Best Costco credit cards Canada

Fact checked by Lubna Umar

Updated Feb 7, 2025

Costco Canada only accepts Mastercards, and using a Costco Mastercard can quickly pay for your membership fee and more with cash back and/or rewards. Find out that and more with our best Costco credit cards Canada list

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Looking for the best Mastercard for Costco? Here's our list of best Costco credit cards to maximize your earning while shopping.

Costco is a popular destination for budget and quality-conscious Canadian shoppers and if you want to use plastic to pay you're going to need a Mastercard. Here's what you need to know about the credit cards accepted at Costco and how to make the most of them.

Top credit cards at Costco Canada

Card

Welcome Offer

  • Why you can trust Money.ca's best Costco credit card in Canada list

    +

    Money.ca rates all credit cards on a numeric scale of 1 to 5 stars, with 1 being the lowest and 5 the highest rating, respectively. Money.ca’s proprietary scoring formulas break down the confusing language, complex points, rewards and earn rates to give you the real data that caters to your needs first, not ours.

    Our partnerships have no impact on our ratings, which are solely determined by the merits of each card. To learn more about how we researched and ranked these cards, read our full credit card review methodology.

Costco eligibility

What credit cards can you use at Costco?

Costco Canada does not accept Visa or American Express credit cards as of 2025. The company exclusively accepts Mastercard credit cards for credit card payments in their stores and online. Costco.ca still accepts Visa credit cards, but for the purposes of this article we’ll be picking Mastercards only, as they’re universally accepted at every Costco point of sale in Canada—warehouses, online, and at gas stations. 

Best overall 🏆

Best credit card for Costco Canada overall

up to 10%

Welcome Bonus

$950

First Year Value

$690

Annual Value

Welcome Bonus: Get up to 10% cash back in your first 3 months and the $120 annual fee waived in the first anniversary* Expires Jun 01, 2025

Learn More Apply Now On BMO's Secure Site

BMO CashBack® World Elite®* Mastercard®* - 🏆winner, best gas and best cash back card in the Money.ca Credit Card Awards

It’s a great card overall since you’ll earn up to 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. 

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). 

Key features:

  • Annual fee: $120 (annual fee waived in the first year*)
  • Welcome bonus: Get up to 10% cash back in your first 3 months and the $120 annual fee waived in the first anniversary*
  • Rewards: Earn 5% cash back on groceries; Earn 4% cash back on transit, including ride sharing, taxis, and public transportation; Earn 3% cash back on gas and EV charging; Earn 2% cash back on recurring bills; Earn 1% cash back on all other purchases
  • Oher perks: Enjoy a complimentary membership in the Dominion Automobile Association (DAA) - a $69 value

BMO CashBack World Elite pros and cons

Pros

Pros

  • Valuable sign-up bonus

  • High 5% cash back rate on groceries

  • Free roadside assistance

  • Excellent extended warranty and purchase protection terms

Cons

Cons

  • Restrictive spending limits for most cash back categories

  • Sign-up bonus structure is head-scratchingly complicated

  • High minimum income requirements

Disclosures:

  • *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.
Best no annual fee

Best no annual fee Costco credit card

$349

First Year Value

$289

Annual Value

Learn More Apply Now On Rogers Bank's Secure Site

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.

Key features:

  • Annual fee: No annual fee
  • Welcome bonus: N/A
  • Rewards: Earn 2% unlimited cash back on all eligible non-U.S. dollar purchases if you have 1 qualifying service with Rogers, Fido or Shaw; Earn 3% unlimited cash back on all eligible purchases made in U.S. dollars.; Earn 1.5% unlimited cash back on eligible non-U.S. dollar purchases.
  • Mobile roaming: Get 5 Roam Like Home days at no cost every year for Rogers mobile plans (up to $75 value)

Rogers Red pros and cons

Pros

Pros

  • Lucrative cash back rates on USD and CAD purchases, especially for Rogers, Fido or Shaw customers

  • No annual fee with valuable insurance benefits

  • Competitive against foreign transaction fee cards

  • Convenient cash back redemption options

  • Redemption bonus of 1.5x more cash back every time you redeem for Rogers, Fido or Shaw purchases

