What credit cards does Costco Canada accept?

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Updated: July 19, 2024

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Costco is a popular destination for budget and quality-conscious Canadian shoppers. The warehouse-style retailer offers variety, convenience, and low prices in its bulk-sized shopping experience, and its successful retail model has resulted in several new Canadian stores being opened in the past few years.

A Costco membership costs $60 per year for those who want a basic plan for themselves and their spouse, but shopping with a smart, Costco-compatible credit card can easily make up for that membership fee via cash back and/or rewards.

Costco eligibility

What credit cards can you use at Costco?

Costco had a 15-year, exclusive relationship with American Express until 2014, offering co-branded Amex cards for Costco shoppers to use as both their proof of membership and their payment method. But a rift developed between the two companies and they ultimately parted ways, with Mastercard taking over as Costcoā€™s new credit card processor in 2015.

Mastercardā€™s ongoing credit card partnership with Costcoā€™s Canadian warehouses is exclusive; Amex and Visa credit cards are unfortunately not accepted as a means of payment at Costco warehouse registers. Costco.ca still accepts Visa credit cards, but for the purposes of this article weā€™ll be picking Mastercards only, as theyā€™re universally accepted at every Costco point of sale in Canadaā€”warehouses, online, and at gas stations. 

Summary of picks

Best Costco Mastercards for Canadians in 2024

Card Name Rewards Get Started
Rogersā„¢ World EliteĀ® MastercardĀ® Best no-fee card with rewards
ā—¦$0 annual fee (To maintain eligibility, you must spend at least $15,000/year.)
ā—¦3% unlimited cash back on purchases made in U.S. dollars
ā—¦1.5% unlimited cash back on everything else
Apply Now
BMO Ascendā„¢ World EliteĀ®* MastercardĀ®* Best for international travelers
ā—¦$150 annual fee
ā—¦5x the points on eligible travel
ā—¦3x the points on eligible dining, entertainment, and recurring bill payments
ā—¦1x point for all other eligible purchases
Apply Now
CIBC Costco Mastercard Best for Costco gas & dining
ā—¦$0 Annual Fee (Up to 3 additional cardholders for $0)
ā—¦3% cash back at restaurants and Costco gas
ā—¦2% back at other gas stations and at Costco.ca
ā—¦1% cash back on all other purchases (including at Costco)
Apply Now
PCĀ® MastercardĀ® Best for PC Optimum points
ā—¦30 points per $1 spent when purchasing travel through Presidentā€™s Choice
ā—¦25 points per $1 spent at Shoppers Drug Mart and Pharmaprix
ā—¦10 points everywhere else
ā—¦Earn 2c per litre in PC Optimum points at Esso and Mobil
Apply Now
RBC Cash Back Preferred World Elite Mastercard Best for Everyday Purchases
ā—¦$99 annual fee
ā—¦1.5% unlimited cash back on all purchases
ā—¦Get 50 Be Well points for every $1 spent on eligible products at Rexall
ā—¦save 3Ā¢/L on fuel and get 20% more Petro-Points
Apply Now
BMO CashBackĀ® World EliteĀ®* MastercardĀ®* Best for grocery rewards
ā—¦$120 annual fee
ā—¦5% cash back on groceries*
ā—¦4% cash back on transit*
ā—¦3% cash back on gas*
ā—¦ Spend caps apply to cash back rates*
Apply Now
Rogers Fidoā„¢ MastercardĀ® Best for Fido customers
ā—¦No annual fee
ā—¦1.5% cash back rewards on all online and in-store Fido purchases
ā—¦1% cash back rewards rate on all other purchases
Apply Now
RBC Cash Back Mastercard Best for simple cash back
ā—¦No annual fee
ā—¦2% unlimited cash back on groceries
ā—¦1% unlimited cash back on everything else
ā—¦Save 3ā‚µ per litre at Petro-Canada
Apply Now

Expert tip: Get a Costco branded 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 donā€™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 donā€™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.

ā€”Hannah Logan, Money.ca credit card, saving and travel expert

Keep in mind that many of Canadaā€™s top cash back and rewards cards give their highest earn rates for grocery purchases. But Mastercardā€™s merchant codes (the system by which stores are sorted into purchase categories) do not recognize Costco as a grocery store, so weā€™ve generally chosen credit cards that offer favourable flat cash back or rewards rates to customers on all their purchasesā€”Costco included.

