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Best credit card for Costco gas in Canada: 3% back, and the cap to know
The CIBC Costco Mastercard pays 3% at Costco gas, the best no-fee rate there, but only on the first $5,000 of gas and EV charging a year; after that it's 1%. Costco pumps take Mastercard and debit, not Visa. Which card wins at each spending level.
By Cost Check Editorial · Last reviewed Oct 4, 2026 · 3 min read
The best credit card for Costco gas for most members is the CIBC Costco Mastercard: it pays 3% at Costco gas stations with no annual fee, more than any other no-fee Mastercard we compared. The catch is a yearly cap: the 3% (and the 2% at other gas stations and EV chargers) applies to the first $5,000 of gas and charging a year combined, then drops to 1% until January 1, per CIBC's benefits guide. Costco pumps take Mastercard and debit but not Visa, so compare Mastercards on our best cards for Costco page.
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What your gas spending earns, cap included
Enter what you spend each month to see what the card would earn you in a year, with CIBC’s caps applied.
Estimate your yearly cash back
Sample dataEstimated cash back per year
$332.00
Rates are CIBC’s published rates and are editable, as is the spending. Includes CIBC’s yearly category caps (spending above a cap earns 1%); there’s no limit on total cash back. Check current terms before you apply.
What cards can you use at Costco gas?
Mastercard credit cards, Mastercard debit, regular debit cards and physical Costco Shop Cards. Costco gas stations in Canada don't take cash, Visa or digital Shop Cards, so a Visa rewards card is no help at the pump. Details are in our guide to paying at a Costco gas station.
How much does the CIBC Costco Mastercard pay on gas?
| Where you fill up | Rate | Yearly cap |
|---|---|---|
| Costco gas stations in Canada | 3% | First $5,000 a year, shared |
| Other gas stations and EV charging (MCC 5552) | 2% | Same shared $5,000 |
| After the cap | 1% | Resets January 1 |
The cap is on net purchases (less returns) in the gas category. At 3%, the most a year of Costco gas can earn at the full rate is $150. Cash back is paid once a year as a Costco gift certificate.
Which card earns the most at Costco gas?
Example only: yearly cash back on Costco gas alone, from each issuer's published rates (checked October 4, 2026).
| Costco gas a month | CIBC Costco Mastercard | Tangerine Money-Back (Gas chosen) | BMO CashBack |
|---|---|---|---|
| $100 | $36 | $24 | $6 |
| $200 | $72 | $48 | $12 |
| $400 | $144 | $96 | $24 |
| $600 | $172 | $144 | $36 |
Below about $417 a month, the CIBC card wins easily. Above it, the extra spending earns 1% on the CIBC card against an unlimited 2% on Tangerine's Money-Back Mastercard if you pick Gas as one of its 2% categories (Tangerine counts gas stations as MCC 5541 and 5542, the codes fuel pumps typically use). BMO CashBack pays its 0.5% base rate on gas.
What if you spend more than $5,000 a year on gas?
Heavy drivers have two options:
- Two cards: use the CIBC Costco Mastercard until you reach the cap (CIBC's app shows your cash back balance), then switch to a card with an uncapped gas rate, such as Tangerine's 2% Gas category.
- The Business card: if the driving is for a business, the CIBC Costco Business Mastercard pays the same 3% on a higher $8,000 gas cap.
Does Costco gas earn the Executive reward?
No. Costco excludes gas stations from the 2% Executive reward, so whatever your card pays is the only reward at the pump. That's why the card's gas rate matters more than its warehouse rate for many members; see how the two programs stack.
Is filling up at Costco worth the trip?
It depends on local prices, which change daily: compare the price per litre with stations near you, then add the card's 3% on top. You need a Costco membership to buy gas there. Check prices, hours and which locations have gas on our Costco gas page.
Frequently asked questions
- What is the best credit card for Costco gas?
- For most members, the CIBC Costco Mastercard: 3% at Costco gas with a $0 fee, on the first $5,000 of gas and EV charging a year.
- Can I use a Visa at Costco gas in Canada?
- No. Costco gas stations take Mastercard (credit or debit), debit and physical Shop Cards, but not Visa or cash.
- Is there a limit on the CIBC Costco Mastercard gas cash back?
- Yes. The 3% at Costco gas and 2% at other gas stations apply to the first $5,000 a year combined, then 1% until January 1.
- Does Costco gas count toward the Executive reward?
- No. Gas is excluded from the 2% Executive reward.
- Which card is better for gas after the cap?
- One with an uncapped gas rate, such as Tangerine's Money-Back Mastercard at 2% when Gas is a chosen category, against 1% on the CIBC card.
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