Selection of the Best Credit Cards for Costco Canada – December 2024

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Alexandrine Bertrand
Alexandrine Bertrand

Alexandrine Bertrand

Alexandrine Bertrand
A passionate solo traveler, Alexandrine is an expert on loyalty programs such as Aeroplan, Avios, AIR MILES, Flying Blue and Marriott Bonvoy. With a budget-conscious approach, she helps travelers maximize their points and miles for low-cost, off-the-beaten-path getaways. A food lover, she enjoys discovering the local flavors and culinary traditions that enrich her adventures.
All posts by Alexandrine Bertrand
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To the point Looking for the best credit card for Costco to replace your new CIBC Costco Mastercard credit card? Here are the best credit cards!

The easiest way to pay at Costco Canada… is with a Mastercard credit card .

But as you will see below, you could also use Visa cards with a back door method.

Note that no credit card considers Costco a grocery store!

costco mastercard

You don’t need to have a CIBC Costco Mastercard, contrary to what many Costco members believe.

Costco cibc

All Mastercard credit cards are accepted at Costco!

So here is the list of the best Mastercard and Visa card to maximize your returns at your favourite warehouse.

The best MASTERCARD credit cards for Costco

Costco credit card - Mastercard cash back

If you wish to get cash back, there are many MASTERCARD cash back credit cards for your Costco purchases!

Milesopedia's choice

The Rogers Red World Elite® Mastercard® is one of the best no-annual-fee cash-back credit cards in Canada.

With the Rogers Red World Elite Mastercard, you get 2% cash back on all purchases (including at Costco) if you are an eligible Rogers, Fido or Shaw customer.

Alternatively, earn 1.5% unlimited cash back on all eligible purchases in currencies other than U.S. dollars.

Receive 3% cash back on all purchases in U.S. dollars (this credit card is therefore particularly suitable for snowbirds) and 50% more cash back every time you redeem for Rogers, Fido or Shaw purchases.

What’s more, Rogers customers have 5 days’ free access to Roam Like Home roaming plan when they travel (a value of up to $75).

As the Rogers Red World Elite Mastercard is a World Elite Mastercard, you benefit from a complimentary Mastercard Travel Pass (offered by DragonPass) giving access to over 1,300 airport lounges worldwide (US$32 per person per visit).

Finally, you’re protected by a wide range of insurance coverages, such as :

  • Extended Warranty and Purchase Protection
  • Rental Car Collision/Damage
  • Out-of-Province/Out-of-Country Emergency Medical
  • Trip Interruption Insurance
  • Trip Cancellation Insurance

Other credit cards

Here are several other cash back MASTERCARD credit cards:

And CIBC Costco Mastercard?

As you’ve seen below, there are more attractive cashback credit cards than the CIBC Costco Mastercard.

As a reminder, this one offers gas pedals for restaurants, gasoline and Costco.ca (but there are annual limits to respect). Otherwise, you’ll earn 1% cash back on all other purchases, including those made at Costco.

Costco credit card - Mastercard Travel-Points

If you prefer travel points, there are many Travel Points MASTERCARD credit cards for your Costco purchases!

Milesopedia's choice

National Bank World Elite Mastercard is the best Mastercard credit card on NBC. With the current welcome offer exclusive to the Milesopedia Network, receive up to 35,000 bonus points, distributed as follows:

  • 10,000 points if you make at least $5,000 in purchases in the first 3 months
  • 10,000 points if you make at least $10,000 in purchases in the first 6 months
  • 15,000 points if you make at least $20,000 in purchases in the first 14 months

What’s more, you pay no annual fee for the first year.

With this card, you earn up to 5 points per dollar on your purchases:

  • 5 points per dollar on grocery and restaurant purchases
  • 2 points per dollar on gas and electric recharge purchases
  • 2 points per dollar on recurring bills
  • 2 points per dollar on À la carte Travel
  • 1 point per dollar on all other purchases

And since it’s a National Bank Mastercard credit card, you can use it at Costco.

With this card, you have access to a $150 annual travel credit that you can use in any of these categories:

  • Airport parking
  • Baggage fees
  • Seat selection
  • Access to airport lounges
  • Flight upgrades

In addition, you can enjoy access to DragonPass airport lounges and free Wi-Fi with Boingo. And unlimited access to the National Bank Lounge at Montreal-Trudeau.

Finally, in 2023 and 2024, Milesopedia voted National Bank World Elite Mastercard as the Best Credit Card for Travel and the Best Credit Card for Insurance.

Other credit cards

Here are several other Travel MASTERCARD credit cards:

If you don’t have the minimum income requirement for World Elite cards ($80,000 individual / $150,000 household), here are other MASTERCARD credit cards with travel rewards:

Costco credit card - AIR MILES Mastercard

If you’re an AIR MILES collector, you probably want to earn AIR MILES Bonus Miles for your Costco purchases!

With the BMO® AIR MILES® World Elite Mastercard®*, you’ll earn 2 miles for every $12 spent at Costco. That’s1.75% cash back when you use your AIR MILES Miles with the Cash option.

