Feature Partner Offer
1
RBC Cash Back Mastercard
On RBC’s Website
Welcome Bonus
None
Annual Fee
$0
Regular APR
20.99%
3
MBNA True Line Mastercard
On MBNA’s Website
Welcome Bonus
0% interest for 12 months on balance transfers within 90 days of account opening, with a 3% transfer fee
Annual Fee
$0
Regular APR
12.99% – 19.99%
Best PC Financial Credit Cards For March 2024
FEATURED PARTNER OFFER
PC Insiders World Elite
3.7
Our ratings take into account a product's rewards, fees, rates and other category-specific attributes. All ratings are determined solely by our editorial team.
Welcome Bonus
150,000 PC Optimum points ($150 value)
Annual Fee
$120
Regular APR
21.99%
Welcome Bonus
150,000 PC Optimum points ($150 value)
Annual Fee
$120
Regular APR
21.99%
Why We Picked It
The PC Insiders World Elite Mastercard is the only card on this list with a welcome offer— one worth $150. It also earns the most PC Optimum points per dollar of any of the PC Financial cards, earning you 40 PC Optimum points per dollar at Loblaw-owned grocery stores and 50 points per dollar at Shoppers Drug Mart. You’ll also get a bonus of $0.07 per litre when you fuel up at Esso or Mobil stations. That said, it does come with an annual fee and minimal benefits outside the PC Optimum world.
Pros & Cons
- Earn more Optimum points at Loblaw-owned stores and Shoppers Drug Mart
- Earn $0.07 per litre on gas at Esso and Mobil
- Built-in travel emergency medical insurance and car rental collision/loss damage waiver insurance
- Little benefit when spending at grocery stores, drug stores or gas stations outside the Loblaw umbrella
- $120 annual fee
- Not many extra perks or benefits
Card Details
- Welcome bonus of 150,000 PC Optimum points when you spend $3,000 or more within the first four months ($150 value)
- $120 annual fee
- Earn 40 PC Optimum points per dollar at Loblaw-banner grocery stores
- Earn 50 PC Optimum points per dollar at Loblaw-banner grocery stores
- Earn $0.07 per litre on gas at Esso and Mobil stations
- Earn 10 PC Optimum points per dollar on purchases everywhere else
- Get a complimentary PC Express Pass ($99.99 per year) that gives you free grocery delivery and pickup on eligible orders of $35 or more.
- Built-in $1 million travel emergency medical insurance for first 10 days of a trip for those under 65 years old
- Car rental collision/loss damage waiver insurance for up to 31 days
- Purchase assurance and extended warranty
FEATURED PARTNER OFFER
PC World Elite Mastercard
3.7
Our ratings take into account a product's rewards, fees, rates and other category-specific attributes. All ratings are determined solely by our editorial team.
Welcome Bonus
None
Annual Fee
$0
Regular APR
21.99%
Welcome Bonus
None
Annual Fee
$0
Regular APR
21.99%
Why We Picked It
If you want to earn valuable points while shopping for your essentials, like groceries and gas, the PC World Elite Mastercard does just that—and with no annual fee. The PC World Elite Mastercard racks up PC Optimum points while you shop at Loblaw-banner stores (like No Frills, Fortinos, Loblaws, Zehrs and more), as well as at Shoppers Drug Mart, Esso and Mobil.
Pros & Cons
- No annual fee
- Earns 30 PC Optimum points per dollar spent at Loblaw-banner stores and 45 points per dollar at Shoppers Drug Mart
- Comes with perks like travel insurance
- No welcome bonus
- Not as flexible as cash back
- Can only be redeemed in increments of 10,000 points (worth $10) at participating stores
Card Details
- No annual fee
- Earns 30 PC Optimum points per dollar spent at Loblaw-banner stores
- Earns 45 PC Optimum points per dollar at Shoppers Drug Mart
- Earns 30 PC Optimum points (minimum) per litre at Esso and Mobil gas stations
- Earns 10 PC Optimum points per dollar on everything else
- Your rewards could add up to $278.52 a year in rewards value (or $429.24 with Loblaw purchases), according to Forbes Advisors calculations based on average spending among Canadians
- Includes travel emergency medical insurance
- Includes car rental collision/loss damage insurance
FEATURED PARTNER OFFER
PC World Mastercard
3.2
Our ratings take into account a product's rewards, fees, rates and other category-specific attributes. All ratings are determined solely by our editorial team.
Welcome Bonus
None
Annual Fee
$0
Regular APR
21.99%
Welcome Bonus
None
Annual Fee
$0
Regular APR
21.99%
Why We Picked It
Think of this card as the slightly more accessible version of the PC World Elite Mastercard. You’ll still earn more PC Optimum points when buying essentials with no annual fee, but at a slightly lower earn rate than the World Elite.
