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Apply for Costco credit card in Canada? CIBC Costco Mastercard requirements, income and approval
To get Costco's credit card in Canada you apply to CIBC for the CIBC Costco Mastercard: you need a Costco membership, $15,000 a year in income, a good credit score and to be the age of majority. The application takes about 5 minutes, with a response in as little as 60 seconds.
By Flatcart Editorial · Last reviewed Oct 4, 2026 · 3 min read
To apply for Costco credit card approval in Canada, you apply to CIBC for the CIBC Costco Mastercard: you need an active Costco membership, at least $15,000 a year in income, a good credit score, and to be the age of majority in your province. CIBC says the application takes about 5 minutes, with a response in as little as 60 seconds. Our advice: check the requirements below first, because each application adds a hard inquiry to your credit report, approved or not.
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What would you earn if you’re approved?
Enter what you spend each month to see what the card would earn you in a year, with CIBC’s caps applied.
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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.
Who can apply for the CIBC Costco Mastercard?
From CIBC's card page and its application guide, checked October 4, 2026:
Had the old Capital One Costco card? See what happened to it.
| Requirement | What CIBC asks |
|---|---|
| Costco membership | Required: the card is exclusively for Costco members |
| Income | At least $15,000 a year ($50,000 personal or $80,000 household for the World Mastercard) |
| Residency | Canadian citizen or resident; applications from temporary residents may take longer to review |
| Age | The age of majority in your province: 18 or 19 |
| Bankruptcy | None filed in the past 7 years |
| Credit | A good credit score |
If you're not a member yet, a Gold Star membership costs $65 a year; see what each membership costs.
What credit score do you need for the Costco Mastercard?
CIBC doesn't publish a minimum score; it asks for "a good credit score". It explains that your score shows how likely you are to pay on time, that a strong score improves your chances, and that a lower score can mean a lower credit limit. High balances on other cards also count against you. Check your credit report for errors before you apply: in Canada you can get it free from Equifax and TransUnion. Students without that income have other options; see student credit cards.
What do you need to apply?
CIBC lists the information the application asks for:
- Your full legal name and date of birth
- Home address, phone number and email
- Current and previous employers
- Gross annual income
- Information on other credit cards you hold
- Your Social Insurance Number (optional)
Apply online from CIBC's Costco Mastercard page. Have your Costco membership details handy, since the card is for members only.
How long does Costco credit card approval take?
CIBC says applying takes about 5 minutes and you'll get a response in as little as 60 seconds. Some applications need a closer look, including those from temporary residents, which CIBC says may take longer.
Should you apply for the standard or the World Mastercard?
If you qualify for the World Mastercard, it's usually the better pick: CIBC says it has the same fees and rates as the standard card, plus experiences for World Mastercard cardholders. Both cost $0 a year and earn the same cash back. If your income is under $50,000 (or $80,000 for your household), apply for the standard card. Compare both on our card pages.
What happens if your application is declined?
CIBC sends a letter stating the reason. It recommends reviewing your credit report, fixing the issues it points to, and waiting before you reapply, because repeated applications can lower your score further. Meanwhile, Costco warehouses take debit and any Mastercard, so you can still shop: see which cards Costco accepts.
Rebuilding first? A secured card that works at Costco has to be a Mastercard; see secured cards that work at Costco.
Is the Costco Mastercard worth applying for?
For most members, yes: it has a $0 annual fee and pays 3% at restaurants and Costco gas, 2% at Costco.ca and other gas stations, and 1% on everything else, including Costco warehouses. The catch is that cash back comes once a year as a Costco gift certificate. Our full review runs the numbers, and the best cards for Costco compares the alternatives.
Frequently asked questions
- What is the minimum income for the CIBC Costco Mastercard?
- $15,000 a year. The CIBC Costco World Mastercard needs $50,000 personal or $80,000 household income.
- Do you need a Costco membership to get the Costco Mastercard?
- Yes. CIBC says the card is exclusively for Costco members; Gold Star costs $65 a year.
- What credit score do you need for the Costco Mastercard?
- CIBC doesn't publish a minimum on the 300 to 900 Canadian scale; it asks for a good credit score, and says a lower score can mean a lower credit limit.
- How long does it take to get approved?
- CIBC says the application takes about 5 minutes, with a response in as little as 60 seconds. Some applications take longer to review.
- Is there an annual fee on the Costco Mastercard?
- No. It's free, and so are up to 3 extra cards for household members.
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