FacebookTwitterYouTubeInstagramBloggerRSS Feed
Top 5 Mastercard Cards to use at Costco Posted on January 13, 2015
Last Updated: June 5, 2020

 

American Express is gone from Costco Canada stores and Mastercard is in. While Capital One® took the co-branded card away from American Express with essentially the same offering on their Capital One® Platinum Mastercard® it does not mean you have to have that card to shop at Costco. In fact any Mastercard card is accepted at Costco locations across Canada and with so many Mastercard cards to choose from here in the Great White North we thought it would be best to pass along our picks for the five best cards to use at Costco.

1. mbna Rewards World Elite Mastercard - 1.67% to 2% return on Costco purchases

This card underwent some changes not too long ago that made it drop from being the best card to use at Costco to the second best. Ulltimately it can be the best if you only redeem your MBNA Rewards points for travel. When you do you are earning a 2% return on your Costco and all other purchases. However if you redeem for cash back the rate is lower where you will earn a 1.67% return. It will jump back up to first when the Rogers card goes through its changes on June 2.

2. Brim World Elite Mastercard - 2% return on Costco purchases*

The Brim World Elite Mastercard has one of the highest returns for purchases at 2% but there is a reason we have that asterisk above. The 2% on the Brim World Elite Mastercard is limited to $25,000 in annual spending - not just at Costco. So if you spend more than this your rate of return drops to 1% on any spending over and above $25K so it will dliute your return over time. Add in a $199 annual fee and you get the picture as to why we don't actually place this card as the best one to use at Costco. Note this card does have the first year annual fee waived right now

3. BMO CashBack World Elite Mastercard - 1.5% return on Costco purchases

This card isn't travel rewards related but it offers up a good cash back return of 1.5% on all purchases at Costco and everywhere else. Add the limited time offer of 10% back on all purchases in the first three months (up to a total of $200 cash back) with no annual fee in the first year and you can see why this card would be good to use at Costco. The card also offers one of the better insurance packages out there for a cash back card.

4. Rogers World Elite Mastercard - 1.5% return on Costco purchases

This card used to be the number one card to use at Costco but it was devlaued on June 2. The old 1.75% earn rate at Costco has now dropped to 1.5% The Rogers card is a cash back card and you can redeem for cash back against a purchase once your rewards balance hits $20. The card doesn't have a huge sign up bonus but does provide a decent insurance package and best of all - it has no annual fee.

5. WestJet RBC World Elite Mastercard - 1.5% return on Costco Purchases

The earn ratio goes down as we get through this list, the WestJet RBC World Elite Mastercard earns 1.5% WestJet Dollars for every dollar spent which means it is a 1.5% cash back card and that is the return you'll get on your Costco purchases. Add in the $99 to $399 annual companion fares, the $250 sign up bonus, first bag free on WestJet flights and you have yourself not only a good return at Costco but lots of other benefits!

Remember all of the above cards come with the latest Mastercard World Elite benefits

Feature continues below

Advertisement

What about the Capital One® Platinum Mastercard® - Exclusively for Costco members

Although it isn't travel rewards related, the Capital One® Platinum Mastercard® - Exclusively for Costco members is a essentially a cash back card that replaced the True Earnings Card from Costco and American Express. While it has some great cash back earnings for non Costco purchases, you will in fact only earn 0.5% to 1% back on your actual spending at Costco which is less than other cash back or travel rewards credit cards so that is why this card doesn't factor in as one of the best Mastercard cards to use at Costco.

Even if you have a Mastercard card that is not on this list but it earns rewards you are ahead of the game, it doesn't mean that your card is bad. It could very well be the right card for you or perhaps it is just OK and one of these will work better for you, especially if you spend a lot at Costco stores. You should also take into account all your other purchasing and loyalty program miles/points accumulation before applying for a new card or jumping ship from the card you currently have.

There are two other cards that are decent to use at Costco - the Capital One Aspire Travel World Elite Mastercard which provides a 2% return and the Diners Club Club Rewards Mastercard which provides a 1.5% return. The only issue with these two cards is that they aren't available for new applications. Only those people who currently have them can use them at Costco.

What do you think of this list? Are any of these cards in your wallet? If not are you apt to choose one of them or will you go with another Mastercard card?



Continued reading and related articles:

Talk to us!

What card do you use at Costco? Do you think there are other cards that should be considered on this list? Tell us in the comments section below or join the conversation on Facebook and Twitter!

LATEST TOPICS & NEWS

REWARDS CANADA'S TOP FEATURES

SHARE THIS FEATURE


 



Rewards Canada can be found on the following social media channels:
Facebook Twitter YouTube Instagram Blogger RSS Feed

Disclaimers:
Our goal at RewardsCanada.ca is to present readers with reliable financial advice and product choices that will help you achieve your financial goals.
Rewards Canada receives compensation from some companies issuing financial products, like credit cards and bank accounts, that appear on this site.
Unless a post is clearly marked “Sponsored”, however, products mentioned in editorial articles and reviews are based on the author’s subjective assessment of their value to readers, not compensation. For full details and current product information click the Apply now link / learn more link.

Sponsored advertising. The Toronto-Dominion Bank (TD) is not responsible for the contents of this site including any editorials or reviews that may appear on this site. For complete information on this TD credit card, please click on the Apply Now button.



 

FacebookTwitterYouTubeInstagramBloggerRSS Feed
About Us  Media  Consulting  Advertise  Contact Us  Terms of Use / Privacy Policy
Terms of Use / Privacy Policy ©2001 - 2020 Rewards Canada. Part of FFB Group Inc. All rights reserved.