Is there a cap on the Costco Mastercard's restaurant cash back?

No, not on the personal card. The CIBC Costco Business Mastercard caps restaurants at $8,000 a year.

Does the CIBC Costco Mastercard work with Skip?

Yes. Linking it gives a free Skip+ membership ($9.99 a month value) and $0 delivery fees on eligible orders of $15 or more.

Does fast food count as a restaurant for the Costco Mastercard?

It depends on how the merchant is coded. CIBC counts merchants classified as restaurants and doesn't list the codes, so check your statement; Tangerine's 2% category explicitly includes fast food (MCC 5814).

Do I need a Costco membership for the Costco Mastercard?

Yes. Gold Star costs $65 a year, which the card's extra 1% at restaurants covers above about $6,500 of dining a year.

Money

Best no-fee credit card for restaurants in Canada: the Costco Mastercard's 3%, and who should skip it

The CIBC Costco Mastercard pays 3% at restaurants with no annual fee and no cap on the personal card, more than Tangerine's 2% Eating Places category or BMO CashBack's 0.5%. It also gets you a free Skip+ membership. The catch: you need a Costco membership, which only pays for itself on dining alone above about $6,500 a year.

By Cost Check Editorial · Last reviewed Oct 4, 2026 · 3 min read

Run your own numbers Email me this guide

The best no-fee credit card for restaurants in Canada, among the cards we compare, is the CIBC Costco Mastercard: 3% at restaurants with no annual fee and, on the personal card, no cap, per CIBC's benefits guide. That beats Tangerine's 2% Eating Places category and BMO CashBack's 0.5%. The catch is the $65 Costco membership it requires: if you'd shop at Costco anyway, it's an easy win; if you wouldn't, the extra 1% only covers the membership above about $6,500 of dining a year. See it on the CIBC Costco Mastercard page.

Calculator

What your dining earns, with everything else

Put in what you spend at restaurants and on delivery each month, plus your Costco and other spending, to see the card’s yearly total.

Estimate your yearly cash back

Sample data

CategoryMonthly spendEarn rate

Restaurants$%

Gas at Costco$%

Costco.ca$%

Other gas stations and EV charging$%

Everything else, including Costco warehouses$%

Estimated cash back per year

$348.00

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.

See the CIBC Costco Mastercard

How much does the CIBC Costco Mastercard pay at restaurants?

3% on purchases at merchants "classified in the credit card network as restaurants", per CIBC's benefits guide (03/26). Unlike its gas and Costco.ca rates, the personal card's restaurant rate has no yearly cap. The Business card pays the same 3%, but only on the first $8,000 a year. CIBC doesn't list which merchant codes count as restaurants, so check your statement for coffee shops and fast-food chains, which can be coded differently.

How does it compare with other no-fee cards?

Yearly cash back on restaurant spending alone, from each issuer's published rates (checked October 4, 2026). Example only:

Dining a month	CIBC Costco Mastercard (3%)	Tangerine Money-Back, Eating Places (2%)	BMO CashBack (0.5%)
$200	$72	$48	$12
$400	$144	$96	$24
$800	$288	$192	$48

Tangerine's Eating Places category covers MCC 5812 (restaurants), 5813 (bars) and 5814 (fast food), and its cash back is paid monthly rather than once a year. BMO's card is built for groceries, not dining.

What does the Skip partnership add?

CIBC's Skip partnership covers the Costco cards. Link the card to your Skip account and you get, per CIBC:

A free Skip+ membership, normally $9.99 a month plus tax
$0 delivery fees on orders of $15 or more from participating restaurants
A $20 welcome voucher on a first order of $40 or more
A $10 monthly voucher after 4 orders of $30 or more in a calendar month

CIBC's Costco card page also says linked cardholders earn 3% on dining and food delivery. If you order in often, that's worth more than the cash back difference between cards.

Is the card worth a Costco membership just for dining?

Only for heavy diners. Against Tangerine's 2%, the Costco card earns 1% more at restaurants, so the $65 Gold Star fee is covered at $6,500 of dining a year (about $542 a month). Below that, a no-membership card wins on dining alone. Most people weighing this already shop at Costco, where the membership pays for itself in other ways; see what each membership costs.

Does the Costco food court earn the restaurant rate?

Probably not: food court purchases are made at Costco, which isn't coded as a restaurant, so expect the 1% rate. Check your statement to see how yours is categorized. The $1.50 hot dog won't move your cash back either way.

Which card should you use for restaurants?

You shop at Costco: the CIBC Costco Mastercard, for 3% uncapped plus Skip+.
You don't, and dine out moderately: Tangerine's Money-Back Mastercard with Eating Places as a 2% category, paid monthly with no membership.
Both: use the Costco card at restaurants and Costco, and a second card for groceries and bills; see the best two-card setup.

Frequently asked questions

What is the best no-fee credit card for restaurants in Canada?: Among the cards we compare, the CIBC Costco Mastercard: 3% at restaurants with no annual fee and no cap, but it needs a Costco membership.
Is there a cap on the Costco Mastercard's restaurant cash back?: No, not on the personal card. The CIBC Costco Business Mastercard caps restaurants at $8,000 a year.
Does the CIBC Costco Mastercard work with Skip?: Yes. Linking it gives a free Skip+ membership ($9.99 a month value) and $0 delivery fees on eligible orders of $15 or more.
Does fast food count as a restaurant for the Costco Mastercard?: It depends on how the merchant is coded. CIBC counts merchants classified as restaurants and doesn't list the codes, so check your statement; Tangerine's 2% category explicitly includes fast food (MCC 5814).
Do I need a Costco membership for the Costco Mastercard?: Yes. Gold Star costs $65 a year, which the card's extra 1% at restaurants covers above about $6,500 of dining a year.

See the CIBC Costco Mastercard

Money

Keep reading

“The CIBC Costco Mastercard has no annual fee and pays 3% at restaurants and Costco gas, 2% at Costco.ca, and 1% on most other spending, including Costco warehouses. On two real budgets it works out to 1.4% to 1.5% overall.

Money

Costco Mastercard cash back: is the CIBC card worth it? A review with real numbers

The CIBC Costco Mastercard has no annual fee and pays 3% at restaurants and Costco gas, 2% at Costco.ca, and 1% on most other spending, including Costco warehouses. On two real budgets it works out to 1.4% to 1.5% overall.

Cost Check Editorial · 3 min read · Updated Oct 1

“The Capital One Costco Mastercard ended in Canada on March 4, 2022, when CIBC took over every account. What changed for cardholders, where to log in and pay now, and which Costco card to use instead.

Money

Capital One Costco Mastercard: what happened to it, and what to use now

The Capital One Costco Mastercard ended in Canada on March 4, 2022, when CIBC took over every account. What changed for cardholders, where to log in and pay now, and which Costco card to use instead.

Cost Check Editorial · 3 min read · Updated Oct 1

“Costco warehouses in Canada take Mastercard, debit, cash, Apple Pay and Shop Cards, but not Visa or American Express. Costco.ca takes Visa. U.S. Costcos are the reverse: Visa yes, Mastercard only if it is the CIBC Costco card.

Money

Does Costco take Visa? Costco credit cards accepted in Canada, and what to pay with

Costco warehouses in Canada take Mastercard, debit, cash, Apple Pay and Shop Cards, but not Visa or American Express. Costco.ca takes Visa. U.S. Costcos are the reverse: Visa yes, Mastercard only if it is the CIBC Costco card.

Cost Check Editorial · 3 min read · Updated Oct 1