Costco raising membership fee for the first time in years - but hot dog price remains
(www.independent.co.uk)
No. That 2% is with the membership, you get a certificate back every year based on what you spend in the store. The people talking about having to spend $3000 to break even are talking about this 2% return in relation to the membership fee. All the credit card rewards, cash back, or other points from whatever card you use are in addition, as well as all the discounted prices further reducing your cost burden.
Yes, you are paying 120 (130now I guess) for the privilege of spending less for more, with the additional benefit of making back that payment and more by buying the same things you would have bought from Walmart or wherever