Best PC Financial Credit Cards in Canada for 2024
Aug 13, 2024PC Financial offers four Mastercards, each with varying ways to earn PC Optimum points.
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.
Compare PC Financial credit cards
Rewards breakdown
Rewards breakdown
NerdWallet's take
NerdWallet's take
Card details
Card details
Rewards breakdown
Rewards breakdownNerdWallet's take
NerdWallet's takeCard details
Card details
Rewards breakdown
Rewards breakdownNerdWallet's take
NerdWallet's takeCard details
Card details
Rewards breakdown
Rewards breakdownNerdWallet's take
NerdWallet's takeCard details
Card detailsMethodology
BACK TO TOPNerdWallet 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.
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.
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% (22.97% 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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