  • Travel insurance perks and airport lounge access

Cons

Cons

  • High income requirement: $80,000 personal or $150,000 household

  • Foreign transaction fee applies

  • Limited redemption options for statement credits

Best gas

Best Costco credit card for gas purchases

$246

First Year Value

$0

Annual Value

Learn More Apply Now On CIBC's Secure Site

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

Key features:

  • Annual fee: $0
  • Rewards: Earn 3% cash back at restaurants and at Costco gas†; Earn 2% cash back at other gas stations, electric vehicle charging stations and at Costco.ca†; Earn 1% cash back on all other purchases†
  • Income required: $15,000 (personal)

Costco Mastercard pros and cons

Pros

Pros

  • No annual fee

  • No fee for additional cards

  • Earn up to 3% cash back

  • Can double as your Costco membership card (though you’ll still have to pay the Costco membership fee)

  • Mobile device insurance

Cons

Cons

  • Exclusive to Costco members

  • Low cash back rate of 1% for purchases at Costco

  • High interest rate of 20.75%

  • Cash back can only be redeemed at Costco

Disclosures:

  • 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.
Best AIR MILES

Best AIR MILES credit card for Costco

2,000 miles

Welcome Bonus

$383

First Year Value

$53

Annual Value

Welcome Bonus: Get 2,000 AIR MILES Bonus Miles! * That's enough for $210 towards purchases with AIR MILES Cash!* Plus, get the $120 annual fee waived for your first anniversary Expires Jun 01, 2025

Learn More Apply Now On BMO's Secure Site

The BMO AIR MILES World Elite Mastercard offers an impressive earn rate specifically for Costco purchases:

  • Earn 2x the Miles for every $12 spent at any eligible grocery store* (like Costco)
  • This translates to a 1.67% to 1.75% cash back when redeemed as Cash Miles

That earn rate is very impressive in the grocery category, but lacks behind the BMO CashBack World Elite, our top grocery card in Canada. Additionally, the BMOAIR MILES program offers flexibility in how you can use your rewards:

  • Redeem for travel (flights, hotels, car rentals)
  • Use for merchandise or gift cards
  • Convert to cash discounts on purchases (Cash Miles)

This versatility allows you to maximize the value of your Costco spending based on your preferences.

AIR MILES World Elite pros and cons

Pros

Pros

  • Offers the largest Air Miles sign-up bonus on the market with a waived annual fee for the first anniversary*

  • High earn rates of up to 3x the Miles on eligible purchases

  • Exclusive travel discounts like 25% off one worldwide AIR MILES flight redemption annually

  • Airport lounge access through complimentary Mastercard Travel Pass membership

  • Comprehensive insurance package which covers medical, trip, flight delay, lost luggage and more

  • Additional Perks include BMO Concierge, digital subscriptions, and cash back promotions

Cons

Cons

  • An $80,000 personal/$150,000 household income is needed to qualify

  • Ideal for AIR MILES loyalists, may not suit those with a casual approach

  • The fixed redemption value for flights may not appeal to everyone

  • Optimal value only when frequently shopping at AIR MILES partners

Disclosures:

  • *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.


Honourable mentions🥉
Runner-up cash back

Honourable mention: cash back

$256

First Year Value

$0

Annual Value

Learn More Apply Now On RBC's Secure Site

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

RBC cash back pros and cons

Pros

Pros

  • High flat cash back rate

  • No annual fee for additional cardholders

  • No limit to cash back earned²

  • Access to Mastercard World Elite Benefits

  • Save 3₵ per litre on Gas at Petro-Canada and Earn 20% More Petro-Points⁷

  • Redeem cash back anytime once you hit $25

  • Complimentary access to Boingo‡ Public Wi-Fi

  • Auto Rental Collision/Loss Damage⁴, Purchase and Extended Warranty Insurance³

Cons

Cons

  • High minimum income requirements

  • $25,000 Cap on 1.5% Cash Back (but earn 1% Cash Back after $25,000)¹

  • No medical, travel or accidental death insurance

  • No welcome bonus or introductory rates

Disclosures:

  • *This post contains affiliate links. Please read disclaimer for more info.

