PC® Mastercard® review
Apr 23, 2025
While we adhere to strict editorial guidelines, partners on this page may provide us earnings.
Overall rating
First year value
$282
Get this card if you:
- frequently shop at Loblaw stores
- want to accelerate your PC Optimum points
- want to avoid paying an annual fee
Scores by category
Groceries 3.2
Rewards 2.8
No Annual Fee 2.5
At a glance
The PC® Mastercard® is a no-annual-fee credit card that allows cardholders to earn PC Optimum points on everyday purchases, with accelerated rates at Loblaw-affiliated stores, Shoppers Drug Mart, Esso, and Mobil gas stations. These points can be redeemed for groceries and merchandise at over 2,500 participating locations across Canada.
Highlights
$282
First year value
$0
Annual fee
Interest Rates
21.99%
Purchase APR
22.97%
Balance transfer APR
22.97%
Cash advance APR
Eligibility
Good
Recommended credit score
$15,000
Required annual personal income
Quick overview of the PC® Mastercard®
The PC Financial Mastercard is a no-annual-fee credit card that makes earning PC Optimum points easy. Every time you spend, you’re racking up points that can be redeemed for essential items such as groceries and gas. And, since there's no annual fee, it doesn’t cost you more money to earn these points.
Who’s the PC Mastercard® for?
- Regular shoppers at Loblaw-owned grocery stores who want to earn 10 PC Optimum points per dollar spent
- Shoppers Drug Mart customers looking to maximize rewards
- Esso and Mobil customers who want to earn at least 30 points per litre on gas purchases
- New credit card users looking for a no-annual-fee rewards card
Pros and cons
Pros
- No annual fee, ideal for budget-conscious shoppers
- Earn 10 points per $1 spent everywhere
- Accelerated points at Esso, Shoppers Drug Mart, and PC Travel
- Points redeemable at over 2,500 stores nationwide
- Purchase insurance and extended warranties for added protection
Cons
- Middle-of-the-road rewards compared to other no-fee cards
- Limited redemption options compared to some competitors
- Requires spending at specific stores for maximum benefits
- Point value may seem low initially, despite earning potential
PC® Mastercard® welcome bonus
The PC Mastercard comes with a very straightforward sign-up bonus:
How to earn rewards with the PC® Financial Mastercard®
Here's the rewards structure for the PC® Financial Mastercard®:
- Earn 10 points per $1 spent everywhere.
-
Earn 2c per litre in PC Optimum points at Esso and Mobil.
-
Earn 30 points per $1 when purchasing travel through President’s Choice.
-
Earn 25 points per $1 at Shoppers Drug Mart and Pharmaprix.
There’s no cap on how many points you can earn, which is a nice bonus.
Recommended Read: How to Maximize Your PC Optimum™ Points.
What are PC Optimum points worth?
The value of PC Optimum points is $0.001 per point.
How to redeem rewards with the PC Financial Mastercard
Once you’ve got at least 10,000 points (which equals $10), you can use them at checkout at any participating store. There’s no waiting around for a statement credit or dealing with blackout dates like with some other rewards programs. With the PC Financial Mastercard, you just show up and redeem your points.
Key benefits of the PC Mastercard
The PC Mastercard turns your everyday shopping into serious rewards. The card earns up to 30x on purchases, meaning your regular grocery runs and pharmacy visits actually pay you back in points you can redeem for free groceries and merchandise.
The PC Mastercard as one of the best no-fee cards in Canada. Unlike many rewards cards that charge you just for the privilege of carrying them, the PC Mastercard lets you earn rewards without any upfront cost. This means every point you earn is pure value – there's no annual fee to offset before you start seeing benefits.
Unlike other credit cards which feature massive welcome bonuses that are hard to reach due to steep spending requirements, the PC Mastercard welcome offer is breeze. What makes this welcome bonus stand out is how easy it is to earn – just one purchase, no minimum spending threshold required. It's like finding a $20 bill in your pocket right after you start using the card.
