual membership, according to CNBC and Reuters.

Starting Oct. 17, club members will reportedly pay $50 annually. That's a $5 increase. The price for "Plus" members is also going up. CNBC reports their annual fee will be $110, an increase of $10.

According to Reuters, this is Sam's Club's first price increase for membership fees in nine years.

Costco, Sam's Club's main rival, still has more expensive annual fees. Costco's "Gold Star" membership is $60 annually. The "Executive" membership is $120 a year.