CIBC · Mastercard · Cash back
Reviewed 2026-07-06 · By The Points Standard editorial team
CIBC Costco Mastercard
The default card for Costco members in Canada: free, simple, and well-matched to gas and warehouse spend, though the annual payout and membership requirement are real friction points.
Standard Score breakdown — Situational
Six weighted components, each rated 0–10. "Contributes" is the rating × weight — add all six and you get the 5.58/10 Standard Score above.
See how the Standard Score works or re-weight it to your priorities.
The numbers
| Annual fee | None |
| Welcome bonus | Up to $100 cash back for new cardholders (offers vary) |
| Est. bonus value | ≈ $100 |
| First-year net value | ≈ $260 |
Earn rates
| Restaurants | 3% |
| Costco gas stations/EV charging (first $5,000/year) | 3% |
| Costco.ca (first $8,000/year) | 2% |
| Everything else | 1% |
Why it earns its score
- Exclusive Costco co-brand Mastercard with no annual fee
- 3% on Costco gas and restaurants
- One of the only Mastercards accepted at Costco gas stations in Canada
Where it loses points
- Requires an active paid Costco membership to hold the card
- Base 1% rate and category caps limit blended value outside Costco spend
- Cash back is paid out once a year as a certificate, not on demand
Who it's for
Costco members who fill up at Costco gas stations and want a free card that pairs naturally with warehouse shopping.
Who should skip it
You're not a Costco member, or your spend is mostly outside Costco categories — a flat cash-back card earns more elsewhere.
Included insurance
Purchase protection · Extended warranty
Source: issuer card page · Last reviewed 2026-07-06. Details change often — confirm current terms with the issuer before applying.