With its wide variety of products, competitive pricing, and bulk buying options, Costco is a popular retail chain in Canada. However, frequent Costco shoppers may be looking for ways to save even more on their purchases. One option is to use a credit card that offers rewards on grocery and gas purchases, including those made at Costco. This not only allows for saving money on Costco purchases but also the opportunity to earn rewards that can be used for other purchases.
It’s important to note that not all credit cards offering rewards on grocery and gas purchases are created equal. Some come with high annual fees or offer rewards that are difficult to redeem, while others have more flexible rewards programs or no annual fees. When choosing a credit card for Costco shopping, it’s essential to consider your spending habits and financial goals, along with the benefits and costs of each card.
This blog post highlights some of the top credit cards for Costco shopping in Canada. By comparing their rewards programs, annual fees, and other benefits, we aim to help you find the best credit card for your needs.
Using a credit card that offers rewards on grocery and gas purchases not only helps you save money but also adds to the overall enjoyment of the Costco shopping experience. Whether you’re a frequent shopper or looking to earn rewards on your everyday purchases, read on to discover the best credit cards for Costco shopping in Canada.
About Costco Canada
Costco Canada is a subsidiary of the popular American multinational retail chain, Costco Wholesale Corporation. It is one of the largest membership warehouse clubs in Canada, offering a wide variety of products ranging from groceries and household items to electronics and clothing. The company was first established in Canada in 1985 and has since expanded to include over 100 warehouse locations across the country.
Costco’s business model is centered around offering quality products at competitive prices to its members. To become a member, customers must purchase an annual membership, which provides access to exclusive deals and discounts on Costco products. Memberships can be purchased at any Costco warehouse location or online.
One of the unique features of Costco Canada is its bulk buying options. Customers can purchase products in large quantities, often at a lower price per unit than they would find elsewhere. This is especially useful for customers looking to stock up on items they use frequently, such as household essentials or food items.
In addition to its retail operations, Costco Canada also offers a range of services including travel, auto, and home insurance, as well as a variety of financial products such as mortgages and credit cards. The company also has a strong commitment to sustainability, with initiatives focused on reducing waste, conserving energy, and promoting environmental responsibility.
Overall, Costco Canada has become a go-to destination for Canadians looking for quality products at affordable prices, as well as unique services and benefits for its members. With its commitment to sustainability and community involvement, the company has become a trusted and respected name in the Canadian retail industry.
Top 12 Credit Cards That Can Help You Save Money At Costco
As one of the largest retailers in the world, Costco is known for offering great deals on everything from groceries to electronics. If you’re a regular shopper at Costco, you may want to consider getting a credit card that offers rewards for your purchases. Not only can you save money on your Costco purchases, but you can also earn rewards points or cashback that can be redeemed for other purchases. In this blog post, we’ll take a look at some of the best credit cards for Costco shopping in Canada.
Capital One Costco Mastercard
The Capital One Costco Mastercard is an obvious choice for anyone looking for a credit card to use at Costco. The card offers cashback rewards on all your purchases, including those made at Costco. You’ll earn 2% cashback on eligible gas purchases, up to a maximum of $1,000 per year, and 3% cash back on eligible restaurant and travel purchases. You’ll also earn 0.5% cash back on all other purchases, including those made at Costco.
Another great feature of the Capital One Costco Mastercard is that there is no annual fee. As long as you have a Costco membership, you can apply for this credit card and start earning rewards right away. Plus, the card offers a 0% introductory interest rate on balance transfers for the first six months, which can be a great way to consolidate debt and save money on interest.
Tangerine World Mastercard
If you’re looking for a credit card that offers flexible rewards, the Tangerine World Mastercard is a great option. The card allows you to choose two categories where you’ll earn 2% cashback, and all other purchases will earn 0.5% cashback. One of the eligible categories is “grocery,” which includes purchases made at Costco.
In addition to the cashback rewards, the Tangerine World Mastercard also offers travel benefits, such as travel medical insurance and rental car insurance. There is no annual fee for this card, and you can add additional cardholders to your account for free. Plus, the card offers a 1.95% introductory interest rate on balance transfers for the first six months.
SimplyCash Preferred Card from American Express
The SimplyCash Preferred Card from American Express is a great choice for anyone who wants to earn cashback rewards on all their purchases, including those made at Costco. The card offers 2% cashback on all purchases, with no limit on how much you can earn. Plus, the card offers a welcome bonus of $150 cashback when you spend $2,000 in the first three months.
In addition to the cashback rewards, the SimplyCash Preferred card from American Express also offers travel insurance benefits, such as travel accident insurance and rental car theft and damage insurance. There is a $99 annual fee for this card, but the cashback rewards can more than makeup for the cost if you use the card regularly.
BMO CashBack World Elite Mastercard
The BMO CashBack World Elite Mastercard is a great credit card for anyone who wants to earn cashback rewards on their Costco purchases. The card offers 1.5% cashback on all purchases, including those made at Costco. Plus, the card offers a welcome bonus of $300 cashback when you spend $3,000 in the first three months.
In addition to the cashback rewards, the BMO CashBack World Elite Mastercard also offers travel insurance benefits, such as travel medical insurance and rental car insurance. There is a $120 annual fee for this card, but the cashback rewards and travel benefits can make it a worthwhile investment for frequent Costco shoppers.