Pros & Cons
- No annual fee
- Earn 20 PC Optimum points for every dollar spent at Loblaw-owned stores
- Doesn’t offer other perks like travel insurance
- Income requirements of $60,000 annually per individual and $100,000 per household
Card Details
- No annual fee
- Earn 20 PC Optimum points per dollar spent at Loblaw-owned stores
- Earn 35 PC Optimum points per dollar spent at Shoppers Drug Mart
- Earn 30 PC Optimum points per liter at Esso and Mobil gas stations
- Earn 20 PC Optimum points when booking through PC Travel
- Earn 10 PC Optimum points per dollar spent everywhere else
- Your rewards could add up to $278.52 a year in rewards value (or $353.88 with Loblaw), according to Forbes Advisors calculations based on average spending among Canadians
FEATURED PARTNER OFFER
PC Mastercard
3.5
Our ratings take into account a product's rewards, fees, rates and other category-specific attributes. All ratings are determined solely by our editorial team.
Welcome Bonus
None
Annual Fee
$0
Regular APR
21.99%
Welcome Bonus
None
Annual Fee
$0
Regular APR
21.99%
Why We Picked It
The PC Financial Mastercard is the most basic PC Optimum credit card on this list, but it’s also the most accessible because it doesn’t have income requirements. It also earns PC Optimum points on all your spending without having to worry about an annual fee.
Pros & Cons
- Earn PC Optimum points at an accelerated rate when you spend at Loblaw-owned stores, including Shoppers Drug Mart
- Earn $0.07 per litre on gas at Esso and Mobil
- Built-in travel emergency medical insurance and car rental collision/loss damage waiver insurance
- No income requirements
- Little benefit compared to the other PC Financial credit cards when spending at Shoppers Drug Mart or Esso and Mobil
- Earn rate at Loblaw banner grocery stores is the same as the base rate
- No extra perks or benefits
Card Details
- No annual fee
- Welcome bonus of 20,000 PC Optimum points when you make your first purchase at a store that sells PC products or at an Esso or Mobil station
- Earn 10 PC Optimum points per dollar at Loblaw-banner grocery stores
- Earn 25 PC Optimum points per dollar at Shoppers Drug Mart
- Earn up to 30 PC Optimum points per litre at Esso and Mobil stations
- Earn 10 PC Optimum points per dollar on purchases everywhere else
Here’s a Summary of the Best PC Financial Credit Cards
| Credit Card | Best for | Credit Score | Annual Fee | Welcome Bonus |
|---|---|---|---|---|
| PC Insiders World Elite Mastercard | Welcome bonus | Good/Excellent | $120 | 150,000 PC Optimum points |
| PC Financial World Elite Mastercard | No annual fee | Good/Excellent | $0 | None |
| PC World Mastercard | No annual fee | Good/Excellent | $0 | None |
| PC Mastercard | Basic spending | Fair/Good | $0 | 20,000 PC Optimum points |
Methodology
When determining a rating for individual credit cards, the Forbes Advisor Canada editorial team factors in an exhaustive list of data points. With PC Financial credit cards, the scoring model used takes into account factors such as, but not limited to, reward earn rates and categories, fees, welcome bonuses and other rewards and features. Keep in mind, what may be best for some people might not be right for you. Conduct informed research before deciding which cards will best help you achieve your financial goals.
Best PC Financial Credit Cards in Canada For March 2024
PC Insiders World Elite Mastercard
This card earns the most PC Optimum points on spending at Loblaw-banner grocery stores and Shoppers Drug Mart.
Rewards: Earns 40 PC Optimum points per dollar at Loblaws-banner stores, 50 PC Optimum points per dollar at Shoppers Drug Mart, $0.07 per litre at Esso and Mobil gas stations and 10 PC Optimum points per dollar on everything else.
Welcome Offer: 150,000 PC Optimum points ($150 value) when you spend $3,000 or more within the first four months
Annual Fee: $120
Other Benefits and Drawbacks: This card earns big when it comes to PC Optimum points and has a solid welcome bonus. That said, it comes with an annual fee yet its benefits are minimal, only offering travel emergency medical insurance and car rental collision/loss damage waiver insurance.
———————————————————————————-
PC World Elite Mastercard
This card has no annual fee and earns PC Optimum points at Loblaws-owned grocery stores, Shoppers Drug Mart and at Esso and Mobil gas stations.
Rewards: Earns 30 PC Optimum points per dollar at Loblaws-banner stores, 45 PC Optimum points per dollar at Shoppers Drug Mart, 30 PC Optimum points (minimum) per litre at Esso and Mobil gas stations, 30 PC Optimum points per dollar at PC Travel, 10 PC Optimum points per dollar on everything else.
