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Best Costco Credit Cards in Canada for September 2023

This guide covers the best Costco Credit Cards in Canada for earning cash back and rewards when you shop at a Costco warehouse or online at,

It is well-known that Costco shoppers are limited when it comes to the credit card accepted at Costco Canada.

American Express cards are a no-no. Mastercard credit cards are generally accepted, and you may be able to use a Visa card when shopping online.

Other payment methods accepted at Costco include debit cards (both Mastercard and Visa), cash, Costco gift cards, Apple Pay, Google Pay, and Samsung Pay.

Best Costco Canada Credit Cards

Credit CardAnnual FeeIncome RequirementCash Back Rewards at Costco
Neo Financial Mastercard$0 (monthly subscription available)NoneUp to 5%
National Bank World Elite Mastercard$150$80,000 personal or $150,000 householdUp to 2%
Rogers World Elite Mastercard$0$80,000 personal or $150,000 household1.5%
CIBC Costco Mastercard$0N/A1-3%
Tangerine Money-Back Credit Card$0$12,000/year personalAt least 0.50%
KOHO Prepaid Mastercard$0 or $84 for PremiumNone0.50% regular KOHO
BMO Cash Back World Elite Mastercard$120$80,000 personal or $150,000 household1%
MBNA Rewards Platinum Plus Mastercard$0None1%

When choosing a credit card for Costco, it is not sufficient to only focus on whether it is an excellent grocery credit card. This is because Costco is not categorized as a “grocery store” which would be MCC 5411 or 5462.

Instead, it falls under MC 5300 for wholesale clubs.

To get the most cash back at Costco, you want a credit card that pays competitive cash back earn rates on all purchases.

1. Neo Financial Mastercard

If you don’t want to pay annual fees for a credit card that earns at a competitive rate at Costco, the Neo Mastercard is worth checking out.

This card pays up to 5% unlimited cash back at over 10,000 partner stores and retailers. To earn more at Costco and Walmart (i.e. grocery and gas), you can subscribe to the Neo Everyday Essentials perk bundle for $8.99 monthly.

You can access cash back earned at any time and apply it as a statement credit.

Note that this card does not provide insurance benefits. Also, it does not have an income requirement.

Apply here or read our detailed review.

Neo Credit Mastercard (Standard)

Rewards: Average of 5% cash back at 10,000+ partners and a minimum of 0.50% cash back across all purchases

Welcome offer: Get 15% cash back on your first purchases, plus a $25 welcome cash bonus.

Interest rates: 19.99% – 29.99% on purchases; 22.99% – 31.99% for cash advances.

Annual fee: $0

2. National Bank World Elite Mastercard

The National Bank World Elite Mastercard is a top travel rewards credit card that’s also great for earning points when you make everyday purchases.

Cardholders earn up to 2 points per $1 spent depending on their net spending over a 12-month period:

  • $0 to $40,000 spent: 1.5 points per $1
  • $40,001 to $80,000 spent: 2 points per $1
  • $80,001 and over: 1.5 points per $1

You can redeem your points for travel, gift cards, banking products, and more.

This credit card includes comprehensive travel insurance coverage and up to $250 in travel credits each year.

You also get unlimited free access to the National Bank VIP Lounge at the Montreal Airport and extended warranty coverage on most purchases for up to 2 additional years.

To qualify for the National Bank World Elite Mastercard, you will need a minimum annual personal income of $80,000 or $150,000 for household income.

Apply here or read our detailed review for more information.

National Bank World Elite Mastercard

Rewards: Earn up to 2% cash back on all purchases; comprehensive travel insurance; up to $250 travel credit/year; VIP perks.

Welcome offer: First year annual fee waived and bonus points when you meet eligibility requirements.

Interest rates: 20.99% for purchases; 22.49% for balance transfers and cash advances.

Annual fee: $150

3. Rogers World Elite Mastercard

The Rogers World Elite Mastercard is a no-annual-fee credit card with top-of-the-line cash back rewards:

  • 1.5% cash back on everyday purchases
  • 3% cash back on purchases made in U.S. dollars

Cardholders get complimentary membership in Mastercard Airport Experiences through LoungeKey with access to airport lounges in multiple countries, plus free Boingo Wi-Fi at 1 million+ locations worldwide.

