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Best PC Financial Credit Cards in Canada for 2024




Best PC Financial Credit Cards in Canada for 2024 – NerdWallet
































Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own.

You may know President’s Choice best for their food products, but the company also issues credit cards through President’s Choice Financial, or PC Financial for short. 

The company is a part of the Loblaws brand and offers four cards that earn PC Optimum points, which you can redeem at a range of stores and gas stations nationwide. 

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Compare PC Financial credit cards



$0



21.99% / 22.97%


10x-45x Points



N/A

Why we like it

This card offers incredible accelerated earn rates on spending at the types of retailers people use every day — drug stores, grocery stores and gas stations — in addition to a high earn rate on trips booked through President’s Choice Travel.

Pros

  • Quickly rack up points toward free groceries, gas, drug store purchases and travel.
  • A rare World Elite Mastercard with no annual fee.

Cons

  • Points can only be earned and redeemed at participating Loblaw-owned stores, Shopper’s Drug Mart/Pharmapix, and Esso gas stations. You must wait until you have at least 10,000 points before redeeming rewards, and you can’t transfer them to other loyalty programs.
  • No airport lounge access, despite being a World Elite card.
  • 45x PC Optimum points per dollar on Shoppers Drug Mart purchases.
  • 30x PC Optimum points per dollar on Loblaw-brand grocery store purchases.
  • 30x PC Optimum points per dollar per litre of gas purchased at Esso Mobil.
  • 30x PC Optimum points per dollar on PC Travel purchases.
  • 10x PC Optimum points per dollar on all other purchases.
  • Redeem a minimum of 10,000 points for free products and groceries at participating stores (in person and online).
  • No annual fee.
  • 24/7 concierge service to make dinner reservations, reserve event tickets, deliver gifts and more.
  • Access to identity theft services to help you avoid identity theft or restore your identity if stolen.
  • Four types of insurance provided, including 10-day travel medical benefits for those under age 65.
  • Preferred rates: 20.97% for purchases, 22.97% for cash advances.
  • To be eligible, $80,000 (individual) or $150,000 (household) annual income is required. Also, you must have a Canadian credit file and be a Canadian resident of the age of majority in the province or territory where you live.



$0



21.99% / 22.97%


10x-30x Points



N/A

Why we like it

With no annual fee or minimum income requirement, the President’s Choice Financial Mastercard is a solid choice for PC Optimum points collectors on a budget.

Pros

  • No annual fee.
  • No minimum income requirements.
  • High earn rates at the pump (30 points per litre at Esso and Mobil).

Cons

  • No added insurance coverage.
  • Lower earn rates than other PC Financial credit cards.
  • No annual fee.
  • 25 points per $1 at Shoppers Drug Mart stores, 30 points per litre at Esso and Mobil stations in Canada, 10 points per $1 at Loblaw banner grocery store, 20 points per $1 on PC Financial travel bookings, and 10 points per $1 everywhere else.
  • Mastercard Global Services replaces your card or offers a cash advance in emegencies.
  • Add up to four authorized users for free.



$0



21.99% / 22.97%


10x-45x Points



N/A

Why we like it

This card offers incredible accelerated earn rates on spending at the types of retailers people use every day — drug stores, grocery stores and gas stations — in addition to a high earn rate on trips booked through President’s Choice Travel.

Pros

  • Quickly rack up points toward free groceries, gas, drug store purchases and travel.
  • A rare World Elite Mastercard with no annual fee.

Cons

  • Points can only be earned and redeemed at participating Loblaw-owned stores, Shopper’s Drug Mart/Pharmapix, and Esso gas stations. You must wait until you have at least 10,000 points before redeeming rewards, and you can’t transfer them to other loyalty programs.
  • No airport lounge access, despite being a World Elite card.
  • 45x PC Optimum points per dollar on Shoppers Drug Mart purchases.
  • 30x PC Optimum points per dollar on Loblaw-brand grocery store purchases.
  • 30x PC Optimum points per dollar per litre of gas purchased at Esso Mobil.
  • 30x PC Optimum points per dollar on PC Travel purchases.
  • 10x PC Optimum points per dollar on all other purchases.
  • Redeem a minimum of 10,000 points for free products and groceries at participating stores (in person and online).
  • No annual fee.
  • 24/7 concierge service to make dinner reservations, reserve event tickets, deliver gifts and more.
  • Access to identity theft services to help you avoid identity theft or restore your identity if stolen.
  • Four types of insurance provided, including 10-day travel medical benefits for those under age 65.
  • Preferred rates: 20.97% for purchases, 22.97% for cash advances.
  • To be eligible, $80,000 (individual) or $150,000 (household) annual income is required. Also, you must have a Canadian credit file and be a Canadian resident of the age of majority in the province or territory where you live.



$120



21.99% / 22.97%


10x-50x Points


Up to 150,000 Points
Why we like it

With accelerated earn rates at grocery stores and at gas pump, loyal Loblaws shoppers can get a lot of the PC Insiders World Elite Mastercard.

Pros

  • High earn rate (up to 50 PC Optimum points per CAD spent).
  • Unlimited online grocery delivery and pickups for free.
  • Includes insurance, such as travel and car rental coverage.