PC® Mastercard® insurance coverage
Insurance
Coverage amount
Purchase protection
90 days
Extended warranty
1 year
Opinions on the PC Financial Mastercard are pretty mixed, especially on forums like Reddit. Essentially, the card works best if you're maximizing the PC Optimum ecosystem with personal offers and frequent trips to participating stores. But if you’re looking for a more flexible, higher-earning rewards structure across different spending categories, some users suggest pairing the PC Optimum membership with another cashback card.
he credit card by itself is comparable to other cards, but if you combine it with a PC Optimum membership and take advantage of personal offers, you get a lot more reward points
Reddit user u/redditreader1924
- Mastercard Global Service™: 24/7 emergency assistance when traveling, including reporting lost or stolen cards, emergency card replacement, and emergency cash advances
- Worldwide acceptance: Use your card anywhere Mastercard is accepted globally
- Credit score and fraud monitoring: PC Financial® uses best-in-class fraud detection tools right from the start of your application. PC Financial® also offers optional products that can help you proactively monitor, manage and protect your valuable credit and personal information.
How does the PC Financial Mastercard compare
Let's see how the PC Financial mastercard compares to other great credit cards.
5% cash back
Welcome Bonus
$393
First Year Value
$243
Annual Value
Welcome Bonus: Earn 5% Cash Back†† on eligible gas and grocery purchases for the first 6 months (until the total gas and grocery purchases in the applicable month reaches $500).
Get this card if you...
- want to earn cash back on gas and groceries
- value a no-annual-fee card that still offers strong rewards
- want a flexible rewards program
Annual Fee & Annual Interest Rates
$0
Annual Fee
21.99%
Purchase
22.99%
Cash Advance
22.99%
Balance Transfer
Our Take
The MBNA Smart Cash Platinum Plus® Mastercard® is a no-annual-fee credit card that offers cash back on everyday purchases, with elevated rates for gas and groceries. Cardholders also benefit from features such as purchase assurance and extended warranty.
Eligibility
Good (620 - 670)
Recommended Credit Score
Pros
- Generous Welcome Bonus to earn accelerated rewards during the initial six months of account opening
- No annual fee
- Ongoing cash back rewards after the welcome bonus - up to 2% cash back on eligible purchases
- Car rental discounts
- MBNA Payment Plan: Flexible payment options for purchases over $100, which is a nice perk for budget management.
- Purchase assurance and extended warranty
Cons
- Monthly spend cap on the welcome bonus rewards earn rate
- Limited reward categories
- Potential fees for payment plan
- No travel rewards or premium perks
Annual Interest Rates
21.99%
Purchase
22.99%
Cash Advance
22.99%
Balance Transfer
Fees
$0
Annual Fee
2.50%
Foreign Transaction
3.00%
Balance Transfer
Rewards cash back
2%
Cash Back‡ on eligible gas and grocery purchases thereafter (until the total gas and grocery purchases in the applicable month reaches $500)
0.5%
Get 0.5% Cash Back‡ for all other eligible purchases
Insurance Benefits
$200,000
Rental car insurance amount
Earn 5% Cash Back on eligible gas and groceries purchases for the first 6 months†† ($500 monthly spend cap).
Our Take
The MBNA Smart Cash Platinum Plus® Mastercard® is a no-annual-fee credit card that offers cash back on everyday purchases, with elevated rates for gas and groceries. Cardholders also benefit from features such as purchase assurance and extended warranty.
Eligibility
Good (620 - 670)
Recommended Credit Score
Pros
- Generous Welcome Bonus to earn accelerated rewards during the initial six months of account opening
- No annual fee
- Ongoing cash back rewards after the welcome bonus - up to 2% cash back on eligible purchases
- Car rental discounts
- MBNA Payment Plan: Flexible payment options for purchases over $100, which is a nice perk for budget management.
