How does the Costco credit card work?

The Costco credit card, the CIBC Costco Mastercard, is a co-branded card offered in partnership with CIBC. It serves as both a means of payment and a Costco membership card. Users receive discounts or points on their purchases, sometimes with higher rates for Costco purchases or specific categories. The card may also include additional benefits such as insurance and protection. Like all credit cards, it requires monthly payments, and interest may accrue in the event of non-payment.

How do I get a Costco credit card?

To obtain a Costco credit card, the CIBC Costco Mastercard, you must be a Costco member first. Once a member, visit the Costco website or your local warehouse to access credit card information. You'll need to fill out an application, often online, where your financial and personal information will be requested. After submission, CIBC, our financial institution partner, will perform a credit check. If you are approved, your card will be mailed to you. Be sure to read the terms and conditions before applying.

Can I get a Costco credit card in a Costco store?

Yes, you can apply directly for the CIBC Costco Mastercard at any Costco warehouse.

Does Costco accept Visa cards?

No, Costco Canada does not accept Visa credit cards (unlike in the U.S.). Only Mastercard credit cards are accepted at Costco Canada. However, you can use a Visa credit card on Costco Canada's online site: costco.ca.

Which Costco credit card?

Only Mastercard credit cards are accepted at Costco Canada. On this page, you'll find the best credit cards for Costco in Canada.

How do I pay at Costco?

Only Mastercard credit cards are accepted at Costco Canada. On this page, you'll find the best credit cards for Costco in Canada. You can also pay by debit card or cash.

Can I use debit cards to pay at Costco?

Yes, you can use a debit card to pay at Costco. However, we recommend that you earn rewards with one of the best credit cards for Costco in Canada.

How do I use a Costco gift voucher?

Costco gift certificates, often called "Cash Cards" or "Gift Certificates" depending on the region, are pre-loaded cards that you can use to purchase at Costco warehouses, on the Costco website, or buy gas at Costco gas stations. Here's how to use them: At the Costco warehouse: Simply present your gift card at checkout. The amount of your purchase will be deducted from your card balance. If the amount of your purchase exceeds the balance on your card, you will be required to pay the difference using another accepted method of payment. On the Costco website: When finalizing your order, choose the option to pay with a gift card or enter the gift card details when prompted. As in the warehouse, if the purchase exceeds the balance on the gift card, you'll need to provide another form of payment to cover the difference. Costco service stations : Insert your gift card into the pump's reader, just as you would with a credit or debit card. Follow the on-screen instructions. Notes: Costco gift certificates can often be used by non-members, making them a great way to try Costco without a membership. However, conditions may vary by region. Keep your gift card after a purchase until you are sure you don't need to return any items. Refunds for purchases made with gift certificates will generally be issued on the same gift card. Finally, to check the balance of your Costco gift card or if you encounter any problems, contact Costco customer service or check the balance online, if this option is available in your area.

What are the three best World Elite Mastercard credit cards for Costco?

Here are the top 3 World Elite Mastercard credit cards for Costco: National Bank World Elite Mastercard MBNA Rewards World Elite® Mastercard® BMO Ascend World Elite Mastercard

Which credit cards are accepted at Costco?

In Canada, only Mastercard credit cards are accepted at Costco warehouses. On the Costco.ca website, however, you can pay with a Mastercard or Visa credit card.

How to buy at Costco without being a member?

In general, to buy at Costco, you need to be a Costco member. However, there are some exceptions to this rule in certain countries. Here are some of the options for buying at Costco without being a member: Buy online: In some countries, such as Canada, it is possible to buy on the Costco website without being a member. However, certain restrictions may apply, such as additional fees for non-members. Buy with a gift card: If you have a Costco gift card, you can use it to shop at Costco without being a member. However, it is essential to note that gift cards have a limited value and you will not be able to purchase items that exceed the value of the gift card.

How much does a Costco card cost?

The cost of a Costco card depends on the type of card you choose. Basic membership cards are available for an annual fee, while premium membership cards may cost more. Here are typical costs for basic membership cards in different countries: In the United States: the basic Costco annual membership card costs $60 USD. In Canada: the basic Costco annual membership card costs $60 CAD. Executive membership costs $120. In France: the basic annual Costco membership card costs €36. In the UK: the basic annual Costco membership card costs £33.60. Please note that costs may vary depending on the region and the type of membership card you choose. Additional fees may also apply for premium membership cards. Before purchasing a Costco card, we recommend that you check the specific costs and benefits for your region.

How do I pay for a CIBC Costco Card?

To pay for your CIBC Costco Card, you can use one of the following methods of payment: Online Payment: Log in to your CIBC Costco Credit Card online account and select the "Make a Payment" option. You can then enter the amount you wish to pay and choose your bank account to make the payment. Automatic Payment: You can set up an automatic payment for your CIBC Costco Credit Card by selecting the "Automatic Payment" option in your online account. You can then select a monthly payment amount or your total credit card balance to be automatically withdrawn from your bank account each month. Pay by Phone: You can make a payment by phone by calling your CIBC Costco Credit Card customer service number and following the instructions for making a payment by phone. Paying in person: You can make a payment in person at any CIBC branch

How do I pay for a CIBC Costco Card?

