CIBC Costco Mastercard: get to know the card and understand its limits, fees and fees

The words savings and free annual fees sound like music to the ears, which makes the credit card more attractive and fills the eyes of card users.

Having access to a card that requires a low minimum annual income and does not charge an annual fee seems almost impossible, right?

Especially when what the customer is looking for are benefits and ease of payment.

With the CIBC Costco Mastercard, customers do not pay a monthly fee.

They can also save on their purchases with the cashback rewards offered by Mastercard.

Among the leading financial institutions in Canada is Cibc, issuer of the Costco card.

To better understand the functionality of the card and what it offers to the customer, we wrote this article.

Is the CIBC Costco Mastercard right for you?

The CIBC Costco Mastercard was created exclusively for Costco members.

In addition to enjoying their membership perks, they now have a credit card loaded with its own set of benefits.

How to request Cibc Costco?

Here’s a step-by-step guide that will help you apply for your Cibc Costco Mastercard with ease, check it out now:

1. Visit the official CIBC website;
2. Find the Cibc Costco Mastercard in the “cards” area;
3. Click on “request card”;
4. Read and accept the terms with a summary of the card’s annual fees;
5. Now fill in all the information requested;
6. After filling out, send your request.

Okay, now just wait for your request to go through analysis.

As soon as it is available you will receive an email with the response to your request.

Remembering that, to request the Cibc Costco Mastercard, you must already be a Costco member.

If you are not already, register on the website and take advantage of all the discounts that Costco members can enjoy monthly.

Credit card benefits

Several benefits come with applying for the CIBC Costco card.

We’ve listed some of the key advantages customers will enjoy—find out what they are:

• Insurance is included, such as insurance for your cell phone, extended warranty insurance and purchase protection insurance.
• Annual Cash Gift Card redemptions can be made at any Costco supermarket in Canada.
• Get the best special interest rates when you pay in installments on your purchases made with CIBC Pace It (see which purchases are eligible)
• Take control of your account easily and securely through the CIBC Mobile Banking app.

Credit card limit

The Cibc Costco Mastercard credit card limit is defined by credit analysis, which will take into account your purchase and payment history.

It is not possible to set a limit before the consumer’s profile is known by the financial institution, credit cards are personalized for each customer, based on their personal information.

Cibc Costco: Fees and tariffs

Better understand Cibc Costco Mastercard fees:

• Card annual fee: No annual fee is charged;
• Minimum income required: US$15,000 annually;
• Additional card annual fee: Free for three dependents;
• Interest rate on purchases: 19.75% (changed to 20.75% for December 2023);
• Cash interest rate for Quebec residents: 21.49% (changing to 22.49% in December 2023).

Mastercard cashback benefits

Check out the places where you can earn cashback using your Cibc Costco Mastercard:

• When making purchases in restaurants you will receive 3% cashback;
• When you fill up at Costco Gás gas stations you get 3% cashback;
• For purchases made at Costco.ca you receive 2% cashback;
• 2% cashback will be returned at any other gas station;
• For physical purchases at any location, 1% cashback will be returned;
• Buying at any Costco supermarket you will receive 1% cashback.

Opinion about the card

Taking into consideration the cashback offered by the card, the discount benefits, and the card’s protection features, the Costco Mastercard stands out.

It’s an excellent choice for long‑term use.

Not paying an annual fee is another key advantage, helping to keep more money in the consumer’s pocket.

That’s something you won’t find with just any credit card, many of which charge multiple fees that can make them less worthwhile over time.

We consider the Costco card an ally for your daily purchases and savings.

If you liked this information, read the step-by-step guide on how to apply, and make good use of the card, of course, without forgetting the planning that must be done to maintain the health of your finances.

Click the button below to be redirected to the official website responsible for applying for a credit card Cibc Costco Mastercard.

GO TO OFFICIAL WEBSITE