PC Insiders World Elite Mastercard Review 2024: Earn the Most PC Optimum Points In Canada

• Earn a welcome bonus of 150,000 PC Optimum points when you spend $3,000 or more within the first four months.
• $120 annual fee
• Earn 40 PC Optimum points per dollar at Loblaw-banner grocery stores.
• Earn 50 PC Optimum points per dollar at Shoppers Drug Mart.
• Earn $0.07 per litre on gas at Esso and Mobil stations.
• Earn 10 PC Optimum points per dollar on purchases everywhere else.
• Get a complimentary PC Express Pass ($99.99 per year) that gives you free grocery delivery and pickup on eligible orders of $35 or more.
• Built-in $1 million travel emergency medical insurance for first 10 days
• Car rental collision/loss damage waiver insurance for 31 days
• Purchase assurance and extended warranty

The PC Insiders World Elite Mastercard is a new addition to the roster of PC Mastercards currently available. Thankfully, this card is not just new, but an improvement on what the other cards currently offer and can seriously benefit those who shop at Loblaw-owned grocery stores and Shoppers Drug Mart. Cardholders can earn 40 PC Optimum points per dollar on these purchases—more than even the current PC World Elite Mastercard offers.

The card offers even more PC Optimum points at Shoppers Drug Mart, earning 50 PC Optimum points per dollar on purchases there. What’s more, this credit card rewards gas at Esso and Mobil stations too, earning $0.07 per litre when you fill up at one of these stations. Cardholders will also earn 10 PC Optimum points per dollar on all other spending.

As a welcome bonus, the PC Insiders World Elite Mastercard offers 150,000 PC Optimum points when you spend $3,000 or more within the first four months. This translates to a $150 value.

A major downside of this card is its $120 annual fee, so be sure it will be offset by your reward earnings if this is your primary card.

Aside from that, this card doesn’t offer much in the way of insurance and perks—especially for a card with a $120 annual fee. You’ll get $1 million in travel emergency medical coverage and auto rental collision/loss damage waiver insurance, but that’s it for the travel coverage.

It also includes purchase assurance and extended warranty, but compared to other credit cards with similar annual fees, it leaves something to be desired. Probably the most significant downside of this card is that it provides little benefit when used outside of the PC Optimum ecosystem (Loblaw-banner stores, Shoppers Drug Mart, Esso and Mobil)—and these aren’t always the most affordable places to shop.

• A welcome bonus of 150,000 PC Optimum points when you spend $3,000 or more within the first four months
• $120 annual fee
• Earn 40 PC Optimum points per dollar at Loblaw-banner grocery stores and 50 PC Optimum points at Shoppers Drug Mart.
• Add up to four additional cardholders to your account at no extra cost

Earning Rewards

The PC Insiders World Elite Mastercard earns PC Optimum points on all eligible purchases. It will earn you the most points at Shoppers Drug Mart at a rate of 50 PC Optimum points per dollar. Shopping at Loblaw-banner grocery stores earns a close second, with 40 PC Optimum points per dollar earned. All other spending will earn a rate of 10 PC Optimum points per dollar. You’ll also earn rewards in the form of cash back at Esso and Mobil gas stations at a rate of $0.07 per litre.

Redeeming Rewards

You can utilize your points to cover most purchases at either Shoppers Drug Mart, Loblaw banner stores and Esso or Mobil. When you reach the checkout, simply ask about using your PC Optimum points. It’s important to note that you must redeem them in increments of 10,000 points, which are equal to $10.

At Esso stations, the redemption process varies slightly, offering two options. You can either use 4,000 points to receive a discount of 10 cents per litre on fuel (up to 40 litres)—resulting in $4 in savings—or redeem 10,000 points for a car wash, which can save you up to $15.

Rewards Potential

Depending on your spending habits and where you tend to spend, the PC Insiders World Elite Mastercard can earn a lot of rewards.

Forbes Advisor estimates that the PC Insiders World Elite Mastercard could earn $706.19 worth of PC Optimum points per year—but only if you buy your groceries at Loblaw-owned grocery stores and gas up your vehicle at Esso or Mobil. When you factor in the annual $120 fee, this card still earns $586.19 worth of PC Optimum points, which is an impressive amount.