Best overall

Best Costco credit card overall

BMO Ascendā„¢ World EliteĀ®* MastercardĀ®

Apply now

4.0

up to 90K pts

Welcome offer

Excellent

Suggested credit score

Get up to 90,000 points and the annual fee waived in your first anniversary for both the primary cardholder and authorized users.*

Expires

Nov 30, 2024

Pros

  • High-value welcome offer

  • Flexible airport lounge access

  • BMO Rewards points can be used to cover flight taxes and fees

  • Great for those who frequently rent cars

  • Good for Costco and No Frills shoppers

Cons

  • So-so earn rates relative to its annual fee

  • Points have low redemption value compared to other travel rewards programs

  • Charges foreign transaction fees

  • Relatively high minimum income requirements

Eligibility

Recommended Credit Score

Excellent

Required Annual Personal Income

$80,000

Required Annual Household Income

$150,000

Pros

  • High-value welcome offer

  • Flexible airport lounge access

  • BMO Rewards points can be used to cover flight taxes and fees

  • Great for those who frequently rent cars

  • Good for Costco and No Frills shoppers

Cons

  • So-so earn rates relative to its annual fee

  • Points have low redemption value compared to other travel rewards programs

  • Charges foreign transaction fees

  • Relatively high minimum income requirements

Eligibility

Recommended Credit Score

Excellent

Required Annual Personal Income

$80,000

Required Annual Household Income

$150,000

Earn 5x the points for every $1 spent on eligible travel purchases*

5x

Earn 3x the points for every $1 spent on eligible dining and entertainment purchases and recurring bill payments*

3x

Earn 1 point for every $1 spent everywhere else*

1x

Complimentary membership in Mastercard Travel Pass provided by DragonPass, with 4 annual complimentary passes

4

Purchase APR

20.99%

Balance Transfer Rate

23.99%

Cash Advance APR

23.99%

Annual Fee

$150

Foreign Transaction Fee

2.50%

With one of the best flat rewards earning rates on the market, you can now get the highest rewards points for travel of any premium flexible travel card in Canadaā€  with the BMO World Eliteā„¢* MastercardĀ®*. Cardholders get 5x the points for every $1 spent on eligible travel purchases,* 3x the points for every $1 spent on eligible dining and entertainment purchases and recurring bill payments,* and 1 point for every $1 spent everywhere else.*

The BMO World Eliteā„¢* MastercardĀ®* is an effective and flexible way to squeeze savings from your Costco purchases, and itā€™s made even better with a welcome bonus of up to 60,000* points. Though its $150 price tag is a bit steep, the inclusion of complimentary membership in Mastercard Travel Pass provided by DragonPass,* with four annual complimentary passes, plus an impressive insurance package*, makes it more than worthwhile for Costco shoppers who love to travel in style.

  • $120 annual fee
  • 5x the points for every $1 spent on eligible travel purchases,* 3x the points for every $1 spent on eligible dining and entertainment purchases and recurring bill payments,* 1 point for every $1 spent everywhere else.*
  • Up to 60,000 point welcome bonus and first year fee waiver*
  • Complimentary membership in Mastercard Travel Pass provided by DragonPass,* with four annual complimentary passes.
  • Insurance for rental car damage, emergency medical, and more*
  • Purchase protection and extended warranties*

ā€ Statement based on a comparison of the redeemable value of the non-promotional travel rewards points earned on premium flexible Canadian credit cards as of May 3, 2022. ā€œFlexibleā€ is defined as points earned when you purchase travel anywhere and ā€œpremiumā€ refers to cards with an annual fee of ā‰¤ $150 or has an income requirement of ā‰¤ $150,000 annual individual income.

