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Best for: PC Optimum point collectors.
The PC Financial Mastercard earns up to 45 points per eligible $1 spent. Point redemptions are limited to participating PC Optimum program partners.
Learn more about how we evaluate cards.
Accrue PC Optimum points on everyday purchases and redeem them for discounts at Loblaws, the Real Canadian Superstore, Shoppers Drug Mart and more.
PC Financial Mastercard
- 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.
PC Financial Mastercard full review
The PC Financial Mastercard is a no-fee credit card that earns PC Optimum points. Points can be redeemed for discounts on in-store and online purchases at participating retailers.
Benefits of the PC Financial Mastercard
The PC Financial Mastercard’s insurance coverage includes extended warranty and purchase protection. Cardholders also gain access to round-the-clock emergency support courtesy of Mastercard Global Service.
Drawbacks of the PC Financial Mastercard
Perks are thin on the ground for the PC Financial Mastercard. It’s missing travel, mobile device and car rental insurance, and lacks the benefits offered by its no-fee credit card competitors, like free Boingo Wi-Fi, discounted airport lounge access, car rental discounts and more.
Who should get the PC Financial Mastercard?
PC Optimum point collectors seeking a straightforward, no-fee credit card should consider the PC Financial Mastercard. The card earns PC Optimum points on eligible purchases and can be linked to existing PC Optimum accounts for streamlined points tracking.
Is the PC Financial Mastercard Credit Card worth it?
Your spending habits will determine whether the PC Financial Mastercard is a valuable addition to your wallet. There’s no annual fee to recoup, but reward redemptions are limited to stores that earn PC Optimum points.
President’s Choice Financial customer ratings
- Above average in customer satisfaction: PC Financial ranks third out of 13 institutions in online banking satisfaction according to J.D. Power’s 2023 Canada Credit Card Satisfaction Study.
- Low Trustpilot rating: 1.3 out of 5 possible stars based on over 270 customer reviews, as of this writing.
- Poor Better Business Bureau rating: 1.19 out of 5 possible stars based on over 25 customer reviews, as of this writing.
PC Financial Mastercard eligibility
Who qualifies for the PC Financial Mastercard Credit Card?
To qualify for the PC Financial Mastercard, you must:
- Be a Canadian resident.
- Be at least the age of majority for your province or territory.
Approximate credit score needed for approval
Canadian credit card issuers rarely disclose required credit scores, which makes it hard to know your chances of approval when comparing credit cards. However, higher scores generally mean better chances of approval, and that’s true regardless of the type of credit you’re applying for.
Want to learn more? Visit our “What Credit Score is Needed for a Credit Card?” page.
PC Financial Mastercard Credit Card rewards
Get 100,000 PC Optimum points when you make your first purchase with your PC Financial Mastercard at an eligible store where President’s Choice products are sold or at an Esso or Mobil gas station in Canada.
Earn PC Optimum points at the following rates:
- Up to 45 PC Optimum points per $1 spent at Shoppers Drug Mart and Pharmaprix stores.
- Up to 30 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.
PC Optimum points can be redeemed for discounts on in-store and online purchases at participating retailers.
The PC Financial Mastercard’s welcome bonus includes 100,000 PC Optimum points worth $100 according to PC Financial.
Outside its introductory offer, the card earns up to 45 PC Optimum points per eligible $1 spent, which can be redeemed for money off in-store or online redemptions. Plus, there’s additional value to be gleaned from the card’s extended warranty and purchase protection, should they ever be put to use.
Point value breakdown
According to PC Financial, 1 PC Optimum point is worth 0.1 cents.
Where can PC Optimum points be redeemed?
You must have at least 10,000 PC Optimum points for an in-store or online redemption, worth up to $10 off your purchase. Points can be redeemed up to a maximum of $500 off one purchase. Popular participating retailers include:
- Joe Fresh.
- Loblaws.
- No Frills.
- Real Canadian Superstore.
- Shoppers Drug Mart.
How to apply for the PC Financial Mastercard
The application process for the PC Financial Mastercard can be completed online by visiting the PC Financial website:
- Review the card’s terms and conditions. Select Next.
- Enter your personal information, including your full name, date of birth, email address, phone number, residential address and employment details.
- Review and submit your application.
PC Financial Mastercard vs PC Insiders™ World Elite Mastercard
The PC Financial Mastercard is a practical pick for those who want to earn PC Optimum points without the commitment of an annual fee. But for those who want to earn more points per eligible dollar spent, the PC Insiders™ World Elite Mastercard may be worth a look. Though it comes with an annual fee, the card has an array of premium perks, like travel insurance and accelerated rewards rates.
| PC Financial Mastercard | PC Insiders™ World Elite Mastercard | |
|---|---|---|
| Annual fees | $0. | $120. |
| Earns | PC Optimum points. | PC Optimum points. |
| Reward rates |
|
|
| Insurance coverage |
|
|
Reasons you might want a different card
The PC Financial Mastercard may not be a practical fit if:
- You don’t collect PC Optimum points.
- You don’t spend often at Loblaw-affiliated stores, Shoppers Drug Mart, Esso or Mobil.
- You want a cash-back card with more flexible redemption options, like the Tangerine World Mastercard® or the Scotia Momentum® Visa Infinite* Card.
- You want a card that rewards you for shopping elsewhere, like the Hudson’s Bay Mastercard or the Tims Credit Card.
PC Financial Mastercard facts
| PC Financial Mastercard | |
|---|---|
| Card type | No-fee credit card. |
| Fees and interest rates | |
| Annual fee | $0. |
| Regular/purchase APR | 21.99%. |
| Penalty APR | 26.99% if you miss two consecutive monthly payments as of April 2024. |
| Cash advance APR | 22.97% (21.97% for Quebec residents.) |
| Cash advance fee | $5 per transaction in Canada, $7.50 per transaction outside Canada. |
| Balance transfer fee | Up to 5% of the transaction amount. |
| Foreign transaction fee | 2.5% of the transaction amount. |
| Rewards and benefits | |
| Intro offer | Enjoy 20,000 PC Optimum™ points in welcome offers* when you apply for the no annual fee PC® Mastercard®. |
| Reward earn rates | 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. |
| Other perks |
|
| Insurance coverage | |
| Extended warranty | Up to one additional year. |
| Purchase protection | 90 days. |
Rating Methodology
NerdWallet Canada rates credit cards according to overall consumer value and their suitability for specific kinds of consumers. Factors in our evaluation methodology include annual and other fees, rewards rates, the earning structure (for example, flat-rate rewards versus bonus categories), redemption options, bonus offers for new cardholders, introductory and ongoing APRs, and other noteworthy features such as airline or hotel perks or the ability to transfer points.
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