PC World Elite Mastercard Review 2024

• No annual fee
• Earns 30 PC Optimum points per dollar spent at Loblaw-banner stores
• Earns 45 PC Optimum points per dollar at Shoppers Drug Mart
• Earns 30 PC Optimum points (minimum) per litre at Esso and Mobil gas stations
• Earns 10 PC Optimum points per dollar on everything else
• Your rewards could add up to $278.52 a year in rewards value (or $429.24 with Loblaw purchases), according to Forbes Advisors calculations based on average spending among Canadians
• Includes travel emergency medical insurance for trips up to 10 days from date of departure, for people under age 65
• Includes car rental collision/loss damage waiver insurance for up to 31 consecutive days

The PC Financial World Elite Mastercard has no annual fee and plenty to offer—especially if you frequently fill up your grocery cart at Loblaw-banner stores, gas up at Esso or buy toiletries at Shoppers Drug Mart.

This credit card is surefire way to boost your PC Optimum points collection, consider it earns 30 PC Optimum points per dollar at Loblaw-owned grocery stores, like No Frills and Real Canadian Superstore, 45 points per dollar at Shoppers Drug Mart, 30 points per dollar at Esso and Mobil and 10 points per dollar everywhere else.

This card has a few useful perks too. It offers emergency medical insurance, car rental collision/loss waiver insurance and 24/7 concierge service.

That said, while it offers good rewards potential, the focus on Loblaw-centric rewards may feel limiting for some, especially those who prefer a card that allows them to shop around at different chains for the best deal.

• Earns 30 PC Optimum points per dollar spent at Loblaw-banner stores
• Earns 45 PC Optimum points per dollar at Shoppers Drug Mart
• Built-in travel emergency medical insurance and car rental collision/loss damage waiver insurance

Earning Rewards

This card earns points on all spending, but most heavily rewards spending at stores owned by Loblaw or at Esso and Mobil gas stations. Cardholders will earn 30 PC Optimum points per dollar spent at Loblaw-banner stores, 45 PC Optimum points per dollar at Shoppers Drug Mart and 30 PC Optimum points (minimum) per litre at Esso and Mobil gas stations. All other spending earns 10 PC Optimum points per dollar.

Redeeming Rewards

Once you hit 10,000 points, you can redeem them for up to $10 worth of free items at participating stores or online at Beautyboutique.ca, JoeFresh.ca, and PC Express websites. You can save your points to get up to a maximum of $500 off on any single purchase.

Essentially, you can only redeem your PC Optimum points for purchases at participating stores, meaning the same ones you earn them at. While this may work for some, it’s a big drawback compared to other points programs, like Scene+ and Aeroplan, that allow you to redeem points for everything from travel, merchandise and statement credits.

Rewards Potential

This card earns a decent amount of points, especially for a credit card with no annual fee. Based on average Canadian spending, Forbes Advisor estimates that cardholders could earn up to $278.52 a year worth of Optimum points with this card—or $429.24 with exclusively Loblaw purchases.

• Earns 45 PC Optimum points per dollar at Shoppers Drug Mart
• Earns 30 PC Optimum points per dollar at Loblaw-banner grocery stores
• Earns 30 PC Optimum points per dollar at Esso and Mobil gas stations
• Travel and car rental insurance

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: $0
• Any Other Fees:
  • Cash advance outside Canada: $5
  • Overlimit charge: $29
  • Wire transfer or money order: 1% (minimum $5, maximum $10)
  • 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 World Elite Mastercard vs. PC Insiders World Elite Mastercard

These two cards from the PC credit card lineup are quite similar. The PC Insider World Elite earns slightly more: 40 points per dollar at Loblaw banner stores, 50 points per dollar at Shoppers Drug Mart, $0.07 points per litre at Esso and Mobil, and 10 points per dollar everywhere else. Both cards offer emergency medical travel coverage and rental car collision/loss damage waiver coverage. However, the PC Insiders card also includes purchase assurance and extended warranty coverage.

While the PC Insiders card earns slightly more points at Loblaw stores and at Shoppers, the PC World Elite card stands out with its major advantage of no annual fee. However, with $429.24 in earnings from Loblaw purchases, the PC World Elite still earns less than the $586.19 in annual earnings from the PC Insiders World Elite once you factor in the annual fee.

PC World Elite Mastercard vs. BMO CashBack World Elite Mastercard

The BMO World Elite Mastercard definitely wins in the flexibility department, in that it earns cash back. Aside from that, it has a $120 annual fee and cash-back earnings at a rate of 5% on groceries, 4% on transit, 3% on gas and 1% on all other spending. It also comes with more perks, like travel insurance and the rare perk of complimentary roadside assistance.

However, when it comes down to it, it earns only slightly more per year than the $429.24 earned by the PC World Elite, earning $490.07 in net cash back per year with the annual fee factored in. But keep in mind, the BMO card rewards you heavily on groceries, regardless of where you shop. Plus, the BMO CashBack World Elite does have more to offer in terms of rewards, perks and flexibility—if you can handle the annual fee.

PC World Elite Mastercard vs. SimplyCash Card from American Express

These two cards both boast no annual fee and big earnings on grocery spending. The Amex SimplyCash earns 2% on groceries and gas and 1.25% on all other spending.

In terms of perks and benefits, both of these cards are rather minimal. The SimplyCash only offers travel accident insurance, buyer’s assurance and purchase protection. Meanwhile, the PC Financial World Elite only offers travel emergency medical insurance and car rental collision/loss damage waiver insurance.

Overall, the SimplyCash wins in terms of flexibility and earnings, bringing in an estimated $489.37 per year, outweighing the $429.24 earned by the PC World Elite Mastercard and earning it regardless of which brand of grocery store you shop at.

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, rewards rates and categories, fees, welcome bonuses, and other benefits and features. 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 want a card that will reward spending at Loblaw-banner stores, Shoppers Drug Mart and at Esso or Mobil, this card is for you. Plus it has a couple of useful insurance coverages. However, if you value more flexibility in terms of points redemption or the ability to shop around at different stores, there are other credit cards on the market that can better reward your spending.