Best international

Best Costco credit card for international use

Rogers Red World EliteĀ® MastercardĀ®

Apply now

4.1

Excellent

Suggested credit score

to receive the latest news, tips and offers by email

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

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

  • Foreign transaction fee applies

  • Limited redemption options for statement credits

Eligibility

Recommended Credit Score

Excellent

Required Annual Personal Income

$80,000

Required Annual Household Income

$150,000

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

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

  • Foreign transaction fee applies

  • Limited redemption options for statement credits

Eligibility

Recommended Credit Score

Excellent

Required Annual Personal Income

$80,000

Required Annual Household Income

$150,000

Earn 3% unlimited cash back on purchases made in US dollars

3%

Earn 2% unlimited cash back on all eligible non-US dollar purchases if you have 1 qualifying service with Rogers, Fido or Shaw

2%

Earn 1.5% unlimited cash back on everything else

1.5%

Get 1.5x more cash back every time you redeem for Rogers, Fido or Shaw purchases

1.5x Cash Back

Purchase APR

20.99%

Balance Transfer Rate

22.99%

Cash Advance APR

22.99%

Annual Fee

$0

A Rogers card catering to both Costco fans and travel junkies is the Rogersā„¢ World EliteĀ® Mastercard. It grants 1.5% cash back for all purchases made in Canadian dollars. Thatā€™s almost double Costcoā€™s own Mastercard, plus cardholders will also earn 3% cash back on all U.S. dollar purchases (net 0.5% after the foreign transaction fee). 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. Thereā€™s no annual fee, but youā€™ll have to demonstrate $80,000 in annual personal income to be eligible.

  • 1.5% cash back on all purchases in CAD
  • 3% cash back on all purchases in U.S. dollars
  • $0 annual fee
  • Get a $25 welcome bonus after your first purchase
  • Travel medical, trip interruption and cancellation, and rental car insurance
  • Extended warranty and purchase protection perks
  • Redeem cash back flexibly on gas, groceries, and everyday purchases

*Terms and conditions apply.

Best co-branded

CIBC CostcoĀ®ā€  MastercardĀ®

Apply now

3.0

up to 3% back

Welcome offer

Good

Suggested credit score

Earn up to 3% cash back on eligible purchases everywhere Mastercard is accepted.

Pros

  • No annual fee

  • No fee for additional cards

  • Earn up to 3% cash back

  • Can double as your Costco membership card (though youā€™ll still have to pay the Costco membership fee)

  • Mobile device insurance

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

Eligibility

Recommended Credit Score

Good

Required Annual Personal Income

$15,000

Pros

  • No annual fee

  • No fee for additional cards

  • Earn up to 3% cash back

  • Can double as your Costco membership card (though youā€™ll still have to pay the Costco membership fee)

  • Mobile device insurance

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

Eligibility

Recommended Credit Score

Good

Required Annual Personal Income

$15,000

cash back at restaurants and at Costco gas

3%

cash back at other gas stations and at Costco.ca

2%

cash back on all other purchases including at Costco

1%

Purchase APR

20.75%

Balance Transfer Rate

22.49%

Cash Advance APR

22.49%

Annual Fee

$0

When looking at Costco credit cards, many people will consider the CIBC Costco Mastercard since itā€™s Costco's official co-branded credit card. With this card, youā€™ll earn 3% cash back at restaurants and Costco gas; 2% at other gas stations and Costco.ca; and 1% on all other purchases. While the earning rate is respectable, thereā€™s no increased offer on in-store Costco purchases. That means when you shop at Costco warehouses and pay with your CIBC Costco Mastercard, youā€™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 donā€™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 thereā€™s no annual fee. 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. 

Best RBC

RBC Cash Back Preferred World Elite Mastercard

Apply now

4.0

Good

Suggested credit score

to receive the latest news, tips and offers by email

Pros

  • High flat cash back rate

  • No annual fee for additional cardholders

  • No limit to cash back earnedĀ²

  • Access to Mastercard World Elite Benefits

  • Save 3ā‚µ per litre on Gas at Petro-Canada and Earn 20% More Petro-Pointsā·

  • Redeem Cash Back Anytime Once You Hit $25

  • Complimentary Access to Boingoā€” Public Wi-Fi

  • Auto Rental Collision/Loss Damageā“, Purchase and Extended Warranty InsuranceĀ³

