Credit Cards

Which Mastercard for an above-average Costco spender?

  • Last Updated:
  • Aug 27th, 2021 2:14 pm
Tags:
None
[OP]
Newbie
Nov 8, 2017
51 posts
19 upvotes

Which Mastercard for an above-average Costco spender?

After my Capital One World Aspire Cash was downgraded from 1.5% to 1% rewards earlier this year I settled on the MBNA World Elite for the 2 pts per $1. I applied for that card in June but now it appears that it will also be changing to 1 pt per $ (for my Costco shopping), although I have yet to receive any confirmation of this change.

Ideally, I'd be looking for another new card with a decent welcome bonus and a better than 1% rewards/cashback.

So curious for the high spenders at Costco, what card to you use?
17 replies
Sr. Member
User avatar
Mar 28, 2008
522 posts
483 upvotes
Rogers WE MC: 1.5% in unlimited cash back rewards on all eligible regular purchases
Deal Fanatic
Jan 19, 2017
7424 posts
4332 upvotes
smithrfd wrote: After my Capital One World Aspire Cash was downgraded from 1.5% to 1% rewards earlier this year I settled on the MBNA World Elite for the 2 pts per $1. I applied for that card in June but now it appears that it will also be changing to 1 pt per $ (for my Costco shopping), although I have yet to receive any confirmation of this change.

Ideally, I'd be looking for another new card with a decent welcome bonus and a better than 1% rewards/cashback.

So curious for the high spenders at Costco, what card to you use?
Use the MBNA RWE MC to buy prepaid MC from grocery stores. Then use prepaid cards in Costco.
Deal Addict
User avatar
Dec 2, 2002
1690 posts
429 upvotes
HSBC WE 1.5% if used for travel expenses $50 net fee
RBC Westjet WE 1.5% if used for WJ fares $120 fee
Brim WE 2% Cashback $199 fee
Deal Guru
Dec 5, 2006
13041 posts
8285 upvotes
Markham
smithrfd wrote: After my Capital One World Aspire Cash was downgraded from 1.5% to 1% rewards earlier this year I settled on the MBNA World Elite for the 2 pts per $1. I applied for that card in June but now it appears that it will also be changing to 1 pt per $ (for my Costco shopping), although I have yet to receive any confirmation of this change.

Ideally, I'd be looking for another new card with a decent welcome bonus and a better than 1% rewards/cashback.

So curious for the high spenders at Costco, what card to you use?
With the new card partner announcement around the corner, why not just wait a bit. You don't want to apply MasterCard and find out they will only accept visa
Deal Fanatic
User avatar
Sep 7, 2004
7828 posts
4627 upvotes
West GTEH!
ccya965041 wrote: Rogers WE MC: 1.5% in unlimited cash back rewards on all eligible regular purchases
Same here. Rogers WE MC. For now.

