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Deciding between the CIBC Costco Mastercard and Amazon.ca Rewards Mastercard doesn’t have to be hard.

Both are rewards credit cards that earn cash back.
The Costco card earns cash back on a wider variety of spending categories, but the Amazon card has a higher earn rate for its spending categories.
The Amazon card has a sign-up bonus, whereas the Costco card doesn’t.
Points earned with the Costco card can only be redeemed once a year, whereas points earned with the Amazon card can be redeemed as soon as you hit the required threshold.

Here’s a side-by-side look at the details that matter most, so you can make a decision quickly and confidently.

Costco card vs. Amazon card

CIBC Costco® Mastercard®

Annual Fee

$0
Interest Rates

19.75% / 21.49%

19.75% for purchases, 21.49% for cash advances.
Rewards Rate

1%-3%

3% at restaurants and at Costco gas, 2% at other gas stations and at Costco.ca, and 1% on all other purchases including at Costco.
Intro Offer

N/A

Why we like it

This card is ideal for Costco members with its cash back program that rewards everyday spending with cash back rewards that can be redeemed at Costco.

Pros

Can serve as your Costco membership card.
Payment plans available for purchases of $100 or more.

Cons

Must have an existing Costco Wholesale membership to be eligible.
Cash back gift certificates are only issued once annually.

3% cash back at restaurants and at Costco gas.
2% cash back at other gas stations and at Costco.ca.
1% cash back on all other purchases, including at Costco.
No annual fee.
Pay for purchases of $100 or more with CIBC Pace It low-rate Installment Plans, spreading payments over a fixed term. Take advantage of special Installment Plan interest rates with no installment fees on eligible Costco purchases in Canada and at Costco.ca.
Make quick and secure payments using Apple Pay®, Google Pay™ and Samsung Pay® when you add your new card to your mobile wallet.
Redeem your annual cash back gift certificate at any Canadian Costco warehouse.
Get 0.25% cash back for every $1 spent on a CIBC Global Money Transfer™. There are no transaction fees, and interest won’t be charged, as long as the balance is paid by the payment due date.
Preferred rates: 19.75% for purchases, 21.49% for cash advances.
To be eligible, you must have a Canadian credit file and be a Canadian resident of the age of majority in the province or territory where you live. You must also have a valid Costco Wholesale membership.

Amazon.ca Rewards Mastercard®

Annual Fee

$0
Interest Rates

19.99% / 22.99%

19.99% for purchases, 22.99% for cash advances.
Rewards Rate

1%-5%

5% intro offer. 2.5% on Amazon.ca and Whole Foods Market store purchases for Prime members (1.5% for non-Prime members). 1% on eligible foreign currency transactions and everywhere else Mastercard is accepted.
Intro Offer

Up to $215

Get up to a $65 Amazon.ca Gift Card instantly upon approval. Plus earn 5% back on your first $3,000 in eligible purchases at Amazon.ca, Whole Foods Market stores, grocery stores, and restaurants.

Why we like it

Ideal for Amazon shoppers with 2.5% back on all eligible Amazon.ca and Whole Foods purchases. Plus, Amazon Prime members get 2.5% back on eligible foreign currency transactions.

Pros

No annual fee.
Apply rewards to eligible Amazon.ca purchases.

Cons

Amazon Prime membership required for higher earn rate.

Get up to a $65 Amazon.ca Gift Card instantly upon approval.
Plus earn 5% back on your first $3,000 in eligible purchases at Amazon.ca, Whole Foods Market stores, grocery stores, and restaurants.
Earn rewards on eligible purchases at Amazon.ca — including Whole Foods Market stores in Canada.
After the welcome offer ends, eligible Prime members get 2.5% back on eligible purchases at Amazon.ca and Whole Foods Market stores.
Eligible Prime members always get 2.5% back on eligible foreign currency transactions to help cover foreign transaction fees.
After the welcome offer ends, non-Prime members get 1.5% back on eligible purchases at Amazon.ca and Whole Foods Market stores. Always get 1% back on eligible foreign currency transactions to help cover foreign transaction fees.
Receive 1% back on eligible purchases everywhere else Mastercard is accepted.
Rewards can be redeemed at Amazon.ca and applied directly to eligible Amazon.ca items.
No annual credit card fee.
The MBNA Payment Plan can make it more convenient to pay for large purchases and manage a budget. Pay for eligible credit card purchases of $100 or over by making monthly payments. Choose from three Payment Plan terms: 6, 12 or 18 months. Conditions and fees apply.
Preferred rates: 19.99% for purchases, 22.99% for cash advances.
To be eligible, you must have a Canadian credit file and be a Canadian resident of the age of majority in the province or territory where you live.

The Amazon Rewards Mastercard earns cash-back rewards on everyday spending and doesn’t charge an annual fee. If you frequently shop at Amazon.ca or Whole Foods Market stores, this card could help you earn gift cards to use on future purchases.

The CIBC Costco Mastercard earns cash-back rewards on everyday spending and doesn’t charge an annual fee. If you shop at Costco regularly, this card could help you earn a gift certificates that can be used for future purchases.

The CIBC Costco Mastercard earns 1%-3% cash back on eligible purchases, offers payment plans for purchases of $100 or more, and can serve as your Costco membership card.

The Amazon.ca Rewards Mastercard features a welcome offer upon approval, earns 1%-5% cash back on eligible purchases, may have special benefits for eligible Prime Members, and offers payment plans for purchases over $100.

Yes, though the Amazon Rewards Mastercard is technically a store credit card, it can be used to make purchases anywhere Mastercard is accepted.

Amazon.ca doesn’t publicly disclose the minimum credit score requirements for the Rewards Mastercard, but many rewards cards that earn cash back required scores in the good to excellent range.

To be eligible for a CIBC Costco Mastercard, you must have a Canadian credit file, be a Canadian resident and be the age of majority in the province or territory where you live. You must also have a valid Costco Wholesale membership.