Cons

  • High minimum income requirements

  • $25,000 Cap on 1.5% Cash Back (but earn 1% Cash Back after $25,000)Ā¹

  • No medical, travel or accidental death insurance

  • No welcome bonus or introductory rates

Eligibility

Recommended Credit Score

Good

Required Annual Personal Income

$80,000

Required Annual Household Income

$150,000

Pros

  • High flat cash back rate

  • No annual fee for additional cardholders

  • No limit to cash back earnedĀ²

  • Access to Mastercard World Elite Benefits

  • Save 3ā‚µ per litre on Gas at Petro-Canada and Earn 20% More Petro-Pointsā·

  • Redeem Cash Back Anytime Once You Hit $25

  • Complimentary Access to Boingoā€” Public Wi-Fi

  • Auto Rental Collision/Loss Damageā“, Purchase and Extended Warranty InsuranceĀ³

Cons

  • High minimum income requirements

  • $25,000 Cap on 1.5% Cash Back (but earn 1% Cash Back after $25,000)Ā¹

  • No medical, travel or accidental death insurance

  • No welcome bonus or introductory rates

Eligibility

Recommended Credit Score

Good

Required Annual Personal Income

$80,000

Required Annual Household Income

$150,000

Earn up to 1.5% cash back on your spending without limit.

1.5%

Link your card and instantly save 3Ā¢/L on fuel and get 20% more Petro-Points

$0.03

Get 50 Be Well points for every $1 spent on eligible products at Rexall

50

Purchase APR

20.99%

Balance Transfer Rate

22.99%

Cash Advance APR

22.99%

Annual Fee

$99

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 cardsā€”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 $99 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% cash back rewards on your 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 Boingoā€” 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.

Best newcomers

Best for no annual fee

PCĀ® MastercardĀ®

Apply now

4.0

10 pts per $1

Welcome offer

Good

Suggested credit score

Earn 10 points per $1 spent at PC grocery stores

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

  • 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

Eligibility

Recommended Credit Score

Good

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

  • 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

Eligibility

Recommended Credit Score

Good

Earn 10 points per $1 spent everywhere

10 points

Earn 2c per litre inĀ PC OptimumĀ points at Esso and Mobil

2 cents

Earn 30 points per $1 when purchasing travel through Presidentā€™s Choice

30 points

Earn 25 points per $1 at Shoppers Drug Mart and Pharmaprix

25 points

Purchase APR

21.99%

Balance Transfer Rate

22.97%

Cash Advance APR

22.97%

Annual Fee

$0

With the PC Financial Mastercard, youā€™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 Loblawā€™s banded 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. Thatā€™s where you can redeem a set number of points for more than theyā€™re usually worth. For example, you could redeem 200,000 PC Optimum points for $300 off. The regular value is $200, so thatā€™s a 50% increase.

This card is also appealing because itā€™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.

Best no fee

Best Costco card with no annual fee

BMO CashBackĀ® World EliteĀ® Mastercard

Apply now

4.0

up to 10%

Welcome offer

Excellent

Suggested credit score

Get up to 10% cash back in your first 3 months and the $120 annual fee waived in the first anniversary*.

