Different Ways of Financing Your Golf Membership

Millions of Americans like golf, and many believe that joining a private golf club is the best way to enjoy their favorite sport. Golf clubs give several benefits and allow members to play the game in a beautiful setting. Golf clubs are a terrific place for the entire family to have fun, network, do business, and improve their skills in a sport they enjoy $2500 from Ipass.

There is one major disadvantage for all of the advantages that a golf club membership brings: the expense. The sport is already costly, but getting into the general whole world of club membership is even more so, with initiation fees frequently running into the thousands or tens of thousands of dollars. Because many people do not have that type of money on hand, financing a golf club membership may be necessary.

Gold membership cost

While initiation fees are a one-time expenditure, they can range from $1,500 to $90,000. 

Annual dues, which can range from $2,000 to $9,000 and are typically collected monthly, are in addition to this cost.

Aside from these fees, a slew of extra costs come with being a member of a golf club. First, most of them demand that members satisfy a monthly food and beverage minimum, which can be as high as $300. Other expenses could include locker rental, club storage fees, and golf cart hire.

The cost of joining a golf club depends on several things, including where you reside and your membership. The quality of the golf course and club and the quantity of public and private courses in the vicinity will all play a part.

Options for Golf Membership Financing

There are several options for financing a golf club membership if you can’t afford to pay for it out of cash. While saving up for a membership is a wonderful idea, you might miss out on networking possibilities, professional training, and the ability to play golf on a fantastic course whenever you want.

If you decide to finance your membership, you have several options, including a personal loan, a credit card, a retirement account, or financing through the club.

Personal Loans

With certain lenders specializing in this type of financing, a personal loan is one option to finance a golf membership. The annual percentage rate (APR) for these forms of unsecured loans can range from 4.99 to 35.99 percent, depending on your credit history.

These loans allow you to customize your payment to meet your budget by choosing a loan term that works for you and making monthly payments on time. You will, however, be taking on a significant amount of debt with a possibly high-interest rate.

It’s better to avoid personal loans for this expense unless you can acquire a good APR based on your income, employment status, and credit score.

Bank Card

A credit card may be suitable for golf memberships with relatively low membership initiation fees. Simply swipe your card and you’re done, as long as the initiation cost does not exceed your credit limit.

The trouble is that unless your credit card has a low introductory APR, your interest rate will almost certainly be high – 18 percent to 24 percent. It can be tough to pay off credit card debt because the interest rate is not fixed.

Although using a credit card is a quick way to secure membership, you should avoid this financing option unless you can get a credit card with a 0% interest introductory period. 

In this scenario, you can charge the amount to your credit card and pay it off within the specified time frame. You should avoid this choice if you cannot pay it off within that time frame.

Accounts for Retirement

Another alternative is to pay for your golf club membership with a retirement account. 

Taking a withdrawal or borrowing against your retirement savings are also options.

If you take out a loan, you’ll have to repay the money plus interest to your account. 

You can also take money out of your retirement fund.

Both have the advantage of getting money right away, but the disadvantage is that they may reduce the amount of money available for retirement. Furthermore, large tax penalties are connected with taking money out of your retirement account or taking out a loan that is not paid back immediately.

As a result, borrowing from or withdrawing funds from your retirement account should only be a last resort.

Financing for Clubs

Finally, you can pay for your membership through the club directly. Although not every golf club provides this service, those that do may be able to provide a 0% interest rate.

You must have a decent credit score, a steady salary, and a long work history to be eligible. 

Many prospective golf club members would be better off looking for other options because this is not always possible.


While there are various ways to pay for golf club memberships, they can all be quite costly – on top of the cost of being a member of the club. For most golfers, the best alternative is to wait until they can afford to pay the initiation fee themselves. This will save them from going into debt only to have to increase their membership dues.

Michael C. Ford