The Rogers World Elite Mastercard also provides emergency medical, trip interruption, trip cancellation, car rental, extended warranty, and purchase protection insurance.

You need a personal annual income of $80,000 or $150,000 for a household to qualify. Also, you must spend at least $15,000 each year to remain eligible.

4. CIBC Costco Mastercard

The CIBC Costco Mastercard offers 3% cash back at restaurants and Costco gas, 2% cash back at other gas stations and when you shop at, and 1% cash back on all other purchases, including Costco.

This no-annual-fee credit card also includes mobile device insurance, purchase protection, and extended warranty insurance.

While this card may be the default for Costco shoppers, its downsides include:

  • You can only redeem your cash back once a year as a gift certificate at a Costco Canada warehouse
  • You need a Costco membership to apply for the card
  • You need to register for CIBC Online Banking and download the CIBC mobile app to pay your credit card balance

Learn more in this CIBC Costco Mastercard review.

5. Tangerine Money-Back Mastercard

The Tangerine Money-Back Credit Card is one of the best cash back credit cards in Canada. It is also great for students as it only requires a $12,000 annual income and 600+ credit score to qualify for.

This no-annual-fee credit card pays unlimited 2% cash back rewards in two categories of spending (or three if you deposit your cash back in a free Tangerine savings account).

All other purchases earn 0.50% cash back.

Although Costco is not categorized as a grocery store, you will earn at least 0.50% cash back when you shop there using this card.

The Tangerine Money-Back Credit Card also provides purchase protection and extended warranty coverage.

Apply here or read our detailed review. This card offers a welcome bonus when you sign up as shown below.

Tangerine Money-Back Credit Card

Rewards: Earn up to 2% unlimited cash back in up to 3 spending categories and 0.50% on all other purchases.

Welcome offer: Get an extra 10% cash back on up to $1,000 in spending in the first 2 months ($100 value); 1.95% balance transfer rate for 6 months.

Interest rates: 19.95% for purchases, balance transfers, and cash advances.

Annual fee: $0

6. KOHO Prepaid Mastercard

You can now shop at Costco and earn cash back rewards using the reloadable KOHO Prepaid Mastercard.

The free prepaid card pays an unlimited 1% cash back on groceries and transportation, and when you shop at participating retailers, the cash back rate can even be as high as 10%.

In addition to cash back rewards, your free KOHO account also offers these benefits:

  • Unlimited transactions, including Interac e-Transfers
  • Savings interest (up to 2%) on your balance
  • Free budgeting app

For even more perks, you can upgrade to KOHO Premium.

KOHO does not have a minimum income or credit score requirement.

KOHO Prepaid Mastercard

Rewards: Earn 1% cash back on groceries and transportation; Up to 5% cashback at select partners; Earn interest on your balance*.

Welcome offer: Get a $20 bonus when you load and make your first purchase (use promo code CASHBACK during sign-up).

Interest rate fee: 0%

Annual fee: $0

7. MBNA Rewards Platinum Plus Mastercard

The MBNA Rewards Platinum Plus Mastercard offers 2 points per $1 spent on restaurant, grocery, household utilities, and digital media purchases.

On all other purchases, you earn points per $1 spent. After spending $10,000 annually in the 2 points category, your earn rate drops to 1 point per $1 spent.

You can redeem MBNA points for travel, gift cards, and merchandise, or apply them towards your credit card balance.  100 points are equivalent to $1 when used for travel, or 200 points per $1 when redeemed as cash.

This credit card also offers mobile device insurance, purchase protection, and extended warranty benefits.

Learn more in this MBNA Rewards Platinum Plus Mastercard review.

8. BMO Cash Back World Elite Mastercard

The BMO Cash Back World Elite Mastercard has a $120 annual fee.

It offers 5% cash back on groceries (on up to $500 spend/month); 4% cash back on transit (on up to $300 spend/month); 3% back on gas (on up to $300 spend/month); 2% back on recurring bills (on up to $500 spend/month), and 1% cash back on everything else.

This card also includes complimentary membership in Mastercard Airport Experiences provided by LoungeKey, roadside assistance, emergency medical benefits, and more.

Learn more in this BMO Cash Back World Elite Mastercard review.

Other top Credit Cards for Costco shopping are:

What Credit Cards Does Costco Accept?

