Amazon.ca Rewards Mastercard® vs CIBC Costco Mastercard

Which one is better? Both cards worked out on the same spending: rewards, welcome bonus, fees and perks, line by line.

Amazon.ca Rewards Mastercard®

3.1

Apply now
Our reviewRewards calculator
CIBC Costco Mastercard

2.0

Learn more
Our reviewRewards calculator

Welcome bonus

Each offer as the issuer words it. The numbers below show whether your spending reaches it.

The offer

The offer

Up to $150

No welcome bonus right now.

What each card is worth

Rewards, the welcome bonus and any Finly rebate in, the annual fee and FX fees out, all on your spending.

Worked out on a typical $2,000 a month of spending. Enter yours to see your own numbers.

$394

First-year value

$350

$244

Every year after

$350

Amazon Rewards Mastercard is worth $44 more to you in year one.

From year two, CIBC Costco Mastercard pulls ahead by $106 a year.

How the first year adds up

Amazon Prime

Amazon Rewards Mastercard

Amazon Prime member?

Eligible customers unlock boosted rewards on this card

+$8

Annual rewards

$243.95

cash back a year

Welcome bonus

+ $150

first year only

Annual fee

− $0

no annual fee

First-year value

$393.95

Annual rewards

$349.91

cash back a year

Welcome bonus

+ $0

no welcome offer

Annual fee

− $0

no annual fee

First-year value

$349.91

Where each card earns

A year of your spending at each card's own reward rates, most first.

1.5%AmazonCA, WholeFoods

$11.84

1%All other purchases

$232.11

3%Food and drinks

$126

2%Gas

$39.74

3%CostcoGas

$5.18

2%COSTCOonline

$5.16

1%All other purchases

$173.82

Fees, rates and eligibility

What each card costs to hold and to use abroad, and who it's for.

$0

Annual fee

$0
$0

Additional cards

$0 up to 3

Interest rates

Interest rates

Purchase:

21.74%

Cash Advance:

22.99%

Purchase:

20.75%

Cash Advance:

22.49%

Balance Transfer:

22.49%

Recommended credit score

Recommended credit score

300
Poor
560
Fair
660⁎
Good
725⁎
Very Good
760⁎
Excellent
⁎Estimates based on Equifax scoring
300
Poor
560
Fair
660⁎
Good
725⁎
Very Good
760⁎
Excellent
⁎Estimates based on Equifax scoring

Income required

Income required

Min Personal Income:

N/A

Min Household Income:

N/A

Min Personal Income:

$15,000

Min Household Income:

N/A

How each card earns

The earn rates and caps, as each issuer sets them.

  • 2.5% cashback on Amazon.ca, Whole Foods and foreign currency transactions IF a prime member
  • Only 1.5% on Amazon.ca and Whole foods and 1% on foreign currency transactions IF not a prime member
  • 1% cashback on everything else
  • 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 and perks

What both cards include comes first in each list.

Insurance

Insurance

  • extended warranty

    Extended Warranty

    Up to a year
  • purchase protection

    Purchase Protection

    90 days
  • extended warranty

    Extended Warranty

    Up to a year
  • purchase protection

    Purchase Protection

    Up to 90 days
  • mobile device insurance

    Mobile Device Insurance

    $1,000

Perks

Perks

  • car rental

    Car Rental Discount

    10% off base rate of Avis Rent A Car and Budget Rent A Car
  • gavel

    Trip and legal Assistance

    Yes

No extra perks.

Our take

Why we like it

Why we like it

If you are a Prime member and want to maximize your cashback on your Amazon purchases, then this card is the best option for that specific purchase category. However, for other purchases, many other cards offer better benefits and rewards.

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

  • Impressive Prime optimization
  • Foreign currency cashback
  • Decent overall reward rates
  • High dining optimization
  • Mobile device insurance

Cons

Cons

  • Low non-Amazon optimization
  • Limited benefits
  • Limited benefits
  • No Costco warehouse optimization

More comparisons

Other cards we've put each of these up against.