BusinessFor business owners

CIBC Costco Business Mastercard

MC CIBC Costco Business MASTERCARD
Annual Fee
$0
Top Earn Rate
3% on Restaurants & Costco Gas
FX Fee
2.5%
Fine Print Score
3/5

We reviewed the full card agreements. Here are the fine-print details.

Last Updated: November 20264 Min Read6 Fine Print Findings

What the Card Offers

CIBC markets the Costco Business Mastercard exclusively for Costco members: no annual fee, cash back on all business purchases including at Costco, the highest rates at restaurants and Costco gas, a card that doubles as your Costco membership card, and installment plans on large purchases.

  • 3%

    Cash back at restaurants and Costco gas1

    3% at restaurants and Costco gas stations in Canada, on the first $8,000 of each a year.

  • 2%

    Costco online, shipping, insurance and gas1

    2% at Costco.ca and Costcobusinesscentre.ca, on shipping, insurance premiums and other gas and EV charging, on the first $8,000 of each a year.

  • $0

    No annual fee, including employee cards2

    No annual fee for the card or up to 9 authorized users, each with their own spending limit.

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  • $100

    Welcome credit3

    A $100 statement credit after $3,000 in purchases within 120 days.

  • $1,000

    Mobile device insurance4

    Up to $1,000 for a lost, stolen or damaged phone bought or financed with the card, less depreciation and a 10% deductible.

  • From 5.99%

    Installment plans on Costco purchases5

    Spread eligible Costco purchases over 6, 12 or 24 months at 5.99%, 6.99% or 7.99%, with no installment fee.

Benefits as advertised by the issuer. The conditions attached to them are in the Fine Print Report below.

Welcome offers change often, and issuers sometimes run limited-time or targeted offers that differ from what's shown here. Confirm the current offer on the issuer's page before you apply.

Sources (5)
  1. CIBC Costco Business Mastercard product page, footnote 2 (retrieved 2026-11-01)
  2. CIBC Business Credit Card Summary of Annual Interest Rates and Fees 13552-2026/10, Annual Fees
  3. CIBC Costco Business Mastercard product page, footnote † (retrieved 2026-11-01)
  4. CIBC Costco Business Mastercard Certificates of Insurance (Amended and Restated July 1, 2025)
  5. CIBC Costco Business Mastercard product page, footnote ‡ (retrieved 2026-11-01)

Points & Redemption

EarnsCash backCIBC Costco Cash Back
Cash Value$1 = $1Issued at face value as a Costco gift certificate
Shopping
Cash Back Gift Certificate, redeemable at Canadian Costco warehouses
Issued once a year in January for the previous year100% of face value

Rates: CIBC Costco Mastercard product page, footnote "costco-multipliers" (retrieved 2026-10-18); CIBC Costco Mastercard Benefits Guide, Rewards Program Terms and Conditions. Cash back is credited to your account balance at face value.

Where It Earns

Among the 55 stores and brands in CardTruth's merchant lookup:

  • Costco GasNamed in the card's terms · Spending cap applies
    3%3% back
  • McDonald'sCategory match · Spending cap applies
    3%3% back
  • SkipTheDishesCategory match · Spending cap applies
    3%3% back
  • StarbucksCategory match · Spending cap applies
    3%3% back
  • Tim HortonsCategory match · Spending cap applies
    3%3% back
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  • Uber EatsCategory match · Spending cap applies
    3%3% back
  • EssoCategory match · Spending cap applies
    2%2% back
  • Petro-CanadaCategory match · Spending cap applies
    2%2% back
  • ShellCategory match · Spending cap applies
    2%2% back
  • UltramarCategory match · Spending cap applies
    2%2% back
Where it doesn't earn more (8)Hide

Online only: Amazon.ca, Crave, Disney+, Netflix, SkipTheDishes, Spotify, Uber (rides), Uber Eats take Mastercard online but not in store.

The Fine Print Report

Fine Print Impact Score
3/5

Moderate fine print. The earn rates are capped by category, and the rewards can only be used at Costco, once a year.

4 Medium2 LowTap a finding for details
Bonus rates end after $8,000 per categoryImpact level: Medium

Every bonus rate stops after $8,000 a year in its category

The 3% and 2% rates each apply only to the first $8,000 in net annual purchases in that category: restaurants, gas and EV charging, Costco online, and shipping and insurance. After that, each earns 1%. The limits reset on January 1.

Why it matters: A business spending more than about $670 a month at restaurants or on gas earns 1% on the rest. Costco warehouse purchases only ever earn 1%.

