What credit cards does Costco Canada accept?
Updated: April 01, 2024
Costco is a popular destination for budget and quality-conscious Canadian shoppers. The warehouse-style retailer offers variety, convenience, and low prices in its bulk-sized shopping experience, and its successful retail model has resulted in several new Canadian stores being opened in the past few years.
A Costco membership costs $60 per year for those who want a basic plan for themselves and their spouse, but shopping with a smart, Costco-compatible credit card can easily make up for that membership fee via cash back and/or rewards.
What credit cards does Costco accept in Canada?
Costco had a 15-year, exclusive relationship with American Express until 2014, offering co-branded Amex cards for Costco shoppers to use as both their proof of membership and their payment method. But a rift developed between the two companies and they ultimately parted ways, with Mastercard taking over as Costco’s new credit card processor in 2015.
Mastercard’s ongoing credit card partnership with Costco’s Canadian warehouses is exclusive; Amex and Visa credit cards are unfortunately not accepted as a means of payment at Costco warehouse registers. Costco.ca still accepts Visa credit cards, but for the purposes of this article we’ll be picking Mastercards only, as they’re universally accepted at every Costco point of sale in Canada—warehouses, online, and at gas stations.
Best Costco Mastercards for Canadians in 2023
| Card Name | Rewards | Get Started |
|---|---|---|
| Rogers™ World Elite® Mastercard® |
Best no-fee card with rewards
◦$0 annual fee (To maintain eligibility, you must spend at least $15,000/year.) ◦3% unlimited cash back on purchases made in U.S. dollars ◦1.5% unlimited cash back on everything else |
Apply Now |
| BMO Ascend™ World Elite®* Mastercard®* |
Best for international travelers
◦$150 annual fee ◦5x the points on eligible travel ◦3x the points on eligible dining, entertainment, and recurring bill payments ◦1x point for all other eligible purchases |
Apply Now |
| CIBC Costco Mastercard |
Best for Costco gas & dining
◦$0 Annual Fee (Up to 3 additional cardholders for $0) ◦3% cash back at restaurants and Costco gas ◦2% back at other gas stations and at Costco.ca ◦1% cash back on all other purchases (including at Costco) |
Apply Now |
| PC® Mastercard® |
Best for PC Optimum points
◦30 points per $1 spent when purchasing travel through President’s Choice ◦25 points per $1 spent at Shoppers Drug Mart and Pharmaprix ◦10 points everywhere else ◦Earn 2c per litre in PC Optimum points at Esso and Mobil |
Apply Now |
| RBC Cash Back Preferred World Elite Mastercard |
Best for Everyday Purchases
◦$99 annual fee ◦1.5% unlimited cash back on all purchases ◦Get 50 Be Well points for every $1 spent on eligible products at Rexall ◦save 3¢/L on fuel and get 20% more Petro-Points |
Apply Now |
| BMO CashBack® World Elite®* Mastercard®* |
Best for grocery rewards
◦$120 annual fee ◦5% cash back on groceries* ◦4% cash back on transit* ◦3% cash back on gas* ◦ Spend caps apply to cash back rates* |
Apply Now |
| Rogers Fido™ Mastercard® |
Best for Fido customers
◦No annual fee ◦1.5% cash back rewards on all online and in-store Fido purchases ◦1% cash back rewards rate on all other purchases |
Apply Now |
| RBC Cash Back Mastercard |
Best for simple cash back
◦No annual fee ◦2% unlimited cash back on groceries ◦1% unlimited cash back on everything else ◦Save 3₵ per litre at Petro-Canada |
Apply Now |
Expert tip: Get a Costco branded Mastercard with a high earn rate
Costco-accepted credit cards are limited to Mastercard options if you want to shop in-store, but make sure to read the fine print on rewards because despite being the credit card brand of choice, Costco purchases may be excluded from high earn-rate categories. Costco is one of the most popular grocery stores that Canadians shop for. However, many Canadians are often surprised to know that their credit cards don’t work quite the same way at Costco as they do at other grocery stores. Not only does Costco only accept Mastercard branded credit cards in their warehouse stores, but many credit cards with rewards points don’t always work the same way when shopping here either. Shopping at Costco is often an exception to higher-earn categories, specifically when it comes to groceries. Look for a Costo-branded Mastercard to get the most out of your big shops here.
