Best Credit Cards for Costco Shopping
Costco Canada only accepts Mastercard in-store. All cards below are Mastercards.
| Card | Annual Fee | Costco Earn Rate | Other Earn Rates | Best For |
|---|---|---|---|---|
| CIBC Costco Mastercard | $0 (with membership) | 3% | 3% dining, 2% gas, 1% other | Costco members (best overall) |
| Rogers World Elite Mastercard | $0 | 1.5% | 1.5% all purchases, 3% USD | Big spenders, simplicity |
| BMO CashBack Mastercard | $0 | 0.5% | 3% groceries, 1% bills, 0.5% other | Groceries outside Costco |
| Tangerine World Mastercard | $0 | 2% (if selected) | 2% on 3 categories, 0.5% other | Picking Costco as a category |
| MBNA Rewards World Elite Mastercard | $0 | 2 pts/$1 | 5 pts/$1 gas/groceries, 2 pts/$1 other | Points collectors |
| BMO World Elite Mastercard | $150 | 1.5% travel | 5% travel, 2% dining, 1.5% other | Travel rewards |
| CIBC Aventura World Elite Mastercard | $149 | 1 pt/$1 | 3 pts/$1 travel, 2 pts/$1 transit/gas | Travel points at Costco |
Cashback Comparison: $10,000/Year Costco Spending
| Card | Costco Cashback | Other Spending ($20K at 1–1.5%) | Total Annual Rewards | Net After Fee |
|---|---|---|---|---|
| CIBC Costco Mastercard | $300 | $200–$300 | $500–$600 | $500–$600 |
| Rogers World Elite | $150 | $300 | $450 | $450 |
| Tangerine World (Costco selected) | $200 | $100–$200 | $300–$400 | $300–$400 |
| BMO CashBack | $50 | $100–$200 | $150–$250 | $150–$250 |
CIBC Costco Mastercard Details
| Feature | Details |
|---|---|
| Annual fee | $0 (requires Costco membership) |
| Cashback at Costco | 3% |
| Cashback on dining | 3% |
| Cashback on gas/EV | 2% |
| Cashback everywhere else | 1% |
| Cashback cap | $50,000 in purchases per category |
| How cashback is paid | Annual Costco voucher (February) |
| Insurance | Purchase protection, extended warranty |
| Minimum income | $60,000 personal or $100,000 household |
| Credit card network | Mastercard World |
| Limitation | Must be a Costco member ($65–$130/year) |
Payment Methods Accepted at Costco Canada
| Payment Method | In-Store | Costco.ca | Gas Bar |
|---|---|---|---|
| Mastercard (credit) | Yes | Yes | Yes |
| Visa (credit) | No | Yes | No |
| American Express | No | No | No |
| Debit (Interac) | Yes | Yes | Yes |
| Costco Shop Card | Yes | Yes | Yes |
| Cash | Yes | No | Yes |
| Apple Pay / Google Pay | No | Yes (online) | No |
Tips for Maximizing Costco Rewards
| Strategy | Details | Savings |
|---|---|---|
| Use CIBC Costco MC for all Costco purchases | 3% back on everything in-store | $180–$360/year |
| Fill up at Costco gas bar | Gas is typically 5–10¢/L cheaper | $200–$400/year |
| Buy Costco gift cards for restaurants | Get 3% dining rate on gift card purchases | Stacks with Costco pricing |
| Executive membership | 2% back on qualified purchases (up to $1,250) | $100–$500/year |
| Stack Executive + CIBC card | 2% executive + 3% card = 5% effective | $400–$800/year |