CIBC Costco Business Mastercard

Overview

The CIBC Costco Business Mastercard is a co-branded cashback card issued by CIBC on the Mastercard network, designed for Costco Business Centre members and small business owners who shop at Costco Business Centre locations. Like its personal counterpart, it earns cash back across restaurants, gas, and business purchases with no annual card fee. It is the only credit card accepted at Costco Business Centre locations and on Costco.ca, making it a practical necessity for businesses that purchase supplies or inventory through Costco's commercial channel. A valid Costco Business Centre membership is required.

Availability note (April 2026): This card is available for new applications and is accessible to businesses with a valid Costco Business Centre membership. The card functions as the business's Costco membership card.

Who this card is for

This card is for Canadian small business owners and business operators who regularly purchase supplies, inventory, or operating materials through Costco Business Centre. Restaurants, food service businesses, offices, and retailers that use Costco commercially will find the most value here — the 3% cashback on restaurant spending stacks with the card's ability to purchase at Business Centre bulk pricing. There's no stated annual income requirement for the business version, making it broadly accessible to incorporated businesses and sole proprietors alike.

Key benefits

The earn structure gives 3% cashback on restaurant purchases and at Costco gas stations (each on the first $8,000 CAD in annual net card purchases in that category), 2% cashback at Costco Business Centre, Costco.ca, on shipping, on insurance services, at other gas stations, and at EV charging stations, and 1% cashback on all other purchases. After each $8,000 CAD category threshold is reached, those purchases drop to 1% for the remainder of the year.

Cashback is paid out annually as a cashback cheque, redeemable at Costco Business Centre locations for merchandise, services, or cash via customer service. Mastercard network acceptance is broad outside Costco, making this a practical card for vendor payments and everyday business expenses where Costco isn't the merchant. Purchase security and extended warranty protection are included on eligible business purchases.

Potential drawbacks

The $8,000 CAD annual restaurant cap means that once exceeded, the headline 3% rate drops to 1% for the remainder of the year — businesses in the food service industry or those with significant entertainment expenses should track that threshold. The annual lump-sum cashback distribution model doesn't suit all businesses; some prefer monthly credit or statement application. For business expenses outside Costco-adjacent categories, the 1% general rate is not competitive against dedicated business cashback or rewards cards.

How it compares

The CIBC Aventura Visa for Business offers travel rewards on business purchases at $120 CAD annually, which may suit businesses whose principals travel frequently and value airline-agnostic redemptions over cashback. The CIBC Business Aeroplan Visa earns Aeroplan points for $180 CAD annually, better suited to businesses flying Air Canada regularly. For businesses not tied to Costco, an unbranded business cashback card may offer more flexible earning without the membership dependency.

Bottom line

A practical no-card-fee cashback tool for Costco Business Centre members — particularly strong for food service businesses that make restaurant purchases frequently and benefit from the 3% earn rate. The real value is concentrated in businesses that already need the Costco Business Centre membership.