Like other no-fee cards, this one offers basic perks—but it can be a good entrée into the PC Financial Mastercard family for avid PC Optimum points collectors. We break down the pros and cons.
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The PC Financial Mastercard is the no-fee, entry-level offering from PC Financial, designed to help collectors earn PC Optimum points, which can be redeemed for groceries or other items purchased at PC-affiliated stores, including Shoppers Drug Mart and Loblaws banner stores. This card pairs flexibility and ease with the potential for great savings on everyday purchases. While it doesn’t offer much in the way of perks, the PC Financial Mastercard sets up cardholders for good rewards now along with the potential for a more premium credit card (and greater rewards) in the future. If you are already an avid PC Optimum points collector, this card will help you maximize your earnings.
| Annual fee | $0 |
| Rewards | Earn 25 PC Optimum points per dollar at Shoppers Drug Mart; 30 points per litre at Esso and Mobil stations; 10 points per dollar everywhere else |
| Point value | 10,000 PC Optimum points are worth $10 (so 10 points = $0.01) |
| Welcome offer | 20,000 points (worth $20) after your first purchase |
| Income requirement | None specified |
| Purchase interest rate | 19.97% (20.97% starting in May) |
| Best features | Collect additional points on top of what you’ll earn with your PC Optimum personalized offers; enjoy a generous earn rate on gas and pharmacy spends; and take advantage of hassle-free redemptions at more than 2,500 locations where PC products are sold |
| Who is it best for | PC Optimum points collectors, frequent shoppers at Shoppers Drug Mart and Loblaws banner stores, and first-time cardholders |
Get more details about the PC Financial Mastercard*
When you shop using your PC Financial Mastercard, you’ll earn points for every dollar you spend, not just at PC-affiliated stores. This works out to 1% in points, which on its own is a perfectly respectable rate. In addition you’ll receive 30 points per litre on gas purchased at Esso and Mobil stations, plus 25 points per dollar at Shoppers Drug Mart—one best returns on gas and pharmacy purchases on any card. No matter how you look at it, these are competitive rewards made even more attractive when you consider that the PC Financial Mastercard carries no annual fee.
Arguably the most flexible store credit card in Canada, the PC Financial Mastercard makes redeeming points as simple as earning them. Redemptions start at 10,000 points, which are worth $10 off at more than 2,500 PC-affiliated locations, including Loblaws banner stores like No-Frills or Fortino’s, and Shoppers Drug Mart. You can redeem points right at the checkout and the points will be used against the cost of whatever you’re purchasing.
New cardholders receive 20,000 bonus PC points just for making your first purchase. That’s about the easiest $20 you can earn!
There is no specific income requirement for the PC Financial Mastercard, so it’s easy to qualify—even for students looking for their first card. And, if you fall into a higher earning category you could be automatically considered for the higher-tier PC Financial World Mastercard ($60,000 income required)or PC Financial World Elite Mastercard ($80,000 income required) during the application process.
Earning $60,000 to $80,000 annually may not be in reach right now but if you spend at least $15,000 on your PC Financial Mastercard over the course of a year, you could be eligible to receive an upgrade to the mid-tier PC Financial World Mastercard. Spend $25,000 and be considered for PC Financial World Elite. All three options are no-fee.
Everything you buy using your PC Financial Mastercard earns you valuable PC points, but to maximize your earnings, you’ll want to get strategic with your spending. As a PC Financial Mastercard cardholder you’ll have access to PC Travel—President’s Choice travel service agency, where you will collect two times the points on your travel spending, including flights, hotels, tours and car rentals. And, when you use your PC Optimum personalized offers available through the app or in-store, you’ll increase your earnings even more.
The PC Financial Mastercard is a basic, no-fee card geared towards those who want to save big on everyday purchases like groceries or drugstore items; this is where the card shines. However, like most no-fee cards, it doesn’t offer much in the way of perks—though you will enjoy purchase and extended warranty protection when you shop.
While the PC Financial Mastercard makes it easy to earn, the card does not allow you to collect points multipliers at Loblaws banner stores; that means you’ll receive only the base rate of 10 PC points per $1 (1%) on your grocery shopping there. As groceries are one of the biggest spending categories, this is a considerable shortcoming. Other no-fee cards, like the CIBC Dividend Visa and the Tangerine Money-Back Card, offer double that rate, at up to 2% back on grocery purchases.
