Costco Canada’s New Capital One Platinum MasterCard

October 2nd, 2014 · 3 Comments

I’ve got a follow up to my post from last Wednesday.  In that post I wrote about the big change hitting Costco Canada as they switch from American Express to Capital One MasterCard.  Luckily, I have some of the best readers in the world and one of them was nice enough to send me a copy of the flyer for the new Capital One MasterCard so that I can share it with everyone here.  You download the flyer as a PDF (or view it in the Google PDF viewer)download the flyer or view it as a PDF so that you can get all of the details.

New Capital One Platinum MasterCard for Costco Canada

New Capital One Platinum MasterCard for Costco Canada

The new Capital One Platinum MasterCard is available exclusively to Costco members in Canada and offers much the same reward structure as the TrueEarnings American Express card.  You will be able to earn 3% cash back at restaurants, 2% on gas, and 0.5% on the first $3,000 you spend annually on all other purchases, and 1% after that.  Plus, for the first three months you’ll be able to earn double cash back.  There’s no annual fee for the card itself, but it will act as your Costco membership card as well, so your annual membership fee will be charged to the credit card, same as with the American Express card.  Once a year in January you will get your cash back as a rebate coupon you can use to shop at Costco.

The double cash back for the first three months that your card is open is really great, but this promotion does have a few limits though.  You will earn 6% cash back at restaurants and 4% at gas stations on all your purchases, up to a combined total spend of $1,500 for both during the three-month promotional period.  And you will also earn 1% cash back on the first $3,000 you spend on all other purchases annually, and 2% after that. You’ll earn at these rates up to a total spend of $8,500 during the three-month promotional period.

New Capital One Platinum MasterCard for Costco Canada

New Capital One Platinum MasterCard for Costco Canada

As with pretty much every credit card now, there are a lot of benefits associated with the Capital One Platinum MasterCard too.  Perhaps the best benefits are the 60 day price protection and the extended warranty for items purchased with your card.  And it is always nice to know that you will have zero liability if your card is lost or stolen and there are unauthorized charges.  And if you do lose your card, MasterCard provides emergency card replacement and emergency cash advance.  There are also some good travel benefits, including an allowance of up to $100.00 per day if your baggage is lost or delayed for more than four hours so that you can buy clothes and other essentials.

You can find out all of  the details, interest rate information, and benefits of the new Capital One Platinum MasterCard online where you can apply for your new card.  Alternatively, you can sign up at your local Costco Canada warehouse.  Either way, you can be all set for the switch from American Express to MasterCard at the start of 2015.


Tags: In the News · services Share

3 Responses so far ↓

  1. 1 Carole // 2014.11.05 at 4:34 pm

    I just attempted to apply for a Capital One Platinum Costco Credit Card. After completing all the questions, I get a response to to directly to the nearest Costco Warehouse and do it there
    because they could not verify me as a current Member. Not bad considering I have been a Costco Member for the past 15 years.

  2. 2 Carol Shaffer // 2014.10.07 at 7:44 am

    I was at a Costco in the Toronto area this past weekend.

    They have already begun to accept MasterCard for payment.

    • 3 Kimberly // 2014.10.07 at 8:23 am

      @Carol – That’s really interesting and good news for many, I imagine. Thanks for sharing!

Leave a Reply

XHTML: You can use these tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

  Notify me when other users comment on this post.