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2
/5
CIBC
Mastercard
CIBC Costco MastercardCash Back Calculator
Our Take
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.
Card Details
Interest Rates
Purchase: 20.75%
Cash Advance: 22.49%
Balance Transfer: 22.49%
Annual Fees
Main Card: $0
Additional Cards: $0 up to 3
Annual Income
Personal: $15,000
Household: N/A
Credit Score Estimate
300Poor
560Fair
660⁎Good
725⁎Very Good
760⁎Excellent
Card Type
Credit
Our Rating
2/5
Institution
CIBC
How You 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
Annual Rewards Breakdown
Annual Rewards Summary
Point Redemptions
Redemption Method
Net Value (After Annual Fee)
Insurance & Benefits
Insurance
Coverage
Mobile Device Insurance
$1,000
Purchase Protection
Up to 90 days
Extended Warranty
Up to a year
No additional benefits available for this card.
Pros & Cons
Pros
- Decent overall reward rates
- High dining optimization
- Mobile device insurance
Cons
- Limited benefits
- No Costco warehouse optimization