    Refer to RBC page for up to date offer terms and conditions

    Disclaimer: Money.ca may engage in affiliate marketing, which is done by embedding tracking links into Money.ca. If you click on a link for an affiliate partnership, a cookie will be placed on your browser to track any sales for purposes of commissions. 
Runner-up no fee

Honourable mention: no annual fee

10 pts per $1

Welcome Bonus

$316

First Year Value

$286

Annual Value

Learn More Apply Now On PC Financial's Secure Site

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.

PC Financial Mastercard pros and cons

Pros

Pros

  • No annual fee, ideal for budget-conscious shoppers

  • Earn 10 points per $1 spent everywhere

  • Accelerated points at Esso, Shoppers Drug Mart, and PC Travel

  • Points redeemable at over 2,500 stores nationwide

  • Purchase insurance and extended warranties for added protection

Cons

Cons

  • Middle-of-the-road rewards compared to other no-fee cards

  • Limited redemption options compared to some competitors

  • Lacks introductory benefits like bonus points

  • Requires spending at specific stores for maximum benefits

  • Point value may seem low initially, despite earning potential

Disclosures:

  • 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.

“Consider combining cards for optimal rewards: use a dedicated Costco card for gas and online, and a higher-earning card for in-store purchases.”

Cory Santos, Money.ca credit card expert

Comparing reward value with our top Costco credit card picks

Costco stats

How popular is Costco in Canada?

Canada is Costco's second-largest marketplace worldwide, with over 100 locations (109 as of January 2025), more than double the 41 locations in Mexico (the third-largest Costco marketplace), but trailing the US, which consists of over 610 locations as of 2025.

Rank/Country
Costco locations (#)
1) United States of America
617
2) Canada
109
3) Mexico
41
4) Japan
36
5) United Kingdom
29
6) South Korea
19
7) Australia
15
8) Taiwan
14
9) China
7
10) Spain 
5
Costco online

Which Costco credit cards can you use online?

To compete with other dominant retailers (we’re looking at you, Amazon), Costco has brought online ordering and home delivery to Canadians. It’s already available in most of Canada, leading us to ask: Which card is best for ordering online at Costco.ca? While any of the above Mastercards will more than suffice, Costco also allows members to shop with their Visa credit cards as well—but only for online shopping (not useable for shopping in Costco warehouses). 

Costco hack: Shop online with Visa

You can still use a Visa credit card when shopping online at Costco.ca

Costco groceries

Grocery rewards are highly sought after by the average Canadian, as they offer significant value. However, if you're specifically looking for a Costco grocery card, I'm sorry to inform you that Costco is not categorized as a grocery store according to Mastercard's merchant code system. This means that even if your credit card offers bonus rewards for grocery purchases, you won't earn any additional points or cash back when using your card at Costco. 

Why Mastercard?

Although it’s never been officially disclosed, Costco likely only accepts Mastercard in Canada because they’ve negotiated an exclusive deal with the payment network. Whenever a Costco customer pays with their credit card, Mastercard gets a small percentage since they’re the host payment network. By agreeing to an exclusive deal with Mastercard, Costco can pass on any savings to the consumer.

It’s worth noting that Mastercard wasn’t always the only credit card accepted by Costco. There used to be an exclusive agreement with American Express, but that deal ended in 2014. The official Costco credit card can change at any time. Right now, the partnership is with CIBC, but previously, Capital One was the provider.

