Finance
PC Financial World Elite Mastercard review – MoneySense
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PC Financial World Elite Mastercard
Card details
| Interest rates | 21.99% on purchases, 22.97% on cash advances (21.97% for residents of Quebec), 22.97% on balance transfers |
| Income required | Personal income of $80,000 or household income of $150,000 |
| Credit score | 560 or higher |
| Point value | 10 PC points = $0.01 at Loblaws grocery network and Shoppers Drug Mart. |
Benefits of the PC Financial World Elite Mastercard
Earn more PC Optimum points than with a basic membership
All PC Optimum members earn points on select purchases. And those points can be redeemed for groceries, drugstore items, home essentials, clothing and gas. But with the PC FInancial World Elite Mastercard, you’ll rack points up much faster: You get 30 points per $1 spent at affiliated Loblaw banner grocery stores. Plus, you earn 45 points per $1 at Shoppers Drug Mart and 30 points per litre at Esso and Mobil stations. Beyond that, it’s 10 points per $1 spent on everything else.
Comes with good 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). Those are two valuable features that could save serious coin on your next trip if you’re involved in an accident. It’s hard to find a $0 annual fee credit card with these kinds of extras.
How to earn PC Optimum points
Earning is easy: simply charge purchases to your PC Financial World Elite Mastercard. You’ll earn the most when you shop at PC-affiliated stores, and fuel up with its gas station partners.
With the PC Financial World Elite Mastercard, you’ll earn 30 Points per $1 spent at affiliated Loblaw banner grocery stores (such as Loblaws, Fortinos, No Frills and Real Canadian Superstore), making this one of the best no-fee credit cards. The earn rate is a whopping 45 points per $1 spent at Shoppers Drug Mart (as well as Pharmaprix in Quebec) and at least 30 points per litre of gasoline or diesel fuel purchased at Esso and select Mobil stations in Canada. You’ll get 10 points per $1 spent on everything else.
How to redeem PC Optimum points
One of the best features of PC Optimum is that redemption is a cinch. As soon as you accumulate 10,000 PC Optimum points, you can redeem them for $10 worth of free groceries or merchandise at any participating stores; or you can save them for fatter savings down the line. Points are calculated based on the purchase price of eligible products, less any applicable discounts and taxes shown on the receipt.
You can redeem PC Optimum points at about 2,500 participating retail locations, including:
- 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 and Pharmaprix
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 your bill while shopping online at the Beauty Boutique, Joe Fresh and PC Express websites.
You can see the list of participating retailers here. While the PC Optimum rewards program is very flexible, there are a few limitations you should be aware of. PC Optimum points cannot be earned or redeemed for certain items, including tobacco, alcohol and gift cards.
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Lisa Jackson
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