Milesopedia's choice

With this exclusive offer for the BMO AIR MILES® World Elite Mastercard®*, you earn 3,000 miles after $3,000 in purchases in the first three months. Plus, earn an additional 1,500 miles when you spend at least $700 at eligible wholesale clubs and alcohol retailers.

Besides, the annual fee is waived in the first year!

With this card, you earn 3 miles for every $12 spent at participating AIR MILES Partners. Then, earn 2 miles for every $12 in purchases at any eligible grocery store and wholesale club (warehouse like Costco) or alcohol retailer (SAQ, LCBO, etc.). Everywhere else, you’ll earn 1 AIR MILES mile for every $12 in purchases, including Walmart.

What’s more, it’s the only AIR MILES credit card in Canada to offer a 25% discount on AIR MILES flights to any destination during the calendar year.

The BMO® AIR MILES® World Elite®* Mastercard®* card also offers:

  • 7 ¢/L discount on Shell V-Power fuel and 2 ¢/L discount on all other Shell fuels
  • Excellent insurance for your travels and purchases
  • 2X miles for car rentals with National or Alamo

Other credit cards

Only BMO has AIR MILES MASTERCARD credit cards.

With these AIR MILES credit cards, you earn 2 miles for every $25 spent at Costco.

The best VISA credit cards for Costco

On Costco.ca, you can pay with a VISA credit card. And since you can buy Costco SHOP cards that you can use in warehouses, it’s a backdoor method to use any VISA credit card for Costco!

Costco Cash Cards

Costco Credit Card - Visa Aeroplan

If you’re a member of the Aeroplan program, you’ll want to be able to earn Aeroplan points on your Costco purchases!

Buy a Costco Shop Card with your Aeroplan credit card on costco.ca, to use it in your warehouse!

Milesopedia's choice

The TD® Aeroplan® Visa Infinite* Card is a great way to earn Aeroplan Points for all your Costco purchases.

With this credit card you earn:

  • 1 point for every dollar spent on Costco.ca
  • A great welcome bonus
  • Premium travel insurance

Other credit cards

There are several other credit cards that offer Aeroplan points that may be of interest:

Costco credit card - Visa Travel-Points

There are many Travel Points VISA credit cards for your Costco purchases!

Milesopedia's choice

The Scotiabank Passport Visa Infinite Card is a great way to earn travel points for all your Costco purchases.

With this credit card, you earn:

  • 1 point per dollar at Costco.ca
  • A great welcome bonus
  • 6 access to airport lounges
  • No conversion fee for foreign currency transactions
  • Premium travel insurance

Other credit cards

Several other travel points credit cards may be interesting for you:

Costco credit card - Visa cash back

If you prefer cash back, there are a few cash back VISA credit cards for your Costco purchases!

Milesopedia's choice

The CIBC Dividend® Visa Infinite* Card is a great way to earn cash back on all your purchases at Costco.

With this credit card, you earn:

  • 1% on Costco.ca
  • 4% on grocery and gas purchases
  • Premium insurance

Other credit cards

Three other cash back credit cards may be of interest:

Bottom Line

As you can see, you’re spoilt for choice when it comes to credit cards to use at Costco.

If we had to choose just one, we’d take the Rogers Red World Elite® Mastercard® for several reasons:

The Rogers Red World Elite® Mastercard® is one of the best no-annual-fee cash-back credit cards in Canada.

With the Rogers Red World Elite Mastercard, you get 2% cash back on all purchases (including at Costco) if you are an eligible Rogers, Fido or Shaw customer.

Alternatively, earn 1.5% unlimited cash back on all eligible purchases in currencies other than U.S. dollars.

Receive 3% cash back on all purchases in U.S. dollars (this credit card is therefore particularly suitable for snowbirds) and 50% more cash back every time you redeem for Rogers, Fido or Shaw purchases.

What’s more, Rogers customers have 5 days’ free access to Roam Like Home roaming plan when they travel (a value of up to $75).

As the Rogers Red World Elite Mastercard is a World Elite Mastercard, you benefit from a complimentary Mastercard Travel Pass (offered by DragonPass) giving access to over 1,300 airport lounges worldwide (US$32 per person per visit).

Finally, you’re protected by a wide range of insurance coverages, such as :

  • Extended Warranty and Purchase Protection
  • Rental Car Collision/Damage
  • Out-of-Province/Out-of-Country Emergency Medical
  • Trip Interruption Insurance
  • Trip Cancellation Insurance
Come to discuss that topic in our Facebook Group!
Marie-Ève Leclerc

Marie-Ève Leclerc

Marie-Ève Leclerc
Marie-Ève, Web Director at Milesopedia, is an expert in budget travel and a slow travel enthusiast. Specializing in Aeroplan, Scene+, and Marriott Bonvoy programs, she spends nearly six months a year abroad, making travel her way of life. Constantly seeking the best waves to surf, excellent coffee, and strategies to extend her travels, she is often found in coworking spaces with fellow digital nomads or by the sea, watching the sunset.
All posts by Marie-Ève Leclerc

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