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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

Restaurants3%
Costco gas3%
Other gas stations & EV charging2%
Costco.ca online purchases2%
Everything else, including in-warehouse Costco purchases1%

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

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4.5·Households with heavy grocery and gas spend who want maximum cash back.
Annual fee
$120/yr
Welcome bonus
~$350
Top reward
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