PC® World Elite Mastercard®
Apr 23, 2025
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Overall rating
First year value
$438
Get this card if you:
- want to quickly rack up PC Optimum points
- want to avoid paying an annual fee
- want basic insurance benefits
Scores by category
Groceries 3.2
No Annual Fee 2.7
Rewards 2.3
At a glance
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.
Highlights
$438
First year value
$0
Annual fee
Interest Rates
21.99%
Purchase APR
5%
Balance transfer APR
22.97%
Cash advance APR
Eligibility
Fair
Recommended credit score
$80,000
Required annual personal income
Quick overview of the PC World Elite Mastercard
Looking for a no-fee card that rewards everyday spending? The PC World Elite Mastercard shines for loyal PC Optimum members who shop at Loblaws banner stores. You'll earn high points on groceries and gas, easily redeemable for free products and fuel discounts. While it delivers excellent value for Loblaws shoppers, the store-specific rewards structure might feel limiting compared to other rewards cards with broader earning potential.
Who’s the PC World Elite Mastercard for?
- Frequent PC banner stores shoppers (Loblaws, No Frills, Superstore, Shoppers Drug Mart)
- Families with substantial grocery budgets seeking accelerated points earning
- Shoppers who prefer PC Optimum points over cash back rewards
- Esso and Mobil customers wanting to earn on fuel purchases
- No-annual-fee seekers who still want premium earning potential
- Shoppers Drug Mart regulars benefiting from higher earn rates
Pros and cons
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
PC® World Elite Mastercard® welcome bonus
The PC Financial World Elite Mastercard comes with a simple-to-achieve welcome bonus:
We estimate that this sign-up bonus has a value of around $.
How to earn PC Optimum points with PC World Elite Mastercard
The PC® World Elite Mastercard® has the best overall earn rates offered among all three PC Financial® credit cards:
- Earn 45 points per $1 spent at Shoppers Drug Mart/Pharmaprix
- Get at least 30 points per litre of gas purchased at Esso™ or Mobil™ stations
- Earn 30 points per $1 spent on PC Travel services
- 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.)
All other purchases earn 10 points per $1 spent. Make sure to keep an eye out for special events as well which will allow you to earn points at a higher rate.
What are PC Optimum points worth?
PC Optimum points are valued at 1000 points = $1. This valuation works out to a value of $0.001 cents per point.
How to redeem rewards with the PC® World Elite Mastercard®
PC Financial makes redeeming rewards easy. You can exchange your PC Optimum points for products or groceries at participating stores or online, and for gasoline discounts and free car wash packages at Esso stations.
Don’t worry about losing your points — PC Optimum don’t expire as long as you keep your account active and in good standing.
The PC Optimum program offers impressive redemption flexibility across a massive network of over 2,500 locations nationwide. Your points can be exchanged for groceries and merchandise at:
- Loblaws and Loblaws City Market
- Real Canadian Superstore
- No Frills
- Zehrs
- Fortinos
- Your Independent Grocer
- Atlantic Superstore
- Provigo
- Maxi
- Shoppers Drug Mart and Pharmaprix
- Esso and Mobil gas stations (for fuel discounts and car wash packages)
- Joe Fresh (for clothing and accessories)
- PC Express online grocery ordering
If you’re looking to maximize convenience, the wide availability of redemption locations is unmatched by competing rewards programs in Canada.
Key benefits of the PC World Elite Mastercard
The PC World Elite Mastercard stands out as a no-annual-fee option that delivers premium rewards for everyday spending. Beyond its robust earning structure, this card offers comprehensive protections including purchase assurance, extended warranty coverage, and mobile device insurance and more.
Cardholders earn an impressive 30 PC Optimum points per dollar at Loblaws banner stores—equivalent to a 3% return—and an even higher 45 points per dollar at Shoppers Drug Mart, representing a 4.5% cash back value. When filling up at Esso and Mobil stations, you'll collect 30 points per litre, while all other purchases earn a solid 10 points per dollar (1% return).
PC® World Elite Mastercard® insurance coverage
While it’s missing more extensive insurance coverage you might get with a rewards credit card that charges an annual fee, the PC® World Elite Mastercard® does include a few valuable protections:
| Insurance | Coverage amount |
|---|---|
| Extended warranty | 1 year |
| Purchase protection | 90 days |
| Emergency medical coverage | 10 days (under 65) |
| Car rental insurance | $65,000 coverage for up to 31 consecutive days |
If you’re looking for a credit card with a more comprehensive suite of protections, check out our list of credit cards with great travel insurance.