Ref: CIBC Costco Business Mastercard product page, footnote 2 (retrieved 2026-11-01)
Cash back: yearly Costco certificate onlyImpact level: Medium

Cash back comes once a year as a Costco-only certificate, and you lose it without an active membership

Cash back earned January to December is paid as a gift certificate with the January statement, usable only at Costco. To receive it, the account must be in good standing and the primary cardholder's Costco membership active on December 31.

Why it matters: The business waits up to a year for its rewards, can only spend them at Costco, and forfeits them if it lets the membership lapse before year end.

Ref: CIBC Costco Business Mastercard product page, footnote 6 (retrieved 2026-11-01); CIBC Costco Business Mastercard Benefits Guide
You're personally liable for the balanceImpact level: Medium

You and the business are both personally liable for everything on the account, including employees' cards

The primary cardholder and the business are jointly and individually liable to repay the whole balance, including authorized users' spending and their installment plans, without setoff or counterclaim.

Why it matters: If the business can't pay, CIBC can collect the full balance from you personally.

Ref: CIBC Business Cardholder Agreement (Personal Liability), effective August 1, 2026, s. 1(b) and Installment Plan terms
2.5% FX fee, also charged on refundsImpact level: Medium

2.5% foreign currency fee, charged on refunds too

Foreign currency transactions are converted at the rate CIBC pays, plus a fee of 2.5% of the converted amount, on both debits and credits.

Why it matters: With 1% cash back, foreign spending costs about 1.5% net.

Ref: CIBC Business Credit Card Summary of Annual Interest Rates and Fees 13552-2026/10, Foreign Currency Conversion
Every cardholder needs a Costco membershipImpact level: Low

You and every authorized user need a Costco membership

The primary cardholder must have a valid Costco membership to apply, and each authorized user must have one before being added to the account.

Why it matters: Adding employees means paying for their Costco memberships, which the free employee cards don't cover.

Ref: CIBC Costco Business Mastercard product page, footnotes 1 and 3 (retrieved 2026-11-01)
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Phone cover: 2%/month depreciation, 10% offImpact level: Low

Phone insurance pays the depreciated value less a 10% deductible

Mobile device insurance pays up to the device's depreciated value, which drops 2% of the purchase price for each month since purchase, less a 10% deductible, to a maximum of $1,000 per occurrence.

Why it matters: The certificate's own example: a $900 phone lost after 10 months pays $648.

Ref: CIBC Costco Business Mastercard Certificates of Insurance (Amended and Restated July 1, 2025), Mobile Device Insurance

Who This Card Is For

Great fit if you...

  • Already have a Costco membership
  • Spend on restaurants and gas for the business
  • Want no annual fee and free employee cards
  • Shop at Costco regularly

Consider alternatives if you...

  • Want cash back as a statement credit
  • Spend over $8,000 a year per category
  • Need travel insurance
  • Spend often in foreign currencies

Welcome Bonus History

CIBC Costco Business Welcome Bonus History

Promotional Value
Current Offer ($100)
$120$80$40$0Jan 2026Mar 2026May 2026Jul 2026Sep 2026CurrentJan 2026: $100 cash backFeb 2026: $100 cash backMar 2026: $100 cash backApr 2026: $100 cash backMay 2026: $100 cash backJun 2026: $100 cash backJul 2026: $100 cash backAug 2026: $100 cash backSep 2026: $100 cash backOct 2026: $100 cash back$100 cash back
$120$80$40$0Mar 2026Jul 2026CurrentJan 2026: $100 cash backFeb 2026: $100 cash backMar 2026: $100 cash backApr 2026: $100 cash backMay 2026: $100 cash backJun 2026: $100 cash backJul 2026: $100 cash backAug 2026: $100 cash backSep 2026: $100 cash backOct 2026: $100 cash back$100 cash back

Welcome offers change often, and issuers sometimes run limited-time or targeted offers that differ from what's shown here. Confirm the current offer on the issuer's page before you apply.

The Verdict

The CIBC Costco Business Mastercard is a no-fee business cash back card for Costco members: 3% at restaurants and Costco gas, 2% on Costco online, shipping, insurance and other gas, and 1% on everything else, with phone and purchase insurance.

The fine print limits it: each bonus rate stops after $8,000 a year, the cash back comes once a year as a Costco-only certificate that's lost if your membership lapses, every cardholder needs a membership, and you're personally liable for the balance.

The Recommendation: Best for small businesses that already pay for a Costco membership and spend moderately at restaurants and on gas. If you want cash back you can use anywhere, a no-fee business cash back card is simpler.

Apply for the CIBC Costco Business →

Before you apply: This teardown is general information, not financial, legal or insurance advice, and reflects the issuer's documents as of November 2026. Terms, rates, fees and offers change, and the issuer's own agreement, disclosure statement, insurance certificates and program terms are what govern your card. Read them in full and confirm details with the issuer before you apply. Full disclaimer