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
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 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
Get this card if you...
Annual Fee & Annual Interest Rates
$120
Annual Fee
21.99%
Purchase
23.99%
Cash Advance
23.99%
Balance Transfer
-
Our Take
BMO CashBack® World Elite®* Mastercard®* ReviewThe BMO CashBack® World Elite®* Mastercard®* is a premium credit card offering elevated cash back rates on categories such as groceries, transit, gas, and recurring bill payments. Cardholders benefit from complimentary roadside assistance, comprehensive insurance coverage, and flexible cash back redemption options, so you can maximize your rewards on everyday spending.
Eligibility
Excellent (740+)
Recommended Credit Score
$80,000
Required Annual Personal Income
$150,000
Required Annual Household Income
-
Pros
Cons
-
-
Annual Interest Rates
21.99%
Purchase
23.99%
Cash Advance
23.99%
Balance Transfer
Fees
$120
Annual Fee
$2.5
Foreign Transaction
-
Rewards cash back
5%
Groceries: 5% cash back up to $500 spent per month ($25 in cash back)*
4%
Transit: 4% cash back up to $300 spent per month ($12 in cash back)*
3%
Gas: 3% cash back up to $300 spent per month ($9 in cash back)*
2%
Recurring Bills: 2% cash back up to $500 spent per month ($10 in cash back)*
1%
Everything Else: 1% cash back, unlimited*
Insurance Benefits
$2,000,000
Emergency medical insurance amount
$500,000
Travel accident insurance amount
$65,000
Rental car insurance amount
Our Take
The BMO CashBack® World Elite®* Mastercard®* is a premium credit card offering elevated cash back rates on categories such as groceries, transit, gas, and recurring bill payments. Cardholders benefit from complimentary roadside assistance, comprehensive insurance coverage, and flexible cash back redemption options, so you can maximize your rewards on everyday spending.
Eligibility
Excellent (740+)
Recommended Credit Score
$80,000
Required Annual Personal Income
$150,000
Required Annual Household Income
Pros
Cons
Annual Interest Rates
21.99%
Purchase
23.99%
Cash Advance
23.99%
Balance Transfer
Fees
$120
Annual Fee
$2.5
Foreign Transaction
Rewards cash back
5%
Groceries: 5% cash back up to $500 spent per month ($25 in cash back)*
4%
Transit: 4% cash back up to $300 spent per month ($12 in cash back)*
3%
Gas: 3% cash back up to $300 spent per month ($9 in cash back)*
2%
Recurring Bills: 2% cash back up to $500 spent per month ($10 in cash back)*
1%
Everything Else: 1% cash back, unlimited*
Insurance Benefits
$2,000,000
Emergency medical insurance amount
$500,000
Travel accident insurance amount
$65,000
Rental car insurance amount
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
-
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
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 Costco credit card
$349
First Year Value
$289
Annual Value
Get this card if you...
Annual Fee & Annual Interest Rates
$0
Annual Fee
20.99%
Purchase
22.99%
Cash Advance
22.99%
Balance Transfer
-
Our Take
Rogers Red World Elite® Mastercard® ReviewThe Rogers™ World Elite® Mastercard® is a no-annual-fee credit card offering elevated cash back rates on purchases made in U.S. dollars, with a standard rate on all other eligible purchases. Cardholders benefit from comprehensive insurance coverage, including emergency medical and rental car collision/damage protection, as well as access to over 1,300 airport lounges worldwide through Mastercard Travel Pass provided by DragonPass; however, the card has a high income requirement.
Eligibility
Excellent (740+)
Recommended Credit Score
$80,000
Required Annual Personal Income
$150,000
Required Annual Household Income
-
Pros
Cons
-
-
Annual Interest Rates
20.99%
Purchase
22.99%
Cash Advance
22.99%
Balance Transfer
Fees
$0
Annual Fee
$2.5
Foreign Transaction
3.00%
Balance Transfer
-
Rewards cash back
3%
Earn 3% unlimited cash back on purchases made in US dollars
2%
Earn 2% unlimited cash back on all eligible non-US dollar purchases if you have 1 qualifying service with Rogers, Fido or Shaw
1.5%
Earn 1.5% unlimited cash back on everything else
1.5x Cash Back
Get 1.5x more cash back every time you redeem for Rogers, Fido or Shaw purchases
Insurance Benefits
$1,000,000
Emergency medical insurance amount
$3
Emergency medical insurance over 65 days
$65,000
Rental car insurance amount
Our Take
The Rogers™ World Elite® Mastercard® is a no-annual-fee credit card offering elevated cash back rates on purchases made in U.S. dollars, with a standard rate on all other eligible purchases. Cardholders benefit from comprehensive insurance coverage, including emergency medical and rental car collision/damage protection, as well as access to over 1,300 airport lounges worldwide through Mastercard Travel Pass provided by DragonPass; however, the card has a high income requirement.
