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Mr. Loonie
CIBC Costco® Mastercard®

CIBC Costco® Mastercard®

7.7
Good
Expert Score · 6 reviews How we score

Best for: Costco members who want cash back on Costco gas and restaurants with no annual fee

Your spending a month
What’s in each?
Light:
Groceries $400, restaurants $100, gas $100, recurring bills $100, everything else (base rate) $250, foreign currency $50
Typical:
Groceries $800, restaurants $250, gas $250, recurring bills $250, travel $150, everything else (base rate) $650, foreign currency $150
Big:
Groceries $1,200, restaurants $500, gas $400, recurring bills $400, travel $500, everything else (base rate) $1,600, foreign currency $400
Yours:
Your own amounts, saved on this device only
Every year
$405

Ranked #86 of 176 for year one. See the list

See how we worked it out
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 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.

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 typical spending of $2,500 a month.

  • Groceries $96
    1% back $800 a month · $96 a year
  • Restaurants $90
    3% back $250 a month · $90 a year
  • Gas $60
    2% back $250 a month · $60 a year
  • Recurring bills $30
    1% back $250 a month · $30 a year
  • Travel $18
    1% back $150 a month · $18 a year
  • Everything else $78
    1% back $650 a month · $78 a year
  • Foreign currency $18
    1% back $150 a month · $18 a year
For you Year one Later years
Cash back you earn $390 $390
Annual fee $0 $0
Foreign currency fee2.5% on $1,800 a year −$45 −$45
Phone insurance$60 a year $60 $60
Total $405 $405

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 3% cash back on Costco Gas
Gas
2% back 3% at Costco gas. Including EV charging
Everything else (base rate)
1% back Including at Costco
  • 2% cash back on Costco.ca
  • 0.25% cash back for every $1 spent on a CIBC Global Money Transfer

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

Checked on Nov 8, 2026. Source

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 critics say

Other reviewers on this card

7.7
Good
Expert Score How we score
  • Frugal Flyer (opens in a new tab) May 2026

    “While the CIBC Costco World Mastercard can be a good fit for a family who spends a large amount of money at Costco, it is worth considering other credit cards that may provide a more robust earning rate or bonus category options to ensure you are getting the most from your spending. Either way, always thinking about where the majority of your spending is done will give you the opportunity to further optimize your personal finance situation by choosing the right credit card for your needs.”

  • Money.ca (opens in a new tab) Apr 2025
    6

    “The CIBC Costco Mastercard isn’t going to blow anyone away with its features. It lacks a few of the more enticing things offered by other, more premium cards like travel insurance and lounge access. The fact that it only offers 1% cash back when shopping at Costco is – forgive me for saying it – a little weird for a card that is exclusive to Costco owners and is named after the place. Still, if you’re looking for a card that’ll earn you cash back to use at Costco, dine out often and don’t mind getting your gas at Costco gas stations, this card is worth considering.”

  • Yore Oyster (opens in a new tab) Jan 2023

    “The CIBC Costco Mastercard is worth it. This credit card could help you more if you already have a Costco Wholesale membership. It has no annual fees. You can earn up to 3% cash back on restaurants and Costco gas purchases. You can also use the CIBC Pace It Installment Plans to break down your large payments into pieces and pay them later.”

  • Money We Have (opens in a new tab) Apr 2022

    “Here’s the thing, if you already have a Capital One Costco Mastercard, you’ll automatically be converted over to the CIBC version. I don’t think any current cardholders will complain about the additional benefits. That said, I suspect some people will consider cancelling their cards as they only held it because it came with really good purchase insurance. As for those who don’t currently hold the card? I doubt these new changes will make them rush out to get the CIBC Costco Mastercard, but there’s no denying that the new benefits are added incentives. Remember, this is a no fee card, so it certainly doesn’t hurt to have it.”

  • Finder (opens in a new tab) Mar 2022

    “Apply for the CIBC Costco Mastercard if you want to earn cashback and get a decent level of insurance for no annual fee. This card comes with purchase and warranty coverage, mobile device protection and a welcome offer. It also doubles as your Costco membership. Choose something else if you want a higher cashback return at Costco or you’d like to cash your rewards in throughout the year.”

  • LOANS Canada (opens in a new tab) Mar 2022
    10

    “If you are currently a cardholder of the Capital One Costco credit card, you will automatically receive the new CIBC Mastercard in the mail before August 31, 2022. Because of this, it is worth it, especially if you make a lot of purchases at Costco. Furthermore, for members who like to take advantage of Costco.ca, the new 2% cash back on online purchases may make this new card a good option. Are there better credit cards on the market with higher cash back rewards? Yes, but the majority of these cards will come with high annual fees. Make sure you keep that in mind when deciding if the CIBC Costco Mastercard is right for you.”

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 $1,000 per device
  • Get special rates with CIBC Pace It Installment Plans on Costco purchases
  • 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
21.75%
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
3%, 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 typical spending. This card: $405 year one, $405 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® Mastercard®?

There is no annual fee.

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?

21.75% on purchases. Cash advances are 22.49%.

Does it include insurance?

It lists extended warranty, purchase 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

$405
a year for you
Apply now on CIBC’s site (opens in a new tab)
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