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.
Earning Cash Back
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.
Fees & Eligibility
| Personal Income | $60,000 |
| Household Income | $100,000 |
| Annual Fee | $0 |
| Foreign Exchange Fee | 2.50% |
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
| Credit Card | ||
|---|---|---|
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$480 cash back and $125 FlyerFunds Estimated value: $605 Ends Oct 31, 2026 |
|
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$350 cash back Estimated value: $350 |
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$200 cash back and $100 FlyerFunds Estimated value: $300 Ends Apr 30, 2026 |
|
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$120 cash back and $160 FlyerFunds Estimated value: $280 Ends Jan 30, 2026 |
|
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$100 cash back and $160 FlyerFunds Estimated value: $260 Ends Jan 30, 2026 |
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Does the CIBC Costco world Mastercard provide lounge access or discounts when at airports?
Hi Lisa,
Unfortunately, no. You might be better suited with a credit card that provides free airport lounge access if that is one of the main benefits you are looking for.
I recently obtained a CIBC/Costco M/C card but have no bank accounts or other business with the bank! How then do I establish a website so that I may view my credit card purchases?
You’ll need to register for a CIBC online profile. Click Sign On -> Register.
I want to make a book mark for my Costo cibc card?
Does this World Mastercard include Car Rental Insurance liability coverage?
Hi Dave,
The CIBC Costco World Mastercard does not offer rental car insurance or liability coverage.
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.