Eligibility
Excellent (740+)
Recommended Credit Score
$80,000
Required Annual Personal Income
$150,000
Required Annual Household Income
Pros
Cons
Annual Interest Rates
20.99%
Purchase
22.99%
Cash Advance
22.99%
Balance Transfer
Fees
$0
Annual Fee
$2.5
Foreign Transaction
3.00%
Balance Transfer
Rewards cash back
3%
Earn 3% unlimited cash back on purchases made in US dollars
2%
Earn 2% unlimited cash back on all eligible non-US dollar purchases if you have 1 qualifying service with Rogers, Fido or Shaw
1.5%
Earn 1.5% unlimited cash back on everything else
1.5x Cash Back
Get 1.5x more cash back every time you redeem for Rogers, Fido or Shaw purchases
Insurance Benefits
$1,000,000
Emergency medical insurance amount
$3
Emergency medical insurance over 65 days
$65,000
Rental car insurance amount
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
-
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
Best Costco credit card for gas purchases
$246
First Year Value
$0
Annual Value
Get this card if you...
Annual Fee & Annual Interest Rates
$0
Annual Fee
20.75%
Purchase
22.49%
Cash Advance
22.49%
Balance Transfer
-
Our Take
CIBC Costco Mastercard® ReviewThe CIBC Costco Mastercard® is a no-annual-fee credit card tailored for Costco members, offering cash back on various purchase categories, including elevated rates for dining and gas purchases at Costco gas stations. Cardholders benefit from features such as mobile device insurance and the convenience of combining their credit card with their Costco membership card to maximize their cash back.
Eligibility
Good (620 - 670)
Recommended Credit Score
$15,000
Required Annual Personal Income
-
Pros
Cons
-
-
Annual Interest Rates
20.75%
Purchase
22.49%
Cash Advance
22.49%
Balance Transfer
25.99%
Penalty
Fees
$0
Annual Fee
$2.5
Foreign Transaction
5.00%
Balance Transfer
$5
Cash Advance
$29
Over The Limit Penalty
$42.5
Return Penalty
-
Rewards cash back
3%
cash back at restaurants and at Costco gas
2%
cash back at other eligible gas stations, electric vehicle charging stations and at Costco.ca
1%
cash back on all other purchases including at Costco
Insurance Benefits
$1,000
Mobile device insurance amount
Our Take
The CIBC Costco Mastercard® is a no-annual-fee credit card tailored for Costco members, offering cash back on various purchase categories, including elevated rates for dining and gas purchases at Costco gas stations. Cardholders benefit from features such as mobile device insurance and the convenience of combining their credit card with their Costco membership card to maximize their cash back.
Eligibility
Good (620 - 670)
Recommended Credit Score
$15,000
Required Annual Personal Income
Pros
Cons
Annual Interest Rates
20.75%
Purchase
22.49%
Cash Advance
22.49%
Balance Transfer
25.99%
Penalty
Fees
$0
Annual Fee
$2.5
Foreign Transaction
5.00%
Balance Transfer
$5
Cash Advance
$29
Over The Limit Penalty
$42.5
Return Penalty
Rewards cash back
3%
cash back at restaurants and at Costco gas
2%
cash back at other eligible gas stations, electric vehicle charging stations and at Costco.ca
1%
cash back on all other purchases including at Costco
Insurance Benefits
$1,000
Mobile device insurance amount
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
-
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
-
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 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
Get this card if you...
