The CIBC Costco World Mastercard earns cash back and gives cardholders the opportunity to earn 3% cash back at restaurants and Costco gas stations.
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.
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 Costco.ca.
- 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 World version of the Costco credit card comes with additional perks, such as free Boingo Wi-Fi membership.
The CIBC Costco World credit card 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||350 Cash back||$350||Apply|
|American Express SimplyCash Preferred||400 Cash back||$280||Apply|
|BMO CashBack World Elite||250 Cash back||$250||Apply|
|Scotiabank Momentum Visa Infinite||200 Cash back||$200||Apply|
|BMO CashBack Business||150 Cash back||$150||Apply|