Tangerine World Mastercard
- Enjoy a 10% cashback welcome bonus
- Earn unlimited cashback with no caps on earning potential
- No annual fee
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What credit cards does Costco Canada accept?
Costco accepts only one credit card network in Canada Mastercard. Here are all of Costco's payment options.
It’s easy to rack up big bills at Costco. For that reason, the wholesale club seems like the perfect place to use a credit card. You might be surprised to learn, then, that the only credit cards accepted at Costco are Mastercards.
Why is Mastercard the only credit card Costco accepts?
The answer to this question comes down to one word: fees.
Whenever you swipe your card at a store, the merchant pays interchange fees to the respective payment network — Visa, Mastercard, American Express, etc. Typically, this fee is 2% to 3%. A few years ago, the only credit cards accepted at Costco were American Express. Costco had a deal where its interchange fee would be far lower than the typical fee.
Eventually, that deal ended when Costco asked for a lower interchange fee, and Amex wouldn’t accept. When their deal with Amex expired in 2014, Costco struck a deal with Mastercard. In the end, Costco’s Mastercard-exclusive policy is about cost savings. By working exclusively with one payment network, the company can negotiate lower fees and pass on the savings to Costco shoppers.
Payment methods and credit cards accepted at Costco
| Credit card type | Accepted at Costco |
|---|---|
| Mastercard | ✅ |
| Visa | ❌ |
| American Express (partnership ended in 2014) | ❌ |
| Debit cards (including Visa debit cards) | ✅ |
| Cash | ✅ |
| Personal cheque | ✅ |
| Costco cash card or gift certificate | ✅ |
| Apple Pay, Samsung Pay and Google Pay | ✅ |
Best cards to use at Costco
While your Costco payment options are limited, you can still find rewarding options along with the Mastercard from Costco, which the warehouse club distributes through CIBC.
How we chose the best cards accepted at Costco
Best for earning cash back:
Tangerine World Mastercard
600
Min. credit score
Min. credit score
$0
Annual fee
Annual fee
6 months
1.95% intro transfer APR
1.95% intro transfer APR
Up to
2%
Cash back
Cash back
If you're looking for a $0 annual fee credit card with unlimited cash back rewards and a competitive balance transfer offer, then the Tangerine World Mastercard could be right for you. Earn unlimited 2% cash back in two Tangerine credit card categories of your choice (or three categories if you open a Tangerine Savings Account and directly deposit your cash back into the account), and unlimited 0.5% cash back on everything else. Conditions apply.
- Annual fee. This card has a $0 annual fee.
- Additional cardholders. Add up to 5 additional cardholders for $0.
- Earn rewards. Earn unlimited 2% cash back in two Tangerine credit card categories of your choice (or three categories if you open a Tangerine Savings Account and directly deposit your cash back into the account), and unlimited 0.5% cash back on everything else. Conditions apply.
- Earn even more. You can unlock cashback offers while travelling outside of Canada and get rebates which you can apply to your statement with Mastercard Travel Rewards by using your card at select merchants.
- Balance transfer. Get a 1.95% interest rate on balance transfers for the first six months. To take advantage of this offer, you must complete the Balance Transfer request within 30 days of account approval and activate your card within 45 days of approval. A 1% balance transfer fee will be charged on each transferred amount (the fee is waived by Tangerine if you're a resident of Quebec).
- Travel perks. You'll get a Mastercard Travel Pass Provided by DragonPass. This complimentary membership gives you exclusive dining, retail and spa offers in over 650 airports worldwide, along with access to over 1,300 airport lounges at $32 USD per visit. Plus, never be without internet since your card gives you access to over 1 million Wi-Fi hotspots around the world with Boingo Wi-Fi.
- Rental car. Charge the full cost of a rental vehicle to your card, and get complimentary damage and theft protection for up to 31 consecutive days.
- Apps and subscription access. As a cardholder, you'll have access to special benefits and offers from on-demand apps and subscription services.
- Minimum income requirement. You need a minimum personal income of $60,000 or a combined household income of at least $100,000 to apply for this card.
- Foreign transaction fee. You'll face a foreign transaction fee of 2.5% every time you use your card overseas or online with international retailers.
- Limited travel benefits. Though this card offers some nice travel perks, it doesn't come with many of the travel benefits offered by more premium credit cards such as complimentary travel insurance, free flight and hotel upgrades and discounted car rentals.
| Annual fee | $0 |
|---|---|
| Purchase APR | 19.95% |
| Balance transfer APR | 1.95% intro for the first 6 months (then 19.95% ) |
| Balance transfer fee | $5 or 3% of the transaction, whichever is greater |
| Rewards | Earn unlimited 2% cash back in two Tangerine credit card categories of your choice (or three categories if you open a Tangerine Savings Account and directly deposit your cash back into the account), and unlimited 0.5% cash back on everything else. Conditions apply. |
Best for earning Air Miles:
BMO AIR MILES World Elite Mastercard
760
Min. credit score
Min. credit score
$120
ongoing
Annual fee
Annual fee
Up to
3x
Miles
Miles
2,000
Miles welcome offer
Miles welcome offer
Earn accelerated AIR MILES that can be redeemed for travel perks and merchandise. Get 3 Miles for every $12 spent at participating AIR MILES Reward Partners, 2 Miles for every $12 spent at any eligible grocery store and 1 AIR MILE for every $12 spent on eligible purchases. Earn a bonus of up to 2,000 AIR MILES. Terms apply. Plus, get the annual fee of $120 waived in the first year.
