Pretty soon, CIBC and Costco will release their new co-partnered credit card, the CIBC Costco Mastercard. While we don’t know what perks and rewards this new card will have, we do know CIBC wants to “…enhance the rewards program” and “…deliver more value to their members.”
To me, that means one thing: give us extra earnings on Costco purchases.
Right now, the Capital One Costco Mastercard has two bonus earn rates: 3% back on restaurant purchases and 2% on gas. While those aren’t terrible, they don’t make me want to shop at Costco, which is a big miss for the wholesale giant.
So let’s do a thought experiment here. If the CIBC Costco Mastercard earned 2% back on all Costco purchases (the same earn rate as an Executive Gold Star Costco Membership), how much could you earn on Costco’s most expensive products? Let’s take a look.
1. $70 back on a casket
It may sound morbid, but if you’re planning a funeral, Costco will sell you the casket. For a solid mahogany cherry casket, you’d spend $3499.99 — and earn $70 with a 2% earn rate.
2. $68 back on an electric bike
One day we’ll look back at “pedaling” as we do black and white movies. For now, electric bikes are still too costly to be an everyday item. For those who can afford them, you could earn a hypothetical $68 on Costco’s most expensive electric bike (priced at $3,399.99).
3. $258 back on a jacuzzi
Winter’s upon us and the jacuzzis are heating up. For a 90-jet four-person jacuzzi, equipped with exterior LED sconces and Bluetooth-ready subwoofers (priced at $12,899.99), you could earn around $258 back with a 2% rate.
4. $84 on an outdoor play-set
Give the kids what they want for Christmas — a double slide play-set with swings, ropes, a trapeze bar, and 3-D rock climbing. Costco’s Deluxe Play Set would put you back $4,199.99, but with a 2% on the new CIBC Costco Mastercard, you could earn $84 back.
5. $78 on an outdoor BBQ
If you want Costco’s most luxurious outdoor BBQ set, a four-piece kitchen with a built-in sink and stainless steel frames, you’ll pay $3899.99. With a 2% earn rate, you could earn $78 back.
6. $72 on a digital grand piano
Who says you have to get your piano from a music store? Buy a digital grand piano from Costco with Bluetooth connection and polished ebony and you could earn $72 (priced as $3599.99).
7. $100 back on a patio set
For a nine-piece patio set — one equipped with two swivel club chairs and a fire table — you’ll drop a solid $4999.99. If the new CIBC Costco Mastercard has a 2% earn rate, however, you’d earn $100 back.
8. $200 back on a massage chair
What’s better than earning cashback on a massage chair? For Costco’s premium Japanese-made adjustable massage chair, you’ll drop $9999.99. But hey, if the CIBC Costco Mastercard has a 2% earn rate, you’d earn $200 back.
9. $660 back on a 14kt white gold diamond ring
Nothing says “I love you” like a $32,999.99 ring. At that price, you could earn $660 back.
10. $860 back on a 2.51 ct diamond ring
If a $32,999.99 diamond ring doesn’t say “I love you,” may a $42,999.99 will. For a round brilliant diamond ring, you could earn a whopping $860 back, if the CIBC Costco Mastercard comes with a 2% earn rate on Costco purchases.
