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PC World Elite Mastercard
CIBC Costco Mastercard
Welcome Bonus
Earn 20,000 points when you get approved.
Welcome Bonus
N/A
Rewards Breakdown
Annual Rewards
$260.96
PC Financial
First Year Bonus Value
+
$20
PC Financial
Annual Fee
-
$0
First Year Value
$280.96
$260.96 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.
How to Earn Rewards
How to Earn Rewards
Insurance Included
Extended Warranty
Purchase Protection
Car Rental Damage & Theft
Emergency Out of province Medical
Insurance Included
Extended Warranty
Purchase Protection
Mobile Device Insurance
Extra Benefits
Concierge Services
Identity Theft Assistance
Extra Benefits
N/A
Interest Rates
Purchase:
21.99%
Cash Advance:
22.97%
Interest Rates
Purchase:
20.75%
Cash Advance:
22.49%
Balance Transfer:
22.49%
Annual Fee
$0
Annual Fee
$0
Income Required
Min Personal Income:
$80,000
Min Household Income:
$150,000
Income Required
Min Personal Income:
$15,000
Min Household Income:
N/A
Loyalty Program
Loyalty Program
N/A
Point Redemption Options
Groceries
Gas (Esso)
Point Redemption Options
Not Applicable
Is this card worth it?
This is a great card to have in your arsenal if you frequently shop at Shoppers Drug Mart®, Loblaw's owned chains, and ESSO and Mobil gas stations, as you will earn significant rewards in these categories. The additional benefits, such as out-of-province medical insurance, car rental damage insurance, and concierge service, are impressive and typically only come with cards that have annual fees; however, you can access these benefits for free with this card. We do not recommend using this as your primary credit card but as a supplement to another primary card, especially because there are no fees. This is because the rewards on purchases outside the mentioned shops are very average, and many other cards offer much more substantial rewards for general use.
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
Pros
Cons
Cons
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