• Generous welcome bonus worth $150
• Earns 50 Optimum Points per dollar at Shoppers Drug Mart
• Earns 40 Optimum Points per dollar at Loblaw-banner grocery stores
• Built-in $1 million travel emergency medical coverage and rental car collision/loss damage waiver insurance for up to 31 days

Interest Rates

• Regular APR Min: 21.99%
• Cash Advance APR: 21.97%
• Balance Transfer APR: 22.97%

Fees

• Cash Advance Fee: $5
• Balance Transfer Fee: 1% (up to 5%)
• Foreign Transaction Fee: 2.5%
• Annual Fee: $120
• Any Other Fees:
  • Cash advance outside Canada: $7.50
  • Overlimit charge: $29 (for Quebec residents: $0),
  • Wire transfer or money order: 1%
  • Dishonoured payment or convenience cheque: $42
  • Inactive account: $10 or the credit balance amount if there has been no activity on your account (meaning no debits, credits, interest or fees) for the preceding 12 consecutive months.

PC Insiders World Elite Mastercard vs. PC World Elite Mastercard

In terms of its earning scheme and benefits, these are probably the two most similar cards in the PC credit card slate. The PC World Elite Mastercard earns 30 points per dollar at Loblaw-banner stores, 45 points per dollar at Shoppers Drug Mart, 30 points per litre at Esso and Mobil, and 10 points per dollar everywhere else.

Like the PC Insiders World Elite, it also comes with $1 million emergency medical travel coverage and rental car collision/loss damage waiver coverage, though it lacks the purchase assurance and extended warranty coverage the PC Insider World Elite Mastercard provides. All that to say, while the PC Insiders card earns slightly more points at Loblaw-owned stores and at Shoppers, the PC World Elite card has a major advantage—no annual fee. It earns $429.24 with Loblaw purchases, which is only slightly lower than the $586.19 in annual earnings the PC Insiders World Elite can give you with the annual fee factored in.

PC Insiders World Elite Mastercard vs. BMO Eclipse Visa Infinite

The PC Insiders World Elite Mastercard and the BMO Eclipse Visa Infinite are comparable in that they both have a $120 annual fee and boast accelerated earnings on grocery purchases. However, the BMO card’s earnings applies to all grocery purchases, not just at select stores. Both credit cards offer emergency medical travel insurance (though the BMO Eclipse Visa Infinite includes $5 million in coverage for up to 15 days, versus $1 million in coverage for up to 10 days), car rental coverage, purchase assurance and extended warranty. That said, the BMO Eclipse Visa Infinite has a solid welcome bonus and waives its $120 fee in the first year. The BMO Eclipse Visa Infinite also includes accelerated earnings on gas and dining, as well as mobile device insurance.

However, when you crunch the numbers, the BMO card earns slightly less per year, earning at estimated $432.99 in rewards after the annual fee is factored in, which is a little less than the $586.19 earned from PC Insiders World Elite Mastercard. However, the PC Insider earnings only apply to Loblaw-banner stores and Esso/Mobil gas purchases, so the BMO Eclipse may be the better card for you, depending on where you shop.

PC Insiders World Elite Mastercard vs. Scotiabank Gold American Express Card

The PC Insiders World Elite Mastercard and the Scotiabank Gold American Express Card both have a $120 annual fee and earn points in major rewards programs. Still, the Scotiabank Gold earns accelerated 6 Scene+ points per dollar at grocery stores owned by Sobeys’ parent company. Meanwhile, it still earns 5 Scene+ points per dollar at other grocery stores and it also has a more robust offering of travel insurance varieties, including $1 million travel emergency medical (for up to 25 days, age 64 and under), trip interruption, flight delays, travel accidents, rental car collision and hotel burglaries. It also includes purchase security and extended warranty and the rare, but highly coveted, mobile device insurance. It also includes Amex perks and boasts no foreign transaction fees. Plus, Scene+ points are significantly more flexible than PC Optimum points. Overall, the Scotiabank Gold American Express card earns more than the PC Insider World Elite Mastercard by far, raking in an estimated $823.12 per year with the annual fee factored in—compared to the PC Insider World Elite’s earnings of $586.19. But, remember that the Scotiabank Gold it still is an American Express, so it may not be as widely accepted as a Mastercard.

When determining a rating for individual credit cards, the Forbes Advisor Canada editorial team factors in an exhaustive list of data points. With this card, the scoring model used takes into account factors such as, but not limited to, reward rates and categories, fees, welcome bonuses, and other benefits and features.

In calculating earning potential for cards, we tallied what the average Canadian spends every year for each rewards category. Forbes Advisor uses data from multiple government agencies in order to determine both baseline income and credit card spending averages across various categories.Keep in mind, what may be best for some people might not be right for you. Conduct informed research before deciding which cards will best help you achieve your financial goals.

If you’re a frequent shopper at Loblaw-owned grocery stores, Shoppers Drug Mart and Esso or Mobil, this card can provide solid rewards. That said, if you need more than just a little travel insurance coverage, or want to earn more on grocery spending overall, there are superior cards on the market that hover around the same $120 annual price tag as this card.