The best PC Financial credit cards in Canada for 2024
October 23, 2024
Explore the best variety of PC Financial credit cards, tailored to meet your unique needs. Compare, choose, and apply today for a card that matches your purchasing habits.
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Compare Canada’s best PC Financial credit cards
PC Financial credit card overview
PC Financial offers three credit cards: the PC Mastercard, PC World Mastercard and the PC World Elite Mastercard. The best part is that all cards have no annual fee but you can still earn while you shop!
PC Financial credit card comparison
Credit card |
Rewards |
Income required |
| PC World Elite | 4.5% at Shoppers 3.0% at Loblaws groceries 3.0% at Esso/Mobil 1.0% everywhere else |
$80k personal $150k household |
|---|---|---|
| PC World | 3.5% at Shoppers 2.0% at Loblaws groceries 3.0% at Esso/Mobil 1.0% everywhere else |
$60k personal $100k household |
| PC Mastercard | 2.5% at Shoppers 3.0% at Esso/Mobil 1.0% everywhere else |
None specified |
PC credit cards earn PC Optimum Points on every dollar spent — including on purchases outside of PC’s network of affiliate stores — and let you collect rewards up to three times faster than a PC Optimum loyalty card alone. Since 1998, trillions of points have been earned across Canada, with billions of dollars’ worth of free products awarded.
These credit cards are an excellent choice for consumers who shop where President’s Choice products are sold — including Loblaws, No Frills, Real Canadian Superstore, and more — as well as stores and gas stations such as Shoppers Drug Mart, Joe Fresh, Esso and Mobil.
PC Financial credit card tiers
PC Financial’s credit cards are tiered to match cardholders’ eligibility, and all offer the same standard purchase interest rate of 21.99%.
The entry-level PC Mastercard features benefits such as purchase protections and warranty extensions for many products. PC Optimum points are earned with every purchase.
The mid-tier PC World Mastercard includes all the same benefits with an added 24/7 concierge service — for dining, concerts and events, as well as medical and emergency assistance — and collects PC Optimum points at an accelerated rate.
The top-tier PC World Elite Mastercard also adds travel medical insurance, car rental insurance and a service that protects cardholders from identity theft. This credit card collects the most points of all.
How PC Optimum points
- 10,000 PC Points = $10, which works out to 10 Points = $0.01 (or 1%)
- PC Optimum points must be redeemed at retailers affiliated with President's Choice, most notable of which include Loblaws, No Frills, Shoppers Drug Mart, Valu-mart, Real Canadian Superstore, and more
- Depending on which PC credit card you get approved for, you'll earn between 45-10 PC Optimum points per dollar
With 10,000 PC Optimum points, shoppers receive $10 off purchases at participating retailers, minus taxes and fees. In effect, 10 PC Optimum Points can be thought of as 1% cash back. PC points must be redeemed in increments of at least 10,000 and cardholders can track their rewards online or through an app. PC Optimum points never expire, however your account can close if inactive for two years.
There are few restrictions on earning and redeeming points, including the purchase of tobacco products, lottery tickets, gift and phone cards, transit tickets and passes, and post office transactions. For prescriptions, medications and other pharmacy products, laws vary by province. Shoppers should check their local pharmacy for applicable regulations.
Redeeming PC Optimum points
Joining the PC Optimum rewards program means access to a large retail network across the country — as well as their online counterparts — covering groceries, fashion, beauty, health and other retail products.
Points can be redeemed at more than 2,500 locations, including:
- Loblaws
- No Frills
- Shoppers Drug Mart
- Real Canadian Superstore
- Zehrs
- Valu-Mart
- Fortinos
- Wholesale Club
- Participating independent grocers and regional counterparts such as Maxi, Pharmaprix, Provigo and Atlantic Superstore.
Online shoppers can also visit BeautyBoutique.ca, JoeFresh.ca and the PC Express website.
PC Optimum personalized offers
If PC Optimum members activate an online account or download the app, the PC Optimum rewards program will send personalized offers to each user based on their own unique spending habits. These offers are updated weekly and, to ensure great deals aren’t missed, users can choose to receive email notifications.
Offers typically expire in one week — but some can be saved and extended — and users can create a shopping list of favourite deals to peruse in-store.
PC Optimum points from personalized offers are bonus rewards; shoppers still earn their usual rate with their PC Financial credit card, and simply add these points on top.