In reviewing various online discussions regarding the PC World Elite Mastercard, it’s clear that people appreciate that the card has no annual fee. In fact, many users in this Reddit thread compare the World Elite favourably to the recently launched PC Insiders World Elite Mastercard, which offers slightly higher earn rates but charges a $120 annual fee. According to one user, the (PC Insiders card) “is a mediocre card and not worth the annual fee.” Another user replied, “I use a PC World Elite for my grocery shopping and was pretty disappointed when I saw this offer (from the PC Insider’s World Elite card).”
Other commenters have noted that the PC World Elite Mastercard is worthwhile if you shop at Loblaws partner stores, but if not, other cards are better. For example, the CIBC Costco Mastercard is a better option for loyal Costco shoppers. Ultimately, the best card depends on where you do most of your grocery shopping.
I think it's pretty amazing for a no fee card if you shop at their stores. 3% at the grocery stores, 3c per litre off at Esso and 4.5% off Shoppers are all really great. My parents have it since they primarily use No Frills for grocery and they love it
Reddit user u/Spikemountain
How does the PC World Elite Mastercard compare
5% cash back
Welcome Bonus
$401
First Year Value
$276
Annual Value
Welcome Bonus: Get up to 5% cash back in your first 3 months and a 0.99% introductory interest rate on Balance Transfers for 9 months with a 2% transfer fee.† Expires Jan 31, 2026
Get this card if you...
- want to earn cash back on everyday purchases
- value the flexibility to redeem cash back at any time
- value a great welcome offer
Annual Fee & Annual Interest Rates
$0
Annual Fee
21.99%
Purchase
23.99%
Cash Advance
23.99%
Balance Transfer
Our Take
The BMO CashBack® Mastercard®* is a no-annual-fee credit card that allows cardholders to earn cash back on everyday purchases, with elevated rates for categories such as groceries and recurring bill payments. It offers flexible redemption options and includes benefits like purchase protection and extended warranty.
Eligibility
Good (620 - 670)
Recommended Credit Score
Pros
- No Annual Fee: A rare find in Canada for a cash back card
- A generous 3% cash back on groceries (up to $500 monthly)
- Easily redeem from $1, set up automatic redemptions, or use as a statement credit
- Additional perks include discounts on rentals, free supplementary cards and show discounts
Cons
- Outside of groceries and recurring payments, the standard earn rate drops to 0.5%
- Monthly caps on top earn rates for groceries and recurring payments
- A 2% balance transfer fee applies
- The interest rate on the remaining balance transfer amount increases after the introductory period
Annual Interest Rates
21.99%
Purchase
23.99%
Cash Advance
23.99%
Balance Transfer
0.99%
Balance Transfer (Introductory)
Fees
$0
Annual Fee
Rewards cash back
3%
Cardholders earn 3% (up to a monthly max of $500) cash back on groceries
1%
Cardholders can earn 1% (up to $500 per month) on any recurring bill payments*
0.5%
Cardholders can earn 0.5% (no monthly max) on all other eligible purchases*
Get up to 5% cash back in your first 3 months and a 0.99% introductory interest rate on Balance Transfers for 9 months with a 2% transfer fee.†
Plus, enjoy three months of Instacart+ and a $5 monthly Instacart credit when you enroll your eligible BMO Credit Card.*
*Terms and Conditions Apply
Our Take
The BMO CashBack® Mastercard®* is a no-annual-fee credit card that allows cardholders to earn cash back on everyday purchases, with elevated rates for categories such as groceries and recurring bill payments. It offers flexible redemption options and includes benefits like purchase protection and extended warranty.
Eligibility
Good (620 - 670)
Recommended Credit Score
Pros
- No Annual Fee: A rare find in Canada for a cash back card
- A generous 3% cash back on groceries (up to $500 monthly)
- Easily redeem from $1, set up automatic redemptions, or use as a statement credit
- Additional perks include discounts on rentals, free supplementary cards and show discounts
Cons
- Outside of groceries and recurring payments, the standard earn rate drops to 0.5%
- Monthly caps on top earn rates for groceries and recurring payments
- A 2% balance transfer fee applies
- The interest rate on the remaining balance transfer amount increases after the introductory period
Annual Interest Rates
21.99%
Purchase
23.99%
Cash Advance
23.99%
Balance Transfer
0.99%
Balance Transfer (Introductory)
Fees
$0
Annual Fee
Rewards cash back
3%
Cardholders earn 3% (up to a monthly max of $500) cash back on groceries
1%
Cardholders can earn 1% (up to $500 per month) on any recurring bill payments*
0.5%
Cardholders can earn 0.5% (no monthly max) on all other eligible purchases*
Get up to 5% cash back in your first 3 months and a 0.99% introductory interest rate on Balance Transfers for 9 months with a 2% transfer fee.†
Plus, enjoy three months of Instacart+ and a $5 monthly Instacart credit when you enroll your eligible BMO Credit Card.*
*Terms and Conditions Apply
The BMO CashBack Mastercard provides a generous 3% (up to a monthly max of $500) cash back on groceries. When it comes to grocery spending, it offers more flexibility than the PC World Elite because cardholders are not tied to Loblaws and its partner stores to access the higher earn rate. But there’s a catch. The BMO card's grocery category cash back is capped . Once you exceed the cap, the rate drops to 0.5%, which is not competitive.
