The best PC Financial credit cards in Canada for 2023

PC Financial credit card overview

PC Financial offers three credit cards: the PC Financial Mastercard, PC Financial World Mastercard and the PC Financial World Elite Mastercard. All cards have no annual fee.

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.

PC Financial’s credit cards are tiered to match cardholders’ eligibility, and all offer the same standard purchase interest rate of 19.97%.

The entry-level PC Financial 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 Financial 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 Financial 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.

PC Financial credit cards are an excellent choice for consumers that 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 Optimum quick facts

• 10,000 PC Points = $10 - which works out to 10 Points = $0.01 (or 1%)
• PC 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

This credit card 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 Financial World Elite Mastercard if they spend a minimum of $25,000 each year with their account.

Welcome offer - earn 20,000 PC Optimum points ($20 value).

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 Financial 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 Financial 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.

The PC Financial 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 Financial 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 Financial Mastercard.

This credit card 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 Financial 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 Financial Mastercard review.

PC Optimum points value

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.

Consumers can use the rewards calculator on the PC Financial website to estimate their monthly budgets - groceries, gas, health and beauty shopping, PC travel and all other purchases — for a quick look at the PC Optimum points they can earn with each credit card. This figure can reach hundreds of dollars in free products each year.

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
• Shoppers Drug Mart
• 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.