This no-fee card can be a good entrée into the PC Financial Mastercard family for avid PC Optimum points collectors. We break down what you need to know about this card, including the benefits and drawbacks.
Photo by Anna Tarazevich from Pexels
With grocery costs expected to rise between 5% and 7% in 2022, it’s natural to want a card that can earn you some points on that additional spending. If you’ve been collecting PC Optimum points for years, the PC Financial Mastercard could be a good choice for you. This card is designed to help you earn Optimum points, which can be redeemed for groceries and other products at stores like Shoppers Drug Mart and Loblaw banner stores. 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. Plus, if you’re already an avid PC Optimum points collector, this card will help you maximize your earnings.
| Annual fee | $0 |
| Rewards | 10 PC Optimum points per dollar at Loblaw banner grocery stores, 25 points per dollar at Shoppers Drug Mart; 30 points per litre at Esso and Mobil stations; 20 points per dollar at PC Travel; 10 points per dollar everywhere else |
| Point value | 10,000 PC Optimum points are redeemable for purchases worth $10 (1,000 points = $1) |
| Welcome offer |
Get 20,000 PC Optimum points (a $20 value).
|
| Income requirement | None specified |
| Interest rates |
purchases 20.97%, cash advances 22.97%, balance transfers 22.97% (21.97% on cash advances and balance transfers for Quebec residents) |
| 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 Loblaw 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 of the 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 Loblaw banner stores like No-Frills or Fortinos 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.
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.
The PC Financial mobile app is available for Apple and Android phones, and allows you to access valuable insights about your spending habits, balances and points accumulation. If you’re someone who misplaces or loses their credit cards, you’ll love the lock card feature. It allows you to temporarily lock down your credit card without reporting it stolen or missing, giving you time to find your card and avoid the hassle of getting a replacement. If you determine the card is really gone for good, you can notify the bank right from the app. The PC Financial app also allows you to use either Google Pay or Apple Pay with your card.
Optimum Points Days is an annual PC promotion featuring bonus offers from partner stores including Shoppers Drug Mart, Loblaws, Real Canadian Superstore, Esso and Mobil locations. When you use the PC Financial Mastercard to make purchases that included bonus points, you can increase the amount you earn.
The PC Financial Mastercard offers an easy, no-annual-fee way to collect PC Optimum points, so it’s a must-have for those who frequently shop at partner stores and PC Optimum collectors. With no strict minimum income rules, it’s a solid choice for young adults.
While the PC Financial Mastercard makes it easy to earn, the card does not allow you to collect points multipliers at Loblaw 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 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.
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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.
Got 20,000 points after first use of pc mastercard spent 50.08 cad (need to spend over 50 on first purcase). Great points if you fill gas and accumulates point faster than other competitors
With this card can I us my points to by gas at esso
Go ahead and read the endless breathtaking nightmares on so many other sites about this horrible PC Choice credit card. RUN! Don’t walk!
There is a minimum 21 day grace period. You do not pay interest on purchases if you pay the balance before the due date. Like every other credit card.
I am a long time customer and have recently experienced the worst customer service from PC Financial. Locked card, declined transactions, long wait times for customer service. I would not recommend their cards.
I had the CC for 3 years, my credit limit was 12500, I used to spend about 100 a month, I was going on vacation, I spent 2000 on flight, they decreased my credit to 7500 and I paid for hotel and they reduced it again to 3500. I paid off the balance the same day. WTF PC. 0 stars
I think PC Financial has a great rewards program. Unfortunately, I have been trying to activate my card for 2 weeks. Sitting on hold for 30 -4 minutes at a time and no one answers the phone.
PC Financial has let it’s customers down. They believe your time waiting on hold for over 40 minutes to speak to a customer service representative is OK. Perhaps senior management should try wasting their time on hold each time they have a question or concern. We have tried numerous time to use the online support but finally got a bot that said the question was too complicated. All we have been trying to do is activate my replacement card. As my wife is the primary card holder it will not switch over to my card and allow me to update the access code. PC Financial must do a much better job with their customer service to ensure our ongoing business. Ps. Additionally we have had a very hard time understanding the accents of the service reps and are constantly asking them to repeat what they have said.
Harry Hawryshko applied for a mastercard, was approved (approx 3 weeks ago)
still no card. what happened to the card?
I can’t believe how long I have been waiting to talk to a representative. I have been on hold an hour. Is there that many people wanting to talk to PC master card?
I am sick of hearing a recording saying how important my call is to them after over a hour of waiting.
What happen to good service in our world.
If I was to spend $1000.00 on locations other than pc affiliated what cash dollar amount would I receive back?
I would love to have gotten a PC Mastercard – but seems it might be because I have a lower income-senior- I have been disqualified. I have 800+ credit rating=excellent, own my home 24 yrs., no mortgage- but have been put through hoops trying to find out why I denied a credit card. Very disappointed in how I have been treated. Asked repeatedly to send the same information which has all been in emails and PM. A rep called me at home stating a bunch of information that did not mean anything. It was double talk thinking I was stupid. When I said to her I am old, not stupid, she went quiet and the conversation stopped. I just hung up the phone. Low income is the only reason I can come to to not receive this card. I meet all other requirements.
It appears there are real issues with the Master Card system in that it will remove your card from the system even when there is no issue with your account. This is done with no notification to the card holder. Solution is to issue a new card which will be mailed to you. There is no notification or check to see if the card is received, Digging into their system as much as a customer can that is the tip of the ice burg . Think carefully before getting this card. Like many other companies without enough resources hours of wait time is required to contact the company. Their chat system is virtual and only answers a few selected questions. Not a good choice.
NB. It is worth pointing out the Tangerine card mentioned doesn’t bring 2% on ALL grocery purchases, only SOME. Unless you do your grocery shopping at certain grocery stores the rate doesn’t apply. Yet again, it’s only in the small print, but I’m sure many customers get taken in by this policy.
Horrid and deplorable customer service. Don’t ! You will lose many hours of your life you cannot take back for nothing, just a lot of frustration.
They aren’t prepared for new customers. SHAME ON YOU!
I got a P/C Mastercard in the spring promising me and even an e-mail congratulating me on receiving the 100,000. points that was part of the deal when I applied for the card , and what signed up for .I charged more than the required amount @ gas stations and misc for the last 4 months. I had to buy .To date, (4 months later ) still only have points for purchases I made.
(Rip of or scam)?