More on PC Financial
Since 1998, President's Choice Financial has been offering unique financial services from Loblaw Companies Ltd. PC Financial serves 3 million customers and provides service online and over the phone.
PC World Elite Mastercard
based on spending $2,200/mo after $0 annual fee
- Earn rewards
10pts – 45pts / dollar spent
- Welcome bonus
20,000 points (a $20 value)
- Annual fee
$0
Perks of the PC® World Elite Mastercard®
| Perks | Details | |
|---|---|---|
| Lounge access | Not included | You’ll gain complimentary passes to airport lounges. The number of passes and lounges you have access to will vary. |
| Waived foreign transaction fees | Not included | A surcharge that credit card holders pay for purchases made in a foreign currency (typically 2.5%). |
| Travel accident insurance | Not included | If you suffer a loss as a result of an accidental bodily injury sustained while occupying a common carrier, you are eligible for this coverage. |
| Travel emergency medical | For trips up to 10 days from date of departure, for those under age 65. | If you require urgent medical care while on a trip outside of your home province, you will be covered for any eligible medical expenses incurred. |
| Car rental insurance | Collision damage and theft protection for your car rental needs. | Credit card rental car insurance usually covers theft, loss and damage to your rental car in the case of an accidental collision. |
| Trip cancellation | Not included | If you have to cancel your trip before it’s even started, your prepaid travel costs will be covered up to a maximum amount if the cause of cancellation is eligible for the insurance. |
| Trip interruption | Not included | If your trip has to be cut short or is delayed after the scheduled departure date, you will be covered up to a maximum amount for an eligible cause of interruption or delay. |
| Flight delay insurance | Not included | If your flight departure is delayed by a certain number of hours, you’ll be reimbursed a certain amount for necessary and reasonable expenses. |
| Baggage loss insurance | Not included | If your checked bag cannot be located by a common carrier, you’ll be reimbursed for a portion of the replacement cost of lost personal property. |
| Baggage delay insurance | Not included | If your checked bag is not delivered within a specified time upon your arrival, you’ll be reimbursed for the cost to replace essential items. |
| Hotel/motel burglary | Not included | Provides protection, while you’re checked in, for your personal belongings when left unattended in your room up to a certain dollar amount. |
| Mobile insurance | Not included | Reimburses a portion of your cell phone in the event it’s damaged or lost. Device coverage is limited to a certain period of time after purchasing with your credit card. |
| Purchase assurance | In the event of theft, loss or damage in the first 90 days when you pay in full with your PC Financial Mastercard credit card. | Automatically protects new purchases by insuring them for 90 days from the date of purchase in the event of loss, theft or damage. |
| Extended warranty | Doubles the manufacturer's regular warranty for up to an additional year on items purchased with your PC Financial Mastercard credit card. | Either doubles the length of the item’s manufacturer’s warranty coverage or extends it by 1 year, whichever is less. |
| Price protection | Not included | If, within a certain amount of time of purchasing an item, its price drops or you find an identical item offered for a lower retail price than what you paid, you will be reimbursed for the difference. |
Other perks
- Award-winning, no annual fee rewards credit card
- Get up to $750 in PC Optimum™ points every year (for illustrative purposes only; results may vary.)
- Earn at least 3 cents per litre in PC Optimum™ points on gas at Esso™ and Mobil™ stations
- Earn 45 PC Optimum™ points per $1 spent at Shoppers Drug Mart® stores
- Earn 30 PC Optimum™ points for every $1 spent at Loblaw affiliated grocery stores
- Earn 30 PC Optimum™ points for every $1 spent at Joe Fresh® stores
- Earn 10 PC Optimum™ points for every $1 spent everywhere else you shop
- No limits on points earning and points don’t expire
- Welcome offer of bonus PC Optimum™ points to kickstart your rewards journey
Ratehub’s take
If you are looking for a credit card that will help you save money on groceries, the PC World Elite Mastercard is a great choice, especially for those who frequently shop at Loblaws-owned stores and Shoppers Drug Mart.
