Earning Rates

The CIBC Costco Mastercard earns cash back at the following rates:

  • Unlimited 3% cash back at restaurants.
  • 3% cash back at Costco Gas and 2% cash back at other gas stations and electric vehicle charging stations, on up to $5,000 per year (then 1%).
  • 2% cash back shopping online at costco.ca, on up to $8,000 per year (then 1%).
  • 1% cash back on all other purchases including in-store at Costco.

Rewards Value & Calculator

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.

Key Benefits

Here are the main benefits of the CIBC Costco 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.

Fees

Annual Fee

The CIBC Costco Mastercard has no annual fee, but it requires Costco membership.

Authorized User Fee

Add up to 3 additional cardholders to the CIBC Costco Mastercard for $0.

Foreign Transaction Fee

The CIBC Costco 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.