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Mr. Loonie
CIBC Costco® Business Mastercard®

CIBC Costco® Business Mastercard®

Best for: Business owners who shop at Costco and want cash back on gas and dining

Your spending a month
What’s in each?
Solo:
Office supplies $100, shipping $50, phone and internet $150, software $150, online ads $200, gas $250, restaurants $200, travel $250, everything else (base rate) $1,050, foreign currency $100
Small team:
Office supplies $250, shipping $200, phone and internet $300, software $400, online ads $600, gas $500, restaurants $400, travel $400, everything else (base rate) $2,650, foreign currency $300
Growing:
Office supplies $500, shipping $600, phone and internet $600, software $1,000, online ads $2,000, gas $1,000, restaurants $800, travel $1,200, everything else (base rate) $6,300, foreign currency $1,000
Year one
$970
Every year after
$870

Ranked #17 of 27 business cards for year one. See the list

See how we worked it out
Welcome offer you’d get
$100
The full offer. Up to $100 back.
Annual fee
None
Apply now on CIBC’s site (opens in a new tab)
Needs $15,000 personal income
We may get paid if you apply through this link. It never changes our score.

Have this card?

Details from CIBC’s site. Banks can update terms at any time, so give them a quick look before you apply. Source

Is it for me? What you’d earn Welcome offer Can I get it? Fees Similar cards
2 quick questions

Is it for me?

Is your personal income $15,000 or more?

Do you pay your card off in full most months?

Answer the 2 questions to see if it fits.

From the numbers

The good and the bad

Stands out

  • Good: 3% back on restaurants
  • Good: No annual fee It costs nothing to keep.
  • Good: Welcome offer up to $100

Watch for

  • Watch for: 2.5% on foreign purchases Use a no foreign fee card when you travel.

Worked out from the card’s rates and fees.

Show your work

What you’d earn

With small team spending of $6,000 a month.

  • Office supplies $30
    1% back $250 a month · $30 a year
  • Shipping $48
    2% back $200 a month · $48 a year
  • Phone and internet $36
    1% back $300 a month · $36 a year
  • Software $48
    1% back $400 a month · $48 a year
  • Online ads $72
    1% back $600 a month · $72 a year
  • Gas $120
    2% back $500 a month · $120 a year
  • Restaurants $144
    3% back $400 a month · $144 a year
  • Travel $48
    1% back $400 a month · $48 a year
  • Everything else $318
    1% back $2,650 a month · $318 a year
  • Foreign currency $36
    1% back $300 a month · $36 a year
For you Year one Later years
Cash back you earn $900 $900
Welcome offerYour spending wouldn’t reach it $100 $0
Annual fee $0 $0
Foreign currency fee2.5% on $3,600 a year −$90 −$90
Phone insurance$60 a year $60 $60
Total $970 $870

Rows are rounded to the dollar. Insurance counts at what the same cover costs on its own, and only pays when you charge the trip, rental or phone to the card.

What counts in each category
Restaurants
3% back
Gas
2% back 3% at Costco gas. Including EV charging
Everything else (base rate)
1% back Including at Costco
Shipping
2% back shipping
  • 2% cash back on Costcobusinesscentre.ca and Costco.ca
  • 2% cash back on shipping
  • 2% cash back on insurance services
  • 3% cash back on Costco Gas

These are example budgets to compare cards side by side, not averages. Your own spending will give a different number.

Checked on Nov 10, 2026. Source

Welcome offer

Can your spending get the offer?

At $6,000 a month, here’s when you’d reach each step.

  1. 1

    $100

    Spend $3,000 in your first 3 months.

    You’d reach it in month 1.

    • On purchases within the first 3 months.

Offer end date not published.

Before you apply

Can I get it?

  • Age 18 or older 19 or older in BC, NB, NL, NS and the territories
  • Where you live Canada
  • Personal income $15,000 or more Issuer says
  • Credit score No minimum on record Most banks don’t publish one, and we don’t guess.

Checked on Nov 8, 2026. Source

Mr. Loonie’s tip Each application shows up on your credit file. Leave a few months between card applications.

What cardholders say

Ratings from people with this card

No ratings yet. If you have this card, tell others what it’s like.

Applied and weren’t approved?

Insurance and perks

What comes with it

  • Extended warranty Included
  • Purchase protection Included
  • Mobile device Included
  • Costco membership
  • Mastercard Zero Liability Protection
  • Mobile Device Insurance
  • Mobile wallets Apple Pay, Google Pay, Samsung Pay
Coverage limits

We haven’t recorded the coverage limits for this card yet. Read CIBC’s insurance certificate before you count on any coverage.

Not included

Not listed for this card: travel medical, trip cancellation, trip interruption, flight delay, lost baggage and car rental damage.

Fees and interest

What it costs

Annual fee
None
Purchase interest
20.75%
Cash advance interest
22.49%
Foreign currency fee
2.5%
All fees and rates

Fees

Extra cards
None
Cash advance fee
$5.00
Balance transfer fee
5%, Maximum
Over-limit fee
$29
Late payment fee
None
Source
Issuer page

Interest rates

Balance transfer interest
22.49%
Source
Issuer page

Province differences

Quebec
Balance transfer rate: 21.99%. Cash advance rate: 21.99%. Over-limit fee: none.

Read the card terms and conditions for the full terms.

Checked on Nov 8, 2026. Source

Before you decide

Similar cards for the same spending

With small team spending. This card: $970 year one, $870 every year after.

See all cards ranked for your spending

Some of these links pay us when you apply, at no extra cost to you. Most don’t, and pay never changes our score. How we make money

Common questions

Questions people ask

What is the annual fee on the CIBC Costco® Business Mastercard®?

There is no annual fee.

How much is the CIBC Costco® Business Mastercard® welcome offer worth?

$100 after you spend $3,000 in the first 3 months, worth about $100.

What income do I need?

CIBC asks for $15,000 in personal income.

Does it charge a foreign transaction fee?

Yes, 2.5% on purchases in other currencies.

What is the interest rate?

20.75% on purchases. Cash advances are 22.49%.

Does it include insurance?

It lists extended warranty, purchase protection, mastercard zero liability protection and mobile device insurance. Read the insurance certificate for the limits.

Rates, fees and offers come from the card issuers and change often. We work to keep this page accurate and current, but it may contain mistakes, so always check the issuer’s terms before you apply. This page is general information and isn’t financial advice.

Spot something wrong? We’ll check it with the bank. Suggest a correction

Card names, logos and trademarks belong to their owners. No issuer wrote, paid for or approved what we say about this card. Our scores and opinions are our own.

Mr. Loonie is independent and supported by affiliate links. We may earn a commission when you apply through some links, at no cost to you. How we make money

$970
year one for you
Apply now on CIBC’s site (opens in a new tab)
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