—Hannah Logan, Money.ca credit card, saving and travel expert
Keep in mind that many of Canada’s top cash back and rewards cards give their highest earn rates for grocery purchases. But Mastercard’s merchant codes (the system by which stores are sorted into purchase categories) do not recognize Costco as a grocery store, so we’ve generally chosen credit cards that offer favourable flat cash back or rewards rates to customers on all their purchases—Costco included.
Rogers™ World Elite Mastercard
3% Earn 3% unlimited cash back on purchases made in U.S. dollars.
1.5% Earn 1.5% unlimited cash back on everything else.
$0 Annual Fee To maintain eligibility, you must spend at least $15,000/year.
19.99% Purchase APR Increasing to 20.99% April 2024
22.99% Cash Advance APR
22.99% Balance Transfer Rate
Excellent Recommended Credit Score
$80,000 Required Annual Personal Income
$150,000 Required Annual Household Income
Welcome Offer
$25 Welcome Bonus in cash back rewards upon first card purchase within 3 months of receiving your card2
Learn moreA Rogers card catering to both Costco fans and travel junkies is the Rogers™ World Elite® Mastercard. It grants 1.5% cash back for all purchases made in Canadian dollars. That’s almost double Costco’s own Mastercard, plus cardholders will also earn 3% cash back on all U.S. dollar purchases (net 0.5% after the foreign transaction fee). As a World Elite card, it also provides insurance for out-of-province medical needs, car rentals, trip interruption and cancellation, and protection for new items bought with the card. There’s no annual fee, but you’ll have to demonstrate $80,000 in annual personal income to be eligible.
- 1.5% cash back on all purchases in CAD
- 3% cash back on all purchases in U.S. dollars
- $0 annual fee
- Get a $25 welcome bonus after your first purchase
- Travel medical, trip interruption and cancellation, and rental car insurance
- Extended warranty and purchase protection perks
- Redeem cash back flexibly on gas, groceries, and everyday purchases
The BMO Ascend™ World Elite®* Mastercard®*
5x 5x the points for every $1 spent on eligible travel purchases*
3x 3x the points for every $1 spent on eligible dining and entertainment purchases and recurring bill payments*
1x 1 point for every $1 spent everywhere else*
$150 Annual Fee
20.99% Purchase APR
23.99% Cash Advance APR
23.99% Balance Transfer Rate 21.99% for Quebec residents
2.50% Foreign Transaction Fee
Excellent Recommended Credit Score
$80,000 Required Annual Personal Income
$150,000 Required Annual Household Income
Welcome Offer Ends May 31, 2024
Get up to 90,000 points and the annual fee waived in the first year for both the primary cardholder and authorized users.*
Learn moreWith one of the best flat rewards earning rates on the market, you can now get the highest rewards points for travel of any premium flexible travel card in Canada!† with the BMO World Elite™* Mastercard®*. Cardholders get 5x the points for every $1 spent on eligible travel purchases,* 3x the points for every $1 spent on eligible dining and entertainment purchases and recurring bill payments,* and 1 point for every $1 spent everywhere else.* The BMO World Elite™* Mastercard®* is an effective and flexible way to squeeze savings from your Costco purchases, and it’s made even better with a welcome bonus of up to 60,000* points. Though its $150 price tag is a bit steep, the inclusion of complimentary membership in Mastercard Travel Pass provided by DragonPass,* with four annual complimentary passes., plus an impressive insurance package*, makes it more than worthwhile for Costco shoppers who love to travel in style.
- $150 annual fee
- 5x the points for every $1 spent on eligible travel purchases,* 3x the points for every $1 spent on eligible dining and entertainment purchases and recurring bill payments,* 1 point for every $1 spent everywhere else.*
- Up to 60,000 point welcome bonus and first year fee waiver*
- Complimentary membership in Mastercard Travel Pass provided by DragonPass,* with four annual complimentary passes.
