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- Our Bottom Line on The Capital One Costco Mastercard
- What’s Great About This Card
- What’s Not So Great
- How It Compares
- Unlimited Earn Potential
- How Do You Apply?
- Who Should Get This Credit Card?
The card’s lack of annual fee, high cashback rate on restaurants and gas, and relationship with Costco do make it shine. But other cashback and rewards cards offer better earn rates and more flexible redemption. And with the Capital One / Costco partnership ending in 2021, it may not make much sense to take on this card now. Update: CIBC will be th...
Good cashback rates
For a card with no annual fee, the cashback rates are pretty stellar. With a Capital One Costco Mastercard, you’ll earn 3% on all restaurant purchases, 2% on gas, and 0.5% everywhere else. The 0.5% base rate isn’t on par with most cashback cards, though after you spend $3,000 in any given year, the rate bumps up to 1%.
Unlimited earn potential
Unlike some cashback cards with high earn rates, the Capital One Costco Mastercard has no cap on the amount you can earn.
No annual fee
You’ll pay nothing to take out a Costco Mastercard. The only “fee” you’ll pay is the annual cost of your Costco membership. Without a Costco membership, you won’t be able to apply for this credit card.
A low base earn rate
The card has a generous earn rate for restaurants and gas. But the flat rate is, well, flat. You’ll earn 0.5% on all non-category purchases up to $3,000. Once you spend $3,000, your flat rate will jump to 1%, though even 1% isn’t something to get excited over. Most cashback and rewards cardsoffer 1% as the opening rate, with some offering 2%.
No extra rewards for Costco purchases
Perhaps the biggest shortcoming with this card is the lack of extra cashback for purchases made at Costco. Most co-branded and retailer credit cards offer at least a percentile higher than the base rate for purchases made in-store.
No welcome bonus
Another disappointment is the lack of a sign-up bonus. Amassing a large number of points, miles, or cashback is often one of the most exciting parts of opening a new credit card. If that’s something you want, you won’t find it with a Capital One Costco Mastercard.
With no annual fee — aside from the Costco membership fee — it’s hard to beat the 3% cashback on restaurant purchases and 2% back on gas. If you spend a large amount in those spending categories, having a Capital One Costco Mastercard in your wallet can help you earn some serious cashback. The carddoeshave a few major limitations, however. For one,...
Unlike other cashback cards, the Capital One Costco Mastercard has unlimited earnings potential. And, with a 3% rate on dining out, along with 2% on gas, that can translate into some major earnings for the average Canadian. Since you know the partnership will end, one thing you can do is use this card in conjunction with others. For example, you ma...
To apply for the Capital One Costco Mastercard, you first need a Costco membership number. If you already have a Costco membership, applying is simple. You can fill out an application online, or you can apply for your card in a Costco store. Once you fill out the application, Capital One will let you know if you’re approved (usually instantly). At ...
The Capital One Costco Mastercard is a great fit for Costco members who spend a great deal of money at gas stations and restaurants. In addition, if you want your credit card points to go toward Costco purchases, the once-per-year rebate will give you a lump sum to spend at Costco warehouses. Finally, if you’re already a Costco member, this card co...
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.
Jun 20, 2024 · The Capital One Venture X card is the best credit card you can use to earn top-shelf rewards at Costco and Costo.com. Currently, the card earns as many as 10x Capital One miles on purchases : 10x miles on hotels and rental cars booked via Capital One Travel
Sep 6, 2018 · The Capital One Costco Platinum Mastercard is a strong no annual fee cash back credit card that is geared towards Costco members who eat at restaurants regularly and spend a significant amount each month on fuel.
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related to: capital one costcoCompare Capital One Credit Cards, Banking Services, Business Services & More. See if You're Pre-Approved—Find Cards You're Eligible for With No Impact to Your Score.
Use Anywhere Visa Is Accepted. Plus, No Annual Fee With Your Paid Costco Membership. Start Earning Big With Cash Back Rewards! Apply For The Costco Anywhere® Visa.