Expires

Nov 30, 2024

Pros

  • Valuable sign-up bonus

  • High 5% cash back rate on groceries

  • Free roadside assistance

  • Excellent extended warranty and purchase protection terms

Cons

  • Restrictive spending limits for most cash back categories

  • Sign-up bonus structure is head-scratchingly complicated

  • High minimum income requirements

Eligibility

Recommended Credit Score

Excellent

Required Annual Personal Income

$80,000

Required Annual Household Income

$150,000

Pros

  • Valuable sign-up bonus

  • High 5% cash back rate on groceries

  • Free roadside assistance

  • Excellent extended warranty and purchase protection terms

Cons

  • Restrictive spending limits for most cash back categories

  • Sign-up bonus structure is head-scratchingly complicated

  • High minimum income requirements

Eligibility

Recommended Credit Score

Excellent

Required Annual Personal Income

$80,000

Required Annual Household Income

$150,000

Groceries: 5% cash back up to $500 spent per month ($25 in cash back)*

5%

Transit: 4% cash back up to $300 spent per month ($12 in cash back)*

4%

Gas: 3% cash back up to $300 spent per month ($9 in cash back)*

3%

Recurring Bills: 2% cash back up to $500 spent per month ($10 in cash back)*

2%

Everything Else: 1% cash back, unlimited*

1%

Purchase APR

20.99%

Balance Transfer Rate

23.99%

Cash Advance APR

23.99%

Annual Fee

$120

Foreign Transaction Fee

2.90%

One of the best cash back credit cards in Canada is the BMO CashBackĀ® World EliteĀ®* MastercardĀ®*. Itā€™s a great card overall since youā€™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, youā€™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 is 10% cash back (capped at $260, conditions apply) for the first three months, and the annual fee of $120 is waived for the first year. Offer ends October 31, 2024.

Best simplicity

Best card for simplicity

Rogers Fidoā„¢ Mastercard

Apply now

3.0

Good

Suggested credit score

to receive the latest news, tips and offers by email

Pros

  • High 1% cash back on all purchases

  • 1.5% cash back on Fido bills

  • Unlimited cash back with no caps or tiers

  • $25 welcome bonus with a simple condition

  • No annual fee, making it risk-free to try

Cons

  • Welcome bonus has conditions

  • Focused benefits on Fido-related spending

  • Limited redemption options for cash back

  • No detailed comparison with other cards

  • Potential bias in the review towards Fido customers

Eligibility

Recommended Credit Score

Good

Pros

  • High 1% cash back on all purchases

  • 1.5% cash back on Fido bills

  • Unlimited cash back with no caps or tiers

  • $25 welcome bonus with a simple condition

  • No annual fee, making it risk-free to try

Cons

  • Welcome bonus has conditions

  • Focused benefits on Fido-related spending

  • Limited redemption options for cash back

  • No detailed comparison with other cards

  • Potential bias in the review towards Fido customers

Eligibility

Recommended Credit Score

Good

The 1% cash back rewards rate on all purchases is extremely rich when compared to the market for no-fee cards

1%

Welcome bonus: Fido currently offers a sign-up bonus of $25 when you make your first purchase within three months of receiving your card. Conditions apply.

$25

Earn 1.5% cash back rewards on all online and in-store Fido purchases, including your monthly Fido bill.

1.5

Purchase APR

19.99%

Cash Advance APR

22.99%

Annual Fee

$0

The Rogers Fidoā„¢ MastercardĀ® is a basic, no-fee cash back credit card. You'll 1.5% cash back on recurring payments and subscriptions, and you get 1% cash back on all other purchases, with no limits. To redeem your cash back, simply use the Rogers Bank app and apply it to one of your recent purchases.

In terms of straight cash savings on Costco bills, this is superior to Costcoā€™s in-house card. Donā€™t try to use it at a Costco in the USA, however, because unlike our Mastercard-exclusive situation in Canada, our neighbors down south can only use Visa at their local Costco.

This card is attractive because thereā€™s no annual income requirement and no yearly fee, so itā€™s a popular pick for students and those with a limited income. In addition, new applicants that are approved can earn $25 in cash back when they make at least one purchase with their card within three months of receiving the card.

As the Rogers Fidoā„¢ MastercardĀ® is an entry level card, it lacks additional benefits. That said, the card includes built-in security features such as transaction monitoring and alerts. Thatā€™s where youā€™ll be sent a text message or email if thereā€™s been a suspicious charge to your card. Zero liability insurance is also included, so you wonā€™t be held liable for any unauthorized charges.

Honourable mention

Honourable mention

RBC Cash Back Mastercard

Apply now

4.1

0.99% intro

Welcome offer

Good

Suggested credit score

to receive the latest news, tips and offers by email

Pros

  • No annual fee, no fee for additional cardholders

  • Up to 2% cash back on groceriesĀ², up to 1% cash back on everything elseĀ²

  • No limit on cash back earnedĀ¹

  • Save money on gas at Petro-Canadaāµ

  • Easy approval requirements

Cons

  • Cash back rewards on groceries drop to 1% after you accumulate $6,000 in grocery charges

  • No travel insurance or other perks

  • No welcome bonus

  • 0.5% applies to the cash back on everything else up to $6,000 but what is impressive is that for all non-grocery spend the cash back rate actually goes up from the 0.5% to 1% on spend over $6,000, rewarding as your spend more instead of diminishing

