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PC Mastercard Review 2023

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When it comes to choosing a credit card, the options seem endless. With every company offering some type of points system, money-back or low-interest payments, it’s easy to feel like you’ll be missing out if you don’t make the right decision. We all know President’s Choice for their groceries and household products but, PC Financial is making waves across Canada with their lucrative points system and no annual fees. President’s Choice is no stranger to rewarding your everyday purchases, and their Mastercard puts your Optimum points into overdrive. So, if you’re already collecting, you’ll have a hard time finding a better competitor. But are they really the best option? In this PC Mastercard review, we’ll dive deep into the credit card that have everyone talking to see what it’s all about and if it’s really worth it.

PC Mastercard

PC Mastercard

Rated 3.7/5 stars.

Our Review

  • Welcome Offer Up to 20,000 points
  • Annual Fee $0
  • Interest Rates Purchases: 20.97%, Cash Advances: 22.97%
  • Recommended Credit 660 - 724
PC Financial Mastercard PC World Mastercard PC World Elite Mastercard
Income Requirement $0 $60,000 Personal Income; $100,000 Household Income $80,000 Personal Income; $150,000 Household Income
Annual Fees $0 $0 $0
Welcome Bonus 20,000 PC Optimum Points ($20) on the first purchase above $50 20,000 PC Optimum Points ($20) on the first purchase above $50 20,000 PC Optimum Points ($20) on the first purchase above $50
Interest Rates Purchase: 20.97% Cash Advance: $22.97% Balance Transfer: 22.97% Purchase: 20.97% Cash Advance: $22.97% Balance Transfer: 22.97% Purchase: 20.97% Cash Advance: $22.97% Balance Transfer: 22.97%
Purchase security & Warranty Free Free Free
Additional Cards for family Free (up to 4) Free (up to 4) Free (up to 4)

PC Financial Mastercard Review

The PC Financial Mastercard is a no-fee, rewards credit card offering substantial PC Optimum points. which can be redeemed for items purchased at PC-affiliated stores including Loblaws, No Frills, Real Canadian Superstore, Shoppers Drug Mart, Esso, PC Travel, PC Mobile as well as your independent grocer. This makes it the ideal student credit card for those looking to put rewards towards groceries and other essential items.

Pairing flexibility and ease with the potential for great savings on everyday purchases, the PC Financial Mastercard might just be the right card for you. While it doesn’t offer much in the way of perks, the PC Financial Mastercard will set you up with some solid rewards and the potential for a more premium card (and greater rewards) in the future. When you shop using your PC Financial Mastercard, you’ll earn points for every dollar you spend, not just at PC-affiliated stores. We’ve done the math for you, and it works out to about 1% in points. Not to mention the 10 points per litre you’ll earn on gas from Esso and Mobil stations, or how about the 15 points per dollar at Shoppers Drug Mart. No matter how you slice it, these rewards are even more attractive with no annual fees.

The interest rates on your PC Financial Mastercard will be:

  • Purchase: 20.97%
  • Cash Advance: $22.97%
  • Balance Transfer: 22.97%

Now, that’s assuming you’re paying your minimum payments on time. If you’re unable to meet your payments for two consecutive months, your interest rates will skyrocket to:

  • Purchase: 25.97%
  • Cash Advance: $27.97%
  • Balance Transfer: 27.97%

About PC World Mastercard

If you’re looking to earn PC Optimum points even faster, you can opt for the PC Financial World Mastercard. Their second-tier card offers many of the same perks, including no annual fee, with some added bonuses. As a World Mastercard holder, you’ll earn 20 points per dollar shopping at Loblaws stores or Loblaw affiliates. The only downside is you’ll need to earn a personal income of at least $60,000 to qualify for this credit card. Alternatively, couples can qualify based on $100,000 household income. The PC World Mastercard is a slight step up from its entry-level counterpart, and with a 2% cashback rate on grocery purchases at Loblaws stores, it’s definitely worth taking a look at.

About PC World Elite Mastercard

PC Financial World Elite Mastercard is one of Canada’s few World Elite Mastercards without an annual fee. PC Financial’s highest tier card gives you a 3% return rate. So, if you’re regularly stocking up at Loblaw’s grocery stores, filling your tank at Esso gas stations, or frequenting Shoppers Drug Mart, this is a great fit. With the best earn rates among all three PC Financial credit cards, it’s easy to see why it had the highest customer recommendation score in Forrester’s 2020 Canada CX Index Survey. Like the PC World card, the income requirements are high when you opt for the World Elite credit card. You need to earn a minimum of $80,000 per year or $150,000 minimum household income to qualify. This card is likely the best option for high-income singles or couples who plan on making the majority of their grocery hauls at a Loblaw banner grocery store.