Cons

  • Higher earn rates are only available at certain stores.
  • Minimum income requirement may disqualify some applicants ($80,000 for individuals, or $150,000 per household).
  • $120 annual fee.
  • Earn 50 PC Optimum points per $1 at Shoppers Drug Mart stores, 40 points per $1 at Loblaw banner grocery stores, 10 points per $1 everywhere else, plus 7¢ per litre in points at Esso and Mobil stations in Canada.
  • Travel emergency medical insurance included.
  • Rental car coverage included.
  • Additional cardholders are free.
  • Mastercard Global Services replaces your card or offers a cash advance in emergencies.
  • Unlimited free online grocery delivery and pickups (and complimentary PC Express Pass (valued at $99.99 per year).

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Methodology to choose the best rewards credit cards

NerdWallet Canada selects the best rewards credit cards based on overall consumer value as well as their suitability for specific kinds of consumers. Factors in our evaluation methodology include each card’s cash-back earning rates, rewards structure (such as flat-rate or bonus categories), annual fee, redemption options, promotional APR period for purchases, bonus offers for new cardholders, and noteworthy features such as insurance, loyalty bonuses or the ability to choose one’s own rewards categories.

Summary of PC Financial credit cards

What to know about PC Financial’s credit cards

Benefits and drawbacks of PC Financial credit cards

Weigh up the pros and cons of PC Financial credit cards before you apply to make sure their cards are right for you.  

Pros of a PC Financial credit card

  • Many of PC Financial’s credit cards do not charge an annual fee. 
  • You can redeem points online and in-person, at select locations. 
  • The President’s Choice Financial World Elite Mastercard and PC Insiders™ World Elite Mastercard offer both travel insurance and rental car coverage. 
  • PC Financial’s credit cards have high earn rates for PC Optimum collectors (between 10 and 50 points per CAD spent, depending on the card and store).

Cons of a PC Financial credit card

  • The higher earn rate only applies to purchases made in select stores and services. 
  • The President’s Choice Financial Mastercard and World Mastercard have limited insurance offerings. 
  • Three of the four cards do not have welcome offers, as of this writing. 

What is PC Optimum?

PC Optimum is the rewards program from President’s Choice Services. Users can earn points at participating stores across Canada and redeem them at select locations. You don’t need to have a PC Financial credit card to start collecting PC Optimum points, membership is free and open to Canadian residents over the age of 14.  

How to earn PC Optimum points

You can earn PC Optimum points at over 4,500 gas stations, grocery stores and other participating locations. Search places you can earn points near you by visiting their website and entering your location. 

How to redeem PC Optimum points

You can redeem PC Optimum points online or in-store at any participating location. For example, you can use the points you collect to pay for items at Joe Fresh, or gas at Esso. 

PC Financial credit card features

Learn more about PC Financial’s credit card lineup through these key features.  

PC Financial credit card promotions

The PC Insiders World Elite Mastercard is the only credit card from PC Financial with a welcome offer, as of this writing. New cardholders can earn 150,000 PC Optimum points when they spend $3,000 or more within the first four months. 

PC Financial credit card interest rates

The following interest rates apply to all four of PC Financial’s credit cards, as of this writing:

  • Purchase: 21.99%.
  • Cash advance: 22.97% (21.97% in Quebec).
  • Penalty: 26.99% for purchases and 27.95% for cash advances may go into effect if you miss a payment.  

PC Financial credit card fees

You can expect to pay the following fees on PC Financial credit cards, as of this writing. 

  • Annual fee: $0 ($120 for the PC Insiders™ World Elite Mastercard).
  • Balance transfer fee: 5%.
  • Cash advance fee: $5 to $7.50.
  • Foreign transaction fee: 2.5%.
  • Dishonoured payment fee: $42.
  • Over-limit fee: $29 ($0 for Quebec residents).

PC Financial credit card insurance

Travel emergency medical insurance: President’s Choice Financial World Elite and PC Insiders World Elite cardholders, under the age of 65, can enjoy up to $1,000,000 of coverage for the first ten days of a trip. 

Rental car theft and damage: President’s Choice Financial World Elite and PC Insiders World Elite cardholders get 31 days of coverage on rental vehicles in the event of damage or theft.    

Extended warranty and purchase protection: All of PC Financial’s cardholders get extended warranty and purchase protection. 

How to choose the best PC Financial card for you

Consider the following features when deciding which PC Financial credit card is right for you. 

  • Annual fee. While most of PC Financial’s credit cards have no annual fee, the PC Insiders World Elite Mastercard costs cardholders $120 per year. Getting a card with an annual fee only makes sense if the benefits of the card outweigh the cost. 
  • Interest rate. All of PC Financial’s credit cards offer the same interest rate (21.99%). If you know you’ll carry a balance from month to month, you may want to consider a low-rate credit card instead. 
  • Earn rates. Look at the specific earn rates for each of PC Financial’s credit cards. The card that earns the most points at the store you shop at regularly will likely be the best fit. 
  • Income requirements. Most of PC Financial’s credit cards require you to have a minimum annual income to apply, ranging from $50,000 to $80,000 for individuals. The exception is the President’s Choice Financial Mastercard, which does not have any income requirements. 

How to apply for a PC Financial credit card

You can apply for a PC Financial credit card online via the company’s website. Just click on the ‘Apply now’ button and follow the online prompts. In general, you’ll need to submit your personal contact details, employment status and financial information to apply. 

Is a PC Financial credit card worth it?

If you’re a regular Loblaws shopper and enjoy collecting PC Optimum points, a PC Financial credit card may be a good fit. However, these cards are designed to earn and redeem points under the President’s Choice and Loblaws brands, which means you have to shop at their stores to get the most out of the rewards program. If you tend to shop more at, say, Walmart or Whole Foods, a different store credit card may make more sense.

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