Nobody knows. There is a deal from an outfit called Stack Social to get a $20 Costco card with a new membership
link (I know nothing about that outfit) btw. (ETA
@FoxC63 for the Costco membership deal)
You may have issues being a brand new account, I feel like someone here did but don’t recall who, and if that’s the case you probably won’t be saving “hundreds” because CS service will only help you with the one order you are allowed per the rules.
I would take the $40 risk if I had a physical store nearby. Odds are you will find yourself buying some stuff there and getting that savings back over the course of a year even if online doesn’t work out. Don’t forget you get a free household member so you’re basically getting 2 memberships.