Current Offers to Get the Most Cash Back at Costco
In the points’ game, the most lucrative way to earn cash back and rewards are through sign-up bonuses. At the moment, these two cards are a must to get the most cash back at Costco:
Indeed, the TD Cash Back Visa Infinite* Card will give you 10% cash back on all purchases for the first 3 months (up to a total spend of $2,000). That includes buying Costco cash cards.
Similarly, the current offer for the CIBC Dividend® Visa Infinite* Card grants you another 10% cash back for the first 4 months (up to a total spend of $2,500).
By signing up to these two cards, you can get the most cash back at Costco which is 10% or $450.
Both cards also see their annual fees waived for the first year; so your net gain with this cash back at Costco strategy is $450.
For a couple or a family, both adults can do the same steps and earn up to $900 cash back at Costco with these cards.
Using a Visa card to get the most cash back at Costco
It might be surprising, but it is possible to use a Visa credit card to pay for your purchases at the warehouse and get the most cash back at Costco.
The trick here is to use your Visa credit card to buy a Costco cash card on their official website. You can either opt for a physical or an electronic gift card.
Getting the most cash back on everything else
Furthermore, these cards are also great for cash back at Costco and in your everyday spending! After the signup bonus is achieved, 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 gas stations with Journie Rewards.†
TD Cash Back Visa Infinite* Card
- 3% cash back on grocery stores, gas stations and recurring bill payments
- 1% cash back on all other purchases
All the main spending categories are covered with them and either cards allows you to redeem your cash back at any time.
The best strategy to get the most cash back at Costco
Earning the full $450 cash-back rewards translate to you having to fork out a total of $4,500 in the span of 4 months; while that amount is not huge for Costco, it may be significant for you.
The mindset to have is that you are purchasing gift cards in order to get the most cash back at Costco; it doesn’t mean you have to spend that much at the warehouse in that amount of time.
You can simply stock up on those gift cards and use them at your pace whether it takes months, a year or even 2 years to liquidate them.
Also, while we mentioned that both the TD Cash Back Visa Infinite* Card and CIBC Dividend® Visa Infinite* Card offers great cash back return on your everyday spending, it’s best if you use the 10% promotion first at Costco as that non-category merchant will fall to 1% after the signup bonus has been met.
With inflation and rising prices, it’s normal to turn to Costco where you can usually find great savings on groceries and home essentials.
But even there, the bill can be hefty so getting the best cash back at Costco is more than welcome!