Welcome Offer: None
Annual Fee: $0
Other Benefits and Drawbacks: This card includes valuable perks, especially for a no-annual-fee card, like travel emergency medical insurance and car rental collision/loss damage insurance. That said, it doesn’t offer much if used outside of Loblaw-banner stores.
———————————————————————————-
PC World Mastercard
This card is essentially a more bare-bones version of the PC World Elite Mastercard. It still earns PC Optimum points at Loblaws-banner grocery stores, Shoppers Drug Mart and both Esso and Mobil gas stations—just at a lower rate.
Rewards: Earns 20 PC Optimum points per dollar at Loblaws-banner stores, 35 PC Optimum points per dollar at Shoppers Drug Mart, 30 PC Optimum points (minimum) per litre at Esso and Mobil gas stations, 20 PC Optimum points at PC Travel, 10 PC Optimum points per dollar on everything else.
Welcome Offer: None
Annual Fee: $0
Other Benefits and Drawbacks: While this card doesn’t stack up in terms of earning potential against the PC World Elite Mastercard and lacks additional perks, it’s more accessible in terms of income requirements.
———————————————————————————-
PC World Mastercard
This card is the even more stripped-down version of the PC World Mastercard. It still earns PC Optimum points at Shoppers Drug Mart and both Esso and Mobil gas stations, but it doesn’t offer more than the base rate at Loblaws-banner grocery stores.
Rewards: Earns 10 PC Optimum points per dollar at Loblaws-banner stores, 25 PC Optimum points per dollar at Shoppers Drug Mart, 30 PC Optimum points (minimum) per litre at Esso and Mobil gas stations, 10 PC Optimum points per dollar on everything else.
Welcome Offer: 20,000 PC Optimum points when you make your first purchase at a store that sells PC products or at an Esso or Mobil station
Annual Fee: $0
Other Benefits and Drawbacks: This Mastercard is a more accessible option for those who don’t meet the income requirements for other PC Financial credit cards. It has no annual fee and still earns PC Optimum points. That said, this card has little to offer aside from some earnings at Shoppers Drug Mart, Esso or Mobil gas stations and Loblaws-banner grocery stores. If you shop for groceries or get gas outside this network, which is still large and nationwide, you won’t find many other perks or benefits.
Feature Partner Offer
1
RBC Cash Back Mastercard
On RBC’s Website
Welcome Bonus
None
Annual Fee
$0
Regular APR
20.99%
2
Tangerine Money-Back Credit Card
On Tangerine’s Website
Welcome Bonus
$100
Annual Fee
$0
Regular APR
19.95%
3
MBNA True Line Mastercard
On MBNA’s Website
Welcome Bonus
0% interest for 12 months on balance transfers within 90 days of account opening, with a 3% transfer fee
Annual Fee
$0
Regular APR
12.99% – 19.99%
Best PC Financial Credit Cards
- PC Mastercard
- PC World Mastercard
- PC World Elite Mastercard
- PC Insiders World Elite Mastercard
Types of PC Financial Credit Cards
PC Financial currently offers four credit cards, all of which are rewards cards that earn PC Optimum points. These include the PC Mastercard, PC World Mastercard, PC World Elite Mastercard and PC Insiders World Elite Mastercard.
Forbes Advisor currently has PC financial credit card reviews for the PC World Elite Mastercard and the PC Insiders World Elite Mastercard.
PC Financial Credit Card Benefits
Different PC Financial Credit Cards offer different benefits. Some include:
- Earning PC Optimum points on every purchase
- Access to exclusive offers and promotions
- Zero liability protection against unauthorized transactions
- Travel insurance coverage
- Rental insurance coverage
- Purchase assurance
- Extended warranty
Welcome bonus
The PC Insiders World Elite Mastercard is the only PC Financial credit card to currently offer a welcome bonus. Currently, it offers a welcome bonus of 150,000 PC Optimum points when you spend $3,000 or more within the first four months.
PC Optimum
What is PC Optimum?
PC Optimum is a loyalty program that allows members to earn points on purchases made at participating retailers, including Loblaw-owned grocery stores, Shoppers Drug Mart and Esso and Mobil gas stations. These points can be redeemed for purchases at participating stores.
PC Optimum points value
The value of PC Optimum points is equivalent to $0.01 per point. This means that 10,000 PC Optimum points are worth $10 when redeemed at participating retailers.
How to Redeem PC Optimum Points
You can use your PC Optimum points for purchases at participating retailers, whether you’re shopping in-store or online. To redeem your points, just show your PC Optimum card at checkout or provide your account details to apply your points towards your purchase.
