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The best store credit cards in Canada for 2023

Natasha-M 1
Natasha Macmillan, Business Unit Director - Everyday Banking

February 20, 2024

Store credit cards help shoppers save in addition to other perks such as extended warranty or purchase protection. If you are a frequent shopper at the retailer, signing up may be worthwhile. Here is our round-up of the best store credit cards in Canada.

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Best Store Credit Cards in Canada

Store credit cards can help shoppers save whether it be on groceries, clothes, or toys in addition to other perks such as exclusive offers, extended warranty, purchase protection, and loyalty points. If you are a frequent shopper at the retailer and can take advantage of the rewards program, signing up may be worthwhile. Here is our round-up of the best store credit cards in Canada!

First year reward
$421/yr

based on spending $2,200/mo after $0 annual fee

Earn rewards

10% – 45% earn rate

Welcome bonus

$20

Annual fee

$0

Ratehub.ca's take

If you are looking for a credit card that will help you save money on groceries, the PC Financial Mastercard is a great choice, especially for those who frequently shop at Loblaws-owned stores and Shoppers Drug Mart. 

Pros

  • Welcome offer - earn 20,000 PC Optimum points
  • No annual fee and no income requirements, making it accessible to a wider range of customers
  • Loblaw is one of Canada’s largest retailers, so there’s no shortage of opportunities to earn and redeem points
  • Stack your points by showing your PC Optimum card at Loblaw-affiliated stores and paying with your PC Financial World Elite Mastercard
  • Earn rates are high compared to other no-fee credit cards
  • Offers travel insurance benefits adding value to cardholders

Cons

  • Can only redeem points in increments of 10,000
  • Points cannot be transferred to other loyalty programs 
  • Very strict redemption rules - 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

Making dollars make sense

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