CIBC · Business

CIBC Costco Business Mastercard

The no-fee Costco card for businesses, with 2% on Costco online orders, shipping and insurance services.

Our verdict: The right card for any business, even a side one, that shops at Costco, as long as you’re comfortable being personally liable for the balance.

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Guides:All 9 Business Centres Business Centre vs regular Costco Costco gas

Key facts

Cash back: RestaurantsOn the first $8,000 a year, then 1%: 3%
Cash back: Gas at CostcoOn the first $8,000 a year (shared cap), then 1%: 3%
Cash back: Costco.ca and Costcobusinesscentre.caOn the first $8,000 a year, then 1%: 2%
Cash back: Shipping and insurance servicesOn the first $8,000 a year, then 1%: 2%
Cash back: Other gas stations and EV chargingOn the first $8,000 a year (shared cap), then 1%: 2%
Cash back: Everything else, including Costco warehouses: 1%
Annual fee: $0
Authorized users: $0, up to 9
Costco membership required: Yes
Rewards paid as: A yearly Costco cash back gift certificate, with your January statement
Minimum income: $15,000 individual a year
Welcome bonus: $100 when you spend $3,000 within 120 days (as of October 2026)
Foreign transaction fee: 2.5%
Category caps: Each bonus category: first $8,000 a year, then 1%. No limit on total cash back
Insurance: Mobile device insurance, purchase security and extended warranty, including business purchases

Checked against CIBC’s card page on Oct 4, 2026. Card terms change; confirm before you apply.

Pros

$0 annual fee, with up to 9 authorized users at $0
Set a spending limit for each authorized user
2% on shipping, insurance services and Costcobusinesscentre.ca
Insurance covers business purchases
$100 welcome bonus and a 20.75% purchase rate

Cons

Every bonus category drops to 1% after $8,000 a year
Cash back is paid once a year, as a Costco-only gift certificate
Personal liability: the cardholder, not the business, owes the balance
Only 1% on warehouse and Business Centre in-store purchases

Our review

Is the CIBC Costco Business Mastercard worth it?

The CIBC Costco Business Mastercard is the personal card’s rates plus three extras for businesses: 2% on shipping, insurance services and Costcobusinesscentre.ca orders, up to 9 free authorized users with spending limits you set, and a $100 welcome bonus when you spend $3,000 in 120 days.

Two details set it apart. Its purchase rate is 20.75%, a point below the personal card. And its insurance covers purchases for the business, which the personal card’s certificate excludes. Each bonus category earns its rate on the first $8,000 a year, then 1%.

You’re personally liable for the balance, and cash back still comes once a year as a Costco gift certificate you can spend on business or personal purchases.

Rewards

What it earns

Where you spend	Cash back	Yearly cap
Restaurants	3%	On the first $8,000 a year, then 1%
Gas at Costco	3%	On the first $8,000 a year (shared cap), then 1%
Costco.ca and Costcobusinesscentre.ca	2%	On the first $8,000 a year, then 1%
Shipping and insurance services	2%	On the first $8,000 a year, then 1%
Other gas stations and EV charging	2%	On the first $8,000 a year (shared cap), then 1%
Everything else, including Costco warehouses	1%	No cap

Caps are on net purchases (less returns) and reset every January 1. There’s no limit on total cash back.

Estimate your yearly cash back

Sample data

CategoryMonthly spendEarn rate

Restaurants$%

Gas at Costco$%

Costco.ca and Costcobusinesscentre.ca$%

Shipping and insurance services$%

Other gas stations and EV charging$%

Everything else, including Costco warehouses$%

Estimated cash back per year

$258.00

Rates are CIBC’s published rates and are editable, as is the spending. Includes CIBC’s yearly category caps (spending above a cap earns 1%); there’s no limit on total cash back. Check current terms before you apply.

Compare Costco credit cards

Redeeming

How the cash back is paid

When: Once a year, with your January statement, for January 1 to December 31
Form: A Costco cash back gift certificate (paper or in the CIBC app), not cash
Where: In person at Canadian Costco warehouses, by the primary cardholder
Use: Business or personal purchases; linked to your Costco membership
Forfeited if: The account is closed, switched to another CIBC card or not in good standing on December 31

Protection

Insurance included

Purchase security: Loss, theft or damage for 90 days after purchase
Extended warranty: Doubles the manufacturer’s warranty, up to 1 extra year
Mobile device insurance: Up to $1,000 per claim for loss, theft or accidental damage, for 2 years, after depreciation (2% a month) and a 10% deductible
Business purchases: Covered (the personal card’s certificate excludes them)

Interest

Interest rates

Purchases: 20.75%
Cash advances, balance transfers, convenience cheques: 22.49% (21.99% in Quebec)
Interest-free grace period: At least 21 days on purchases, if you pay the full amount due

Fees

Annual fee: $0 (primary and up to 9 authorized users)
Foreign currency conversion: 2.5% of the converted amount
Cash advance: $5 in Canada, $7.50 outside Canada
Over the credit limit: $29 per statement period
Mailed paper statement: $2.25 a month (eStatements free)
Installment plan fee: Up to 3% (none on Pace It plans for eligible Costco purchases)
Dishonoured payment: $42.50
Minimum credit limit: $1,000

Eligibility

Who can apply

Costco membership: Required (one membership can hold a Business and a personal card)
Income: $15,000 individual a year
Liability: Personal: governed by CIBC’s Business Cardholder Agreement (Personal Liability)
Documents: CIBC publishes a list of the business information it asks for

Features

More features

Welcome bonus: $100 statement credit when you spend $3,000 within 120 days (as of October 2026)
CIBC Pace It on Costco purchases: 5.99% for 6 months, 6.99% for 12 months or 7.99% for 24 months, no installment fee, including Costcobusinesscentre.ca
Authorized user limits: Set and change purchase and cash advance limits for each user
Membership card: Your Costco membership details are on the back of the card

CIBC documents we checked

Good fit if

Restaurants, offices and retailers that shop at Costco Business Centres
Businesses that fuel vehicles at Costco

Skip it if

Your business spends mostly on categories this card doesn’t reward
You need rewards paid as cash or statement credit rather than at Costco

Ready to apply for the CIBC Costco Business Mastercard?

You’ll finish the application on CIBC’s site. Check the current terms there first.

Apply at CIBC

Compare

How it compares with the other Costco cards

Personal

CIBC Costco Mastercard

The standard Costco credit card in Canada: no annual fee, cash back paid once a year as a Costco gift certificate.

Personal (higher income)

CIBC Costco World Mastercard

The same no-fee Costco card and cash back, with World Mastercard benefits for members who meet the income requirement.

Head to head

How it compares with other business cards

Guides:Best business credit card for Costco Business vs personal Costco Mastercard Which card at a Business Centre

FAQ

CIBC Costco Business Mastercard: common questions

Who can get the Costco Business Mastercard?

Costco members with a minimum individual income of $15,000 a year. Confirm the business eligibility rules with CIBC when you apply.

Can I add employee cards?

Yes: up to 9 authorized users at no cost, each with a spending limit you set.

Is there a limit on the cash back?

No limit on the total, but each bonus category (restaurants, gas and EV charging, Costco online, shipping and insurance services) earns its rate on the first $8,000 a year, then 1%.

Does it work at Costco Business Centres?

Yes, it is a Mastercard, which Costco accepts at warehouses and Business Centres.

Costco card updates

Hear when Costco card terms or offers change.

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