Pros
- No annual fee: For a rewards card, charging no annual fee is a major perk and can help you ramp up your earnings even more
- High return on spending: Your points are valuable at Loblaws-affiliated stores and for gas purchases because of high earn rates on everyday spending
- Points stacking: Stack your points by showing your PC Optimum card at Loblaw-affiliated stores and paying with your PC Financial World Elite Mastercard
- Competitive earn rates: Earn rates are high compared to other no-fee credit cards
- Added travel insurance: Offers travel insurance benefits adding value to cardholders
Cons
- Limited rewards outside of Loblaws: While PC Financial Mastercards offer excellent rewards at Loblaw stores, they do not provide great benefits when shopping anywhere else
- Restrictive redemption rules: Points can only be redeemed in increments of 10,000 (10,000 = $10). Points cannot be used to pay for purchases at non-Loblaws retailers or redeemed against a statement balance. Plenty of other rewards cards on the market offering more flexibility
Eligibility requirements
Minimum credit score: 560
Minimum income: $80,000/yr
Interest rates
Purchase interest: 21.99%
Cash advance: 22.97%
Balance transfer: N/A
The PC World Elite Mastercard tops PC Financial’s offering with the most PC Optimum rewards and deluxe features in security and convenience.
The minimum income required for this card is $80,000 for an individual, or $150,000 in household income. Cardholders may be able to upgrade to the PC World Elite Mastercard if they spend a minimum of $25,000 each year with their account.
Welcome offer - earn an offer of 20,000 bonus PC Optimum™ points to kickstart your rewards journey
PC Optimum points are collected exceptionally fast on each dollar spent:
- 45 points per $1 at Shoppers Drug Mart
- 30 points per $1 at Loblaws banner stores
- 30 points per litre at Esso and Mobil gas stations
- 30 points per $1 at PC Travel
- 10 points per $1 on all other purchase
As an example, if you spent an average of $1200 on your PC World Elite Mastercard per month, you'd come away with $332 in PC Optimum points you can redeem at Shoppers Drug Mart or any Loblaws-banner grocery stores, Esso/Mobil gas stations, and JoeFresh locations.
The PC World Elite Mastercard also comes with a number of additional benefits. Cardholders will gain access to Mastercard Global Service, which provides 24/7 emergency assistance virtually anywhere in the world when you're reporting a lost or stolen card, need an emergency card replacement or cash advance, or simply require help finding the nearest ATM or getting questions answered about your account. You'll also get purchase assurance and extended warranty protection as well as travel emergency medical insurance, car rental collision/loss damage waiver insurance, and identity theft assistance.
PC World Mastercard
based on spending $2,200/mo after $0 annual fee
- Earn rewards
10pts – 35pts / dollar spent
- Welcome bonus
20,000 points (a $20 value)
- Annual fee
$0
Perks of the PC® World Mastercard®
| Perks | Details | |
|---|---|---|
| Lounge access | Not included | You’ll gain complimentary passes to airport lounges. The number of passes and lounges you have access to will vary. |
| Waived foreign transaction fees | Not included | A surcharge that credit card holders pay for purchases made in a foreign currency (typically 2.5%). |
| Travel accident insurance | Not included | If you suffer a loss as a result of an accidental bodily injury sustained while occupying a common carrier, you are eligible for this coverage. |
| Travel emergency medical | Not included | If you require urgent medical care while on a trip outside of your home province, you will be covered for any eligible medical expenses incurred. |
| Car rental insurance | Not included | Credit card rental car insurance usually covers theft, loss and damage to your rental car in the case of an accidental collision. |
| Trip cancellation | Not included | If you have to cancel your trip before it’s even started, your prepaid travel costs will be covered up to a maximum amount if the cause of cancellation is eligible for the insurance. |
| Trip interruption | Not included | If your trip has to be cut short or is delayed after the scheduled departure date, you will be covered up to a maximum amount for an eligible cause of interruption or delay. |
