Terms and Conditions

¹ For the CIBC Costco Mastercard, earn 3% on purchases (less returns) at merchants classified in the credit card network as Costco gas stations within Canada and 2% on purchases (less returns) at merchants classified in the credit card network as gas merchants and electric vehicle charging with a merchant category code of MCC 5552 on the first $5,000 net annual card purchases in this category on your account. After that, net card purchases at all gas merchants, including Costco, and electric vehicle charging with a merchant category code of MCC 5552 will earn 1% in Cash Back Rewards. Earn 2% on purchases (less returns) classified in the credit card network as Costco.ca purchases on the first $8,000 net annual card purchases in this category on your account. After that, net card purchases at Costco.ca will earn 1% in Cash Back Rewards. Purchases at merchants classified in the credit card network as restaurants will earn 3% and all other qualifying purchases will earn 1% in Cash Back Rewards. The $5,000 and $8,000 limit will reset to zero annually on January 1. Cash Back Rewards will be provided in the form of a Cash Back Gift Certificate issued in Canadian dollars to an eligible Primary Cardholder once per calendar year in January for the cash back earned in the prior calendar year. The Cash Back Gift Certificate can be redeemed for purchases at any Canadian Costco Wholesale warehouse location. Authorized Users on the Account are not issued and cannot redeem Cash Back Gift Certificates. For the full Rewards Program terms and conditions, please see the Benefits Guide (PDF, 1.2 MB).

² For the CIBC Costco Business Mastercard, earn 3% on purchases (less returns) at merchants classified in the credit card network as restaurants on the first $8,000 net annual card purchases in this category on your account. After that, net card purchases at all restaurants, will earn 1% in Cash Back Rewards. Earn 3% on purchases (less returns) at merchants classified in the credit card network as Costco gas stations within Canada and 2% on purchases (less returns) at merchants classified in the credit card network as gas merchant and electric vehicle charging with a merchant category code of MCC 5552 on the first $8,000 net annual card purchases in this category on your account. After that, net card purchases at all gas merchants, including Costco, and electric vehicle charging with a merchant category code of MCC 5552 will earn 1% in Cash Back Rewards. Earn 2% on purchases (less returns) classified in the credit card network as Costco.ca and Costcobusinesscentre.ca purchases on the first $8,000 net annual card purchases in this category on your account. After that, net card purchases at Costco.ca and Costcobusinesscentre.ca will earn 1% in Cash Back Rewards. Earn 2% on purchases (less returns) classified in the credit card network as shipping and professional services (this refers to eligible insurance premiums, deductibles and claim amounts) on the first $8,000 net annual card purchases in this category on your account. After that, net card purchases at merchants classified in the credit card network as shipping and professional services, will earn 1% in Cash Back Rewards. The $8,000 limits will reset to zero annually on January 1. Cash Back Rewards will be provided in the form of a Cash Back Gift Certificate issued in Canadian dollars to an eligible Primary Cardholder once per calendar year in January for the cash back earned in the prior calendar year. The Cash Back Gift Certificate can be redeemed for purchases at any Canadian Costco Wholesale warehouse location. Authorized Users on the Account are not issued and cannot redeem Cash Back Gift Certificates. For the full Rewards Program terms and conditions, please see the Benefits Guide (PDF, 795 KB).

³ To apply for a CIBC Costco Mastercard you must be a Costco member with a valid Costco membership. This applies to the Primary Cardholder and any Authorized Users. Authorized Users must have a valid Costco membership prior to being added to the account.

⁴ Interest rates will change from time to time on at least 30 days prior notice to the Primary Cardholder. “Purchase” means card purchases less returns and does not include: cash advances, interest, fees, balance transfers, payments, or CIBC Convenience Cheques. “Cash” means cash advances, balance transfers and CIBC Convenience Cheques.

⁵ Cash advances do not earn cash back. Cash advances bear interest from the date they are taken from your credit card account and are subject to available credit and available cash.

⁶ Your CIBC Costco credit card account must be in Good Standing on Dec. 31 and the Primary Cardholder’s Costco membership must also be active on Dec. 31 to be eligible to receive a Cash Back Gift Certificate for rewards earned in that year. For the full Rewards Program terms and conditions, please see the CIBC Costco Mastercard Benefits Guide (PDF, 1.2 MB) or the CIBC Costco Business Mastercard Benefits Guide (PDF, 795 KB).

⁷ CIBC Pace It Installment Plans allow eligible cardholders to convert eligible card transaction(s) to monthly installment payments (including interest) over a fixed period of time. When you create an Installment Plan you will have the ability to choose the payment term (in months) with a corresponding annual interest rate. Once you accept the Installment Plan Terms and Conditions and the installment plan is created, you can cancel it at any time but you cannot change it. CIBC Pace It Installment Plans are only available: (a) on Accounts in good standing; and (b) for certain eligible Accounts and eligible Transactions. For complete Terms and Conditions, visit cibc.com/paceit.

⁸ Insurance coverage(s) included with CIBC credit cards are underwritten by Royal & Sun Alliance Insurance Company of Canada. You may contact the insurer at 1-866-363-3338 in Canada and the U.S. or collect from elsewhere at 905-403-3338 or visit cibccentre.rsagroup.ca. Different cards will have different coverage(s). To learn about which coverage(s) are included with a specific card, and important information regarding coverage eligibility requirements, benefits, limitations and exclusions, refer to the insurance certificate(s) in your card package or visit cibc.com/ca/credit-card/agreements-insurance.html. Some insurance coverage(s) require purchase(s) and other costs to be charged to the card to activate coverage. Other conditions may also apply. Certain coverages are “excess insurance” (all other sources of insurance and recovery must be exhausted before coverage is available).

⁹ Authorized Users must have a valid Costco membership prior to being added to the CIBC Costco Business Mastercard account.

¹⁰ If an application for a CIBC Costco Business Card is submitted and approved, the Primary Cardholder will receive a $100 statement credit when $3,000 in net purchases are posted to the new credit card account within 120 days from the account open date. The following do not qualify as purchases for this offer: cash advances, interest, fees, balance transfers, payments or CIBC Convenience Cheques. Please allow up to 6 to 8 weeks after the final qualifying purchase has been posted to your new credit card account to receive the $100 statement credit. Your new credit card account must be open, and in Good Standing at the time the statement credit is awarded and your Costco membership must be active. The Welcome Bonus is available only for newly opened CIBC Costco Business Mastercard accounts. Limit one Welcome Bonus per account. The Welcome Bonus is not transferable and is not redeemable for cash. This offer may be revoked if you appear to be manipulating or abusing it or are engaged in any suspicious or fraudulent activity, as determined by CIBC’s sole discretion.

COSTCO and COSTCO WHOLESALE are trademarks owned by Price Costco International Inc. and are used under licence.

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