Best Credit Cards for Costco Canada (2026)

Unlike Costco US (which takes Visa), Costco Canada only accepts Mastercard for in-warehouse and gas pump purchases. Visa and American Express are not accepted at Canadian Costco locations.

Online exception: Costco.ca accepts Mastercard and Visa, but not Amex.

Debit cards: Costco accepts debit cards in-warehouse (Interac), but you won't earn credit card rewards.

This means your existing Visa or Amex cards—no matter how good—are useless at Costco warehouses. You need a Mastercard strategy.

Here's how Costco-friendly Mastercards in our data compare:

The CIBC Costco Mastercard is designed specifically for Costco members:

Earn rates: - 3% cash back at Costco gas stations - 3% at restaurants - 2% at other gas stations, EV charging, and Costco.ca - 1% on everything else (including in-warehouse purchases)

Annual fee: $0 (requires active Costco membership)

Cash back payout: Annual certificate redeemable at Costco

Verdict: Good for Costco gas (3%) and restaurants (3%), but only 1% in-warehouse is disappointing. If most of your Costco spend is on groceries/merchandise, you earn the same as a basic 1% card.

Best for: Costco members who fill up at Costco gas frequently and want a simple, no-fee solution.

The Tangerine Money-Back Credit Card is a no-fee Mastercard that Costco Canada accepts, with rewards you can point at the categories you actually use:

Earn rates: - 2% cash back on 2 categories of your choice (3 with a Tangerine Savings Account) - 0.5% cash back on all other purchases

Annual fee: $0

Why it works at Costco: Tangerine is a Mastercard, so it is accepted at Costco warehouses and gas pumps. In-warehouse purchases typically earn the 0.5% base rate. If you choose Gas as a 2% category, Costco gas can earn 2%.

Math example ($500/month at Costco, $100/month Costco gas): - CIBC Costco: ($500 × 1%) + ($100 × 3%) = $5 + $3 = $8/month, $96/year - Tangerine (0.5% warehouse, 2% gas): ($500 × 0.5%) + ($100 × 2%) = $2.50 + $2 = $4.50/month, $54/year

Verdict: The CIBC Costco card earns more on Costco-specific spend, especially gas. Tangerine is the stronger no-fee pick when you want Costco acceptance plus 2% on other categories you choose—not as a Costco-only card.

Best for: Shoppers who want one no-fee Mastercard for Costco and 2% cash back on selected everyday categories.

The National Bank World Elite Mastercard offers premium rewards but with a $150 annual fee:

Earn rates: - Up to 5 points/$1 on groceries and restaurants - 2 points/$1 on gas, EV, recurring bills - 1 point/$1 on everything else

Costco consideration: Costco warehouses may code as "Wholesale Club" not "Grocery," so you may only earn 1 point/$1 in-warehouse. The 2 points/$1 on gas would apply at Costco gas.

Extra perks: Unlimited Montreal airport lounge access, $150 annual travel expense credit, comprehensive travel insurance.

Verdict: Unless Costco codes as grocery (verify on your statement), this card isn't optimal for Costco specifically. But if you're a Quebec-based traveller who shops at Costco occasionally, the overall value proposition is strong.

Costco gas is often 5–15 cents/litre cheaper than other stations. But which card maximizes your savings?

Costco gas prices: Already discounted, so you're stacking credit card rewards on top of savings.

Best cards for Costco gas: 1. **CIBC Costco Mastercard (3%):** On $1.50/L gas, 3% = 4.5¢/L in rewards 2. **BMO CashBack World Elite (3% gas):** Same 3% rate, but $139 fee 3. **Tangerine Money-Back (2% if Gas is a selected category):** 3¢/L at $1.50/L

Tip: If Costco gas is 10¢/L cheaper than Shell, you save more by going to Costco even with a 2% card than paying full price elsewhere with a 3% card.

Get the CIBC Costco Mastercard if: - You fill up at Costco gas frequently (3% is excellent) - You eat at restaurants often (3%) - You want a dedicated Costco card with no annual fee - You don't mind 1% on in-warehouse purchases

Get the Tangerine Money-Back Credit Card if: - You want a no-fee Mastercard that Costco accepts - You prefer 2% on categories you choose (and 0.5% on everything else) - Costco is only part of your spending, not the main reason for the card

Get a different card if: - You rarely shop at Costco (don't get a card just for Costco) - You primarily shop at Costco.ca (Visa works online—use your best Visa)

Hybrid strategy: Use the CIBC Costco card for Costco gas (3%) and restaurants (3%). In-warehouse purchases earn 1% on that card. If Costco codes as grocery on your statement, a grocery-bonus Mastercard such as the BMO CashBack World Elite (5% groceries, $139 fee) or National Bank World Elite (up to 5 points/$1 on eligible groceries) may earn more in-warehouse.