- Purchase assurance and extended warranty
Cons
- Monthly spend cap on the welcome bonus rewards earn rate
- Limited reward categories
- Potential fees for payment plan
- No travel rewards or premium perks
Annual Interest Rates
21.99%
Purchase
22.99%
Cash Advance
22.99%
Balance Transfer
Fees
$0
Annual Fee
2.50%
Foreign Transaction
3.00%
Balance Transfer
Rewards cash back
2%
Cash Back‡ on eligible gas and grocery purchases thereafter (until the total gas and grocery purchases in the applicable month reaches $500)
0.5%
Get 0.5% Cash Back‡ for all other eligible purchases
Insurance Benefits
$200,000
Rental car insurance amount
Earn 5% Cash Back on eligible gas and groceries purchases for the first 6 months†† ($500 monthly spend cap).
The MBNA Smart Cash Platinum Plus card offers cashback on groceries and gas, which can be a solid option for everyday essentials. It also comes with a nice welcome bonus. However, the PC Financial Mastercard shines for anyone loyal to Loblaws and any other PC stores.
Disclosures:
- ‡, ††, ✪, Terms and Conditions apply.
-
‡, ††, ✪, Terms and Conditions apply.This offer is not available for residents of Quebec. For residents of Quebec, please click here.Sponsored advertising. MBNA is a division of The Toronto-Dominion Bank (TD) and TD is not responsible for the contents of this site including any editorials or reviews that may appear on this site. For complete information on this MBNA credit card, please click on the “Apply Now” button.The Toronto-Dominion Bank is the issuer of this credit card. MBNA is a division of The Toronto-Dominion Bank. ®MBNA and other-trademarks are the property of The Toronto-Dominion Bank.
10% cash back
Welcome Bonus
$484
First Year Value
$384
Annual Value
Welcome Bonus: Earn 10% cash back for 2 months† (up to $100). Expires Jan 30, 2026
Get this card if you...
- want flexible cash back categories
- want unlimited cash back
- want to avoid paying an annual fee
Annual Fee & Annual Interest Rates
$0
Annual Fee
19.95% - 24.95%
Purchase
19.95%
Cash Advance
1.95% - 19.95%
Balance Transfer
Our Take
The Tangerine Money-Back Credit Card is a no-annual-fee cash back card that allows cardholders to earn a higher cash back rate in two spending categories of their choice, such as groceries, gas, or restaurants, and a lower rate on all other purchases. By opening a Tangerine Savings Account and directing cash back earnings there, a third higher rate cash back category can be added. Additional benefits include purchase assurance and extended warranty protection, with cash back rewards automatically applied monthly.
Eligibility
Good (620 - 670)
Recommended Credit Score
$12,000
Required Annual Personal Income
Pros
- No annual fee
- Choose the spending categories where you want to earn the most cash back
- Unlimited cash back—no maximum spending limit for any purchase category
- Cash back is paid out monthly rather than annually
- Periodically includes a special welcome offer where you can get extra cash back
- 1.95% interest on balance transfers for the first 6 months (1% transfer fee applies)*
Cons
- Regular cash back rates are still lower than what you can get from a card with an annual fee
- Limited extra perks or benefits beyond the cash back and balance transfer promotion
- Generally not a good fit for shopping at warehouse clubs or wholesale grocers like Costco or Walmart
- Tangerine does not have any physical bank branches
Annual Interest Rates
19.95% - 24.95%
Purchase
19.95%
Cash Advance
1.95% - 19.95%
Balance Transfer
1.95%
Balance Transfer (Introductory)
24.95%
Penalty
Fees
$0
Annual Fee
2.50%
Foreign Transaction
3.00%
Balance Transfer
$3.5
Cash Advance
$25
Over The Limit Penalty
$25
Return Penalty
Rewards cash back
2%
Earn 2% cash back on 2 categories of your choice (e.g. groceries, recurring bills, gas, drug stores, etc.)
3
Get a Tangerine Savings account and add a 3rd 2% cash back category.
0.5%
Earn 0.50% on all your other everyday purchases.
Earn 10% cash back for 2 months† (up to $100).
Our Take
The Tangerine Money-Back Credit Card is a no-annual-fee cash back card that allows cardholders to earn a higher cash back rate in two spending categories of their choice, such as groceries, gas, or restaurants, and a lower rate on all other purchases. By opening a Tangerine Savings Account and directing cash back earnings there, a third higher rate cash back category can be added. Additional benefits include purchase assurance and extended warranty protection, with cash back rewards automatically applied monthly.
