Working hard in the background...
Walmart Rewards™ Mastercard® vs CIBC Costco Mastercard: Which one is better?
Walmart Rewards™ Mastercard®
1.7
CIBC Costco Mastercard
2.8
Rewards Breakdown
Annual Rewards
$242.9
First Year Bonus Value
$45
Annual Fee
$0
First Year Value
$287.9
$242.9 in years after
Based on $2,000/mo average spending. Calculate your rewards.
Rewards Breakdown
Annual Rewards
$347.33
First Year Bonus Value
$0
Annual Fee
$0
First Year Value
$347.33
Based on $2,000/mo average spending. Calculate your rewards.
Insurance Included
Purchase Protection
90 days
Insurance Included
Purchase Protection
Up to 90 days
Mobile Device Insurance
$1000
Extended Warranty
Up to a year
Extra Benefits
N/A
Extra Benefits
N/A
Interest Rates
Purchase:
20.89% - 26.99%
Cash Advance:
22.97% - 27.99%
Interest Rates
Purchase:
20.75%
Cash Advance:
22.49%
Balance Transfer:
22.49%
Annual Fee
$0
Annual Fee
$0
Income Required
Min Personal Income:
N/A
Min Household Income:
N/A
Income Required
Min Personal Income:
$15,000
Min Household Income:
N/A
Welcome Bonus
$45 on Approval
Welcome Bonus
N/A
Rewards Rate
- 1.25% cashback on Walmart store and Walmart.ca purchases
- 1% cashback on all credit card purchases.
Rewards Rate
- 3% cash back on Restaurants
- 3% cash back on Costco Gas stations and 2% cash back on non-Costco Gas up to a combined maximum of $5,000 in spending (max $150 cashback per year)
- 2% cash back on Costco.ca purchases up to $8,000 in spending (max $160 cashback per year)
- 1% on everything else
Is this card worth it?
The Walmart Rewards Mastercard is ideal for frequent Walmart shoppers who want to spread out payments on larger purchases without paying much interest. It offers 1.25 Walmart Reward Dollars for every dollar spent at Walmart stores and the ability to pay in installments. Additionally, you can earn up to $45 in Walmart Reward Dollars when you sign up. However, the rewards can only be redeemed at Walmart, and the card lacks additional benefits or insurance coverage beyond purchase assurance and extended warranty.
Is this card worth it?
The CIBC Costco Mastercard offers one of the highest cashback rates on restaurant purchases in Canada, making it an excellent choice for optimizing rewards in this specific category, especially since it has no annual fees. If you use Costco Gas or shop on Costco Online, there is a decent cashback rate as well. However, for other categories, the cashback rate is average. Notably, you will be better off using other credit cards for warehouse Costco purchases, as you will only earn 1% cashback. If you are looking for no annual fee credit cards only, this is a good card to go for.
Pros
- Installment Payments: Allows you to pay for Walmart purchases in installments over six months.
- Walmart Rewards: Earn 1.25 Walmart Reward Dollars for every dollar spent at Walmart stores.
- Sign-Up Bonus: Get up to $45 in Walmart Reward Dollars when you sign up.
Pros
- Decent reward rate for a no annual fee credit card
- One of the highest cashback rates for restaurant purchases in Canada
- Has Mobile insurance
Cons
- Limited Redemption: Rewards can only be redeemed at Walmart and Walmart.ca.
- Lower Rewards: Offers lower rewards compared to other store and cashback credit cards.
- Minimal Benefits: No additional benefits or insurance coverage aside from purchase assurance and extended warranty.
Cons
- Doesn't come with a lot of benefits
- Doesn't earn much on Costco Warehouse purchases!
vs American Express Cobalt® Card
vs Rogers Red Mastercard®
vs Scotiabank Gold American Express® Card
vs Rogers Red World Elite® Mastercard®
vs RBC ION+ Visa
vs Simplii Financial™ Cash Back Visa* Card
vs American Express® Green Card
vs PC World Elite Mastercard
vs Scotia Momentum® Visa Infinite* Card
vs SimplyCash™ Preferred Card from American Express
vs Amazon.ca Rewards Mastercard®
vs Tangerine Money-Back Credit Card
vs BMO CashBack® World Elite® Mastercard®
vs CIBC Aeroplan® Visa Infinite* Card
vs Scotia Momentum® Visa* Card
vs SimplyCash® Card from American Express