To pay for your CIBC Costco Card, you can use one of the following methods of payment: Online Payment: Log in to your CIBC Costco Credit Card online account and select the "Make a Payment" option. You can then enter the amount you wish to pay and choose your bank account to make the payment. Automatic Payment: You can set up an automatic payment for your CIBC Costco Credit Card by selecting the "Automatic Payment" option in your online account. You can then select a monthly payment amount or your total credit card balance to be automatically withdrawn from your bank account each month. Pay by Phone: You can make a payment by phone by calling your CIBC Costco Credit Card customer service number and following the instructions for making a payment by phone. Paying in person: You can make a payment in person at any CIBC branch

What is the best prepaid card for Costco?

The best prepaid card for Costco is the KOHO Extra Mastercard. With this prepaid card, you can earn 2% cash back on your Costco purchases. Find out more about the KOHO Mastercard prepaid card.

Comparison of the Best Costco Credit Cards | July 2024

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 best MASTERCARD credit cards for Costco Mastercard cash back Mastercard Travel-Points AIR MILES Mastercard

The best VISA credit cards for Costco Visa Aeroplan Visa Travel-Points Visa cash back

Bottom Line

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!

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

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

There are many MASTERCARD credit cards out there you can use at Costco.

Choose the best one based on your goal:

Cash back
Travel points
AIR MILES
Hotel points

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:

Rogers Red Mastercard: 3% cash back per dollar spent at Costco (if you’re a Rogers, Fido or Shaw customer)
KOHO Premium Mastercard Prepaid Card: 2% per dollar on Costco purchases
RBC Cash Back Preferred World Elite Mastercard: 1.5% cash back per dollar spent at Costco
BMO^® CashBack^® World Elite^®* Mastercard^®*: 1% cashback per dollar spent at Costco.
MBNA Smart Cash World^® Mastercard^®: 1% per dollar on Costco purchases
MBNA Rewards Platinum Plus^® Mastercard^®: 1 point per dollar on Costco purchases
Desjardins Cash Back World Elite Mastercard: 1% per dollar on Costco purchases
MBNA Rewards World Elite^® Mastercard^®: 1 point per dollar spent at Costco.

And the CIBC Costco Mastercard?

As you’ve seen below, there are more attractive cash back 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

The National Bank World Elite Mastercard® is NBC’s best Mastercard credit card.

Until August 15, 2024, receive up to 40,000 reward points in your first year with our welcome offer, broken down as follows:

5,000 points after enrolling in payment insurance for at least the first 3 months of card membership
5,000 points after $5,000 in purchases in the first 3 months of card membership
10,000 points after $10,000 in cumulative purchases in the first 6 months
20,000 points after $15,000 in cumulative purchases in the first 12 months

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

Other credit cards

Here are several other Travel MASTERCARD credit cards:

Desjardins Odyssey World Elite Mastercard: 1.5% per dollar on Costco purchases
National Bank World Mastercard^®: 1.25% per dollar spent at Costco
MBNA Rewards World Elite^® Mastercard^®: 1 point per dollar spent at Costco.

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:

MBNA Rewards Platinum Plus^® Mastercard^®: 1 point per dollar on Costco purchases
National Bank Platinum Mastercard^®: 1 point for every $1.5 spent at Costco

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 card purchases, that’s a $315 cash value.

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.

And it’s the only AIR MILES credit card in Canada to offer a 25% discount on one worldwide AIR MILES flight redemption during the calendar year

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

Premium insurance for your travels or purchases
Double the 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!

Choose the best credit card based on your goal:

Aeroplan
Travel points
Cash back

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 purchases at Costco.

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:

TD^® Aeroplan^® Visa Infinite Privilege* Credit Card: 1.25 Aeroplan points per dollar spent at Costco.ca.
CIBC Aeroplan^® Visa Infinite* Card: 1 Aeroplan point per dollar spent at Costco.ca
TD^® Aeroplan^® Visa Platinum* Card: 1 Aeroplan point per $1.5 on Costco.ca purchases

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* 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 complimentary accesses to VIP 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:

TD First Class Travel^® Visa Infinite* Card: 1.5% per dollar of purchases at Costco.ca
CIBC Aventura^® Visa Infinite* Card: 1 point per dollar spent at Costco.ca
RBC Avion Visa Infinite Card: 1 point per dollar on Costco.ca purchases

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:

TD Cash Back Visa Infinite* Card: 1% per dollar on Costco.ca purchases
Scotia Momentum^® VISA Infinite* card: 1% per dollar spent at Costco.ca
CIBC Dividend Platinum^® Visa* Card: 1% per dollar on Costco.ca purchases

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.

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).

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