As a store credit card, the PC Financial Mastercard isn’t as flexible as a conventional cash back credit card. You can only redeem PC points on purchases from retailers affiliated with PC. For those who do a lot of shopping at PC stores, though, the earn rate and redemption policy make it a real contender.
The PC Financial Mastercard is a solid no-fee starter rewards card with easy qualifications, and it gives regular Canadians entry-level access to the PC points program. Cardholders can earn hefty rewards points at Shoppers Drug Mart and on gas (indeed, it’s one of the best credit cards for gas and drug store spending in Canada), but it falls a little short on grocery returns when compared to some other no-fee credit cards in Canada. However, the flexible points programs and easy redemption may make up for this shortfall. For those who shop regularly at PC-affiliated stores, the PC Financial Mastercard can boost your savings.
Get more details about the PC Financial Mastercard*
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There are 3 points for Loblaw’s + Shoppers, 1 point for other locations. This article is factually incorrect.
I love the PC Mastercard! I save the points and treat my daughter to a ‘free’ grocery shopping trip.
I presently have Capitol 1 and walmart rewards Mastercard would like a PC card as more flexibility
We stopped using it after it couldn’t sync to mint.com anymore
Note that there is interest charged on purchases from the day of purchase. There is no grace period. Make a payment to your credit card every day after you have use it to minimize interest charges.
This isnt completely true. The interest rate is actually about 25% and there is absolutely no customer service, not to mention false claims on your statements.
I used to absolutely love my PC card it was my go to card for the better part of 20 years… Then they stopped sinking with me and I had to manually put in my purchases… Over an hour a month I didn’t have time for. Argh. We switched to Tangerine MC.
I’ve been an Elite member for years. I spend more than double the required amount.
While I love the points which is free groceries for our family, the Customer Service is pathetic. While the folks you talk to are nice without exception. They can’t solve a 16 month old problem with our cards though they’ve tried many times. It started with their new website in November 2018 and exists to this day.
After being denied cards and loans from banks, PC Mastercard was the only Credit card I was able to be approved for when I was deep in credit failure. Been with them for about 6 to 7 years, and thanks to them for helping me get my credit back to very good.
There’s no mention in this article that effective May 25th 2020, PC Financial MasterCard will be rounding down the total purchase amount to the nearest full dollar when calculating PC Optimum points for the purchase. So if the purchase amount is $5.99 it will be rounded down to $5.00 No surprises here as PC Financial has followed what many other credit card companies have been doing (shrinking point perks) when it comes to collecting points.
I will not be using this card much more in the future and shame on you PC Financial for squeezing the consumer for your benefit.
Everything is milk and honey until you try to get to your account on line vey difficult to get to the account.
Agent tells me it is set up this way for my protection, but if they don’t change the way it works I am going to cancel this account and the frustration that goes with it
Avoid PC, I’ve been trying for two weeks to call them urgently about fraudulent use on my account. At least one call a day, over an hour on hold each time before having to hang up. They are uncontactable, a big concern. I’m switching provider immediately.
I barely use mine. It’s my only CC. In the 10-odd years I’ve had it I’ve been hit by fraud at least 3 times. Each time I was issued a new card number and points accumulated were never transferred to the new card.
It’s scam!!! Paid off my PC master card and close account. Get later for closing account from them. After half month get statement I need to pay 12.75$
Don’t use theirs card.
The pc mastercard is pretty bad in rewards if you think about it.
A/ has to be specific items when you grocer shop,
B/ the points you earn is like 0.04%, compared toa 1% cash back credit card that is embarassing.
c/ Points can be hacked… cash back does not… My gf recently lost all 540,000 points that she had on her account, and I doubt we are getting them back. esecially during covid-19 Customer Service.
d/ i had issues with trying to get my money back from a company that sold me clothing that was nothing as what was advertised, and a missing jacket. They told me I had to send it back, which would of come from my costs, at 30$ and that was *IF* the shadey company decided they would tell em they received it. “The website was a hidden chinese company pretending to have American Standards. There was no money received back from the missing jacket even..
really bad credit card, good for beginners since it doesnt have an annual fee but not a professionals credit card. best to look else where.
I was victim of identity theft and someone is using this credit card on my name since January, it seems as a good entry level credit card for criminals
I have a pc MasterCard and I can’t use my points
Worst credit card company.I am a health care worker and was few days late in my payment and informed that due to my work time I was late but will pay out asap but was told by costomer service that they will not waive interest due being late.I also do have other cards but told me not to worry about being late and they will wave the interest.But PC will not do this.What a shame.I will pay out my card and cease PC card.No more.