PC Optimum Personalized Offers
By registering your PC Financial Mastercard on the PC Optimum website and using it at checkout in participating stores, the program customizes your offers based on the products you bought.
PC Financial Credit Card Fees
While specific fees may vary depending on the card you choose, common fees associated with PC Financial credit cards may include:
- Annual fees (depending on the card tier)
- Interest rates on outstanding balances
- Cash advance fees
- Foreign transaction fees
- Overlimit charges
- Wire transfer or money order fees
- Dishonoured payment fees
- Account inactivity fees
Requirements for PC Financial Credit Cards
Eligibility Criteria
To apply for a PC Financial credit card, you must meet certain eligibility criteria, including:
- Being the age of majority in your province or territory of residence
- Meeting the minimum income requirements for the card you’re applying for
- Having a good credit score and credit history
Credit Score
Applicants with a good to excellent credit score are more likely to be approved for their credit cards.
How to Apply for PC Financial Credit Cards
You can apply for a PC Financial credit card online through their website or by visiting a participating store. The application process typically requires you to provide personal information, such as your name, address, income, and employment details.
PC Financial Credit Card Activation
When you receive your PC Financial credit card, you must activate it before you can begin using it. Activation is typically completed either online through the PC Financial website or by contacting the activation number provided with your card.
Frequently Asked Questions (FAQs)
How do PC Optimum points work?
PC Optimum points are earned at Loblaws-owned stores like No Frills, Superstore, Shoppers Drug Mart as well as at Esso and Mobil gas stations. You can earn points with a free PC Optimum membership card or with specific credit cards (like those offered by PC Financial). These cards not only earn PC Optimum points at these stores, but also on your other purchases.
For every 10,000 PC Optimum points, you get $10 off purchases at affiliated retailers, excluding taxes and fees, meaning 10 points equal $0.01. PC Optimum points have no expiry date, but accounts may close after two years of inactivity.
There are some restrictions on earning and redeeming points, excluding certain purchases like tobacco, lottery tickets, gift cards, transit tickets and post office transactions. Regulations for pharmacy products vary by province, so check with your local pharmacy when it comes to assessing whether certain products are eligible to earn you points.
Do PC Financial Mastercards have an annual fee?
Currently, only the PC Insiders World Elite Mastercard has an annual fee, which is $120. The other PC credit cards, like the PC World Elite Mastercard, the PC World Mastercard and the PC Mastercard all have no annual fee.
What is the minimum income requirement for a PC Financial Mastercard?
The entry-level PC Mastercard has no specific income requirements. However, the other PC Financial credit cards have the following income requirements:
- PC World Mastercard: A personal income of $60,000 or a household income of $100,000.
- PC World Elite Mastercard: A personal income of $80,000 or a household income of $150,000.
- PC Insiders World Elite Mastercard: A personal income of $80,000 or a household income of $150,000.
Does a PC Financial credit card have travel insurance?
Some PC Financial credit cards may offer travel insurance coverage, including emergency medical and car rental insurance. Currently, only the PC Insiders World Elite Mastercard and the PC World Elite Mastercard offer travel insurance.
Is it easy to get a PC Financial credit card?
Whether or not you can easily get a PC Financial credit card depends on individual factors such as your credit score and income level. Meeting the eligibility criteria and having a good credit profile can increase your chances of approval.
Is a PC Financial credit card worth it?
The best PC Financial credit card is the one that rewards your existing habits. If you frequently shop at Loblaw-banner stores, Shoppers Drug Mart or purchase gas at Esso or Mobil, these cards can earn serious benefits in the form of PC Optimum points. However, if you prefer to shop around for the best deal, there are other grocery credit cards and gas credit cards that can be more beneficial. That said, whether it’s worth it depends on both your spending and individual card features, so be sure to compare PC Financial credit cards before deciding which one to apply for.
Information provided on Forbes Advisor is for educational purposes only. Your financial situation is unique and the products and services we review may not be right for your circ*mstances. We do not offer financial advice, advisory or brokerage services, nor do we recommend or advise individuals or to buy or sell particular stocks or securities. Performance information may have changed since the time of publication. Past performance is not indicative of future results.
Forbes Advisor adheres to strict editorial integrity standards. To the best of our knowledge, all content is accurate as of the date posted, though offers contained herein may no longer be available. The opinions expressed are the author’s alone and have not been provided, approved, or otherwise endorsed by our partners.
Courtney Reilly-LarkeEditor
Courtney Reilly-Larke is the deputy editor of Forbes Advisor Canada. Previously, she was the associate editor of personal finance at MoneySense. She was also managing editor of Best Health Magazine and has contributed to publications such as Cottage Life and Blog TO. She currently lives in Toronto.
