American Express® Green Card vs CIBC Costco Mastercard: Which one is better?
American Express® Green Card
3.9
CIBC Costco Mastercard
2.8
Welcome Bonus*
Earn a Welcome Bonus of 10,000 points when you charge $1,000 in purchases to your Card in the first 3 months.
Welcome Bonus
N/A
Rewards Breakdown
Annual Rewards
$467.86
American Express Membership Rewards
First Year Bonus Value
+
$210
American Express Membership Rewards
Annual Fee
-
$0
First Year Value
$677.86
$467.86 in years after
Based on a hypothetical $2,000/mo average spending. Calculate your rewards.
Rewards Breakdown
Annual Rewards
$347.33
First Year Bonus Value
+
$0
Annual Fee
-
$0
First Year Value
$347.33
Based on a hypothetical $2,000/mo average spending. Calculate your rewards.
While the first year bonus value here may show $0, the actual welcome bonus offer for this credit card is , which we value at $NaN when you meet the minimum spending or other listed requirements. The value of $0 here was derived based on numbers in the spending inputs and whether you meet the minimum listed requirements.
How to Earn Rewards*
- 1x point per $1 spent on all purchases
How to Earn Rewards
- 3% cash back on Restaurants
- 3% cash back on Costco Gas stations and 2% cash back on non-Costco Gas up to a combined maximum of $5,000 in spending (max $150 cashback per year)
- 2% cash back on Costco.ca purchases up to $8,000 in spending (max $160 cashback per year)
- 1% on everything else
Insurance Included*
Extended Warranty
Up to a year
Purchase Protection
90 days
Insurance Included
Extended Warranty
Up to a yearPurchase Protection
Up to 90 days
Mobile Device Insurance
$1000
Extra Benefits*
Extra points
2 points on Amex Travel Online purchases
Amex Experiences™
With Amex Experiences™ and Front Of The Line® Amex Presale Tickets, American Express Cardmembers get access to amazing events in Canada
Extra Benefits
N/A
Interest Rates*
Purchase:
21.99%1
Cash Advance:
21.99%1
Interest Rates
Purchase:
20.75%
Cash Advance:
22.49%
Balance Transfer:
22.49%
Annual Fee*
$0
Annual Fee
$0
Income Required*
Min Personal Income:
N/A
Min Household Income:
N/A
Income Required
Min Personal Income:
$15,000
Min Household Income:
N/A
Loyalty Program*
Loyalty Program
N/A
Point Redemption Options*
Most Optimal
Transfer to Airline Partners
2.1¢ / point
Fixed Point Travel Program
1.66¢ / point
Transfer to Hotel Partners
1.66¢ / point
Statement Credits (Cash)
1¢ / point
Gift Cards
0.91¢ / point
Amazon.ca
0.7¢ / point
Merchandise
0.63¢ / point
Point Redemption Options
Not Applicable
Is this card worth it?
The American Express® Green Card is a great option for those looking for a no-frills card that earns rewards on all purchases without any annual fee or minimum income requirement. It's an accessible card with no cap on rewards, making it ideal for those who want to earn points without the higher costs and complexities of premium cards. However, it does come with lower rewards earnings across most categories and a modest welcome bonus.
Is this card worth it?
The CIBC Costco Mastercard offers one of the highest cashback rates on restaurant purchases in Canada, making it an excellent choice for optimizing rewards in this specific category, especially since it has no annual fees. If you use Costco Gas or shop on Costco Online, there is a decent cashback rate as well. However, for other categories, the cashback rate is average. Notably, you will be better off using other credit cards for warehouse Costco purchases, as you will only earn 1% cashback. If you are looking for no annual fee credit cards only, this is a good card to go for.
Pros
- No Spending Limits: Earn unlimited rewards with no caps.
- Flexible Redemption: Transfer points to other loyalty programs for maximum value.
- VIP Perks: Access a variety of exclusive benefits through Amex Experiences™.
- Eco-Friendly: The card is made from 99% recycled plastic.
Pros
- Decent reward rate for a no annual fee credit card
- One of the highest cashback rates for restaurant purchases in Canada
- Has Mobile insurance
Cons
- Lower Reward Rates: Earn rates are lower compared to other no-fee cards.
- Limited Travel Perks: Lacks some of the travel benefits and insurance options provided by other cards.
Cons
- Doesn't come with a lot of benefits
- Doesn't earn much on Costco Warehouse purchases!
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