Costco credit card company: does Costco have its own credit card in Canada?

Costco doesn't run its own credit card. In Canada, the Costco credit card company is CIBC: it has been the exclusive issuer since March 4, 2022, when it took over from Capital One, and it offers 3 Costco cards, all Mastercards with a $0 annual fee. In the U.S., the Costco card comes from Citi and is a Visa. If you live in Canada, the card you can apply for is the CIBC Costco Mastercard.

Who issues the Costco credit card in Canada?

CIBC. Costco partners with a bank, which approves applications, sets credit limits, charges interest and pays the rewards. On March 4, 2022, CIBC became the exclusive issuer of Costco credit cards in Canada. Before that, the card was the Capital One Costco Mastercard; Capital One accounts were moved to CIBC without a new application or credit check. Our Capital One guide explains what changed.

Which Costco credit cards can Canadians get?

Three, all from CIBC and all for Costco members:

All three earn 3% at restaurants and Costco gas, 2% at Costco.ca and other gas stations, and 1% on everything else, paid once a year as a Costco gift certificate. The standard and World cards are nearly identical.

Is there a Costco Visa card in Canada?

No. The "Costco Visa" people search for is the Costco Anywhere Visa Card by Citi, a U.S. card. Citi lists it at 5% on Costco gas, 4% on other gas and EV charging (on a combined US$7,000 a year, then 1%), 3% on restaurants and travel, 2% at Costco and 1% elsewhere. It's a different product from a different bank and isn't offered in Canada, where Costco's card is a Mastercard.

Why is Costco's card a Mastercard in Canada?

Because Mastercard is the credit card network Costco's Canadian warehouses accept. They take Mastercard, debit and cash, but not Visa or American Express; Costco.ca does take Visa. In the U.S. it's the reverse: warehouses take Visa, and the only Mastercard they list is the CIBC Costco card. See which cards Costco accepts on both sides of the border.

Do you need the Costco credit card to shop at Costco?

No. Any Mastercard, debit card or cash works in Canadian warehouses. The CIBC card is worth getting for its rates, not for access: 3% at Costco gas is the standout, but warehouse purchases earn only 1%. Our cash back calculator shows what it earns on 5 sample budgets, and the best cards for Costco page compares it with other Mastercards.

Does Costco have a store card?

No. Costco doesn't offer a store-only credit card in Canada, and the CIBC Costco Mastercard is a regular Mastercard you can use anywhere Mastercard is accepted. The card can double as your Costco membership card, with your membership details on the back.