- Insurance for rental car damage, emergency medical, and more*
- Purchase protection and extended warranties*
*Terms and conditions apply.
†Statement based on a comparison of the redeemable value of the non-promotional travel rewards points earned on premium flexible Canadian credit cards as of May 3, 2022. “Flexible” is defined as points earned when you purchase travel anywhere and “premium” refers to cards with an annual fee of ≤ $150 or has an income requirement of ≤ $150,000 annual individual income.
CIBC Costco Mastercard
3% cash back at restaurants and at Costco gas
2% cash back at other gas stations and at Costco.ca
1% cash back on all other purchases including at Costco
$0 Annual Fee Up to 3 additional cardholders for $0
20.75% Purchase APR non-Quebec residents†
22.49% Cash Advance APR non-Quebec residents†
Good Recommended Credit Score
$15,000 Required Annual Personal Income
Welcome Offer
Earn up to 3% cash back on eligible purchases everywhere Mastercard is accepted.
Learn moreWhen looking at Costco credit cards, many people will consider the CIBC Costco Mastercard since it’s Costco's official co-branded credit card. With this card, you’ll earn 3% cash back at restaurants and Costco gas; 2% at other gas stations and Costco.ca; and 1% on all other purchases. While the earning rate is respectable, there’s no increased offer on in-store Costco purchases. That means when you shop at Costco warehouses and pay with your CIBC Costco Mastercard, you’ll only earn 1% cash back.
There are a few additional benefits with the CIBC Costco Mastercard. Your card doubles as your Costco membership, so you don’t need to worry about bringing your membership card with you. You also get mobile device insurance, purchase security, and extended warranty on purchases charged to your card.
You must have a Costco membership to apply for the card, but there’s no annual fee. The only other requirement is a minimum annual income of $15,000. If you have a minimum personal income of $60,000 or a household income of $100,000, you may qualify for the CIBC Costco World Mastercard. The two cards are the same, but the World version has a few extra benefits, such as car rental insurance.
RBC Cash Back Preferred World Elite Mastercard
1.5% Earn up to 1.5% cash back on your spending without limit.
$0.03 Link your card and instantly save 3¢/L on fuel and get 20% more Petro-Points
50 Get 50 Be Well points for every $1 spent on eligible products at Rexall
$99 Annual Fee
20.99% Purchase APR
22.99% Cash Advance APR
22.99% Balance Transfer Rate
Good Recommended Credit Score
$80,000 Required Annual Personal Income
$150,000 Required Annual Household Income
When it comes to navigating Costco runs in Canada, the RBC Preferred World Elite Mastercard offers you a seamless shopping experience. Accepted at Costco locations across the country, this card ensures you can stock up on your essentials with ease. Say goodbye to carrying cash or multiple cards—simply swipe your RBC Preferred World Elite Mastercard and enjoy the convenience of a single payment method at Costco. A minimum personal income of $80,000 or a minimum household income of $150,000 is required to qualify for this card. It also has a $99 annual fee.
If you're comfortable with the annual fee, the perks don't stop there. With the RBC Preferred World Elite Mastercard, you unlock a host of benefits designed to enhance your everyday transactions and lifestyle. Enjoy up to 1.5% cash back rewards on your purchases (without limit), allowing you to earn while you spend. Whether you're stocking up on groceries at Costco, dining out with friends, or making online purchases, every transaction earns you valuable cash back rewards, putting money back in your pocket with every swipe.
In addition to cash back rewards, the RBC Preferred World Elite Mastercard offers premium perks tailored to elevate your overall experience. From convenient insurance coverage for car rentals to Mastercard airport experiences provided by DragonPass, this card ensures you're well taken care of wherever you go. Plus, stay connected with its complimentary Boingo‡ Wi-Fi account and access over 1 million hotspots worldwide. And benefit from instant-fuel savings at Petro-Canada or maximize your Be Well points at Rexall with your RBC Preferred card.
