Costco sells just about everything in bulk at good prices. But they're picky about how you can pay.
If you're planning a Costco run, you should know which cards they take (and which they don't). They have some unusual payment rules that catch many shoppers off guard.
This guide covers what you can use to pay at Canadian Costco warehouses and why they only accept certain cards.
» Looking to purchase from Amazon instead? Learn about all the credit cards and payment methods Amazon accepts.
What Costco Canada Accepts
In Warehouses:
Mastercard (the only credit card they take)
Any Canadian debit card
Cash
Costco Shop Cards
Mobile payments (Apple Pay, Google Pay, Samsung Pay) linked to a Mastercard
At Gas Stations:
Mastercard
Any Canadian debit card
Costco Shop Cards
No cash (all stations are self-serve)
On Costco.ca:
Mastercard
Visa (online only)
Visa Debit and Debit Mastercard
Costco Shop Cards
Online Credit Coupons
Why Only Mastercard?
Costco has an exclusive deal with Mastercard that helps keep their fees low. Before 2014, they partnered with American Express.
No Mastercard? No Problem
You can still shop at Costco by:
Using cash at warehouses
Paying with your debit card
Getting a Costco Shop Card (works like a gift card, $50-$2,000)
Signing up for a KOHO Prepaid Mastercard (Up to 2% cash back on groceries)
Shopping online with Visa
Other Payment Options
Cheques: Personal cheques accepted with ID. Business members can set up business cheque payments.
Apple Pay: Works in stores and online, but not at gas stations.
Online Credit Coupons: One-time use only on Costco.ca, can't be used in stores or exchanged for cash.
Paying Over Time at Costco
Looking to spread out payments on a big Costco purchase? Your only option is the CIBC Costco Mastercard with its CIBC Pace It feature.
How CIBC Pace It Works
With CIBC Pace It, you can split purchases over $100 into monthly payments. Choose how long you want to pay:
6 months (5.99% interest)
12 months (6.99% interest)
24 months (7.99% interest)
These rates are special for Costco purchases and lower than the card's regular rates (which would be 6.99%, 7.99%, and 8.99%).
The best part? Costco purchases don't get hit with the 2% setup fee that normally applies to Pace It plans.
Costco doesn't offer any other in-store financing options.
How to Shop at Costco
For Non-Members
You can shop at Costco without a membership by using a Costco Shop Card (their version of a gift card). Someone with a membership needs to buy and load it for you first.
Getting Your Own Membership
It's pretty simple to join:
Be at least 16 years old
Choose your membership level:
Gold Star: $65/year (basic)
Executive: $130/year (includes 2% cash back rewards)
Provide your name, address, birthdate, phone and email
Pay the fee
Family Members
Each membership comes with an extra card for someone 16 or older who lives at your address.