The PC World Elite doesn’t place a spending cap on groceries. Also, while the PC World Elite’s insurance coverage is limited, it offers more than the BMO CashBack Mastercard, which does not include any travel-related insurance coverage.
Disclosures:
- *Terms and conditions apply.
-
BMO is not responsible for maintaining the content on this site. Please click on the Apply now link for the most up to date information.
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 Card is a no annual fee cash back Mastercard from one of Canada’s leading digital banks. It stands out for its generous welcome bonus. It also offers more reward flexibility than the PC World Elite. You can 2% back on two categories of your choice. Get a Tangerine Savings account and add a third 2% cash back category.
Of course, the cash back rate is lower than PC World Elite’s highest earn rates. The Tangerine Money Back does not offer any travel insurance coverage. If you spend regularly at Loblaws, Shopper’s Drug Mart, and their partner stores, the PC World Elite is likely your best bet. If you prefer reward flexibility and don’t need any insurance coverage, you may want to consider the Tangerine Money Back.
Disclosures:
- *Terms and Conditions apply
$282
First Year Value
$0
Annual Value
Get this card if you...
- frequently shop at Loblaw stores
- want to accelerate your PC Optimum points
- want to avoid paying an annual fee
Annual Fee & Annual Interest Rates
$0
Annual Fee
21.99%
Purchase
22.97%
Cash Advance
22.97%
Balance Transfer
Our Take
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.
Eligibility
Good (620 - 670)
Recommended Credit Score
$15,000
Required Annual Personal Income
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
Annual Interest Rates
21.99%
Purchase
22.97%
Cash Advance
22.97%
Balance Transfer
Fees
$0
Annual Fee
Rewards PC points
10 points
Earn 10 points per $1 spent everywhere
2 cents
Earn 2c per litre in PC Optimum points at Esso and Mobil
30 points
Earn 30 points per $1 when purchasing travel through President’s Choice
25 points
Earn 25 points per $1 at Shoppers Drug Mart and Pharmaprix
Our Take
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.
Eligibility
Good (620 - 670)
Recommended Credit Score
$15,000
Required Annual Personal Income
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
Annual Interest Rates
21.99%
Purchase
22.97%
Cash Advance
22.97%
Balance Transfer
Fees
$0
Annual Fee
Rewards PC points
10 points
Earn 10 points per $1 spent everywhere
2 cents
Earn 2c per litre in PC Optimum points at Esso and Mobil
30 points
Earn 30 points per $1 when purchasing travel through President’s Choice
25 points
Earn 25 points per $1 at Shoppers Drug Mart and Pharmaprix
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.
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® World Elite Mastercard® worth it?
The PC World Elite Mastercard is worth getting if you shop frequently at Loblaw stores, including Shoppers Drug Mart, and are already collecting PC Optimum rewards points. With no annual fee, it only makes sense to boost your rewards-earning using this PC-branded credit card. If you don’t shop at Loblaw stores or are searching for other benefits in a rewards credit card, such as comprehensive insurance coverage or the ability to redeem rewards for travel, then the card is not worth it.
PC® World Elite Mastercard eligibility requirements
To qualify for a PC World Elite Mastercard, you must be a Canadian resident and of the age of majority in the province where you reside. Additionally, you’ll need to meet the minimum income threshold of $80,000 per individual or $150,000 per household.
Ready to apply for the PC® World Elite Mastercard®? Here’s what you need to do:
- 1 1Ensure that you meet the eligibility requirements as listed above.
- 2 2Visit the website here and click the red ‘Apply now’ button.
- 3 3You’ll be asked if you already have a PC Financial® account. If you do, great. It just means all your information is on file and ready to go in your account. If not, that’s ok! You can create an account now.
- 4 4You’ll be given an application disclosure summary again with the eligibility requirements, as well as the fine print details. Give it a read over and then tick the box that you have read and accept.
- 5 5Fill in the application form. You will be asked to provide some personal details, your employment info, if you want to add an additional user or any optional extras to the account, etc. Filling this information out should only take you a few minutes.
- 6 6Review your application and submit.
Approval should be very quick. Once you are approved it takes about 5-7 business days for your card to arrive in the mail.
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.
FAQs
Colin Graves
Freelance Writer
Colin Graves is a Winnipeg-based financial writer and editor whose work has been featured in publications such as Time, MoneySense, MapleMoney, Retire Happy, The College Investor, and more. Before becoming a full-time writer, Colin was a bank manager for over 15 years.
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.