CIBC Costco Business Mastercard®
Fees
Earning Rates
- Earn an unlimited 3% cash back at restaurants.
- Earn 3% cash back Costco gas and 2% cash back at other gas stations and electric vehicle charging stations.
- Earn 2% cash back shopping online at Costco.ca.
- Earn 2% cash back on shipping and insurance services purchases.
- Earn 1% cash back on all other purchases including in-store at Costco.
Main Benefits
- Special interest rates with no installment fees when paying for eligible Costco purchases with CIBC Pace It™
- Enjoy Mobile Device Insurance, Purchase Security, and Extended Warranty Insurance
Card Details
Earning Rewards
The CIBC Costco Business Mastercard earns cash back at the following rates:
- 3% cash back at restaurants, on up to $8,000 per year (then 1%).
- 3% cash back at Costco Gas and 2% cash back at other gas stations and electric vehicle charging stations, on up to $8,000 per year (then 1%).
- 2% cash back shopping online at costco.ca and Costcobusinesscentre.ca, on up to $8,000 per year (then 1%).
- 2% cash back on all shipping and insurance services (this refers to eligible insurance premiums, deductibles and claim amounts), on up to $8,000 per year (then 1%).
- 1% cash back on all other purchases including in-store at Costco.
Rewards Value
Cash back earned with the CIBC Costco Business Mastercard is worth face value. $1 in rewards is equal to $1 in value spent at Canadian Costco warehouses.
Cash Back Rewards are provided in the form of a Cash Back Gift Certificate issued in Canadian dollars to an eligible Primary Cardholder once per calendar year in January for the cash back earned in the prior calendar year. The Cash Back Gift Certificate can be redeemed for purchases at any Canadian Costco Wholesale warehouse location.
Perks & Benefits
Here are the main benefits of the CIBC Costco Business Mastercard:
- Special Installment Plans: Get special rates on installment plans when paying for eligible Costco purchases with CIBC Pace It™.
- Purchase Insurance: Mobile Device Insurance, Purchase Security, and Extended Warranty Insurance.
Card Fees
Annual Fee
The CIBC Costco Business Mastercard has no annual fee, but it requires Costco membership.
Authorized User Fee
Add up to 9 additional cardholders to the CIBC Costco Business Mastercard for $0.
Foreign Transaction Fee
The CIBC Costco Business Mastercard has a foreign currency conversion fee of 2.5%. This means you will be penalized when using this card to make purchases that are not in Canadian Dollars.
Costco Rewards Calculator
Input your monthly and yearly spend amounts into the CIBC Costco Business Mastercard cash back calculator to see how much you can earn. Compare the results side by side credit cards to find out which cards are best for you.
Any spend entered into the primary card column (the first column) will carry over to all credit card calculators on the site, so there's no need to re-enter spend when viewing other credit cards.
Card Details All links open in new tab (so you will not lose your calculations).
Edit Card Details
Edit Card Name
Set the name of the card to something of your choosing. Leave it blank to default back to normal card name.
Quick Assign
Use quick assign to quickly toggle this card on for Spend Categories in the calculator. If the card is already assigned, toggling off will set the category to No Selection.
Currency Codes
Any currencies you add to the tool will be selectable when entering spend into the Spend Categories section of the calculator.
Do note that any foreign currencies selected will automatically be converted to the card's default currency when calculating rewards.
Currency Name
Add Status / Loyalty
You can add elite status to one or more columns. This allows you to calculate the extra points you would receive from having status with that program.
If the status is already added, you can update the currency the status is based on by specifying a different currency than what the one in the calculator already has.
NOTE: Elite status is automatically added to the calculator for most credit cards that grant it.
Clear / Remove...
If you're looking to quickly assign cards to multiple categories, click on the card itself under the Credit Cards section.
Card Select
Select the card you will use for this category.
Do note that the order of the categories in the Category Spending section makes a difference. Spend is calculate by month in order of categories listed.
Credit Cards