Still waiting to see who Costco Canada will Partner with, now that Capital One had separated Business Relations with Costco.
😎
Deal Addict
Dec 7, 2011
3002 posts
1427 upvotes
Whitehorse
I think you could use the Scotia Gold Amex to buy prepaid MC at supermarkets. 5% minus the card fees.
Currently FYF, $100 GCR
Deal Fanatic
Jan 19, 2017
7424 posts
4332 upvotes
sokolov wrote: I think you could use the Scotia Gold Amex to buy prepaid MC at supermarkets. 5% minus the card fees.
Currently FYF, $100 GCR
he already has the MBNA World Elite, which offers the same 5x for grocery.
Deal Fanatic
Jul 26, 2007
6687 posts
4255 upvotes
Toronto
MBNA MC WE was good while it lasted. When annual fees and downgrades didn't make much sense, I cancelled that and went with Rogers MC WE.
Deal Fanatic
Jan 19, 2017
7424 posts
4332 upvotes
peteryorkuca wrote: MBNA MC WE was good while it lasted. When annual fees and downgrades didn't make much sense, I cancelled that and went with Rogers MC WE.
I am on the other side. I didn't have the card before June 24 and applied asap they changed on June 24 because I like the 5x.
Deal Fanatic
User avatar
Jan 4, 2011
5830 posts
7193 upvotes
Montreal
ml88888888 wrote: he already has the MBNA World Elite, which offers the same 5x for grocery.
5x on the MBNA WE is not the same as 5x on the BNS Gold Amex. You can cash out the 5x on the BNS Gold Amex for 5% cashback. You cannot do that with the MBNA WE. At best, you'll get 5% back in gift cards or travel only booked through MBNA's portal. If you consider gift cards and portal-booked travel equivalent to cashback, then I would agree with your statement.
Deal Addict
Feb 4, 2019
2687 posts
4373 upvotes
BC
efrant wrote: 5x on the MBNA WE is not the same as 5x on the BNS Gold Amex. You can cash out the 5x on the BNS Gold Amex for 5% cashback. You cannot do that with the MBNA WE. At best, you'll get 5% back in gift cards or travel only booked through MBNA's portal. If you consider gift cards and portal-booked travel equivalent to cashback, then I would agree with your statement.
Even when redeeming for (close to) 1 cpp in gift cards or travel booked through the MBNA portal, there is an opportunity cost from not being able to use a rewards-earning card for that spend.
Deal Fanatic
Jan 19, 2017
7424 posts
4332 upvotes
efrant wrote: 5x on the MBNA WE is not the same as 5x on the BNS Gold Amex. You can cash out the 5x on the BNS Gold Amex for 5% cashback. You cannot do that with the MBNA WE. At best, you'll get 5% back in gift cards or travel only booked through MBNA's portal. If you consider gift cards and portal-booked travel equivalent to cashback, then I would agree with your statement.
Is the statement credit redemption $100 = 12,500 points for BNS Gold Amex?
Deal Fanatic
User avatar
Jan 4, 2011
5830 posts
7193 upvotes
Montreal
ml88888888 wrote: Is the statement credit redemption $100 = 12,500 points for BNS Gold Amex?
No one mentioned anything about using points as a statement credit. All Scotia Rewards earning cards, Amex MR earning cards, HSBC Rewards earning cards, and TD Rewards earning cards have travel redemptions at higher cpp than using points as statement credits. Given people's travel plans change the points can effectively be cashed out at the higher redemption rate. I've alluded to this before (when someone had a question about redeeming points from the Cobalt card), but you keep referring back to statement credit redemption values of 0.7 cpp for the Cobalt.
Deal Fanatic
Jan 19, 2017
7424 posts
4332 upvotes
efrant wrote: No one mentioned anything about using points as a statement credit. All Scotia Rewards earning cards, Amex MR earning cards, HSBC Rewards earning cards, and TD Rewards earning cards have travel redemptions at higher cpp than using points as statement credits. Given people's travel plans change the points can effectively be cashed out at the higher redemption rate. I've alluded to this before (when someone had a question about redeeming points from the Cobalt card), but you keep referring back to statement credit redemption values of 0.7 cpp for the Cobalt.
Oh, that misleading 'cashed out' trick of booking hotel & cancelling it. Would that trick work if you do that too many times?
Deal Fanatic
User avatar
Jan 4, 2011
5830 posts
7193 upvotes
Montreal
ml88888888 wrote: Oh, that misleading 'cashed out' trick of booking hotel & cancelling it. Would that trick work if you do that too many times?
I have never seen a single DP of it not working. I can't see how it wouldn't because, as I said, people's travel plans change, and even more so in the current environment. And besides, how much do you spend that you would need to cash out more than a few times a year?
Deal Fanatic
Jan 19, 2017
7424 posts
4332 upvotes
efrant wrote: I have never seen a single DP of it not working. I can't see how it wouldn't because, as I said, people's travel plans change, and even more so in the current environment. And besides, how much do you spend that you would need to cash out more than a few times a year?
The cc company could refund the booking cost as points to your cc, instead of cash credit.
Deal Fanatic
User avatar
Jan 4, 2011
5830 posts
7193 upvotes
Montreal
ml88888888 wrote: The cc company could refund the booking cost as points to your cc, instead of cash credit.
It doesn't seem like you understand the process. Only MBNA and BMO do that because you are redeeming your points for the booking. (That's one reason why their rewards programs are not as valuable as others.) With the other banks, you PAY for your booking, and redeem points against that charge, which then shows up as a credit on your credit card. Then, if your travel plans change, and you do decide to cancel your booking, the travel provider refunds you, not the credit card company.

Top

Thread Information

There is currently 1 user viewing this thread. (0 members and 1 guest)