PC® Mastercard®
10 points Earn 10 points per $1 spent everywhere
2 cents Earn 2c per litre in PC Optimum points at Esso and Mobil
30 points Earn 30 points per $1 when purchasing travel through President’s Choice
25 points Earn 25 points per $1 at Shoppers Drug Mart and Pharmaprix
$0 Annual Fee
21.99% Purchase APR *Standard Rate. *Basic rates may apply; see details on provider's site.
22.97% Cash Advance APR
22.97% Balance Transfer Rate
Good Recommended Credit Score
With the PC Financial Mastercard, you’ll earn 10 PC Optimum points per dollar you spend while shopping at Costco. This is a great option for your Costco purchases because, chances are, you do your regular grocery shopping elsewhere. If you choose a Loblaw’s banded store, points you earn at Costco can help offset your regular grocery bill.
Shoppers Drug Mart often has bonus redemption events to further boost the value of your PC Optimum points. That’s where you can redeem a set number of points for more than they’re usually worth. For example, you could redeem 200,000 PC Optimum points for $300 off. The regular value is $200, so that’s a 50% increase.
This card is also appealing because it’s relatively easy to be approved for. You only need an annual income of $15,000 and you don't need to have outstanding credit to be considered. Other factors may apply when determining your eligibility, but this card has fewer restrictions than other rewards cards.
BMO CashBack® World Elite®* Mastercard®*
5% Groceries: 5% cash back up to $500 spent per month ($25 in cash back)*
4% Transit: 4% cash back up to $300 spent per month ($12 in cash back)*
3% Gas: 3% cash back up to $300 spent per month ($9 in cash back)*
2% Recurring Bills: 2% cash back up to $500 spent per month ($10 in cash back)*
1% Everything Else: 1% cash back, unlimited*
$120 Annual Fee
20.99% Purchase APR
23.99% Cash Advance APR 21.99% for Quebec residents
23.99% Balance Transfer Rate
2.90% Foreign Transaction Fee
Excellent Recommended Credit Score
$80,000 Required Annual Personal Income
$150,000 Required Annual Household Income
Welcome Offer
Get up to 10% cash back in your first 3 months and the $120 annual fee waived in the first year.
Learn moreOne of the best cash back credit cards in Canada is the BMO CashBack® World Elite®* Mastercard®*. It’s a great card overall since you’ll earn 5% in cash back on groceries; 4% on transit, 3% on gas; 2% on recurring bills; and 1% on everything else (including Costco). While these earning rates are fantastic, there are billing cycle caps of $500 on groceries; $300 on transit; $300 on gas; and $500 on recurring bill payments. If you exceed those amounts, you’ll earn 1% cash back.
Another appealing aspect of this card is that you can redeem your cash back for as little as $1. That means no waiting for monthly or annual payouts like other cards. In addition, you can apply your cash back as a statement credit, have it deposited to your BMO account, or even invest it with BMO InvestorLine.
Since this is a World Elite Mastercard, the annual personal income of $80,000 or household income of $150,000 does apply. You also get the standard World Elite benefits such as free Boingo Wi-Fi, and a free membership in Mastercard Travel Pass provided by DragonPass (no free passes). The welcome bonus is 10% cash back (capped at $260, conditions apply) for the first three months, and the annual fee of $120 is waived for the first year. Offer ends May 31, 2024.
Rogers Fido™ Mastercard®
1% The 1% cash back rewards rate on all purchases is extremely rich when compared to the market for no-fee cards
$25 Welcome bonus: Fido currently offers a sign-up bonus of $25 when you make your first purchase within three months of receiving your card. Conditions apply.
1.5 Earn 1.5% cash back rewards on all online and in-store Fido purchases, including your monthly Fido bill.
$0 Annual Fee
19.99% Purchase APR
22.99% Cash Advance APR
Good Recommended Credit Score
The Rogers Fido™ Mastercard® is a basic, no-fee cash back credit card. You'll 1.5% cash back on recurring payments and subscriptions, and you get 1% cash back on all other purchases, with no limits. To redeem your cash back, simply use the Rogers Bank app and apply it to one of your recent purchases.
In terms of straight cash savings on Costco bills, this is superior to Costco’s in-house card. Don’t try to use it at a Costco in the USA, however, because unlike our Mastercard-exclusive situation in Canada, our neighbors down south can only use Visa at their local Costco.
