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CIBC Costco Mastercard

The standard Costco credit card in Canada: no annual fee, cash back paid once a year as a Costco gift certificate.

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Guides:Cash back reviewIs Executive worth it?Costco gas: 3% back

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Key facts

Cash back: Restaurants
3%
Cash back: Gas at Costco
3%
Cash back: Costco.ca
2%
Cash back: Other gas stations and EV charging
2%
Cash back: Everything else, including Costco warehouses
1%
Annual fee
$0
Additional cardholders
$0, up to 3
Costco membership required
Yes
Rewards paid as
A yearly Costco cash back gift certificate, with your January statement
Cap on total cash back
None stated by CIBC
Minimum income
$15,000 a year
Foreign transaction fee
To confirm with CIBC
Insurance
Mobile device insurance (up to $1,000), purchase security and extended warranty (up to 1 extra year)

Checked against CIBC’s card page on Oct 1, 2026. Card terms change; confirm before you apply.

Good fit if

  • Members who buy gas at Costco and eat out regularly
  • Anyone who wants one card for Costco and a no-fuss cash back return

Skip it if

  • Most of your spending is outside Costco, gas and restaurants: a flat-rate card may earn more
  • You want cash back as cash, not a gift certificate that can only be spent at Costco

Estimate your yearly cash back

Sample data
Restaurants
Gas at Costco
Costco.ca
Other gas stations and EV charging
Everything else, including Costco warehouses

Estimated cash back per year

$258.00

Rates are CIBC’s published rates and are editable, as is the spending. CIBC states no limit on total cash back; check current terms before you apply.

Compare Costco credit cards

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How it compares with the other Costco cards

Personal (higher income)

CIBC Costco World Mastercard

The same no-fee Costco card and cash back, with World Mastercard benefits for members who meet the income requirement.

Business

CIBC Costco Business Mastercard

The no-fee Costco card for businesses, with 2% on Costco online orders, shipping and insurance services.

FAQ

CIBC Costco Mastercard: common questions

Who issues the Costco Mastercard in Canada?

CIBC. It replaced the Capital One Costco Mastercard in 2022.

How is the cash back paid?

Once a year, as a Costco cash back gift certificate with your January statement, covering what you earned January to December. You can redeem it in Canadian warehouses through the CIBC Mobile Banking App or print it from CIBC Online Banking.

Do I need a Costco membership?

Yes. The card is for Costco members.

Is it the only credit card Costco accepts?

No. Costco warehouses in Canada accept any Mastercard, plus debit. This one simply earns more at Costco gas.

Costco card updates

Hear when Costco card terms or offers change.

CIBC, Costco and Mastercard are trademarks of their respective owners. Cost Check is independent and not affiliated with CIBC or Costco. We may earn a commission when you apply through our links; it never changes our assessment.