I’m a happy customer. We very quickly qualified for the World Elite card, and use it for everything, gas, groceries, utilities, online purchase, a fridge, travel. The result is a big reduction in grocery costs every time we shop. Linking the credit card to the Optimum card took a couple of calls to customer service, but we’ve been happy with it now for about 5 years
I cancelled my PC Financial credit card after the two months due to poor customer service. PC Financial was absolutely aweful. Shortly after, someone from the credit department called to apologize. I have no faith in their integrity as a company.
I have had a credit with this company for 5 years and only missed one payment because everyone is just trying to get their shit together with all this covid stuff I said I could pay today and totally forgot they froze my account and refused to open it for a week for missing 1 payment in 5 years and she was very rude said sorry nothing we can do I was not told that my account was frozen instead I had to be embarrassed when my card didn’t got threw when it should have worked since I only owed 30% percent of the balance of 5500 I am paying off my account and never having anything to do with this company again if this how you treat your loyal customers count me out.
PC MasterCard Customer Care do not know their promotions. One has to haggle with them and provide them screenshots of promotions that are still in effect. PC MasterCard has a 5000 point bonus offer for purchase of 40 litres or more of fuel at Esso and Mobil stations up to a maximum of 20,000 points from August 27-September 26, 2020. I only got those points after I asked for them when I bought fuel on August 28. I got them on the same day. I bought more fuel with my PC Master Card on September 19. No 5000 points again. When I contacted their Customer Care I was asked by Pat to send them a screenshot of the promotion. I did. Employee named Kel informed me that the screenshot was received and that the missing points will be added to my PC Optimum account within 4-6 weeks. If I did not received them after that timeframe I should let them know. Outrageous. Award for excellence? For what? For lack of knowledge, for not being informed about their own promotions and for playing with customers like cats with a mouse.
Sorry, but I find this outrageous. That promotion is still in effect today. Where do they operate from? From Calcutta or somewhere from South America? Who trains those people?
I have phoned four or five times trying to get them to fix my account “ACCOUNT LOCKED”
I’ve paid my bill hopefully not paying interest.
The last time I spoke with someone I asked them to send a paper copy.
I definitely don’t have hours to spend on the phone with them as they try and fix my LOCKED ON LINE ACCOUNT THAT THEY SO FAR ARE UNABLE TO FIX.
Hello – because MoneySense is an online magazine, we are dedicated to offering information that will help people make good financial decisions. However, we are not a liaison between customers and providers of financial services.
For personal advice, we suggest consulting with your financial institution or a qualified advisor.
The dispute process sucks. I started a claim on a purchase in July and it appears that this may go on for several more months. I am so frustrated. You always hear, use your credit card to pay for things so that if you have issues you have recourse through your credit card company. Well I am finding this is not the case with MasterCard.
I have been a client of PC MasterCard for many years with excellent record. Never missed a payment. I have given thousands of dollars in business to PC.
just called Customer Service and asked them to waive the interest rate of $96 as we are going through these strange times. The Customer service rep was so insensitive and kept repeating the same script over and over. He didn’t seem to care. I am very disappointed with PC and thinking to switch to other institutions.
PC Financial decreased my credit limit of 5000 to 1300, I always paid my bill every single month, I recently had paid it all off too and was continuing to use it, as I had done every month, I logged on today and noticed they decreased my credit limit drastically without any notice, no email, no letter, no phone call nothing. I was furious, I canceled the card instantly. Stay away from PC Financial at all costs
This is for anyone thinking of getting a basic PCF Mastercard. It does give 10 optimum points on every rounded down dollar spent almost anywhere on anything. There are bonuses and select locations will give even more points for each dollar. So far that includes booze, prescriptions, weed, and even taxes. So long as you have some kind of verifiable income you can get a basic PCF Mastercard. That’s the end of all the positives about the card. Now for the negatives. Transaction postings take 1 to 4 working days not including weekends. Posting the optimum points takes another day or 3 after the actual transaction is posted. I’ve also just recently discovered that even though my spending hasn’t changed, when I started to very quickly pay down my balance they cut my credit limit in half without any notice. When I phoned, they absolutely refused to restore it period!! They told me I could apply for an increase in 6 months. All summed up, I like the card for the points I get, but they treat their customers like crap.