Eligibility
Good (620 - 670)
Recommended Credit Score
$12,000
Required Annual Personal Income
Pros
- No annual fee
- Choose the spending categories where you want to earn the most cash back
- Unlimited cash back—no maximum spending limit for any purchase category
- Cash back is paid out monthly rather than annually
- Periodically includes a special welcome offer where you can get extra cash back
- 1.95% interest on balance transfers for the first 6 months (1% transfer fee applies)*
Cons
- Regular cash back rates are still lower than what you can get from a card with an annual fee
- Limited extra perks or benefits beyond the cash back and balance transfer promotion
- Generally not a good fit for shopping at warehouse clubs or wholesale grocers like Costco or Walmart
- Tangerine does not have any physical bank branches
Annual Interest Rates
19.95% - 24.95%
Purchase
19.95%
Cash Advance
1.95% - 19.95%
Balance Transfer
1.95%
Balance Transfer (Introductory)
24.95%
Penalty
Fees
$0
Annual Fee
2.50%
Foreign Transaction
3.00%
Balance Transfer
$3.5
Cash Advance
$25
Over The Limit Penalty
$25
Return Penalty
Rewards cash back
2%
Earn 2% cash back on 2 categories of your choice (e.g. groceries, recurring bills, gas, drug stores, etc.)
3
Get a Tangerine Savings account and add a 3rd 2% cash back category.
0.5%
Earn 0.50% on all your other everyday purchases.
Earn 10% cash back for 2 months† (up to $100).
The Tangerine Money-Back Credit Card is cool because it gives you flexibility. You can choose your own cashback categories that fit your lifestyle, such as groceries, dining, or entertainment. This makes it a great option for someone looking for more control over where they earn rewards. But if you’re a loyal PC shopper you may value the emphasis on collecting PC Optimum points while you shop more.
Disclosures:
- *Terms and Conditions apply
$438
First Year Value
$0
Annual Value
Get this card if you...
- want to quickly rack up PC Optimum points
- want to avoid paying an annual fee
- want basic insurance benefits
Annual Fee & Annual Interest Rates
$0
Annual Fee
21.99%
Purchase
22.97%
Cash Advance
5%
Balance Transfer
Our Take
The PC Financial® World Elite Mastercard® is a no-annual-fee credit card designed for frequent shoppers at Loblaw-affiliated stores, offering elevated PC Optimum points on purchases at these retailers, including Shoppers Drug Mart and Joe Fresh. Cardholders benefit from perks such as 24/7 concierge service and travel emergency medical insurance; however, the card has a high income requirement, and its rewards are primarily limited to Loblaw banner stores.
Eligibility
Fair (300 - 619)
Recommended Credit Score
$80,000
Required Annual Personal Income
Pros
- No annual fee
- High earn rates in certain stores
- Easy, straightforward redemptions
- Points don’t expire provided your account stays active and in good standing
- Special events allow you to earn extra points
Cons
- High income requirement to qualify
- Accelerated earn rates are limited to certain partner stores, and points can be redeemed only for purchases within Loblaw banner stores
- Points can’t be transferred to other loyalty programs
- The included travel insurance is very limited
Annual Interest Rates
21.99%
Purchase
22.97%
Cash Advance
5%
Balance Transfer
Fees
$0
Annual Fee
Rewards PC points
45 points
* 45 points per $1 spent at Shoppers Drug Mart/Pharmaprix
30 points
Earn 30 points per litre for gas purchased at Esso™ or Mobil™ stations
30 points
Earn 30 points per $1 spent on PC Travel services
30 points
Earn 30 points per $1 spent at Loblaw Banner Grocery Stores (includes Loblaws, No Frills, Valu-Mart, Independent Grocers, Zehrs, Real Canadian Superstore, Fortinos, etc.)