Scotia Momentum Visa Infinite Card
The Scotia Momentum Visa Infinite Card is another great credit card for earning cashback rewards on your Costco purchases. The card offers 4% cashback on eligible gas and grocery purchases, including those made at Costco, up to a maximum of $25,000 in annual spending. You’ll also earn 2% cashback on eligible drugstore purchases and recurring bills, and 1% cashback on all other purchases.
In addition to the cashback rewards, the Scotia Momentum Visa Infinite Card also offers travel insurance benefits, such as travel medical insurance and rental car insurance. There is a $120 annual fee for this card, but the cashback rewards and travel benefits can make it a worthwhile investment for frequent Costco shoppers.
PC Financial World Elite Mastercard
If you’re a regular Costco shopper and also shop at other grocery stores, the PC Financial World Elite Mastercard may be a great option for you. The card offers 3% cash back on eligible grocery purchases, including those made at Costco and other grocery stores. You’ll also earn 3 cents per liter in PC Optimum points at Esso and Mobil gas stations.
In addition to the cashback rewards, the PC Financial World Elite Mastercard also offers travel benefits, such as travel emergency medical insurance and rental car insurance. There is no annual fee for this card, and you can earn up to 45,000 PC Optimum points as a welcome bonus when you spend $1,000 in the first three months.
RBC Cash Back Mastercard
The RBC Cash Back Mastercard is a great option for anyone who wants to earn cashback rewards on their Costco purchases without paying an annual fee. The card offers 2% cash back on eligible grocery purchases, including those made at Costco, up to a maximum of $6,000 in annual spending. You’ll also earn 1% cashback on all other purchases.
In addition to the cashback rewards, the RBC Cash Back Mastercard also offers travel benefits, such as rental car insurance and travel accident insurance. There is no annual fee for this card, and you can earn a welcome bonus of $50 cashback when you make your first purchase with the card.
MBNA Rewards World Elite Mastercard
If you’re looking for a credit card that offers flexible rewards that can be redeemed for a variety of purchases, the MBNA Rewards World Elite Mastercard is a great option. The card allows you to earn 2 points per dollar spent on eligible purchases, including those made at Costco, and you can redeem your points for travel, merchandise, or cashback rewards.
In addition to the rewards program, the MBNA Rewards World Elite Mastercard also offers travel insurance benefits, such as travel medical insurance and rental car insurance. There is a $120 annual fee for this card, but the flexible rewards program and travel benefits can make it a worthwhile investment for frequent Costco shoppers.
CIBC Dividend Visa Infinite Card
The CIBC Dividend Visa Infinite Card is another great option for Costco shoppers who want to earn cashback rewards. The card offers 4% cash back on eligible gas and grocery purchases, including those made at Costco, up to a maximum of $20,000 in annual spending. You’ll also earn 2% cashback on eligible Tim Hortons and TELUS purchases, and 1% cashback on all other purchases.
In addition to the cashback rewards, the CIBC Dividend Visa Infinite Card also offers travel insurance benefits, such as travel medical insurance and trip cancellation insurance. There is a $120 annual fee for this card, but you can earn up to $200 cashback as a welcome bonus when you make your first purchase with the card.
Tangerine Money-Back Credit Card
The Tangerine Money-Back Credit Card is a great option for Costco shoppers who want to earn cashback rewards without paying an annual fee. The card offers 2% cash back on up to three categories of your choice, including grocery purchases, and 0.5% cash back on all other purchases.
In addition to the cashback rewards, the Tangerine Money-Back Credit Card also offers purchase assurance and extended warranty benefits. There is no annual fee for this card, and you can earn a welcome bonus of 10% cash back on all purchases for the first three months (up to $1,000 in spending).
American Express SimplyCash Card
The American Express SimplyCash Card is another no-fee credit card that can help you earn cashback rewards on your Costco purchases. The card offers 1.25% cashback on all purchases, with no limit on the amount of cashback you can earn.
In addition to the cashback rewards, the American Express SimplyCash Card also offers travel insurance benefits, such as travel accident insurance and rental car theft and damage insurance. There is no annual fee for this card, and you can earn a welcome bonus of 2.5% cashback on all purchases for the first three months (up to $150 in cashback).
BMO CashBack Mastercard
The BMO CashBack Mastercard is a great option for Costco shoppers who want to earn cashback rewards on their purchases. The card offers 3% cashback on eligible grocery purchases, including those made at Costco, up to a maximum of $500 in cashback per year. You’ll also earn 1% cashback on all other purchases.
In addition to the cashback rewards, the BMO CashBack Mastercard also offers purchase protection and extended warranty benefits. There is no annual fee for this card, and you can earn a welcome bonus of $100 cashback when you spend $1,000 in the first three months.
Final Words
In conclusion, Costco Canada is a popular membership warehouse club that offers a wide range of products and services to its members. For frequent Costco shoppers, using a credit card that offers rewards on grocery and gas purchases can be an excellent way to save money and earn rewards on everyday purchases. By choosing the right credit card, shoppers can earn rewards that can be used for other purchases, travel, or even to offset the cost of their Costco membership.
When choosing a credit card for Costco shopping in Canada, it’s important to consider factors such as rewards programs, annual fees, and other benefits. With so many options available, it can be challenging to determine which credit card is right for you. However, by reviewing the top credit cards for Costco shopping in Canada, you can make an informed decision that aligns with your spending habits and financial goals.
Ultimately, using a credit card that offers rewards on grocery and gas purchases is an excellent way to maximize your savings and rewards while shopping at Costco. With the right credit card in hand, you can enjoy the many benefits of shopping at Costco while earning rewards that can be used for other purchases or experiences.