CIBC Costco Mastercard
Rewards
- 3% Earn 3% back at participating restaurants and Costco Gas purchases.
- 2% Earn 2% back on Costco.ca and non-Costco gas purchases.
- 1% Earn 1% back on all in-store Costco items and all other purchases.
- Welcome Offer $30 Terms apply.
- Annual Rewards $366 Learn how we calculate this.
- Annual Fee $0
- Minimum Income Requirement $15,000
Pros
- The card has no annual fee and allows you to earn free money to shop at a Costco location.
- High cash back rates on gas, dining, and online purchases.
- The card also comes with benefits such as extended warranty coverage and price protection.
Cons
- There are limited redemption options. Points can only be redeemed at Costco warehouses.
- One-time redemption. Cardholders receive their gift receipt once a year and it can only be used once.
For avid Costco Canada clients, the CIBC Costco Mastercard is a recommended way to maximize your annual cash-back savings. With a $0 annual rate, there is no disadvantage to the card as long as you clear your balance every month by the due date to avoid the 19.75% interest rate.