Costco payments

Payment methods and credit cards accepted at Costco Canada

There are four main payment methods available at Costco warehouses:

Costco Canada's accepted payment methods include:

  • Any Mastercard credit card
  • Costco shop card
  • Debit cards
  • Cash
  • Cheques
  • Gift cards
🍁Buy Canadian

🍁 Tips for "buying Canadian" at Costco

Great deals are one thing but shopping for Canadian brands is a great deal in and of itself. Despite being an American brand, Costco has a commitment to Canadian suppliers that includes priority placement for Canadian goods, a focus on seasonal Canadian produce and active partnerships with local producers

Costco employs several strategies to highlight Canadian products:

Identification 
Description
Implementation
Shelf Tags
Provincial and national flag indicators
Visible on product shelves
Product Labels
"Made in Canada" and "Product of Canada" designations
On packaging
Strategic placement
Dedicated sections for Canadian products
Throughout store

There are two distinct certification categories that help you identify Canadian goods: 

made in Canada Costco products guide

Made in Canada

"Made in Canada" refers to a product that saw its last substantial transformation in Canada or required significant Canadian processing. These products may contain imported ingredients

product of canada best Costco credit cards Canada Moneyca

Product of Canada

"Product of Canada" refers to any product where nearly all ingredients and labor are Canadian.

Read more: These are the big brands that actually make Costco's Kirkland products in Canada

Expert tip: Get a Costco Mastercard with a high earn rate

Costco cards are limited to Mastercard options if you want to shop in-store, but make sure to read the fine print on rewards because despite being the credit card brand of choice, Costco purchases may be excluded from high earn-rate categories. Costco is one of the most popular grocery stores that Canadians shop for. However, many Canadians are often surprised to know that their credit cards don’t work quite the same way at Costco as they do at other grocery stores. Not only does Costco only accept Mastercard branded credit cards in their warehouse stores, but many credit cards with rewards points don’t always work the same way when shopping here either. Shopping at Costco is often an exception to higher-earn categories, specifically when it comes to groceries. Look for a Costo-branded Mastercard to get the most out of your big shops here.

Hannah Logan, Money.ca savings and travel expert

Summary of picks

Summary of best Costco Mastercard picks

Card Name Rewards Get Started
Rogers Red World Elite® Mastercard®
Best no-fee card with rewards
Apply Now
CIBC Costco Mastercard Best for Costco gas & dining
Apply Now
PC® Mastercard® Best for PC Optimum points
Visit PC Financial
RBC Cash Back Preferred World Elite Mastercard Best for Everyday Purchases
Apply Now
BMO CashBack® World Elite®* Mastercard®* Best for grocery rewards
Apply Now
Conclusion

Should you consider a Costco credit card?

Ultimately, the right credit card can turn your regular Costco shopping into a rewarding experience that extends far beyond just saving money on bulk purchases. Whether you’re stocking up on household essentials, filling up at the gas pump, or making a major purchase, the right card in your wallet can help you get more value from every dollar spent at Costco Canada.

FAQs

Costco Mastercard FAQs

  • Does Costco take American Express?

    +

    American Express cards are not accepted at Costco warehouses or online at Costco.ca. That said, you can indirectly use your American Express credit card for Costco purchases. To do this, you would find a grocery store that accepts American Express and sells Costco gift cards. You would purchase those gift cards with your American Express credit card. Then, when you’re shopping at Costco, you pay with your gift cards.

    This strategy can benefit people who don’t have a Mastercard or prefer to earn points with their American Express credit card.

  • Which credit cards does Costco Canada accept?

    +

    Costco warehouses and Costco business centres accept any Mastercard. This includes any prepaid card that uses the Mastercard network. Some financial institutions that offer Mastercards include RBC, BMO, Rogers Bank, PC Financial, Brim Financial, Tangerine, CIBC, and Neo.

  • Does Costco Canada accept Visa?

    +

    Visa is not accepted at Costco warehouses or Costco business centres in Canada. However, Visa can be used for purchases made at Costco.ca.

  • What’s the best Costco credit card?

    +

    The best Costco credit card depends on your needs. Someone that shops a lot at Costco.ca should consider the CIBC Costco Mastercard since it gives you an increased earning rate.

    Those looking to maximize their return should consider the Rogers Red World Elite® Mastercard® since they give you a solid flat cash back in rewards.

Cory Santos Finance editor

Cory Santos is a finance writer, editor and credit card expert with nearly a decade of experience in personal finance. Cory joined Wise Publishing from BestCards, with bylines in numerous print and digital publications across North America, including the Miami Herald, St. Louis Post-Dispatch, Debt.ca, AOL, MSN and Medium as well as financial podcasts like KOFE Talk.

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