  • No travel insurance or other perks

  • No welcome bonus

Eligibility

Recommended Credit Score

Good

Pros

  • No annual fee, no fee for additional cardholders

  • Up to 2% cash back on groceriesĀ², up to 1% cash back on everything elseĀ²

  • No limit on cash back earnedĀ¹

  • Save money on gas at Petro-Canadaāµ

  • Easy approval requirements

Cons

  • Cash back rewards on groceries drop to 1% after you accumulate $6,000 in grocery charges

  • No travel insurance or other perks

  • No welcome bonus

  • 0.5% applies to the cash back on everything else up to $6,000 but what is impressive is that for all non-grocery spend the cash back rate actually goes up from the 0.5% to 1% on spend over $6,000, rewarding as your spend more instead of diminishing

  • No travel insurance or other perks

  • No welcome bonus

Eligibility

Recommended Credit Score

Good

Up to 2% unlimited cash back on groceries

2%

Up to 1% unlimited cash back on everything else

1%

Link your card and instantly save 3Ā¢/L on fuel and 20% more Petro-Points at Petro Canada

$0.03

Get 50 Be Well points for every $1 spent on eligible products at Rexall

50

Purchase APR

20.99%

Balance Transfer Rate

22.99%

Cash Advance APR

22.99%

Annual Fee

$0

When it comes to tackling your Costco shopping trips in Canada, the RBC Cash Back Mastercard is an easy go-to companion, offering seamless usability and a range of benefits to enhance your shopping experience. Accepted at Costco locations nationwide, this card ensures you can breeze through checkout lines with ease, simplifying your payment process and allowing you to focus on stocking up on your favorite bulk items.

But the perks of the RBC Cash Back Mastercard extend far beyond its usability at Costco. With this card in hand, you'll enjoy a plethora of benefits designed to maximize your savings and convenience. Earn 2% unlimited cash back rewards on groceries, and 1% unlimited cash back on everything else.

Itā€™s worth noting that many credit card issuers do not consider big-box stores, like Costco, grocery stores. However, you can count on earning the minimum cash back rate of 1% on your Costco runs. Most conveniently the card features no annual fee and savings on fuel. Link your card and instantly save 3Ā¢/L on fuel and 20% more Petro-Points at Petro Canada

*Terms and Conditions apply

Refer to RBC Page for up to date offer terms and conditions.

Costco online

Which Costco credit cards can you use online?

To compete with other dominant retailers (weā€™re looking at you, Amazon), Costco has brought online ordering and home delivery to Canadians. Itā€™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 has also invited Visa cardholders to use their cards as wellā€”but only for online shopping (not useable for shopping in Costco warehouses). Check out our list of the best Visa cards in Canada if you do most of your Costco shopping online and havenā€™t found a Mastercard in this article to your taste.

Costco groceries

Can you earn grocery rewards at Costco?

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?

Why is Mastercard the only credit card accepted at Costco?

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

Itā€™s worth noting that Mastercard wasnā€™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:

  • Credit cards (only Mastercard)
  • Cash
  • Debit
  • Costco gift cards

Youā€™re allowed to make your payment with any combination of the three. 

FAQs

FAQs

  • Does Costco take American Express?

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    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 youā€™re shopping at Costco, you pay with your gift cards.

    This strategy can benefit people who donā€™t have a Mastercard or prefer to earn points with their American Express credit card.

  • What credit cards does Costco Canada accept?

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    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?

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

  • Whatā€™s the best Costco credit card?

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    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. If travel rewards are your priority, then the BMO Ascendā„¢ World EliteĀ®* MastercardĀ®* can be appealing.

    Those looking to maximize their return should consider the WestJet RBC World Elite Mastercard or the Rogersā„¢ World EliteĀ® MastercardĀ® since they give you 1.5% back in rewards. Finally, if you want a card with low requirements to be approved, the PC Financial Mastercard is a popular option.

Cory Santos Finance editor

Cory Santos is a finance writer, editor and credit card expert with over seven years 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, AOL, MSN and Medium as well as financial podcasts like KOFE Talk.

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