Annual Fee & Annual Interest Rates
$120
Annual Fee
21.99%
Purchase
23.99%
Cash Advance
23.99%
Balance Transfer
-
Our Take
BMO AIR MILES®† World Elite®* MasterCard®* ReviewThe BMO AIR MILES®† World Elite®* Mastercard®* is a premium travel rewards credit card designed for frequent travelers, offering accelerated AIR MILES earn rates on purchases at participating AIR MILES Partners and eligible grocery stores. Cardholders benefit from perks such as a discount on one worldwide AIR MILES flight redemption annually, complimentary membership in Mastercard Travel Pass provided by DragonPass, and a comprehensive insurance package covering travel and medical emergencies.
Eligibility
Excellent (740+)
Recommended Credit Score
$80,000
Required Annual Personal Income
$150,000
Required Annual Household Income
-
Pros
Cons
-
-
Annual Interest Rates
21.99%
Purchase
23.99%
Cash Advance
23.99%
Balance Transfer
Fees
$120
Annual Fee
-
Rewards AIR MILES
3x
Cardholders earn an accelerated 3x the Miles per $12 spent at participating AIR MILES partners*
2x
the Miles for every $12 spent at any eligible grocery store*
1x
Earn 1 Mile for every $12 in credit card purchases, everywhere you spend*
25%
Get a 25% discount on one worldwide AIR MILES flight redemption during the calendar year*
Insurance Benefits
$5,000,000
Emergency medical insurance amount
$0
Emergency medical insurance over 65 days
$500,000
Travel accident insurance amount
$1,000
Hotel burglary insurance
$65,000
Rental car insurance amount
-
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
when you spend $3,000 in the first 3 months
Our Take
The BMO AIR MILES®† World Elite®* Mastercard®* is a premium travel rewards credit card designed for frequent travelers, offering accelerated AIR MILES earn rates on purchases at participating AIR MILES Partners and eligible grocery stores. Cardholders benefit from perks such as a discount on one worldwide AIR MILES flight redemption annually, complimentary membership in Mastercard Travel Pass provided by DragonPass, and a comprehensive insurance package covering travel and medical emergencies.
Eligibility
Excellent (740+)
Recommended Credit Score
$80,000
Required Annual Personal Income
$150,000
Required Annual Household Income
Pros
Cons
Annual Interest Rates
21.99%
Purchase
23.99%
Cash Advance
23.99%
Balance Transfer
Fees
$120
Annual Fee
Rewards AIR MILES
3x
Cardholders earn an accelerated 3x the Miles per $12 spent at participating AIR MILES partners*
2x
the Miles for every $12 spent at any eligible grocery store*
1x
Earn 1 Mile for every $12 in credit card purchases, everywhere you spend*
25%
Get a 25% discount on one worldwide AIR MILES flight redemption during the calendar year*
Insurance Benefits
$5,000,000
Emergency medical insurance amount
$0
Emergency medical insurance over 65 days
$500,000
Travel accident insurance amount
$1,000
Hotel burglary insurance
$65,000
Rental car insurance amount
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
when you spend $3,000 in the first 3 months
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
-
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
-
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 mention: cash back
$256
First Year Value
$0
Annual Value
Get this card if you...
Annual Fee & Annual Interest Rates
$99
Annual Fee
20.99%
Purchase
22.99%
Cash Advance
22.99%
Balance Transfer
-
Our Take
RBC Cash Back Preferred World Elite Mastercard ReviewThe RBC Cash Back Preferred World Elite Mastercard® offers a straightforward cash back program, providing a consistent earn rate on all purchases up to a specified annual spending limit, after which a lower rate applies. Cardholders benefit from perks such as savings on fuel at Petro-Canada, complimentary access to Boingo Wi-Fi, and auto rental collision/loss damage insurance; however, the card has a high minimum income requirement and lacks medical or travel insurance coverage.
Eligibility
Good (620 - 670)
Recommended Credit Score
$80,000
Required Annual Personal Income
$150,000
Required Annual Household Income
-
Pros
Cons
-
-
Annual Interest Rates
20.99%
Purchase
22.99%
Cash Advance
22.99%
Balance Transfer
Fees
$99
Annual Fee
$2.5
Foreign Transaction
3.50%
Balance Transfer
$5
Cash Advance
$45
Return Penalty
-
Rewards cash back
1.5%
Earn up to 1.5% cash back on your spending without limit.