You can generally shop at Costco using a Mastercard credit card.

Mastercard is accepted whether you are shopping at a Costco Canada warehouse, gas station, or online at

The following methods of payment are acceptable:

Costco Canada Warehouses:

  • Mastercard credit cards
  • Debit cards (Visa and Mastercard)
  • Cash
  • Cheque
  • Costco Shop Card

Costco Gas Station:

  • Mastercard credit cards
  • Debit cards (Visa & Mastercard)
  • Costco Shop Card online purchases:

  • Mastercard credit cards
  • Visa credit cards
  • Debit cards (PIN-based)
  • Costco Shop Card

Costco Canada Credit Card FAQs

Does Costco accept Visa in Canada?

Visa credit cards are not accepted at Costco stores; however, they can be used to make payments online at

Can you use any Mastercard at Costco Canada?

Yes, Mastercard debit and credit cards are accepted at Costco. You can even use a prepaid Mastercard like the one offered by KOHO.

What credit card did Costco switch to?

Costco recently launched the CIBC Costco Mastercard in partnership with CIBC, replacing the Capital One Costco Mastercard.

Best Credit Offers in September 2023

Earn up to 5% cashback and grow your savings + $20 bonus

Best free prepaid reloadable Mastercard plus a $20 welcome bonus.

No credit check and free budgeting app with automatic savings features.

Increase your credit score with an optional credit building add-on.

Earn up to 2.00% interest on your entire balance.*

Get this guaranteed approval credit card for any credit score ($25 bonus)

Get an instant $25 welcome bonus.

Earn 5% unlimited average cash back at thousands of locations.

Guaranteed approval for poor and bad credit scores. Takes 3 minutes.

No monthly fees and up to 15% cashback on your first purchases.

Enjoy up to 5% cash back at over 10,000 retail locations ($25 Bonus)

Get a $25 bonus when you are approved for the Card.

Earn up to 5% unlimited cash back at 10,000+ participating stores.

No annual account fees.

Guaranteed instant approval credit card with 600+ credit score.

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Gravatar for Enoch Omololu, MSc (Econ)
Enoch Omololu, MSc (Econ)

Enoch Omololu is a personal finance expert and a veterinarian. He has a master’s degree in Finance and Investment Management from the University of Aberdeen Business School (Scotland) and has completed several courses and certificates in finance, including the Canadian Securities Course. He also has an MSc. in Agricultural Economics from the University of Manitoba and a Doctor of Veterinary Medicine degree from the University of Ibadan. Enoch is passionate about helping others win with their finances and has been writing about money matters for over a decade. He has been featured or quoted in Forbes, The Globe and Mail, Winnipeg Free Press, Wealthsimple, CBC News, Financial Post, Toronto Star, CTV News, Canadian Securities Exchange, Credit Canada, National Post, and many other personal finance publications. You can learn more about him on the About Page.

His top investment tools include Wealthsimple and Questrade. He earns cash back on purchases using KOHO, monitors his credit score for free using Borrowell, and earns interest on savings through EQ Bank.

4 thoughts on “Best Costco Credit Cards in Canada for September 2023”

  1. Gravatar for K G

    Hello Enoch, my name is Keith, and I enjoy reading your articles. This current one on reward CC’s at Costco provokes this question. Is there a way to determine what a vendors MCC code is. I use the tangerine MC, and was disappointed when a large(ish) purchase I made at the power equipment retailer was ineligible for the 2% under my hardware category. Any thoughts would be appreciated.
    Thanks for the insights

    • Gravatar for Enoch Omololu

      @Keith: It can be challenging to figure this out. While you may be able to find MCC codes listed in your credit card agreement, specific stores are unlikely to be listed there. So, it ends up being a case of wait and see. You could also call the credit card company to confirm the eligibility of specific stores for a reward rate.

  2. Gravatar for Stephen G

    I have an American Express Cobalt which I really like. However, need something as we do spend a fair amount at Costco. Wondering if what the best choice might be as a complimentary card to the Cobalt? Thinking the Rogers based on the low annual fee?

    • Gravatar for Enoch Omololu, MSc (Econ)

      @Stephen: The Rogers card works well as a no-fee alternative. You should take note of its minimum annual spend requirement though.

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