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President’s Choice Financial® Mastercard®

President’s Choice Financial® Mastercard®

*Earn 10 PC Optimum points2 for every $1 spent at Shoppers Drug Mart®, in addition to the 15 points per dollar of eligible purchases that all PC Optimum member earn

Our Rating:
Annual Fee Interest Rate Balance Transfer Cash Advance Credit Score Good: -- I've had a credit card, or loan for 6+ years. I've had good credit for the last 7 years (no bankruptcies or no defaults on credit as a result of failing to pay debts back to creditors). I haven't opened a new credit card account, loan, or line of credit in the last nine months. I've made the minimum payments on my existing credit cards for the past three months. Rewards Are all rewards created equal? From points, to miles, to cash back – how do you know how much you’re really getting? To help you find the best rewards card, we’ve created the Your Reward Return, an estimate on the dollar value of your rewards based on your monthly spend so that you can compare like for like. Now that’s wise thinking!
$0.00 19.97% 0.97% *22.97% after 6 months 22.97% Good 1.00% *Equivalent value in PC Optimum points
  • Card Details Details
  • Our Review Review

Card Details


  • 20,000 PC Optimum points after your first purchase!*

  • Earn 10 PC Optimum points for every $1 spent in Loblaw banner stores1 and 20 PC Optimum points for travel services at pctravel.ca4

  • Earn 10 PC Optimum points for every $1 spent, everywhere you shop5

  • New cardholders enjoy a low balance transfer rate of 0.97% for 6 months6

  • NO annual fee

Features and Benefits

  • Purchase protection and extended warranty

RateSupermarket.ca's Review

The President's Choice Financial® Mastercard® earns PC Optimum points wherever you shop. Those points can be put towards any purchases made at participating stores where President's Choice products are sold, including Loblaws, Real Canadian Superstore, Joe Fresh and others. This card also has no annual fee – a good bonus for average earnings, in comparison to other President's Choice Financial® credit cards that also have no annual fee but come with a higher earning rate.

The President's Choice Financial® Mastercard® is a solid addition to your wallet if you use a credit card for everyday purchases and shop at Loblaws or Shoppers Drug Mart on a consistent basis. It's especially great for families with kids who are looking to make the most out of their weekly grocery runs. If you add a PC Optimum account to the card, you'll earn points faster, helping you to reduce your bill even further.

However, it may not be the best choice if you prefer using debit or cash for groceries, gas and drugstore purchases, or if you carry a balance on your card for a long period of time. In addition, you are limited in where you can redeem your points, so if you're looking for travel rewards or cash-back, you may want to look at other options.

Earning Potential: Up to $424.47 in free groceries

So, how does this card stack up to other grocery rewards options? We crunched the numbers using our Best of Finance methodology to see how much you could earn over a 24-month period.

Assuming $1,222.96 is spent on the card monthly, at eligible retailers in the following categories*:

Pharmacy Food Gas
$55.33 $758.53 $155.72**
Travel Other Monthly Total
$151.21 $102.17 $1,222.96



Rewards earned over a 24-month period: 424465.2 PC Optimum points
Monetary worth: $424.47 in PC Optimum points

*Source: Statistics Canada
**Based on $1.00/litre gas prices

Keep in mind, you can rack up points faster if you add a PC Optimum card and book vacations through PC Travel. PC Financial® also has other options to help you increase your earnings.

Pros

  • Earn 25 PC Optimum points6 for every $1 spent at Shoppers Drug Mart® and PharmaprixMD.
  • Earn at least 30 PC Optimum points per litre pumped at Esso gas stations3.
  • Earn 10 PC Optimum points for every $1 spent, everywhere else.
  • No annual fee!
  • New cardholders enjoy a low balance transfer rate of 0.97% for 6 months7.
  • If you hold both the President's Choice Financial® Mastercard® and a PC Optimum points card, you can earn more points on special offers online and in-store.
  • Up to four free additional cards for family members, so you can earn PC Optimum points even faster.
  • Purchase assurance and extended warranty.

Cons

  • Points can only be redeemed at Loblaws-affiliated grocery stores, Shoppers Drug Mart, PharmaprixMD or Joe Fresh. But if you shop at these chains frequently, this can be a plus as you can redeem points for just about anything (food, cosmetics, PC Mobile cellphones and smartphones, Joe Fresh merchandise), or you can even donate your points to charity.
  • You can't earn travel rewards or cash-back with this card.
  • You can only trade in your points in increments of 10,000 – or $10 worth.

 

Rate, product information and rewards estimate are subject to change at any time and does not constitute financial advice. Please contact supplier for complete details

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