Cash Back
No Annual Fee
Business
CIBC Costco Business Mastercard
CIBC
Current Welcome Offer
$100 Statement Credit Welcome Bonus.
Annual Fee
$0
Purchase APR
20.75%
Cash Adv. APR
22.49%
Welcome Bonus
~$100
RateBuddy Verdict
The Good
- Includes a unique 2% cash back category for business essentials like Shipping and Insurance services.
- No annual fee for the primary cardholder and up to 9 authorized users, making it highly scalable for small teams.
- Strong 3% earn rate on restaurants and Costco gas helps offset common business travel and dining expenses.
The Trade-offs
- Rewards are only accessible once a year in January via a Costco gift certificate, which may impact business cash flow flexibility.
- Requires a Costco membership to apply, which carries its own separate annual cost.
- Lacks essential travel medical and car rental insurance coverage, despite being a business-oriented card.
Rewards & Earnings
Dining & Takeout 3.00%
Gas & Transit 3.00%
Travel 2.00%
Base Rate 1.00%
Rewards Summary: Costco Gas & Restaurants: 3% cash back; Costco Business Centre, Shipping & Insurance: 2% cash back; Other Gas & Costco.ca: 2% cash back; Base Earn: 1% cash back.
- Costco Gas & Restaurants: 3.0%
- Costcobusinesscentre.ca, Costco.ca, Shipping & Insurance: 2.0%
- Other Gas & EV Charging: 2.0%
- All Other Business Purchases: 1.0%
Welcome Bonus Details
Earn a $100 statement credit when you spend $3,000 or more within the first 120 days of account opening.
Estimated Value: $100.00
Features & Benefits
No Annual Fee
No annual fee (Requires Costco Membership)
Mobile Device Insurance
Up to $1,000 coverage included
Extended Warranty Insurance
Included
Purchase Security Insurance
Included
Additional Perks
- :
- :
- :
- :
- :
Insurance Coverage
Mobile Device: $1,000; Purchase Security: 90 days; Extended Warranty: +1 Year; Note: Does not include Travel Medical, Trip Cancellation, or Car Rental insurance.
Rates & Fees Details
| Purchase APR | 20.75% |
|---|---|
| Cash Advance APR | 22.49% |
| Annual Fee | $0 |
| Income Required |
Personal: $15,000 |