Unfortunately, yes. The requirement for the card is that you have to hold an active membership, since it is specifically tailored to Costco members.
Yes, it'll be cancelled immediately, and he'll probably lose his cash-back rewards.
@Gunnerboy wrote:Yes, it'll be cancelled immediately, and he'll probably lose his cash-back rewards.
Correct. He will forfeit all cash back accrued YTD.
@wasCB14 wrote:While the idea of canceling a Costco membership would be blasphemous in my family, I have heard anecdotes on here of people keeping their cards for something like 12-18 months after canceling the membership. I don't know if they ever found a way to redeem the rewards after canceling, though.
But again, not something I've done or seriously explored doing, so not something I'm at all certain about.
Full related T&Cs:
Costco Membership: The Card Account is only available if you have a current Costco membership in your name. We may cancel your Card Account and participation in the Costco Cash Rewards Program if you do not maintain your Costco membership. You must maintain your Costco membership to redeem Costco Cash Rewards earned with the Card Account. Each authorized user must also have a Costco membership in his or her name.
Account Closure: If we close your Card Account, you will no longer be able to earn Costco Cash Rewards, and you will forfeit any Costco Cash Rewards accumulated, but not yet distributed. If you close or convert your Card Account prior to receiving the credit card reward certificate in your February billing statement, any earned Costco Cash Rewards will be forfeited.
Forfeiture: All Costco Cash Rewards not disbursed via an annual credit card reward certificate due to the reward amount being less than $1, the account status (including account closure), or other reasons, will be forfeited. Additionally, any Costco Cash Rewards not redeemed by December 31 of the year of issuance of the credit card reward certificate will be forfeited.
