Best Costco Mastercards in Canada

A Rogers card catering to both Costco fans and travel junkies is the Rogers Red World Elite® Mastercard®. 

It grants 1.5% cash back for all purchases made in Canadian dollars. That’s almost double Costco’s own Mastercard, plus cardholders will also earn 3% back on all eligible purchases made in U.S. dollars. (net 0.5% after the foreign transaction fee).

And, if you're a Rogers customer, get 2% back on all eligible non-U.S. dollar purchases (with 1 eligible Rogers service).

As a World Elite card, it also provides insurance for out-of-province medical needs, car rentals, trip interruption and cancellation, and protection for new items bought with the card. There’s $0 annual fee, but you’ll have to demonstrate $80,000 in annual personal income to be eligible.

^{*Terms and conditions apply.}

When looking at Costco credit cards, many people will consider the CIBC Costco Mastercard® since it’s Costco's official co-branded credit card.

With this card, you’ll earn 3% cash back at restaurants and at Costco gas†; 2% cash back at other gas stations, electric vehicle charging stations and at Costco.ca†; and 1% cash back on all other purchases†.

While the earning rate is respectable, there’s no increased offer on in-store Costco purchases. That means when you shop at Costco warehouses and pay with your CIBC Costco Mastercard®, you’ll only earn 1% cash back.

There are a few additional benefits with the CIBC Costco Mastercard®. Your card doubles as your Costco membership, so you don’t need to worry about bringing your membership card with you. You also get mobile device insurance, purchase security, and extended warranty on purchases charged to your card.

You must have a Costco membership to apply for the card, but there’s no annual fee ($0). Up to 3 additional cardholders for $0. The only other requirement is a minimum annual income of $15,000.

If you have a minimum personal income of $60,000 or a household income of $100,000, you may qualify for the CIBC Costco World Mastercard. The two cards are the same, but the World version has a few extra benefits, such as car rental insurance. 

• The information for the CIBC Costco Mastercard® has been collected independently by Money.ca. The card details on this page have not been reviewed or provided by the card issuer.
• †Terms and Conditions Apply. This offer is not available for residents of Quebec.
  

When it comes to navigating Costco runs in Canada, the RBC Preferred World Elite Mastercard offers you a seamless shopping experience.

Accepted at Costco locations across the country, this card ensures you can stock up on your essentials with ease. Say goodbye to carrying cash or multiple cards—simply swipe your RBC Preferred World Elite Mastercard and enjoy the convenience of a single payment method at Costco.

A minimum personal income of $80,000 or a minimum household income of $150,000 is required to qualify for this card. It also has a annual fee.

If you're comfortable with the annual fee, the perks don't stop there. With the RBC Preferred World Elite Mastercard, you unlock a host of benefits designed to enhance your everyday transactions and lifestyle.

Enjoy up to 1.5% back on all purchases (without limit), allowing you to earn while you spend. Whether you're stocking up on groceries at Costco, dining out with friends, or making online purchases, every transaction earns you valuable cash back rewards, putting money back in your pocket with every swipe.

In addition to cash back rewards, the RBC Preferred World Elite Mastercard offers premium perks tailored to elevate your overall experience.

From convenient insurance coverage for car rentals to Mastercard airport experiences provided by DragonPass, this card ensures you're well taken care of wherever you go. Plus, stay connected with its complimentary Boingo‡ Wi-Fi account and access over 1 million hotspots worldwide. And benefit from instant-fuel savings at Petro-Canada or maximize your Be Well points at Rexall with your RBC Preferred card. Get a 12-month complimentary DashPass subscription18 – a value of almost $120. Enjoy unlimited deliveries with $0 delivery fees on orders of $15 or more when you pay with your eligible RBC credit card

With the PC Financial Mastercard, you’ll earn 10 PC Optimum points per dollar you spend while shopping at  Costco. This is a great option for your Costco purchases because, chances are, you do your regular grocery shopping elsewhere. If you choose a Loblaw’s branded store, points you earn at Costco can help offset your regular grocery bill.

Shoppers Drug Mart often has bonus redemption events to further boost the value of your PC Optimum points. That’s where you can redeem a set number of points for more than they’re usually worth. Earn 25 points per $1 at Shoppers Drug Mart and Pharmaprix. For example, you could redeem 200,000 PC Optimum points for $300 off. The regular value is $200, so that’s a 50% increase.

This card is also appealing because it’s relatively easy to be approved for. You only need an annual income of $15,000 and you don't need to have outstanding credit to be considered. Other factors may apply when determining your eligibility, but this card has fewer restrictions than other rewards cards.

• Sponsored advertising. President’s Choice Financial® Mastercard® is provided by President’s Choice Bank. The PC Optimum™ program is provided by President's Choice Services Inc. President’s Choice Bank is not responsible for the contents of this site, including any editorials or reviews that may appear on this site. For complete information regarding the PC® Mastercard®, PC® World Mastercard®, or PC® World Elite Mastercard®, please click on the “Apply Now” or other applicable button.

One of the best cash back credit cards in Canada is the BMO CashBack® World Elite®* Mastercard®*.

It’s a great card overall since you’ll earn 5% in cash back on groceries; 4% on transit, 3% on gas; 2% on recurring bills; and 1% on everything else (including Costco). While these earning rates are fantastic, there are billing cycle caps of $500 on groceries; $300 on transit; $300 on gas; and $500 on recurring bill payments. If you exceed those amounts, you’ll earn 1% cash back.

Another appealing aspect of this card is that you can redeem your cash back for as little as $1. That means no waiting for monthly or annual payouts like other cards. In addition, you can apply your cash back as a statement credit, have it deposited to your BMO account, or even invest it with BMO InvestorLine. 

Since this is a World Elite Mastercard, the annual personal income of $80,000 or household income of $150,000 does apply.

You also get the standard World Elite benefits such as free Boingo Wi-Fi, and a free membership in Mastercard Travel Pass provided by DragonPass (no free passes). The welcome bonus: Get up to 10% cash back in your first 3 months and the $120 annual fee waived in the first anniversary*

• *Terms and conditions apply.
• BMO is not responsible for maintaining the content on this site. Please click on the Apply now link for the most up to date information.