- Get bonus Miles. Earn a bonus of up to 2,000 AIR MILES. Terms apply. Plus, get the annual fee of $120 waived in the first year.
- Earn Miles. Earn mile per $10 spend in purchases.
- Travel coverage. Get peace of mind with a wide range of travel insurance benefits including up to $2,000,000 Out-of-Province/Out-of-Country Emergency Medical Protection as well as coverage for delayed flights, trip cancellations, interruptions and delays, rental car collision damage and baggage loss, theft or damage.
- Car rental. Get up to a 25% discount at National Car Rental and Alamo Rent A Car locations with complimentary Collision Damage Waiver benefits (MSRP of up to $65,000).
- Airport lounge access. Use less Miles with an exclusive 25% discount on one worldwide AIR MILES flight redemption during the calendar year. Plus, get complimentary membership in Mastercard Travel Pass provided by DragonPass..
- Annual fee. This card has an annual fee of $0 in the first year and $120 thereafter.
- Currency conversion. This card has a foreign transaction fee of 2.5%. This will apply on any overseas purchases or any purchases made online with an international retailer.
- Minimum income requirement. You'll need to earn a personal income of at least $80,000, or a combined household income of at least $150,000 annually.
| Annual Fee | $0 intro annual fee for the first year ($120 thereafter) |
|---|---|
| Purchase APR | 20.99% |
| Cash Advance Rate | 23.99% (21.99% for Quebec residents) |
| Balance transfer APR | 23.99% |
| Welcome offer |
Earn a bonus of up to 2,000 AIR MILES. Terms apply. Plus, get the annual fee of $120 waived in the first year. |
| Rewards | Get 3 Miles for every $12 spent at participating AIR MILES Reward Partners, 2 Miles for every $12 spent at any eligible grocery store and 1 AIR MILE for every $12 spent on eligible purchases. |
Best for membership at Costco:
CIBC Costco Mastercard
N/A
Min. credit score
Min. credit score
$0
Annual fee
Annual fee
Up to
3%
Cash back
Cash back
$20
Welcome offer
Welcome offer
The CIBC Costco Mastercard is a cash back card and a Costco Membership card all rolled into one. When you pay at Costco, you only have to present your credit card. Earn 3% cash back on restaurant purchases and Costco gas, 2% on gas purchases and Costco.ca, and 1% on all other purchases. There is no limit to the amount of cash back you can earn. With an annual fee of $0, you'll also get travel benefits, price protection on eligible purchases and other perks.
- Earn cash back. Earn 3% cash back on restaurant purchases and Costco gas, 2% on gas purchases and Costco.ca, and 1% on all other purchases. There is no limit to the amount of cash back you can earn.
- No annual fee. This card comes with no annual fee.
- Travel coverage. Get up to $250,000.00 Common Carrier Travel Accident Insurance for you, your spouse and any dependent children plus access to complimentary baggage delay insurance.
- Costco Membership. This credit card doubles as your Costco Membership.
- Must be a Costco member. In order to apply for the card, you must be a Costco member.
- Lower cash back rate for many purchases. Earn 3% cash back on restaurant purchases and Costco gas, 2% on gas purchases and Costco.ca, and 1% on all other purchases. There is no limit to the amount of cash back you can earn.
| Annual Fee | $0 |
|---|---|
| Purchase APR | 19.75% |
| Cash Advance Rate | 21.49% |
| Balance transfer APR | 19.75% |
| Welcome offer | Get a $20 welcome bonus when you make a purchase with your card and register with the CIBC mobile or online banking app. Valid until December 31, 2022. |
| Rewards | Earn 3% cash back on restaurant purchases and Costco gas, 2% on gas purchases and Costco.ca, and 1% on all other purchases. There is no limit to the amount of cash back you can earn. |
Please note: All information about CIBC Costco Mastercard has been collected independently by Finder and this card is not available through this site.
Compare credit cards accepted at Costco
Bottom line on Costco credit cards
If you want to use a credit card at Costco, you’ll need to bring a Mastercard. But that shouldn’t snuff out your options, however, as there are several rewarding cards and other payment methods you can use for your Costco purchases. To compare more options of credit cards accepted at Costco, check out other Mastercard credit cards.
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