Costco Capital One MasterCard Review

Costco Capital One MasterCard Review

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Costco Canada has it’s own Capital One MasterCard. The question is, should you, as a Costco member have this card? And yes, I believe you should. However, my reasoning may surprise you in my Costco Capital One MasterCard Review.

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Costco Capital Mastercard Review

Costco Capital One MasterCard Benefits

  • No annual fee – Generally speaking, unless you’re spending over $50,000 a year, “no fee cash back” cards like this one, provide great value.
  • 3% cash back on restaurant purchases – Pretty good. However, the Simpli Visa card gives 4% cash back on restaurant purchases.
  • 2% cash back on all gasoline purchases – That’s right, 2% cash back, even at non-Costco stations.
  • Up to 1% cash back on all other purchases – Quite frankly, this is the least impressive benefit. First of all, your first $2,5000 in annual purchases is only .5%. After that, it becomes 1%. There are other annual no fee cash back cards that offer a higher %. For example, my Rogers World Elite MasterCard gives me 1.75% on any purchase.

If you would like to learn more about my favourite credit cards, check out my Best Canadian Credit Cards post here. 

Costco Gas Pump

My Recommendation

OK, so after all of that, why do I think you should have this card? Because it makes buying Costco gas, super fast and super easy!

Costco almost always has the best posted gas prices and with this card you’ll get 2% on top of that.  In addition, you’re already at Costco, so it’s not like you are going out of your way to buy gas. Finally, the kicker…. The card is tied to your membership and supports the “Tap & Go” feature. In other words, by simply waving the card over the pump, the purchase process is automatic.

Perhaps this doesn’t sound like a big deal. Compare it to the regular procedure using a different card. First, insert a payment card into the reader. Then enter your PIN. Remove the card. Now enter in your Costco Member number. Wait some more. Now you can start. Of course that’s assuming you haven’t had a mis-step and have to restart the process all over again.

Your Honor, I rest my case!

My Cash Back Coupon Reward

Yeah, I know you’re probably jealous by the extremely large amount! OK…. maybe not…. 😉 As I mentioned earlier, I only use the Capital One card for gas, and nothing else. Secondly, I drive a small car, and I don’t drive a lot. Still, $20 is $20! That’s 13.3 Costco Hot Dogs! 😉 I’m rich!

Thank you for reading my Costco Capital One MasterCard review. If you like my blog, please don’t hesitate to donate a few bucks using the link at the top. Any donation is greatly appreciated! If you can’t do that, please share any of my blog posts with your friends or other Costco Facebook groups. Feel free to explore my other Costco Reviews by clicking here. You can also join my Costco Money Saving Tips and Reviews Face here. Thanks!


  1. That is great info, sadly I’m no where near a Costo or a place where they accept credit cards. I am currently hiking through Italy since it is in a lock down. I’m trying to head to a remote WHO facility in southern Italy. There is an orphanage there that is in dire need of supplies. I offered to carry all the supplies there on foot. since everyone else is so busy fighting the outbreak. It’s the least I could do in this time of crisis. I am making great time, since I’m technically the record holder for the 3 minute mile. But I asked the IAAF to not count my record breaking run time so that others would have a chance. They were reluctant at first, but I insisted that I would deny any account of records made my me. So eventually they relented. I was never in it for fame. Was more of a personal challenge, I break it again anyways so it would have been discouraging for upcoming runners to see all the top spots dominated by me for who knows how long. Anyways, another great post.

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