Best PC Financial Credit Cards
You may know President’s Choice best for their food products, but the company also issues credit cards through President’s Choice Financial, or PC Financial for short.
The company is owned by Loblaw and offers four credit cards that earn PC Optimum points, which you can redeem at a range of stores and gas stations nationwide.
Compare PC Financial credit cards
Rewards breakdown
Rewards breakdownPoints per $1 at Shoppers Drug Mart and Pharmaprix stores.
Points per $1 at Loblaw-affiliated grocery stores.
Points per litre at Esso and Mobil gas stations.
Points per $1 every else.
NerdWallet's take
NerdWallet's takeThis co-branded card generously rewards Loblaw shoppers with up to 4.5% back on everyday spending categories, like gas, groceries and drugstore purchases. That said, points are only redeemable at Loblaw stores, and steep income criteria limits this card’s accessibility. Best for: High-income earners who frequently shop Loblaw-affiliated stores.
Pros
- No annual fee.
- Up to 4.5% back in everyday spending.
- Some travel insurance.
Cons
- High $80,000 individual or $150,000 household annual income requirement.
- Highest earn rate limited to drugstore spending.
- Points only redeemable at participating Loblaw-owned stores, Shoppers Drug Mart/Pharmapix, and Esso gas stations.
Card details
Card details- 45x PC Optimum points per dollar on Shoppers Drug Mart purchases.
- 30x PC Optimum points per dollar on Loblaw-brand grocery store purchases.
- 30x PC Optimum points per dollar per litre of gas purchased at Esso Mobil.
- 10x PC Optimum points per dollar on all other purchases.
- Redeem a minimum of 10,000 points for free products and groceries at participating stores (in person and online).
- No annual fee.
- 24/7 concierge service to make dinner reservations, reserve event tickets, deliver gifts and more.
- Access to identity theft services to help you avoid identity theft or restore your identity if stolen.
- Four types of insurance provided, including 10-day travel medical benefits for those under age 65.
- Preferred rates: 20.97% for purchases, 21.97% for cash advances.
- To be eligible, $80,000 (individual) or $150,000 (household) annual income is required. Also, you must have a Canadian credit file and be a Canadian resident of the age of majority in the province or territory where you live.
Rewards breakdown
Rewards breakdownPoints per 1 litre of purchased gas when you fuel up at Esso and Mobile stations in Canada.
Points per $1 spent at Shoppers Drug Mart and Pharmaprix stores.
Points per $1 spent at eligible Loblaw-affiliated and Joe Fresh stores.
Points per $1 spent everywhere else.
NerdWallet's take
NerdWallet's takeWith no annual fee or minimum income requirement, the President's Choice Financial Mastercard is a solid choice for PC Optimum points collectors on a budget. But don’t expect high rewards rates or travel perks. Best for: Budget-minded Loblaw loyalists who spend big at the pharmacy.
Pros
- No annual fee.
- Earn points on everyday purchases.
Cons
- Highest 2.5% earn rate only applies to Shoppers Drug Mart and Pharmaprix.
- No travel insurance.
Card details
Card details- No annual fee.
- Enjoy 20,000 PC Optimum™ points in welcome offers* when you apply for the no annual fee PC® Mastercard®.
- Earn 25 PC Optimum points per $1 spent at Shoppers Drug Mart and Pharmaprix stores; 10 PC Optimum points per $1 spent at eligible Loblaw-affiliated and Joe Fresh stores; at least 30 PC Optimum points per 1 litre of purchased gas when you fuel up at Esso and Mobile stations in Canada. 10 PC Optimum points per $1 spent everywhere else.
- Mastercard Global Services replaces your card or offers a cash advance in emegencies.
- Add up to four authorized users for free.
Rewards breakdown
Rewards breakdownPoints per $1 at Shoppers Drug Mart and Pharmaprix stores.
Points per litre at Esso and Mobil stations in Canada.
