BMO® CashBack World Elite Mastercard®
4.5·Big grocery spenders who want the highest cash back rate
- Annual fee
- $120/yr
- Welcome bonus
- ~$260
- Top reward
- 5% groceries
- Highest headline grocery cash-back rate in Canada
- Strong transit and gas categories
cash backno fee
CIBC® Costco® Mastercard® review
4.0Rated by the CreditCardGuru Editorial Team
A no-brainer companion card for Costco members thanks to 3% restaurant and Costco-gas rates, though the annual lump-sum redemption and 1% warehouse rate temper its appeal.
At a glance
- Annual fee
- No annual fee
- Foreign tx fee
- 2.5%
- Network
- MASTERCARD
- Rewards
- cash back
- Purchase APR
- 21.75%
Rewards & earn rates
| Restaurants | 3% |
| Costco gas | 3% |
| Other gas stations & EV charging | 2% |
| Costco.ca online purchases | 2% |
| Everything else, including in-warehouse Costco purchases | 1% |
Pros & cons
Pros
- Strong 3% on restaurants and Costco gas with no fee
- Mobile device insurance is rare on no-fee cards
Cons
- Only 1% on in-warehouse Costco purchases
- Cash back paid just once a year as a gift certificate
Perks & insurance
Key perks
- No annual fee with no limit on total cash back
- Special Pace It installment rates on Costco purchases (5.99% for 6 months, 6.99% for 12, 7.99% for 24) with no installment fees
- Annual cash back gift certificate redeemable at Costco warehouses
- Doubles as your Costco membership card
- Up to 3 additional cards at no cost
Insurance
- Mobile device insurance
- Purchase security and extended warranty
Rates & fees
- Annual fee
- None
- Purchase interest
- 21.75%
- Cash advance
- 22.49%
- Foreign transactions
- 2.5%
- Min. personal income
- $15,000
Requires an active Costco membership.
Last updated June 7, 2026Reviewed by CreditCardGuru Editorial Team
Similar cards to consider
CIBC® Dividend® Visa® Infinite Card
4.5·Households with heavy grocery and gas spend who want maximum cash back.
- Annual fee
- $120/yr
- Welcome bonus
- ~$350
- Top reward
- 4% groceries
- 4% on gas and groceries is among the highest in Canada
- Strong 2% middle tier covers dining, transit and bills
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Written by
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CreditCardGuru Editorial Team
Rewards & Cards Research
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Cite this page
“CIBC® Costco® Mastercard® Review (2026)” — CreditCardGuru, https://creditcardguru.ca/cards/cibc-costco-mastercard, updated June 7, 2026.