CIBC Costco World

The CIBC Costco World Mastercard credit card earns cash back on all purchases and is available to individuals in Canada.

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 Rewards

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

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

Redeeming Rewards

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 towards 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.

Benefits

The World version of the Costco credit card comes with additional perks, such as free Boingo Wi-Fi membership. More information about these benefits can be found here.

Insurance Coverage

The CIBC Costco World credit card offers three types of insurance coverage: mobile device insurance, purchase security, and extended warranty insurance.

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

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