To
jummychang and others figuring this down to the finest points, keep in mind that in many cases, this won't be 20% off your bill, but $10 off - of the one $50 cert you use - say, on an $80 bill. Conversely, if you use two certs on an $80 bill, you lose the markdown of the last $20, as illustrated above. The certs are still nothing to sneeze at, and I'm headed over to pick up some. Wish I'd seen this before my last MR, in which I tried to use the gift card at the Hyatt Places...
DealDetective, I'm sure it would qualify. It doesn't seem to come in under any exclusion that I am aware of in the Costco scheme.
Peter, I strongly believe you'll find other things at Costco that appeal. I wouldn't go into them for years, not least because I don't need a closetful of toilet paper or 10 lbs of ground chuck etc. - and without going in for that reason, I just assumed their quality had to be bad, too. Then my son turned me on to them, and their quality (their "Kirkland" brand) turns out to be surprisingly good, IMO. To say nothing of the prices even on things that don't require you to buy a houseful. (All this said, brother still won't go into them because they're intimidating and maybe anti-union.)
...not to take this off on an OT tangent, and I'm not a shill for them.