Get up to $500 cash back per person at Costco!

To the point Take advantage of these incredible promotional offers to earn up to $500 cash back at Costco per person and up to $1,000 per family!

Current offers to maximize cash back at Costco Use a Visa card to earn maximum cash back at Costco Get maximum cash back on everything else The best strategy for maximum cash back at Costco Bottom Line

You can find everything at Costco and for many of us, we are always looking at the best ways to get the best cash back at Costco.

In fact, a Costco bill can be quite high, whether it’s for your weekly groceries or for home supplies.

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:

The Scotia Momentum^® Visa Infinite* Card will earn you 10% cash back on all your purchases for the first three months (up to a maximum spend of $2,000). That’s up to $200 cash back.

Similarly, the current offer for the CIBC Dividend^® Visa Infinite* Card gives you another 10% cash back for the first four months (up to $3,000 in spending). That’s up to $300 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 $500.

These cash-back credit cards also have a first-year annual fee rebate: your net gain with this cashback strategy at Costco is, therefore, $500.

For a couple or family, both adults can follow these same steps and earn up to $1,000 cash back at Costco with these cards.

If you don’t have the minimum income for these cards, you could also earn up to $300 cash back with the CIBC Dividend Platinum^® Visa* Card .

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 transportation, dining purchases and recurring 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% 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.

TIP

As you can see, the categories for earning cash back are similar on both cards, but there are a few important differences to note. I would use the CIBC Dividend^® Visa Infinite* Card for everything except recurring bill payments, where The Scotia Momentum^® Visa Infinite* Card wins out.

The best strategy for maximum cash back at Costco

If you get the total $500 cash back, you’ll have to shell out a total of $5,000 over four months; while this isn’t a massive 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 for your everyday spending, it’s best to use the 10% offer at Costco first, as this qualified out-of-class merchant will drop to 1% once the welcome bonus is earned.