PC Mastercard PC World Mastercard PC World Elite Mastercard
PC Grocery Store 10 pts/$1 20 pts/$1 30 pts/$1
Shoppers Drug Mart 15 pts/$1 35 pts/$1 45 pts/$1
Esso Mobil 30pts/litre 30pts/litre 30pts/litre
PC Travel 20pts/$1 20pts/$1 23pts/$1
Everywhere Else 10pts/$1 10pts/$1 10pts/$1

Where to redeem PC Optimum Points

As soon as you have 10,000 PC Optimum points, you can redeem up to $10 worth of free stuff at any of their participating stores. That’s right – free. Cash out your points at any Loblaw or affiliate store (No Frills, Esso, etc.), Shoppers Drug Mart, or head online to Beautyboutique.ca, JoeFresh.ca and PC Express websites. Groceries, cosmetics, household products, or clothing for the family, you’ll have tons of options to spend your points on.

PC Financial Mastercard Benefits

Like many other entry-level no-fee cards, the PC Financial Mastercard offers just the basic frills (like purchase assurance and free extended warranty). So, if you’re looking for some added benefits, you’ll have to dig deeper into the higher-tier cards. New cardholders can take advantage of a 0.97% promotional balance transfer rate for the first six months with the PC Financial World card.

The PC Financial World Elite isn’t loaded with some of the valuable features you might get from a rewards card with annual fees of $100+ but it has a few handy benefits and perks worth mentioning. If you’re a regular jetsetter, you can get up to 10 consecutive days of Travel Emergency Medical Insurance per trip for cardholders under the age of 65. And if you need a rental, the PC World Elite card offers up to 31 consecutive days of Collision/Loss Damage Waiver Insurance for car rentals. Unfortunately, if your trip gets cancelled or interrupted, you’re on your own. The PC World Elite does not offer any additional travel insurance beyond its basic emergency and car rental coverage.

PC Financial Mastercard Aproval Criteria

Like any credit card, the first step is getting approved, and for a PC Financial Mastercard, there are some requirements you’ll have to meet. There are three things to keep in mind:

  1. Your age and residency
  2. Your credit score
  3. Your personal or household income

It’s pretty standard stuff when applying for a credit card, but you do have to be the age of majority and a resident of Canada. Things get a bit stickier when it comes to your credit score and income. While you don’t need to meet any minimum income requirements for the lowest-tier card, you will still need good credit to be approved. If you’re opting for the PC World Mastercard or the PC World Elite Mastercard, the requirements are even higher. You’ll also need to make sure you’re meeting those requirements before applying for the top-tier cards, as every time you apply, your credit score takes a hit.

PC Financial App

Let’s face it; most people are banking online. And since PC Financial offers few brick-and-mortar locations, you’re going to want to make sure their mobile app works for you and all your credit card needs. Like most banks and credit card issuers, PC Financial makes it easy to access your PC Optimum points, balance, e-statements, and lock or replace your credit card if it’s stolen. You’ll be able to manage your money anywhere, with their tried and true online or mobile app.

PC Financial Mastercard Pros & Cons


  • PC Optimum Rewards: While all PC Mastercards help you collect and cash PC Optimum points, if you’re already a regular shopper at these places, then a PC Financial credit card will give you savings of up to a 3% return.
  • No Annual Fee: Any PC Financial Mastercard you choose from, whether it’s their lowest tier up to their PC World Elite Mastercard, requires no annual fee. Not only will you be redeeming hundreds in points, you won’t be losing your hard-earned cash to a high annual fee.
  • PC Financial App:: While we don’t think a mobile app offers a huge competitive edge as most credit card providers offer one, we do think its functionality is noteworthy.


  • Higher Than Average Interest Rates: : Interest rates on the PC Financial Mastercard range between 20.97% to 22.97%. But if you miss your minimum payment, it can go up to 27.97%.
  • High-Income Requirements for Premium Cards: Like we’ve said, the lowest tier PC Mastercard has no income requirements, but the PC World Mastercard and PC World Elite card put these credit cards beyond the reach of average Canadians.
  • Redemption Only in Affiliated Stores: While you will earn a good “cashback” on your card, you may only redeem it at Loblaws owned stores.
  • No Other Perks/Benefits: PC Mastercard does not include any other perks or benefits like most competitors. These added bonuses from other providers can be extremely valuable.

Our Final Thoughts

If you’re looking for a solid no-fee starter rewards card with easy qualifications, the PC Financial Mastercard should be your first choice. With a flexible points program and easy redemption process, a PC Financial Mastercard can boost your savings. While they fall a little short of their competitors when compared to grocery returns and added perks, we think the big rewards points you get on gas and from Shoppers Drug Mart will make it worth your while. But if you make about 50% or more of your grocery purchases outside the Loblaw network, this probably isn’t the right card for you.

Similar Cards:

The Canadian trie Triangle Mastercard offers similar benefits for those who frequently shop at Canadian Tire and affiliated stores.

Canadian Tire Triangle Mastercard

Canadian Tire Triangle Mastercard

Rated 4.6/5 stars.

Our Review

  • Welcome Offer $0
  • Annual Fee $0
  • Interest Rates Purchases: 19.99%, Cash Advances: 22.99%
  • Recommended Credit 660+

Frequently Asked Questions