I’ve got the Costco Mastercard and it looks pretty comparable. Phone/ purchase protection, travel insurance, etc… Costco is 2-3% on some purchases and 1% on everything else, though you can only spend the cash back at Costco. Maybe if I took the time to pick between each I could average an extra 1/2%. More choice is always good though and this helps squeeze other issuers to get more competitive.
I think it’s easier to qualify for the Costco card though than the no fees for the WealthSimple one.
You said it yourself. The Costco card has different reward percentages depending on what you buy and where. The benefit of this new card is the complete lack of categories. It’s just 2% across the board on all purchases at any store. When I shop at Costco I’d effectively be getting 4% cash back. 2% on this credit card and 2% because I have the executive membership.
Isn’t the WealthSimple card a Visa though? Costco only takes Mastercard so you wouldn’t be using it there. Costco card is 3% on Costco gas and restaurants, 2% on other gas and Costco.ca. For me that’s a big part of my spending.
Now if someone doesn’t do Costco then the WealthSimple card is probably a better option than lots of other cards. Particularly if they qualify for not paying the monthly fee.
I’ve got the Costco Mastercard and it looks pretty comparable. Phone/ purchase protection, travel insurance, etc… Costco is 2-3% on some purchases and 1% on everything else, though you can only spend the cash back at Costco. Maybe if I took the time to pick between each I could average an extra 1/2%. More choice is always good though and this helps squeeze other issuers to get more competitive.
I think it’s easier to qualify for the Costco card though than the no fees for the WealthSimple one.
You said it yourself. The Costco card has different reward percentages depending on what you buy and where. The benefit of this new card is the complete lack of categories. It’s just 2% across the board on all purchases at any store. When I shop at Costco I’d effectively be getting 4% cash back. 2% on this credit card and 2% because I have the executive membership.
Isn’t the WealthSimple card a Visa though? Costco only takes Mastercard so you wouldn’t be using it there. Costco card is 3% on Costco gas and restaurants, 2% on other gas and Costco.ca. For me that’s a big part of my spending.
Now if someone doesn’t do Costco then the WealthSimple card is probably a better option than lots of other cards. Particularly if they qualify for not paying the monthly fee.
You’re absolutely right. I totally forgot about Costco only accepting Mastercard and debit.