PC Mastercard Review 2022

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.

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.

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.

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.

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.

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.