Annual fee
CA$0
Rewards rate
3%-1%
Welcome Bonus
Up to CA$100 statement credit
Apply Now →on CIBC's website
- 3%Cash back on restaurants and Costco gas
- 2%Cash back on other gas/EV charging and Costco.ca
- 1%Cash back on all other purchases
Welcome Bonus:
Receive a $100 statement credit when $3,000 or more is spent within 120 days.
Reward Rate:
Earn 3% cash back on restaurants and Costco gas, 2% on other gas/EV charging and Costco.ca.
A key differentiator is the CIBC Costco Mastercard's strong cash back rewards on gas and dining, making it an excellent choice for Costco members who want to maximize their savings.
Pros:
- No annual fee
- Good cash back on gas and restaurants
Cons:
- Limited to Costco members
- Lower rewards on other purchases
The CIBC Costco Mastercard offers no annual fee and competitive cash back rewards, particularly for gas and dining purchases, making it a suitable option for Costco members who frequently spend in these categories. This card may appeal to those looking to enhance their savings on everyday expenses while benefiting from a straightforward rewards structure.