This card is attractive because there’s no annual income requirement and no yearly fee, so it’s a popular pick for students and those with a limited income. In addition, new applicants that are approved can earn $25 in cash back when they make at least one purchase with their card within three months of receiving the card.
As the Rogers Fido™ Mastercard® is an entry level card, it lacks additional benefits. That said, the card includes built-in security features such as transaction monitoring and alerts. That’s where you’ll be sent a text message or email if there’s been a suspicious charge to your card. Zero liability insurance is also included, so you won’t be held liable for any unauthorized charges.
RBC Cash Back Mastercard
2% Up to 2% unlimited cash back on groceries
1% Up to 1% unlimited cash back on everything else
$0.03 Link your card and instantly save 3¢/L on fuel and 20% more Petro-Points at Petro Canada
50 Get 50 Be Well points for every $1 spent on eligible products at Rexall
$0 Annual Fee No annual fee
20.99% Purchase APR
22.99% Cash Advance APR $3.50 fee
22.99% Balance Transfer Rate
3.50% Balance Transfer Fee
Good Recommended Credit Score
When it comes to tackling your Costco shopping trips in Canada, the RBC Cash Back Mastercard is an easy go-to companion, offering seamless usability and a range of benefits to enhance your shopping experience. Accepted at Costco locations nationwide, this card ensures you can breeze through checkout lines with ease, simplifying your payment process and allowing you to focus on stocking up on your favorite bulk items.
But the perks of the RBC Cash Back Mastercard extend far beyond its usability at Costco. With this card in hand, you'll enjoy a plethora of benefits designed to maximize your savings and convenience. Earn 2% unlimited cash back rewards on groceries, and 1% unlimited cash back on everything else.
It’s worth noting that many credit card issuers do not consider big-box stores, like Costco, grocery stores. However, you can count on earning the minimum cash back rate of 1% on your Costco runs. Most conveniently the card features no annual fee and savings on fuel. Link your card and instantly save 3¢/L on fuel and 20% more Petro-Points at Petro Canada
*Terms and Conditions apply
Refer to RBC Page for up to date offer terms and conditions.
Which Costco credit cards can you use online?
To compete with other dominant retailers (we’re looking at you, Amazon), Costco has brought online ordering and home delivery to Canadians. It’s already available in most of Canada, leading us to ask: Which card is best for ordering online at Costco.ca? While any of the above Mastercards will more than suffice, Costco has also invited Visa cardholders to use their cards as well—but only for online shopping (not useable for shopping in Costco warehouses). Check out our list of the best Visa cards in Canada if you do most of your Costco shopping online and haven’t found a Mastercard in this article to your taste.
Why is Mastercard the only credit card accepted at Costco?
Although it’s never been officially disclosed, Costco likely only accepts Mastercard in Canada because they’ve negotiated an exclusive deal with the payment network. Whenever a Costco customer pays with their credit card, Mastercard gets a small percentage since they’re the host payment network. By agreeing to an exclusive deal with Mastercard, Costco can pass on any savings to the consumer.
It’s worth noting that Mastercard wasn’t always the only credit card accepted by Costco. There used to be an exclusive agreement with American Express, but that deal ended in 2014. The official Costco credit card can change at any time. Right now, the partnership is with CIBC, but previously, Capital One was the provider.
Payment methods and credit cards accepted at Costco Canada
There are four main payment methods available at Costco warehouses:
- Credit cards (only Mastercard)
- Cash
- Debit
- Costco gift cards
You’re allowed to make your payment with any combination of the three.
Which Costco credit cards can you use online?
If you’re shopping online at Costco.ca, you can pay with a Visa or Mastercard, which means you have the bonus on an additional form of payment if you shop online. Using Costco.ca enables you to purchase items that you can find in store, as well as many products that are only available online.
FAQs
Related articles:
- Best credit cards for groceries in Canada
- Best Walmart credit cards
- Best credit cards for online shopping
- Best credit cards for restaurants
- Best credit cards for Amazon purchases
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