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First I heard Capital One is pulling out of Canada. AFAIK, it is only the Costco Canada contract it is vacating. I've never been fond of Affinity cards anyway and never had the Costco one. I use only cashback cards.
 

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First I heard Capital One is pulling out of Canada. AFAIK, it is only the Costco Canada contract it is vacating. I've never been fond of Affinity cards anyway and never had the Costco one. I use only cashback cards.
They started earlier leaving Hudson's Bay... it was only a matter of time once their agreement with Costco ended. https://ca.style.yahoo.com/capital-one-canada-offices-partnerships-221047369.html
Maybe they're just keeping Capital One branded credit cards, but I can't imagine that's a big market. Seems more like Chase when they ended their partnership with Amazon.ca and left Canada.

The Costco one was a free cashback card. Handy if you buy from Costco or buy their gas since it just requires the one tap and doubles as your membership card. Cashback for restaurants was 3% and for gas 2% which isn't bad. Outside of Costco, I just used it for restaurants.
 

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News to me. Does this mean the our C1 Aspire World Elite card will be toast. Or will it be grandfathered? Just paid the renewal fee.

We also have their Costco card. Very convenient for buying gas at Costco locations.

This is a PITA. Same issue when Chase pulled out and our Marriott Visa card went south. Fortunately the no fee Home Trust was launched with a no fee FX benefit.
 

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First I heard Capital One is pulling out of Canada. AFAIK, it is only the Costco Canada contract it is vacating. I've never been fond of Affinity cards anyway and never had the Costco one. I use only cashback cards.
Agreed that I haven't heard that Capital One is leaving Canada versus re-juggling what their Canadian portfolio.

I'm not sure why the comment about "only cashback cards" as the Capital One Costco Card is a cashback card.

Cheers
 

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I know little about the Capital One Costco card (and I may be wrong) but as I understand it, the card's cash back had to be used at Costco. If so, I never wanted it.

I want a cashback card where I can use the cash to reduce balance owing on the card itself. My current Aspire World cash card does that. I tend to stick with a card forever (or until it goes off the rails). I have never been interested in optimizing my cards or shopping habits. My oldest card is a CIBC Dividend Visa that I have had for 48 years now. It is not an affinity card aligned with anything.
 

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Discussion Starter · #11 ·
I know little about the Capital One Costco card (and I may be wrong) but as I understand it, the card's cash back had to be used at Costco. If so, I never wanted it.

I want a cashback card where I can use the cash to reduce balance owing on the card itself. My current Aspire World cash card does that. I tend to stick with a card forever (or until it goes off the rails). I have never been interested in optimizing my cards or shopping habits. My oldest card is a CIBC Dividend Visa that I have had for 48 years now. It is not an affinity card aligned with anything.
Sure, if you shop at Costco, it makes sense, but of course you need a Costco membership to have the card. Basically you get a "cheque" to cash in at Costco. Any change is given back as cash.

My oldest card is the same, but it's been relegated to on-line usage with low credit limit, mainly because my other cards have higher returns.
 

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I think the benefits of the Capital One MC were similar to the Amex card they used to have.
I'd be suprised if the benefits changed.

It's a bit of an awkward cashback card, but it has good rates, no fees, and I shop at Costco enough for it not to make a difference.
 

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It just means you need to cash the cheque at Costco not that you have to spend the money there.
I already get a paper cheque to cash every year at Costco but it has nothing to do with a credit card. I assume from the above posts the credit card cash back is in addition to the patronage refund. Regardless, I am not the least bit interested in affinity cards and I've derailed the thread enough.
 

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We use our no fee Home Trust Visa card at Costco US locations. HT does not charge the usual 2.5- 3 % fee for FX transactions.
We use the Home Trust card too. However, not sure if this trick still works but in the past you could use a Costco gift card from Canada at Costco warehouses in the US with pretty close to mid-market conversion rates and no forex fee.

I also had a similar experience with Starbucks app with pre-loaded funds and a good exchange rate. It even worked for me at some international locations in Asia in the past but I think they broke the tighter financial ties with stores in some countries so it doesn't work as broadly now internationally, if at all, other than the US.
 

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