Costco warehouses and Mastercard credit cards
In the first few months, the Capital One Mastercard for Costco members was promoted in the warehouses.
Actually, it continues to be so with welcome bonuses ranging from a grocery bag to $10 off your purchases, so not much to say!
However, this Capital One card only offers between 0.5% and 3% depending on the type of purchase.
Yes, 0.5%: that’s the maximum you’ll get instead of 1% until you reach $3,000 in Card purchases. And the counter starts again at zero every year! This is a sort of disguised annual fee of $15 ($3,000 x 0.5%).
Add to this the near impossibility of getting a higher credit limit than the one assigned at the time of the application. You get a poor value card in the end, especially if you buy a lot of stuff at Costco in a year!
Finally, Costco has decided to end its partnership with Capital One in 2021.
Fortunately, there are many choices in Canada for Mastercard credit cards! Here are several dedicated to AIR MILES collectors!
The Best AIR MILES credit cards for Costco
The Best BMO AIR MILES credit card
Without a doubt, the best BMO AIR MILES credit card is the BMO® AIR MILES® World Elite®* Mastercard®*.
You can earn 1 AIR MILES Reward Mile for every $12 spent at Costco and all your other purchases. And 3 miles for every $12 spent at select AIR MILES partners (Sobeys, Jean Coutu, Shell, etc.).
Quite simply, it’s the AIR MILES credit card with the best earning rate in Canada.
This makes the BMO® AIR MILES® World Elite®* Mastercard®* particularly attractive for a number of reasons:
- First-year free
- 1 AIR MILES Reward Mile per $12 spent everywhere
- 3 miles per $12 spent at select AIR MILES Partners
- A great welcome bonus
- An exclusive 15% discount on many AIR MILES flight rewards
- Premium travel insurance
In short, it’s simply the best AIR MILES credit card for shopping at Costco.
BMO's best no-fee AIR MILES credit card
You can earn 1 AIR MILES Reward Mile for every $25 spent at Costco and all your other purchases. And 3 miles for every $25 spent at select AIR MILES partners (IGA, Jean Coutu, Shell, etc.).
Other BMO no-fee AIR MILES credit cards
In addition to the BMO® AIR MILES® Mastercard®* – and its great welcome bonus – there are 4 other NO CHARGE credit cards offered by BMO to collect AIR MILES miles!
These other credit cards earn 1 AIR MILES Reward Mile for every $25 spent at Costco and on all your other purchases. At some AIR MILES Sponsors (IGA, Jean Coutu, Shell, etc.), you can earn 3 AIR MILES Reward Miles for every $25 spent.
BMO AIR MILES Business Credit Cards
Finally, there are 2 BMO AIR MILES Business credit cards. Find out in this article how to apply for them.
Being a Costco member and collecting AIR MILES miles is not incompatible! All you need is the right credit card in your wallet!