PC Financial Mastercard Review – Earn 3X PC Optimum Points (2020)

PC Financial Mastercard is one of the most popular credit cards in Canada. With the PC Financial Mastercard you’ll earn 3 times more PC Optimum Points at popular stores including Zehrs, Valu-mart, Shoppers Drug Mart, Loblaw’s, No Frills, Real Canadian Superstore and Joe Fresh, totalling nearly 4,500 stores in Canada.

You have three options when it comes to the PC Financial Mastercard – PC Financial Mastercard, PC Financial World Mastercard and PC Financial World Elite Mastercard. All three credit cards have no annual fee. Of course, you’ll get the maximum benefits when you get the PC Financial World Elite Mastercard. But, the other two are no less in terms of benefits. You’ll earn extra PC Optimum Points for every dollar you spend using your PC Mastercard. So the more you use the credit card on day-to-day purchases, the more bonus points you’ll earn. All this for a no annual fee. Let’s get started. 

PC Financial Mastercard 

President’s Choice Financial Mastercard is a product by President’s Choice Bank.

In Canada, PC Financial Mastercard or The President’s Choice Financial Mastercard offers three credit cards – all with a no annual fee. The only difference between the three credit cards is that in terms of benefits and rewards earned. However, all three credit cards offer excellent value for money spent on purchases.

Let’s take a look at the detailed benefits and features of each PC Mastercard here.

Also Read – Rakuten Canadian Review – How To Earn Unlimited Cash Back?

PC Financial Mastercard And PC Optimum Points

Now here’s the thing, even without getting the PC Financial Mastercard you’ll still earn PC Optimum Points for regular purchases through any credit card.

All you have to do is, during checkout, you can pay using any credit or debit card you have and scan the PC Optimum card. That’s it. You will earn the PC Points or the bonus PC Points as per the offer listed.

How PC Mastercard helps you here is – To earn the PC Points at a faster rate. The no annual fee PC Financial Mastercard is designed such that, it adds leaps and bounds of PC Points earning capability.

Also if you don’t know yet, you can redeem 10,000 PC Points for $10 worth of cash at the store. You can redeem the points anytime you wish to until then you keep accumulating PC Points at the regular rate.

Also Read – RRIF vs. Annuity Review: Top 5 Features & Comparison

pc mastercard

Types Of PC Financial Mastercard

As we have already discussed, PC Financial Mastercard comes in three types –

1. PC Financial Mastercard
2. PC Financial World Mastercard
3. PC Financial World Elite Mastercard

Let’s get into the details now.

1. PC Financial Mastercard

PC Financial Mastercard is the first of the three Mastercards offered by PC Financial.

The benefits and features of this card are listed below:

  • No Annual fee

  • No Eligibility Criteria in terms of income levels (Free to Apply for all, approval based on credit score and rating)

  • No Upgrade Criteria or Not Available at the moment (Upgrade to Higher Tiers)

PC Points Earnings for every $1 Spent Using The PC Financial Mastercard :

  • 25 PC Optimum Points for every $1 spent at Shoppers Drug Mart or Pharmaprix

  • 30 PC Optimum Points for every 1 Litre of Gas spent at Esso/Mobil locations

  • 20 PC Optimum Points for every $1 spent at PC Travel

  • 10 PC Optimum Points for every $1 spent on all other purchases

As you are aware of the PC Financial Mastercard is designed to maximize the PC Optimum Points earnings rate. And, PC Points are the #1 rewards points system in Canada right now with regards to cashback value and ease at which you can earn the points and redeeming it.

2. PC Financial World Mastercard

PC Financial World Mastercard is the second of the three Mastercards offered by PC Financial.

