CIBC Costco World Mastercard

The CIBC Costco World Mastercard earns cash back and gives cardholders the opportunity to earnย 3% cash backย at restaurants and Costco gas stations.

Check out our CIBC Costco World Mastercard review for more details.

In order to apply for the CIBC Costco World Mastercard, the applicant must already have an active Costco Wholesale membership. This card was previously issued by Capital One as the Capital One Costco Mastercard, until CIBC took over the portfolio in March 2022.

Rewards Rates

The CIBC Costco World Mastercard earns cash back for all purchases made on the card:

  • 3% cash back on purchases at restaurants and at Costco gas stations.
  • 2% cash back on purchases at other gas stations (non-Costco) and
  • 1% cash back on all other purchases (including at Costco).

Redeeming Cash Back

In January, the CIBC Costco World Mastercard cardholder will receive a cash back gift certificate for the cash back that was earned during the previous calendar year. This gift certificate can be redeemed as a credit toward your purchases at Costco warehouses in Canada. Your account must be open and in good standing as of December 31st to receive the Costco cash back gift certificate in January.


The CIBC Costco World Mastercard comes with additional perks, such as free Boingo Wi-Fi membership which is a great way to access free WiFi on WestJet flights.

Insurance Coverage

The CIBC Costco World Mastercard offers three types of insurance coverage:

  • Mobile device insurance
  • Purchase security
  • Extended warranty insurance

Refer to the CIBC Costco Mastercard insurance certificate for additional details, including terms and conditions for eligibility.

Other Cash Back Cards You Might Consider

Credit Card Welcome Bonus Net Value
TD Cash Back Visa Infinite Card 350 cash back $350 Apply
American Express SimplyCash Preferred Card 400 cash back $280 Apply
BMO CashBack World Elite Mastercard 250 cash back $250 Apply
Scotiabank Momentum Visa Infinite Card 200 cash back $200 Apply
BMO CashBack Business Mastercard 150 cash back $150 Apply

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Disclaimer: these responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.

5 comments on “CIBC Costco World Mastercard

    • Yes it does this is their statement “Car rental insurance
      Pays for covered physical damage and theft of a rental vehicle when an eligible Mastercard is used to pay for the rental transaction. Not available on all World products.*”

      • Wilson, can you cite where you see this? Rental vehicle insurance is not listed on their website and if you search their insurance certificate there is no mention of rental vehicle coverage or the text you mentioned.