| Flight delay insurance | Not included | If your flight departure is delayed by a certain number of hours, you’ll be reimbursed a certain amount for necessary and reasonable expenses. |
| Baggage loss insurance | Not included | If your checked bag cannot be located by a common carrier, you’ll be reimbursed for a portion of the replacement cost of lost personal property. |
| Baggage delay insurance | Not included | If your checked bag is not delivered within a specified time upon your arrival, you’ll be reimbursed for the cost to replace essential items. |
| Hotel/motel burglary | Not included | Provides protection, while you’re checked in, for your personal belongings when left unattended in your room up to a certain dollar amount. |
| Mobile insurance | Not included | Reimburses a portion of your cell phone in the event it’s damaged or lost. Device coverage is limited to a certain period of time after purchasing with your credit card. |
| Purchase assurance | In the event of theft, loss or damage in the first 90 days when you pay in full with your PC Financial Mastercard credit card. | Automatically protects new purchases by insuring them for 90 days from the date of purchase in the event of loss, theft or damage. |
| Extended warranty | Doubles the manufacturer's regular warranty for up to an additional year on items purchased with your PC Financial Mastercard credit card. | Either doubles the length of the item’s manufacturer’s warranty coverage or extends it by 1 year, whichever is less. |
| Price protection | Not included | If, within a certain amount of time of purchasing an item, its price drops or you find an identical item offered for a lower retail price than what you paid, you will be reimbursed for the difference. |
Other perks
- Award-winning, no annual fee rewards credit card
- Earn at least 3 cents per litre in PC Optimum™ points on gas at Esso™ and Mobil™ stations
- Earn 35 PC Optimum™ points per $1 spent at Shoppers Drug Mart® stores
- Earn 20 PC Optimum™ points for every $1 spent at Loblaw affiliated grocery stores
- Earn 10 PC Optimum™ points for every $1 spent everywhere you else shop
- No limits on points earning and points don’t expire
- Welcome offer of 20,000 bonus PC Optimum™ points to kickstart your rewards journey
Ratehub’s take
If you are looking for a credit card that rewards your grocery and drugstore purchases, the PC World Mastercard is a great choice, especially if you frequently shop at Loblaws-owned stores like Superstore and Shoppers Drug Mart.
Pros
- No annual fee: With no annual fee, the rewards you earn are all yours
- Abundant earning opportunities: Loblaw is one of Canada’s largest retailers, so there’s no shortage of opportunities to earn and redeem points
- Points stacking: Stack your points by showing your PC Optimum card at Loblaw-affiliated stores and paying with your PC Financial World Elite Mastercard
- Competitive earn rates: Earn rates are high compared to other no-fee credit cards
- Purchase assurance: Your purchases are covered for theft, loss or damage in the first 90 days. Plus, you’ll get an extended warranty
Cons
- Limited rewards outside of Loblaws: While PC Financial Mastercards offer excellent rewards at Loblaw stores, they do not provide great benefits when shopping anywhere else
- Restrictive redemption rules: Points can only be redeemed in increments of 10,000 (10,000 = $10). Points cannot be used to pay for purchases at non-Loblaws retailers or redeemed against a statement balance
Eligibility requirements
Minimum credit score: 560
Minimum income: $50,000/yr
Interest rates
Purchase interest: 21.99%
Cash advance: 22.97%
Balance transfer: N/A
The PC World Mastercard is a more accessible credit card that still offers an accelerated rate of collecting points and distinguished services.
The minimum income required is $60,000 for an individual, or $100,000 in household income. Cardholders may be able to upgrade to the PC World Mastercard if they spend a minimum of $15,000 each year.
PC Optimum points are earned in the following accelerated structure:
- 35 points per $1 at Shoppers Drug Mart
- 20 points per $1 at Loblaws banner stores
- 30 points per litre at Esso and Mobil gas stations
- 20 points per $1 at PC Travel
- 10 points per $1 on all other purchases
Premium services include 24/7 concierge service — which offers assistance for travel, entertainment, business, shopping and medical arrangements — in addition to services available with the PC Mastercard.