$0.03
Link your card and instantly save 3¢/L on fuel and get 20% more Petro-Points
50
Get 50 Be Well points for every $1 spent on eligible products at Rexall
$0 Delivery Fees
Get $0 delivery fees for 12 months from DoorDash when you add your eligible RBC credit card to your DoorDash account
Insurance Benefits
$65,000
Rental car insurance amount
Our Take
The RBC Cash Back Preferred World Elite Mastercard® offers a straightforward cash back program, providing a consistent earn rate on all purchases up to a specified annual spending limit, after which a lower rate applies. Cardholders benefit from perks such as savings on fuel at Petro-Canada, complimentary access to Boingo Wi-Fi, and auto rental collision/loss damage insurance; however, the card has a high minimum income requirement and lacks medical or travel insurance coverage.
Eligibility
Good (620 - 670)
Recommended Credit Score
$80,000
Required Annual Personal Income
$150,000
Required Annual Household Income
Pros
Cons
Annual Interest Rates
20.99%
Purchase
22.99%
Cash Advance
22.99%
Balance Transfer
Fees
$99
Annual Fee
$2.5
Foreign Transaction
3.50%
Balance Transfer
$5
Cash Advance
$45
Return Penalty
Rewards cash back
1.5%
Earn up to 1.5% cash back on your spending without limit.
$0.03
Link your card and instantly save 3¢/L on fuel and get 20% more Petro-Points
50
Get 50 Be Well points for every $1 spent on eligible products at Rexall
$0 Delivery Fees
Get $0 delivery fees for 12 months from DoorDash when you add your eligible RBC credit card to your DoorDash account
Insurance Benefits
$65,000
Rental car insurance amount
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
-
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
-
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 conditionsDisclaimer: 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.
Honourable mention: no annual fee
10 pts per $1
Welcome Bonus
$316
First Year Value
$286
Annual Value
Get this card if you...
Annual Fee & Annual Interest Rates
$0
Annual Fee
21.99%
Purchase
22.97%
Cash Advance
22.97%
Balance Transfer
-
Our Take
PC® Mastercard® ReviewThe PC® Mastercard® is a no-annual-fee credit card that allows cardholders to earn PC Optimum points on everyday purchases, with accelerated rates at Loblaw-affiliated stores, Shoppers Drug Mart, Esso, and Mobil gas stations. These points can be redeemed for groceries and merchandise at over 2,500 participating locations across Canada.
Eligibility
Good (620 - 670)
Recommended Credit Score
$15,000
Required Annual Personal Income
-
Pros
Cons
-
-
Annual Interest Rates
21.99%
Purchase
22.97%
Cash Advance
22.97%
Balance Transfer
Fees
$0
Annual Fee
-
Rewards PC points
10 points
Earn 10 points per $1 spent everywhere
2 cents
Earn 2c per litre in PC Optimum points at Esso and Mobil
30 points
Earn 30 points per $1 when purchasing travel through President’s Choice
25 points
Earn 25 points per $1 at Shoppers Drug Mart and Pharmaprix
Our Take
The PC® Mastercard® is a no-annual-fee credit card that allows cardholders to earn PC Optimum points on everyday purchases, with accelerated rates at Loblaw-affiliated stores, Shoppers Drug Mart, Esso, and Mobil gas stations. These points can be redeemed for groceries and merchandise at over 2,500 participating locations across Canada.
Eligibility
Good (620 - 670)
Recommended Credit Score
$15,000
Required Annual Personal Income
Pros
Cons
Annual Interest Rates
21.99%
Purchase
22.97%
Cash Advance
22.97%
Balance Transfer
Fees
$0
Annual Fee
Rewards PC points
10 points
Earn 10 points per $1 spent everywhere
2 cents
Earn 2c per litre in PC Optimum points at Esso and Mobil
30 points
Earn 30 points per $1 when purchasing travel through President’s Choice
25 points
Earn 25 points per $1 at Shoppers Drug Mart and Pharmaprix
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
-
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
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
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.
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
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.
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.
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
🍁 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:
There are two distinct certification categories that help you identify Canadian goods:
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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
"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 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 |
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.
Costco Mastercard FAQs

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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