Oh I know what it says. I am telling you my experience. I have been offered cash for years now, for both the Costco reward and Citi Costco card.Wrong.
From the Costco website:
When to expect a 2% Reward Certificate:
The 2% Reward Certificate is mailed with the renewal notice approximately two months prior to the member’s annual renewal date. A member must be a paid Executive Member at the time the Reward is issued to receive the certificate. Members who reverse their Executive status will lose all rewards accumulated. Rewards are not prorated.
https://customerservice.costco.com/app/answers/answer_view/a_id/1205/~/what-is-an-executive-membership?
I can also have the Citi Costco card sent to my checking account, all online. Click-click-click. Pretty sweet deal.