10 points
Earn 10 points per $1 spent everywhere else
Insurance Benefits
$65,000
Rental car insurance amount
Our Take
The PC Financial® World Elite Mastercard® is a no-annual-fee credit card designed for frequent shoppers at Loblaw-affiliated stores, offering elevated PC Optimum points on purchases at these retailers, including Shoppers Drug Mart and Joe Fresh. Cardholders benefit from perks such as 24/7 concierge service and travel emergency medical insurance; however, the card has a high income requirement, and its rewards are primarily limited to Loblaw banner stores.
Eligibility
Fair (300 - 619)
Recommended Credit Score
$80,000
Required Annual Personal Income
Pros
- No annual fee
- High earn rates in certain stores
- Easy, straightforward redemptions
- Points don’t expire provided your account stays active and in good standing
- Special events allow you to earn extra points
Cons
- High income requirement to qualify
- Accelerated earn rates are limited to certain partner stores, and points can be redeemed only for purchases within Loblaw banner stores
- Points can’t be transferred to other loyalty programs
- The included travel insurance is very limited
Annual Interest Rates
21.99%
Purchase
22.97%
Cash Advance
5%
Balance Transfer
Fees
$0
Annual Fee
Rewards PC points
45 points
* 45 points per $1 spent at Shoppers Drug Mart/Pharmaprix
30 points
Earn 30 points per litre for gas purchased at Esso™ or Mobil™ stations
30 points
Earn 30 points per $1 spent on PC Travel services
30 points
Earn 30 points per $1 spent at Loblaw Banner Grocery Stores (includes Loblaws, No Frills, Valu-Mart, Independent Grocers, Zehrs, Real Canadian Superstore, Fortinos, etc.)
10 points
Earn 10 points per $1 spent everywhere else
Insurance Benefits
$65,000
Rental car insurance amount
If you meet the higher income requirements for the PC Financial World Elite Mastercard, you’ll enjoy even more points and added perks like concierge services and extended travel insurance. It’s a premium option for those who want the highest earning potential in the PC Optimum program.
However, the regular PC Financial Mastercard is still a fantastic choice for those who don’t meet the World Elite income thresholds. You’ll still earn points on all purchases and get significant bonuses at Loblaws-affiliated stores and Shoppers Drug Mart, without paying any annual fees.
Disclosures:
-
Sponsored advertising. President’s Choice Financial® Mastercard® is provided by President’s Choice Bank. The PC Optimum™ program is provided by President's Choice Services Inc. President’s Choice Bank is not responsible for the contents of this site, including any editorials or reviews that may appear on this site. For complete information regarding the PC® Mastercard®, PC® World Mastercard®, or PC® World Elite Mastercard®, please click on the “Apply Now” or other applicable button.
Is the PC Financial Mastercard worth it?
It depends on how much you plan to use it and where you shop the most.
If you're already a regular shopper at Loblaw-owned stores or gas up at Esso and Mobil, then yes, this card is worth it. You’ll earn decent rewards without paying an annual fee, and redeeming your points is straightforward and hassle-free.
This card might not make sense if you’re not a hardcore PC Optimum shopper or prefer cashback over rewards points.
PC Financial Mastercard card eligibility
To qualify for a PC Financial Mastercard you have to:
- Be a Canadian resident.
- Have reached the age of majority in your province or territory.
- Have an annual income of at least $15,000
- 1 Click on "Apply Now"
- 2 Complete the application form with your personal information
- 3 Review your information for accuracy (this helps speed up the approval process)
- 4 Submit your application
Note: Applying for one PC Mastercard is the same as applying for all the PC Mastercards. This means that you will be automatically paired with the right PC Financial credit card for your needs (based on your income, credit score and other factors).
FAQs
Zandile Chiwanza
Contributor
Zandile Chiwanza is a personal finance journalist, covering a wide range of money-related topics, including real estate, mortgages, insurance, interest rates and credit cards.
Cory Santos
Senior Reporter
Cory Santos is a finance writer, editor and credit card expert with nearly a decade of experience in personal finance. Cory joined Wise Publishing from BestCards, with bylines in numerous print and digital publications across North America, including the Miami Herald, BlogTO, Debt.ca, AOL, MSN and Medium as well as financial podcasts like KOFE Talk. He's also the creator and author of the annual Money.ca Credit Card Awards.
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†Terms and Conditions apply.