CIBC · 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.
Our verdict: Choose it over the standard card if you qualify, since it costs nothing extra; don’t stretch for it, because it earns exactly the same.
Guides:Cash back reviewIs Executive worth it?Costco gas: 3% back
Key facts
- Cash back: Restaurants
- 3%
- Cash back: Gas at CostcoOn the first $5,000 a year (shared cap), then 1%
- 3%
- Cash back: Costco.caOn the first $8,000 a year, then 1%
- 2%
- Cash back: Other gas stations and EV chargingOn the first $5,000 a year (shared cap), then 1%
- 2%
- Cash back: Everything else, including Costco warehouses
- 1%
- Annual fee
- $0
- Additional cardholders
- $0, up to 3
- Costco membership required
- Yes
- Rewards paid as
- A yearly Costco cash back gift certificate, with your January statement
- Minimum income
- $50,000 individual or $80,000 household a year
- Category caps
- Same as the standard card: 3% and 2% gas on the first $5,000 a year; Costco.ca on the first $8,000
- Foreign transaction fee
- 2.5%
- Insurance
- Mobile device insurance (up to $1,000), purchase security and extended warranty (up to 1 extra year)
- Extra benefits
- World Mastercard benefits
Checked against CIBC’s card page on Oct 4, 2026. Card terms change; confirm before you apply.
Pros
- Everything the standard card offers, at the same $0 fee
- Access to Mastercard’s World cardholder experiences
- Same mobile device, purchase security and extended warranty coverage
Cons
- Higher income requirement than the standard card
- No extra cash back or insurance over the standard card
- Stores pay higher fees to accept premium cards, CIBC notes
- Same yearly gift certificate payout and category caps
Our review
Is the CIBC Costco World Mastercard worth it?
The CIBC Costco World Mastercard is the same card as the standard CIBC Costco Mastercard in everything that affects what you pay or earn: the same $0 fee, cash back, category caps, interest rates, 2.5% foreign transaction fee and insurance certificate. The difference is the income requirement ($50,000 personal or $80,000 household) and access to Mastercard’s World cardholder experiences.
If you qualify, it costs you nothing extra to choose it. If you don’t, the standard card earns exactly the same cash back.
Rewards
What it earns
| Where you spend | Cash back | Yearly cap |
|---|---|---|
| Restaurants | 3% | No cap |
| Gas at Costco | 3% | On the first $5,000 a year (shared cap), then 1% |
| Costco.ca | 2% | On the first $8,000 a year, then 1% |
| Other gas stations and EV charging | 2% | On the first $5,000 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 dataEstimated 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.
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
- Expiry
- None, according to CIBC
- 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
- Travel medical, trip cancellation, rental car
- Not included
Interest
Interest rates
- Purchases
- 21.75%
- Cash advances, balance transfers, convenience cheques
- 22.49% (21.99% in Quebec)
- After 2 missed payments in 12 months
- 25.99% purchases / 27.99% cash, for at least 12 months
- Interest-free grace period
- At least 21 days on purchases, if you pay the full amount due
Fees
Fees
- Annual fee
- $0 (primary and up to 3 additional cards)
- 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
- Income
- $50,000 personal or $80,000 household a year
- Residency and age
- Canadian citizen or resident, age of majority in your province
- Credit
- A good credit score; no bankruptcy in the past 7 years
Features
More features
- 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
- Membership card
- Your Costco membership details are on the back of the card
- World Mastercard perks
- Experiences available only to World Mastercard cardholders, set by Mastercard
CIBC documents we checked
Good fit if
- Members who meet the income requirement: same fee and cash back as the standard card, plus World Mastercard benefits
Skip it if
- You don’t meet the $50,000 individual or $80,000 household income requirement: the standard card earns the same cash back
Ready to apply for the CIBC Costco World Mastercard?
You’ll finish the application on CIBC’s site. Check the current terms there first.
Compare
How it compares with the other Costco cards
Head to head
How it compares with other cards
- MBNA Rewards World EliteThe strongest pairing we modelled, if you meet the income requirement.
- Triangle (Canadian Tire)World Elite is a top free partner; it excludes Costco from groceries.
- BMO CashBack3% on supermarket groceries, but a weak 0.5% at Costco.
- Tangerine Money-BackFree 2% categories you pick around Costco.
- CIBC Dividend Visa Infinite4% on groceries and gas, but a Visa Costco won’t take.
- PC World EliteBest at Loblaw stores and Shoppers, 1% at Costco.
- Rogers Red World Elite1.5% to 2% in the warehouse, but not at U.S. Costcos.
- Amazon.ca Rewards2.5% at Amazon.ca with Prime; use it there only.
- Walmart Rewards World3% at Walmart; Walmart Reward Dollars only.
- No foreign transaction fee cardsFor U.S. Costco runs and travel.
- The U.S. Costco Visa (Citi)Why Canadians can’t use it, and what to carry instead.
- Costco World vs standard MastercardSame cash back; the World card adds a few perks.
FAQ
CIBC Costco World Mastercard: common questions
How is it different from the standard CIBC Costco Mastercard?
CIBC says it has the same fees and rates. The difference is the income requirement ($50,000 individual or $80,000 household) and access to World Mastercard benefits.
Are the earn rates the same?
Yes: 3% at restaurants and Costco gas, 2% at Costco.ca and other gas stations and EV charging, and 1% on everything else.
Are the category caps the same?
Yes: 3% and 2% gas on the first $5,000 a year (shared), Costco.ca on the first $8,000, then 1%.
Can I switch from the standard card?
Ask CIBC. Product switches are usually possible if you meet the requirements.
Costco card updates
Hear when Costco card terms or offers change.
CIBC, Costco and Mastercard are trademarks of their respective owners. Flatcart is independent and not affiliated with CIBC or Costco. We may earn a commission when you apply through our links; it never changes our assessment.