Get up to $450 in cash back per person at Costco!
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Current offers to maximize cash back at Costco
In the world of points, the most lucrative way to earn cash back and rewards is through welcome bonuses. Right now, these two cards are a must for maximum cash back at Costco:
Indeed, the Scotia Momentum Visa Infinite +* Card will allow you to earn 10% cash back on all purchases during the first three months (up to $2,000 in spending). That’s up to $200 cash back.
Similarly, the current offer for the CIBC DividendMD Visa Infinite* Card gives you another 10% cash back for the first four months (up to a total of $2,500 in spending). That’s up to $250 cash back.
You can maximize the welcome bonus on these two credit cards by purchasing Costco cash cards.
With these two cards, you can earn the highest cash back at Costco: 10% or $450.
Both cashback credit cards also pay off their annual fee in the first year: your net gain with this cashback strategy at Costco is therefore $450.
For a couple or family, both adults can follow these same steps and earn up to $900 cash back at Costco with these cards.
If you don’t have the minimum income for these cards, you could also earn up to $250 cash back with the CIBC Dividend Platinum® Visa* Card.
| Credit card | Annual fee | Welcome offer | |
|---|---|---|---|
| $0 | |||
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Use a Visa card to earn maximum cash back at Costco
It may seem surprising, but you can use a Visa credit card to pay for your purchases at the warehouse and get the most cash back at Costco.
The trick is to use your Visa credit card to purchase a Costco cash card on their official website. You can opt for a physical or electronic gift card.
Get maximum cash back on everything else
What’s more, these cards are also ideal for earning cash back at Costco and on your day-to-day spending! Once you have reached the Welcome Bonus, you can continue to reap the following rewards:
CIBC Dividend® Visa Infinite* Card
- 4% cash back on eligible gas and grocery purchases.†
- 2% cash back on eligible transit, dining, and recurring bill payments†
- 1% cash back on all other purchases†
- Save up to 10 cents per litre† at participating Pioneer, Fas Gas, Ultramar and Chevron service stations with Journie Rewards.†
Scotia Momentum® VISA Infinite +* Card
- 4% cash back on groceries, recurring bill payments and subscriptions
- 2% discount on petrol and public transportation
- 1% cash back on all other purchases
All major spending categories are covered by these cards, and both allow you to get your cash back at any time.
| Credit card | Annual fee | Welcome offer | |
|---|---|---|---|
| $0 | |||
| $0 | |||
| $0 |
The best strategy for maximum cash back at Costco
If you get the full $450 cash back, you’ll have to shell out a total of $4,500 over the course of 4 months; while this isn’t a huge amount for Costco, it can be significant for you.
Keep in mind that you’re buying gift cards to get the most cash back at Costco; it doesn’t mean you have to spend that full amount at the warehouse during that time.
You can simply store these gift cards and use them at your own pace, whether it takes months, a year or even two years to redeem them.
Also, since we mentioned that both cards—the Scotia Momentum Visa Infinite +* Card and the CIBC Dividend® Visa Infinite* Card—offer high cash back on everyday spending, it is best to use the 10% offer at Costco first, as this qualified out-of-category merchant will drop to 1% once the welcome bonus has been earned.
Conclusion
With inflation and rising prices, it’s natural to turn to Costco, where you can usually find great savings on groceries and household essentials.
But even then, the bill can be steep, so getting the best cash back at Costco is more than welcome!
Check out the best Costco credit card offers!
| Credit card | Annual fee | Welcome offer | |
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| $0 | |||
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Frequently Asked Questions about earning up to $450 cash back at Costco
Here are frequently asked questions in the milesopedia community about this card.
How can I really earn up to $450 in cash back per person at Costco?
The trick is stacking the boosted welcome offers on the Scotia Momentum® Visa Infinite* and the CIBC Dividend® Visa Infinite*. The Scotia Momentum offer pays 10% cash back on all purchases for the first 3 months on up to $2,000 in spending ($200 max), and the CIBC Dividend offer pays 10% for 4 months on up to $2,500 in spending ($250 max). Combined, that is $450 per person in elevated cash back — double it if you and a partner each apply.
Costco Canada only takes Mastercard at the checkout. How do these Visa cards still work?
That is the key workaround that milesopedia readers ask about most often. Costco warehouses in Canada accept Mastercard exclusively, but Costco.ca accepts Visa as well. The strategy is simple: log in to costco.ca and buy Costco Shop Cards with your Scotia Momentum® Visa Infinite* or CIBC Dividend® Visa Infinite* during the welcome window. The Shop Cards count as regular purchases for the 10% bonus, and you can then use the cards in-store at your own pace.
Which everyday earn rates do these cards offer outside the welcome bonus?
After the boosted period, the Scotia Momentum® Visa Infinite* earns 4% on groceries, recurring bills and subscriptions, 2% on gas and transit, and 1% elsewhere. The CIBC Dividend® Visa Infinite* earns 4% on gas and groceries, 2% on transit, dining and recurring bills, and 1% elsewhere. Both cards drop to 1% at Costco itself, which is why the welcome bonus stack is the primary value driver of this strategy.
Is there an income requirement to qualify for these Visa Infinite cards?
Yes. Both the Scotia Momentum® Visa Infinite* and the CIBC Dividend® Visa Infinite* require a minimum personal income of $60,000 or household income of $100,000, which is the standard threshold for Visa Infinite products in Canada. If you do not qualify, the CIBC Dividend Platinum® Visa* is a lower-income alternative that still offers a sizable welcome bonus of up to $250 cash back with similar grocery and gas categories.
