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Best PC Financial Credit Cards 2023

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We all know President’s Choice for their groceries and household products but, PC Financial is making waves across Canada with its lucrative points system and credit cards with no annual fees.

President’s Choice is no stranger to rewarding your everyday purchases, and its Mastercards puts your Optimum points into overdrive. So, if you’re already collecting, you’ll have a hard time finding a better competitor.

In this PC Financial credit cards review, we’ll dive deep into the various cards PC offers and see if they’re really worth it.

PC Mastercard

PC Mastercard

Rated 3.7/5 stars.

  • 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 an 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 PC Optimum 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 you’ll earn 10 points per litre at Esso and Mobil gas stations and 15 points per dollar at Shoppers Drug Mart. No matter how you slice it, these rewards are even more attractive with no annual fee.

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 the PC World Mastercard

If you’re looking to earn PC Optimum points even faster, you can opt for the PC Financial World Mastercard. Their higher-level 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 a household income of $100,000.

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 the PC World Elite Mastercard

The 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 (30 points per $1). 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 earning rate 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 Mastercard, 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 Optimum Loyalty Program

When you get a PC Financial Mastercard, PC World Mastercard, or PC World Elite Mastercard, you’ll automatically open a PC Optimum account. Unlike a PC Optimum card, where you can just earn points at PC stores, you’ll be able to earn PC points with every purchase you make using your PC credit card(s).

How to earn PC Optimum Points

With PC Mastercards, 1 PC optimum point equals 0.1 cents. The table below shows how many points you can earn for each dollar spent.

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 at any participating stores. Redeem 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. Whether you’re shopping for groceries, cosmetics, household products, or clothing for the family, you’ll have tons of options to spend your points on.

Benefits and insurance for the PC Financial Mastercard 

Most credit card companies offer some sort of insurance along with their credit cards. PC Financial offers just the basic coverage with the PC Financial Mastercard (like purchase assurance and free extended warranty). The card also includes the Mastercard global service, which offers cardholders benefits like help with a lost or stolen card, and replacing their Mastercard in an emergency. So, if you’re looking for some added benefits, you’ll have to dig deeper into the higher-tier cards.

The PC World Mastercard offers a few more benefits, including concierge services and medical assistance. The concierge services include help with the luxuries of travel, such as booking theatre, sporting, and entertainment events, booking a limousine or car rental service, or other festivals and shows.

The PC Financial World Elite Mastercard is where you’ll find most of your benefits. However, it’s not loaded with some of the valuable features you might get from a rewards card with an annual fee of $100+. That said, it has a few handy benefits and perks worth mentioning.

If you’re a regular jet setter, 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 car rental, the PC World Elite card offers up to 31 consecutive days of collision/loss damage insurance for rentals.

Unfortunately, if your trip gets cancelled or interrupted, you’re on your own. It also offers identity theft assistance for free expert advice to prevent cardholders from experiencing fraud or identity theft. The PC World Elite does not offer any additional travel insurance beyond its basic emergency and car rental insurance.

Approval criteria for a PC Financial Mastercard

Like any credit card, the first step is getting approved. 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 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 mobile app

Let’s face it: most people are banking online these days. And since PC Financial offers few brick-and-mortar locations, you’re going to want to make sure its 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 online or with the PC mobile app.

PC Financial Mastercard Pros & Cons


  • Earn PC Optimum Rewards: While all PC Mastercards help you collect and cash PC Optimum points, a PC Financial credit card will give you even more savings if you’re a regular shopper at these places.

  • No annual fee: Any PC Mastercard you choose, whether from the lowest tier up to the PC World Elite Mastercard, has no annual fee. Not only will you be redeeming hundreds in points, but you also won’t be losing your hard-earned cash just to have the card.

  • PC Financial app: Sure, a mobile banking app is standard fare these days, but we 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%. If you’re known to miss a credit card payment or two, this may not be the best card for you.

  • High income requirements for premium cards: The lowest tier PC Mastercard has no income requirements, but the PC World Mastercard and PC World Elite card do, putting them beyond the reach of average-earning Canadians.

  • Redemption only in affiliated stores: While you will earn a good cash back rate on your card, you may only redeem those rewards at Loblaw-owned stores.

  • No other perks/benefits: PC Financial cards don’t come with many other perks or benefits the way other credit card companies do. These added bonuses from other providers can be very valuable.

Our final thoughts on a PC Financial Mastercard

If you’re looking for a solid no-fee starter rewards credit card with easy qualifications, the President’s Choice 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 PC falls a little short of its competitors when compared to grocery returns and added perks, we think the free groceries and 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, then a PC Mastercard probably isn’t the right card for you.

Similar Cards:

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

Rated 3.7/5 stars.

Frequently Asked Questions

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