PC Mastercard
Best for PC Points
based on spending $2,200/mo after $0 annual fee
- Earn rewards
10pts – 30pts / dollar spent
- Welcome bonus
20,000 points (a $20 value)
- Annual fee
$0
Perks of the PC® Mastercard®
| Perks | Details | |
|---|---|---|
| Lounge access | Not included | You’ll gain complimentary passes to airport lounges. The number of passes and lounges you have access to will vary. |
| Waived foreign transaction fees | Not included | A surcharge that credit card holders pay for purchases made in a foreign currency (typically 2.5%). |
| Travel accident insurance | Not included | If you suffer a loss as a result of an accidental bodily injury sustained while occupying a common carrier, you are eligible for this coverage. |
| Travel emergency medical | Not included | If you require urgent medical care while on a trip outside of your home province, you will be covered for any eligible medical expenses incurred. |
| Car rental insurance | Not included | Credit card rental car insurance usually covers theft, loss and damage to your rental car in the case of an accidental collision. |
| Trip cancellation | Not included | If you have to cancel your trip before it’s even started, your prepaid travel costs will be covered up to a maximum amount if the cause of cancellation is eligible for the insurance. |
| Trip interruption | Not included | If your trip has to be cut short or is delayed after the scheduled departure date, you will be covered up to a maximum amount for an eligible cause of interruption or delay. |
| Flight delay insurance | Not included | If your flight departure is delayed by a certain number of hours, you’ll be reimbursed a certain amount for necessary and reasonable expenses. |
| Baggage loss insurance | Not included | If your checked bag cannot be located by a common carrier, you’ll be reimbursed for a portion of the replacement cost of lost personal property. |
| Baggage delay insurance | Not included | If your checked bag is not delivered within a specified time upon your arrival, you’ll be reimbursed for the cost to replace essential items. |
| Hotel/motel burglary | Not included | Provides protection, while you’re checked in, for your personal belongings when left unattended in your room up to a certain dollar amount. |
| Mobile insurance | Not included | Reimburses a portion of your cell phone in the event it’s damaged or lost. Device coverage is limited to a certain period of time after purchasing with your credit card. |
| Purchase assurance | In the event of theft, loss or damage in the first 90 days when you pay in full with your PC Financial Mastercard credit card. | Automatically protects new purchases by insuring them for 90 days from the date of purchase in the event of loss, theft or damage. |
| Extended warranty | Doubles the manufacturer's regular warranty for up to an additional year on items purchased with your PC Financial Mastercard credit card. | Either doubles the length of the item’s manufacturer’s warranty coverage or extends it by 1 year, whichever is less. |
| Price protection | Not included | If, within a certain amount of time of purchasing an item, its price drops or you find an identical item offered for a lower retail price than what you paid, you will be reimbursed for the difference. |
Other perks
- Mastercard Global Service™
- Award-winning, no annual fee credit card
- Earn at least 3 cents per litre in PC Optimum™ points on gas at Esso™ and Mobil™ stations
- Earn at least 30 points per litre on gas at at Esso™ and Mobil™ stations
- Earn 25 PC Optimum™ points per $1 spent at Shoppers Drug Mart® stores
- Earn 10 PC Optimum™ points for every $1 spent everywhere you shop
- No limits on points earning and points don’t expire
- Welcome offer of 20,000 bonus PC Optimum™ points to kickstart your rewards journey
Ratehub’s take
The PC Mastercard is a great option if you want to earn rewards on one of the most common expenses – groceries. Especially if you frequently shop at affiliated stores like Loblaws, No Frills or Shoppers Drug Mart.
Pros:
- Accessible to all: No annual fee and no income requirements, making it accessible to a wider range of customers
- Abundant earning opportunities: Loblaw is one of Canada’s largest retailers, so there’s no shortage of opportunities to earn and redeem points
- Unlimited points earnings: Your Optimum points earnings isn’t limited to monthly or annual amounts like with other cards
Cons:
- Redemptions are restricted: You can’t redeem your points for things like statement credits, you are limited to redeeming for gas or groceries at affiliated stores
Eligibility requirements
Minimum credit score: 560
Minimum income: N/A
Interest rates
Purchase interest: 21.99%
Cash advance: 22.97%
Balance transfer: N/A
The PC Mastercard is open to anyone, subject to credit approval, and collects PC Optimum points on every dollar spent — no matter where.
There is no minimum individual or household income required for the PC Mastercard.
Points are collected significantly faster than a PC Optimum loyalty card alone:
- 25 points per $1 at Shoppers Drug Mart
- 30 points per litre at Esso and Mobil gas stations
- 20 points per $1 at PC Travel
- 10 points per $1 on all other purchases
Security and convenience features include global service; free purchase assurance for theft, loss or damage of most new items; and warranty extensions, which doubles a manufacturer’s warranty on many products.
For a deeper look into their pros and cons, read our full PC Mastercard review.
Natasha Macmillan, Business Director of Everyday Banking
With over a decade of experience in the finance industry, Natasha works closely with Canada's top financial institutions - from banks to credit unions - to help Ratehub.ca's 1,200,000 monthly users get matched with the right banking products. read full bio
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- Price Protection Insurance
- Extended Warranty Insurance