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CIBC Costco® Mastercard® review: earn cash back on all purchases

If you're looking for a great credit card with gas station perks, read our CIBC Costco® Mastercard® review to learn more about it!

CIBC Costco® Mastercard®: get perks if you’re a Costco Member!

Read this CIBC Costco® Mastercard® review to understand how it works. Source: The Mister Finance.
Read this CIBC Costco® Mastercard® review to understand how it works. Source: The Mister Finance.

Did you know that some CIBC cards give cash back on all purchases? Read our CIBC Costco® Mastercard® review to learn more about this card. Plus, you should know that there are no annual fees involved!

CIBC Costco® Mastercard®

How to apply for the CIBC Costco® Mastercard® card

If you're looking for a credit card that offers cash back for all purchases and more, read our post about the CIBC Costco® Mastercard® application!

Credit ScoreN/A.
APR*19.75% variable for purchases;
21.49% variable for cash.
*Terms apply
Annual FeeNo annual fee.
FeesUp to 3 additional cardholders with no fee.
Welcome bonusN/A.
Rewards*3% cash back at restaurants and Costco gas stations;
2% cash back at any other gas station + Costco in Canada;
1% cash back on any other purchase you make with the card (which includes Costco).
*Terms apply.

And if you’re a Canadian looking for a credit card that can give you cash back on purchases related to Costco and other eligible purchases, you’ll love this card.

You can find a reasonable interest rate, and there is no annual fee to enjoy all the benefits this card offers! So, read on to learn more about this card!

How does the CIBC Costco® Mastercard® work?

The first information you need to know about the CIBC Costco® Mastercard® is that you need to have a Costco membership to start the application. So, if you want to get all the benefits, you’ll need it.

You can easily enroll in a Costco membership through Costco’s official website.

If you already have a Costco membership, you’ll be able to apply for this card and earn up to 3% cash back at restaurants and at Costco gas stations.

Also, you’ll be able to earn 2% cash back at any other gas station you like. Moreover, this card also offers 1% cash back on all other purchases you make with the card.

CIBC Costco® Mastercard® benefits

Earn a lot of cashback with your shopping cart full of groceries. Source: Adobe Stock.
Earn a lot of cashback with your shopping cart full of groceries. Source: Adobe Stock.

As we mentioned, the CIBC Costco® Mastercard® offers incredible perks to its cardholders. One of the best perks is that you can earn 1% cash back on all purchases with your card.

Moreover, the other rewards rates are also worth it. Plus, you can get all these perks for no annual fee. However, there are also some downsides to this card. So, read our list below to see the pros and cons!

Pros

  • Earn up to 3% cash back on eligible purchases at restaurants and Costco gas stations;
  • You can get 1% cash back on all other purchases with the card;

Cons

  • There is no information about a welcome bonus for new cardholders;
  • You need to be an exclusive Costco member to apply for the card;
  • There is a minimum annual income of $15,000 to qualify for the card.

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How good does your credit score need to be?

The official CIBC website does not disclose if you need a high score to qualify. The most important thing you need is to have a Costco membership.

How to apply for the CIBC Costco® Mastercard®?

You can easily apply for the CIBC Costco® Mastercard®. All you need is to go to the official CIBC website and find the card you need. Also, you need to be a Costco member to qualify!

To understand exactly how this application process works, you can check the following content.

CIBC Costco® Mastercard®

How to apply for the CIBC Costco® Mastercard® card

If you're looking for a credit card that offers cash back for all purchases and more, read our post about the CIBC Costco® Mastercard® application!

About the author  /  Victória Lourenço

Victória Lourenço is part of the finance writer team for The Mister Finance website. She is a translator and copywriter, having worked on finance topics for over four years. She has a goal to keep studying finances to help people learn more about how to use their credit cards, make loans, and use other money-related products in a way that they can find a more meaningful and healthy financial life!

Reviewed by  /  Aline Barbosa

Senior Editor

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