Costco Canada is Mastercard-only in store. Here's the full strategy to earn the most on Costco — and everywhere else your money goes.
Sorted by fit, not by affiliate payout. Each is scored the same way we'd advise a friend.
1.5% back on all purchases (2% for Rogers customers) with no annual fee. The single most reliable Costco Canada card for most households.
The official Costco co-brand. No annual fee, straightforward earn, and 3% cash back at Costco gas.
Use the MBNA in-store for 5x points capped at $50K/yr, and the Cobalt everywhere else for 5x MR on groceries and dining. This combo travels further than any single card.
A few structural facts that shape every recommendation on this page.
Costco Canada's exclusive network deal means Visa and Amex are declined at the warehouse till.
The 2% Executive reward is layered on top of any credit card earn — often the highest return on Costco spend.
Gas bar purchases often earn different rewards than warehouse spend. The right card matters here.
Online orders accept all networks — a rare chance to use premium Amex earn rates at Costco.
Scroll horizontally on mobile. Numbers are Canadian, current as of the last update.
| Card | Annual Fee | Rewards Rate | Welcome Bonus | Best For | Rating |
|---|---|---|---|---|---|
| Rogers Red World Elite Mastercard | $0 | 1.5% – 2% back | Up to $60 | Simple all-purpose Costco earning | 9.4 / 10 |
| MBNA Rewards World Elite Mastercard | $120 | 5x on first $50K | 10,000 pts | Households spending $600+/mo at Costco | 9.1 / 10 |
| CIBC Costco Mastercard | $0 | 1% – 3% back | None | Costco loyalists who want no-fee simplicity | 8.6 / 10 |
| PC Financial World Elite Mastercard | $0 | 10 – 30 pts / $1 | 20,000 pts | Loblaw shoppers who visit Costco occasionally | 8.2 / 10 |
| Tangerine Money-Back Mastercard | $0 | 2% in 3 categories | $150 | Budget-focused Costco members | 8.0 / 10 |
The end-to-end play we'd run if this were our wallet.
Pick one primary Mastercard for in-store Costco spend. For most households, Rogers Red (no fee) is the right default. Heavy Costco spenders should model the MBNA World Elite.
The bigger win is your non-Costco spending. Pair your Costco card with a category earner like the Amex Cobalt (groceries, dining) or Scotia Momentum Visa Infinite (recurring bills).
Membership Rewards and Aeroplan run periodic 20-30% transfer bonuses. If you're stacking a travel wallet alongside Costco, batch redemptions during those windows.
Rogers, MBNA, and CIBC all change program terms every 12-24 months. Rerun your rewards audit each year to make sure your Costco card is still the right one.
Executed well, this playbook returns $300 – $850 in additional annual value for a family of four spending $600/month at Costco — without changing what you buy.
Three scenarios modelled from typical Costco members.
How this playbook scores across the dimensions we care about.
Only online at Costco.ca. In-store purchases at the warehouse and gas bar are Mastercard only.
Same rule — online only. Since 2015, the in-store network partner in Canada has been Mastercard.
The math typically works out above about $3,000/year in Costco spend. Below that, Gold Star membership paired with a stronger everyday Mastercard often earns more net value.
CIBC pays out as a Costco Shop Card and earns 3% at Costco gas. Rogers Red is more flexible and earns 1.5-2% everywhere, including inside Costco. Most households come out slightly ahead with Rogers Red unless they buy a lot of Costco gas.
Yes. The 2% Executive reward is a Costco program benefit and is entirely separate from your credit card issuer's rewards.
The right Costco strategy depends on your current cards, goals, spending habits, nearby merchants, and travel plans. Run your Rewards Audit and see the playbook built for your wallet.