Points per $1 at Loblaws-affiliated grocery stores.
Points per $1 everywhere else.
NerdWallet's take
NerdWallet's takeCanadians who frequent Loblaw-owned stores will find something to appreciate in this no-fee co-branded card. It offers up to 3.5% back on popular everyday spending categories, including gas, groceries, clothing and drugstore spending. But additional perks are thin on the ground, and travel coverage is nonexistent. Best for: Loblaw and Shoppers Drug Mart patrons.
Pros
- No annual fee.
- Up to 3.5% back in everyday spending.
Cons
- No travel insurance.
- Highest earn rate limited to drugstore spending.
- Points only redeemable at participating Loblaw-owned stores, Shoppers Drug Mart/Pharmapix, and Esso gas stations.
Card details
Card details- No annual fee.
- 35 points per $1 at Shoppers Drug Mart and Pharmaprix stores, 30 points per litre at Esso and Mobil stations in Canada, 20 points per $1 at Loblaws-affiliated grocery stores and 10 points per $1 everywhere else.
- Mastercard Global Services replaces your card or offers a cash advance in emergencies.
- Free extended warranty.
- 24/7 concierge service.
Rewards breakdown
Rewards breakdownPoints per $1 at Shoppers Drug Mart stores.
Points per $1 at Loblaw banner grocery and Joe Fresh stores.
Points per $1 everything else.
NerdWallet's take
NerdWallet's takeWith accelerated earn rates at Loblaws grocery stores, Shoppers Drug Mart stores and Joe Fresh stores, frequent shoppers can rack up the rewards. But the $80,000 minimum income requirement may exclude some users. Best for: Frequent Loblaw shoppers who spend big in partner stores.
Pros
- Free PC Express grocery delivery and pickups.
- Some travel insurance included.
Cons
- Higher earn rates are only available at certain stores.
- Steep $80,000 minimum income requirement for individuals, or $150,000 per household.
Card details
Card details- $120 annual fee.
- Earn 50 PC Optimum points per $1 at Shoppers Drug Mart stores, 40 points per $1 at Loblaw banner grocery and Joe Fresh stores, 10 points per $1 everywhere else, plus 7¢ per litre in points at Esso and Mobil stations in Canada.
- Travel emergency medical insurance included.
- Rental car coverage included.
- Additional cardholders are free.
- Mastercard Global Services replaces your card or offers a cash advance in emergencies.
- Unlimited free online grocery delivery and pickups (and complimentary PC Express Pass (valued at $99.99 per year).
Methodology
BACK TO TOPSummary of PC Financial credit cards
| Card | NerdWallet rating | Annual fee | Interest rates | Rewards rate |
|---|---|---|---|---|
| PC World Elite Mastercard | ||||
 | 4.2/5 | $0 | 21.99%/22.97% | 10x-45x Points |
| PC® Mastercard® | ||||
 | 4.1/5 | $0 | 21.99%/22.97% | 10x-30x Points |
| PC World Mastercard | ||||
 | 4.1/5 | $0 | 21.99%/22.97% | 10x-35x Points |
| PC Insiders™ World Elite® Mastercard® | ||||
 | 3.8/5 | $120 Waived first year | 21.99%/22.97% | 10x-50x Points |
What to know about PC Financial’s credit cards
Weigh the costs, perks, and rewards of PC Financial credit cards to determine if they’re the right fit before applying.
Benefits and drawbacks of PC Financial credit cards
Benefits
Three of PC Financial’s credit cards do not charge an annual fee.
You can redeem points online and in person at select locations.
The PC World Elite Mastercard and PC Insiders™ World Elite® Mastercard® offer both travel insurance and rental car coverage.
PC Financial’s credit cards are the only credit cards in Canada that earn PC Optimum points, as of this writing.
Drawbacks
Accelerated earn rates only apply to purchases made in select stores and services.
The PC® Mastercard® and PC World Mastercard have limited insurance offerings.
