Every year, thousands of snowbirds migrate to the warm climate of Florida to escape the rigours of the Canadian winter. During these winter months, one of the essential shopping stops is Costco.
Costco membership allows you to enter any Costco warehouse worldwide.
When using a Canadian credit card outside the country, a foreign currency conversion fee of 2.5% applies to all transactions.
For example, this means that a $100 purchase made in the U.S. and charged to a Canadian credit card will cost you $139.40 CAD :
A few rare Canadian credit cards allow you to avoid this sneaky conversion fee:
Only one Visa is in this list for our use at Costco: the Scotiabank Visa Infinite* Passport® card.
In Canada, all Mastercard cards are accepted in the warehouse, however, Visa cards can also be used. Here’s a tip: our guide to using a VISA credit card at Costco will show you how.
On the other side of the border, it’s different: only Visa cards and the Canadian CIBC Costco Mastercard are accepted at Costco warehouses in the U.S.
With this card, Scene+ points can be used to deduct from your Florida travel expenses! In fact, 1,000 Scene+ points means a $10 deduction on your Scotiabank Visa Infinite* Passport® card balance. This way, you can:
Do you have a Social Security Number (SSN), an Individual Taxpayer Identification Number (ITIN) or a U.S. address? If so, you may be eligible for an American credit card.
You could get the Chase Aeroplan® World Elite Mastercard. This way, your seasonal flights south of the border can be financed with your accumulated Aeroplan points!
In addition, it offers the holder:
Its only drawback: you can’t use it in Costco warehouses. However, this card can be a good combination with the Scotiabank Visa Infinite* Passport® all year round.
These tips are available to make life easier and less costly during the annual migration south.
Don’t forget to pay your credit card balance in full every month! Otherwise, the savings will be wiped out by interest charges.
Costco is a publicly traded company, which means it belongs to its shareholders. Costco’s founder is James Sinegal, who co-founded the company in 1983 with Jeffrey Brotman.
Costco is a U.S.-based multinational company operating in several countries around the world, including Canada.
Costco has over 10 million members in Canada.
Costco Wholesale warehouses are located in more than twenty cities across Quebec and are accessible to all Costco members. As for Costco for Business, it offers products in bulk quantities aimed primarily at convenience stores, caterers, restaurants and hotels.
Savings are here (if you don’t see the sign-up form, please click here):
