- grocery stores such as Loblaws, Fortinos, No Frills and Real Canadian Superstore
- retail stores such as Zehrs and Joe Fresh
- drugstores such as Shoppers Drug Mart
Just tell the cashier that you would like to “spend” your Points when you scan your PC Optimum card at the checkout counter. Or you can redeem Points off you bill shopping online at Beauty Boutique, Joe Fresh and PC Express websites.
You can locate participating retailers here. While the PC Optimum Rewards program is very flexible, there are a few limitations. PC Optimum Points cannot be earned or redeemed for certain items, including tobacco, alcohol and gift cards.
Each province and territory has different laws pertaining to earning and/or redeeming PC Optimum Points on prescriptions, medication and other pharmacy or healthcare-related products and services.
You can stack your Points with special deals
To collect extra Points, keep your eyes peeled for Points-earning promotions at participating stores, like Shoppers Drug Mart’s “20x the Points” events, and register at PCOptimum.ca to get weekly offers sent directly to your inbox.
For a no annual fee card, it has excellent insurance benefits
The PC Financial World Elite Mastercard is a unicorn in the credit card world. Although it has no annual fee, cardholders get the added benefit of insurance coverage. As part of the package, you’ll get car rental collision/loss damage waiver insurance and up to $1 million in travel emergency medical insurance (for up to 10 days from departure)—two valuable features that’ll save serious coin on your next trip. It’s hard to find a $0 annual fee credit card that also offers these extras.
Are there any drawbacks to the PC Financial World Elite Mastercard?
With no annual fee and a great rewards program, there aren’t a lot of downsides to this rewards card. However, PC Optimum Points can only be redeemed in increments of 10,000. So, if you have 47,000 Points, you can “spend” 40,000 of them for $40 off your purchase, and hold the remaining balance of 7,000 Points in your account. In addition, the earn rate is significantly less at non-PC-affiliated retailers (only 10 points per $1 spent)—so if you don’t shop at these stores, this card probably isn’t for you.
This card is aimed at higher-income shoppers ($80,000 minimum individual annual income, or household income of $150,000), so if you’re a student or just starting out, it’s unlikely you’ll qualify. However, there are two other PC Financial Mastercard options with lower income requirements; just beware the earn rates are proportionately less juicy as well. Also, a $15,000 minimum annual spending requirement is now enforced.
For those who shop loyally at Loblaws, its sister grocery stores, and Shoppers Drug Mart, and who choose to fuel their vehicles at Esso and Mobil stations, this no-fee rewards card is one of the best for groceries and gas. If you don’t shop at these stores, you may want to consider a conventional rewards credit card instead.