How does the PC Optimum rewards program work?
PC Optimum rewards program
PC Optimum is the President’s Choice rewards program. Members can earn points at participating stores across Canada and redeem them at select locations. A PC Financial credit card is not required to start collecting PC Optimum points, and membership is free and open to Canadian residents over the age of 14.
How to earn PC Optimum points
Earn PC Optimum points at over 4,500 gas stations, grocery stores and other participating locations.
Pay with your PC credit card to automatically earn points on eligible purchases.
Or, scan your PC Optimum membership card, key tag or mobile app at checkout to earn points.
Visit the PC Optimum website and enter your location to search for places nearby where you can earn points.
How to redeem PC Optimum points
You can redeem PC Optimum points online or in-store at any participating location. For example, you can use the points you collect to pay for items at Joe Fresh, or gas at Esso.
In-store: Simply scan your PC Optimum card, key tag or mobile app at the register or self-checkout.
Online: Select to redeem points with your purchase at checkout.
PC Financial credit card costs and features
Learn more about PC Financial’s credit card lineup through these key features.
The PC Insiders World Elite Mastercard is the only credit card from PC Financial with a welcome offer, as of this writing.
The following interest rates apply to all four of PC Financial’s credit cards, as of this writing:
Purchase: 21.99%.
Cash advance: 22.97% (21.97% in Quebec).
Penalty: 26.99% for purchases and 27.95% for cash advances may go into effect if you miss a payment.
Expect to pay the following fees, as of this writing:
Annual fee: $0 ($120 for the PC Insiders™ World Elite Mastercard).
Balance transfer fee: 5%.
Cash advance fee: $5 to $7.50.
Foreign transaction fee: 2.5%.
Dishonoured payment fee: $42.
Over-limit fee: $29 ($0 for Quebec residents).
Travel emergency medical insurance. PC World Elite and PC Insiders World Elite cardholders, under the age of 65, can enjoy up to $1,000,000 of coverage for the first 10 days of a trip.
Rental car theft and damage. PC World Elite and PC Insiders World Elite cardholders get 31 days of coverage on rental vehicles in the event of damage or theft.
Extended warranty and purchase protection. All of PC Financial’s cardholders get extended warranty and purchase protection.
How to choose the best PC Financial card for you
Consider the following when deciding which PC Financial credit card is right for you.
Annual fee. While most of PC Financial’s credit cards have no annual fee, the PC Insiders World Elite Mastercard costs cardholders $120 per year. Getting a card with an annual fee only makes sense if the benefits of the card outweigh the cost.
Interest rate. All of PC Financial’s credit cards offer the same interest rate (21.99%). If you suspect you’ll carry a balance from month to month, you may want to consider a low-rate credit card instead.
Earn rates. Look at the specific earn rates for each of PC Financial’s credit cards. The card that earns the most points at the store you shop at regularly will likely be the best fit.
Income requirements. Most of PC Financial’s credit cards require you to have a minimum annual income to apply, ranging from $50,000 to $80,000 for individuals. The exception is the PC Mastercard, which does not have any income requirements.
Welcome offer. There may be a sign-up bonus of PC Optimum points available, depending on the card you’re interested in. Read any applicable terms and conditions to see what criteria are required to unlock the offer.
How to apply for a PC Financial credit card
You can apply for a PC Financial credit card online via the company’s website. Just click on the ‘Apply now’ button and follow the online prompts.
In general, you’ll need to submit your personal contact details, employment status and financial information to apply.
Is a PC Financial credit card worth it?
If you’re a regular Loblaws shopper and enjoy collecting PC Optimum points, a PC Financial credit card may be a good fit. However, these cards are designed to earn and redeem points under the President’s Choice and Loblaws brands, which means you have to shop at their stores to get the most out of the rewards program.
If you tend to shop more at, say, Walmart or Costco, a different store credit card may make more sense.
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