The benefits and features of this credit card are listed below –

  • No Annual fee

  • Eligibility to apply for the PC Financial World Mastercard – Minimum criteria – $60,000 per year personal income OR $100,000 per year minimum household income

  • Upgrade Criteria – $15,000 per year Minimum spend on the card (Upgrade to Higher Tiers)

PC Points Earnings for every $1 Spent Using The PC Financial World Mastercard –

  • 35 PC Optimum Points for every $1 spent at Shoppers Drug Mart or Pharmaprix

  • 30 PC Optimum Points for every 1 Litre of Gas spent at Esso/Mobil locations

  • 20 PC Optimum Points for every $1 spent at PC Travel

  • 10 PC Optimum Points for every $1 spent on all other purchases

Also Read – 7 Quick Ways To Maximize Your PC Optimum Points In 2020

3. PC Financial World Elite Mastercard

PC Financial World Elite Mastercard is the third of the three Mastercards offered by PC Financial.

The benefits and features of this card are listed below:

  • No Annual fee

  • Eligibility to apply for the PC Financial World Mastercard – Minimum criteria – $80,000 per year personal income OR $150,000 per year minimum household income

  • Upgrade Criteria – $25,000 per year Minimum spend on the card (Upgrade to Higher Tiers)

PC Points Earnings for every $1 Spent Using The PC Financial World Elite Mastercard –

  • 45 PC Optimum Points for every $1 spent at Shoppers Drug Mart or Pharmaprix

  • 30 PC Optimum Points for every 1 Litre of Gas spent at Esso/Mobil locations

  • 20 PC Optimum Points for every $1 spent at PC Travel

  • 10 PC Optimum Points for every $1 spent on all other purchases

pc mastercard

PC Financial Mastercard Benefits Explained

Here’s an illustration keeping in mind the average monthly spendings for a family of 4.

Let me give you an example here. If you’ll spend around $1000 on the PC Financial Mastercard per month, you have the potential to earn around $300+ in a 12 month period.

While that might not seem like a lot considering for 12 months, it’s still money you can’t just leave on the table.

Also, there’s no annual fee on all three types of cards. You are free to pick the one you like. You are guaranteed to earn PC Points at a faster rate by getting any of the three PC Mastercards. Again, PC Points is the #1 rewards point system in Canada, in terms of earning cashback value and ease of redeeming it.

Don’t forget that you’ll still continue earning the regular PC Optimum points and if you make use of the PC Travel for your travel needs and bookings, this can add up to a very fast earning rate at 4500+ stores in Canada.

Also Read – 7 Quick Ways To Maximize Your PC Optimum Points In 2020

PC Financial Mastercard Promotions

At the time of writing this article, I do not see any ongoing promotions with regards to the PC Mastercard.

If any of the promotions do come up, I’ll make sure to update this article.

PC Financial Mastercard Interest Rates

As with most of the credit cards in Canada, the interest rates here are pretty standard as well.

The Interest rate is 19.97% for regular purchases and for cash advance, it is 22.97%.

Another point to mention here is, if you do not make the minimum payment for 2 consecutive months, the interest rates will go up to 25.97% for regular purchases and for cash advance it jumps up to 27.97%. 

PC Financial Mastercard Additional Benefits

What you’ll really like about the PC Financial Mastercard is that you’ll also be eligible to get a ton of additional benefits that comes with the package, once you apply.

Some of the benefits in the package are simple and others are more complex, but they do add up to create a pretty good package.

For example, you’ll have purchase assurance for 90 days and an extended warranty on regular purchases for a complete year.

You’ll also have Identity theft restoration as part of the benefits.

One more thing to note here, being able to regain control over the PC Mastercard and having the opportunity to avoid any legal hassle is always great. The Identity Theft Restoration system mentioned above is actually very comprehensive and good.

Also Read – 7 Quick Ways To Build An Emergency Fund In Canada

PC Financial Mobile App

You can find the PC Financial Mastercard Mobile App on both Android and Apple app stores.

I’ve personally been using the PC Financial Mobile App on my iPhone and its great. No bugs or glitches. Also, you get regular updates once a while.

Once you’ve installed the PC Financial Mobile app, simply sign in with your existing PC Financial username and password or register your account by selecting Sign up for the first time. For devices that don’t support the PC Financial Mobile App, you can access your account online through web-browser by visiting secure.pcfinancial.ca.

The best part about the PC Financial Mobile App is that you can check your PC Points anytime and the points usually get updated as soon as you complete a transaction at the store. There’s hardly any lag I find. It is quick and easy to set up the App.

Touch/Face ID features work, which adds added security features in terms of the built-in mobile operating system.

Also, using the mobile app, you can look at all of your past transactions and the PC Optimum points you have earned from each of the transactions over time.

If you have any technical glitches, you can contact PC Financial by visiting the pcfinancial.ca – Messaging Center or via call at 1 866 246 7262

Also Read – Top 9 Reasons You Should Transfer Money Using Remitly

PC Financial Mastercard Pros

In this section, let’s discuss a couple of the PC Financial Mastercard Pros or Advantages.

PC Mastercard lets you add up to 4 additional cards for your immediate family members, something that a lot of people will want.

After all, everyone will want to save as much as you do, and having this kind of support and a chance to acquire more PC optimum points does make a lot of sense.

Also, with the PC Financial Mastercard, you’ll get personalized cheques and a card replacement in case of emergency

Another good thing related to the PC Mastercard is that in case you will go through a job loss – standard or spousal loss protection ranges from 79 cents to $1.19 for every $100 you spend. It’s not much, but it’s a benefit that a lot of companies don’t really offer. 

Another point, I have to mention here is, If you regularly purchase from Real Canadian Store, Shoppers Drug Mart or Esso, then you will earn decent points very quickly. Over-time it’ll all add up really quickly for you to redeem.

PC Financial Mastercard

PC Financial Mastercard Cons

In this section, let’s discuss a couple of the PC Financial Mastercard Cons or Disadvantages.

The only downside I can see with the PC Mastercard is that you’ll end up being limited to certain companies or stores to earn PC points; which might come with again come with certain restrictions. Now, that’s again not really a con, you have 4500+ Canadian stores to earn PC Points!

If you are not too much into the PC Optimum points eco-system, or if you are into the Air Miles rewards or Aeroplan, or prefer cash back credit cards, then the PC Financial Mastercard might not be right for you.

The last point, that I actually want to mention here is that, even though there’s no annual fee on any of the credit cards here, you’ll still have to go through a credit card application, hard credit checks which can dent your score a bit. Also, having too many credit cards might not be what you want – especially maintaining it. So decide and act accordingly.

Related Read – Top 7 Free Chequing Accounts In Canada

PC Financial Mastercard Contact Details

For any queries with regards to your credit card application or for any further assistance, you can call PC Financial at 1 866-246-7262.

Conclusion

The PC Financial Mastercard is a great reward points earning credit card and it does help you to save quite a lot of money over the due course of using the card for regular purchases and at gas stations.

Also, one last time, all three credit cards come with no annual fee attached. You can benefit from earning PC Points at an accelerated rate and have the option of redeeming the points when you want.

If you regularly shop at Shoppers Drug Mart, No Frills, Loblaw’s or fill gas at ESSO, then getting a PC Financial Mastercard is a must since it’ll allow you to earn points at a great pace. Also, you have the option of picking the right card from a pool of three.

If you found this article helpful, please share it on social media. Also, do let me know your thoughts and comments below.

Top 10 Latest & Popular Posts 

PC Financial Mastercard Review 2019

4.9

Value For Money

5.0/5

Benefits

5.0/5

Rewards

4.8/5

Pros

  • You will earn PC Optimum Points Faster for the same transactions you make
  • No Annual fee card
  • You'll have purchase assurance for 90 days and extended warranty for a complete year

Cons

  • Limited to certain stores to earn PC points
  • If you’re not making the minimum payment for 2 months, the rates will go up to 25.97% and cash advance to 27.97%
  • Excellent credit cards for those who like PC Optimum

Sagar Sridhar

Sagar Sridhar Is a Personal Finance Blogger from Toronto, Canada. He is a Computer Science Engineer by profession and works in IT Industry. What started as a hobby, quickly turned into serious blogging and income. In this blog, Sagar passionately writes articles about Personal Finance, DIY Investing, Retirement, Stocks & ETFs, Frugal Living and much more. Do visit about page to know more about him. If you would like to get in touch, you can do so by emailing him at [email protected] and he'll get back to you at the earliest.

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