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With a cash back rate up to 4.5%, the PC Financial World Elite Mastercard is one of the best no-fee cash back cards in Canada. Shoppers at Loblaws grocery stores earn 30 PC Optimum points and a top-rated 45 Optimum points per $1 spent at Shoppers Drug Mart.

Combined with the many other opportunities to earn cash back when you purchase gas or book travel, this card is certainly one of the easiest ways to maximize your PC Optimum points.

This PC Financial World Elite Mastercard review covers its travel insurance benefits, eligibility requirements, downsides, and more.

PC financial world elite mastercard

PC Financial World Elite Mastercard – At a Glance

  • $0 annual fee
  • Earn 30 Optimum points per $1 at Loblaw grocery stores
  • Earn 45 points per $1 at Shoppers Drug Mart
  • Earn 30 points per $1 spent at PC Travel services
  • Earn at least 30 points per litre of gas at Esso and Mobil stations
  • Earn 10 points per $1 spent everywhere else
  • Travel emergency medical insurance
  • Car rental insurance
  • 24/7 concierge and identity theft assistant service
  • 0.97% promotional balance transfer rate for 6 months
  • 20.97% purchase interest rate
  • 22.97% cash advance interest rate

PC Financial World Elite Mastercard Rewards

If you want to fully utilize the PC Optimum rewards program, this card is your key to doing just that.

It offers 30 points per dollar when you shop at Loblaw grocery stores including the Real Canadian Superstore, Wholesale Club, No Frills, and Independent.

This is a 3% reward rate that’s almost unheard of for a no-fee card. One card that matches this offer is the Triangle World Elite Mastercard.

If you buy things at Shoppers Drug Mart, your earn rate jumps to 4.5% i.e. 45 Optimum points per dollar.

When you book flights and holiday packages through PC Travel Services, you earn 30 points per dollar for a 3% cash back rate.

All other purchasdes put on the card outside of where PC products are sold earn a flat 10 points per dollar (1% rate).

PC Financial World Elite Mastercard Gas Points

When you purchase gasoline or diesel fuel at Esso and participating Mobil gas stations, you earn at least 30 points per litre.

To start, any PC Financial Mastercard gets you 10 points per $1.

PC Optimum loyalty membership gets you 10 points per litre, plus 10 points per litre when you pay with a PC Financial credit card.

When a litre of fuel is below $1, your points are topped up to ensure you get at least 30 points per litre.

In addition, you could also earn an extra 10 points per litre when you purchase premium gas and from exclusive promotions.

PC Financial World Elite Travel Insurance Benefits

Unlike the other two credit cards offered by President’s Choice Bank, the PC Financial World Elite offers travel insurance benefits including:

Travel Emergency Medical Insurance: You get coverage for trips up to 10 days if you are under 65 years of age. When eligible, this benefit provides up to a maximum of $100,000 per insured persons and covers:

  • Hospital accommodation and medical expenses
  • Doctor fees
  • Private nursing
  • Diagnostic services
  • Prescription drugs
  • Ambulance and emergency air transport
  • Accidental dental care
  • Medical appliances, and more

Here are some of the best travel credit cards in Canada.

Car Rental Insurance: Cardholders enjoy coverage for car rental collisions, loss, or damage during a trip for up to 31 consecutive days. This insurance covers the value of a vehicle with a manufacturer’s suggested retail price of up to $65,000.

To be eligible for car rental insurance, you must book or reserve the rental car using your card and also decline the car rental’s collision damage waiver.

Here are some of the best credit cards for car rental insurance.

Other Benefits

In addition to earning PC Optimum points on every purchase, this card provides free purchase assurance and extended warranty. You also get access to an Identity Theft Assistant service as well as a 24/7 concierge service.

Lastly, the PC Financial World Elite Mastercard offers a promotional 0.97% balance transfer rate for 6 months.

Here are some of the best balance transfer credit cards in Canada.

How To Redeem Your PC Optimum Points

10,000 PC Optimum points are valued at $10.

The minimum redemption amount is 10,000 Optimum points ($10) and you can redeem in increments of 10,000 points. For example, if you have 98,000 points, you can redeem 90,000 points for a $90 value, leaving you with 8,000 points.

To redeem your points, you can use them to pay for purchases at more than 4,500 Loblaw banner stores where PC products are sold.

Retailers where you can redeem PC Optimum Points include:

  • Real Canadian Superstore
  • Shoppers Drug Mart
  • Loblaws
  • Your Independent Grocer
  • Atlantic Superstore
  • No Frills
  • Proviso
  • Wholesale Club
  • Valu-Mart
  • Maxi
  • Fortinos
  • Extra Foods

The PC Optimum app tracks your transactions and points and also shows personalized weekly bonus offers based on your purchase history.

PC Financial World Elite Airport Lounge Access

This card does not offer complimentary airport lounge access even though it is a World Elite card.

To enjoy this benefit (either through Priority Pass or Mastercard Airport Experiences), you will need to check out the following cards:

Downsides of the Card

While this card has a bunch of noteworthy benefits and features, here are some of its downsides:

You need a minimum personal income of at least $80,000 to qualify for the card. Alternatively, a couple can apply using a combined income of at least $150,000. This income eligibility is on the high side for most Canadians.

If the income requirement is an issue, you can take a look at the Tangerine Credit Card which offers up to 2% unlimited cash back and has a low income requirement of $12,000.

PC Optimum points can only be redeemed for purchases at stores that carry PC products. Your cash back rewards cannot be used to pay for purchases elsewhere or redeemed as a statement balance.

If you prefer cash back you can use anywhere, check out this list of the best rewards credit cards.

Related: Best Credit Card Sign-up Promotions

PC Financial World Elite vs. PC Financial Mastercard

Loblaws has three Mastercards in its stable including the:

  • PC Financial Mastercard
  • PC Financial World Mastercard
  • PC Financial World Elite Mastercard

When compared to its plain-vanilla alternative (the PC Financial Mastercard), the PC Financial World Elite Mastercard offer 3x the points when you shop for groceries at Loblaw stores.

Also, you earn more points at Shoppers Drug Mart (45 points vs. 25 points), and PC Travel (30 points vs 20 points).

In addition to getting more PC Optimum points, this card also has travel insurance benefits.

Both credit cards offer a 0.97% balance transfer rate for 6 months.

See how all three cards compare below:

Is the PC Financial World Elite Mastercard Worth It?

This World Elite Mastercard is definitely a must-have if you are a frequent shopper at Superstore and Loblaw stores in general.

Its 3% cash back rate on grocery purchases is great for a no-fee card and you can easily redeem your points to pay for purchases at $10 increments.

Add in the travel emergency medical and car rental insurance and you could save the $120 annual fee that comes with a paid premium credit card.

Alternative card options to consider include the:

The Scotiabank Gold American Express ($120/year) also offers up to 5% rewards on groceries. In addition, you enjoy comprehensive travel insurance, pay $0 on foreign currency transactions (2.5% savings), and get other VIP perks.

The American Express Cobalt Card ($120/year) offers up to 5% rewards on grocery purchases as well as comprehensive travel insurance.

PC Financial World Elite Mastercard FAQs

Does PC Financial World Elite have trip cancellation?

This card is not a full-fledged travel rewards card and doesn’t offer trip cancelation, flight delay, baggage delay, lost or stolen baggage, or hotel burglary insurance. That said, cardholders enjoy free travel emergency medical and car rental insurance.

How do you qualify for the PC Financial World Elite Mastercard?

To be eligible for this card, you must have a minimum personal income of at least $80,000 per year. Other eligibility criteria may also be applied. For example, existing PC Financial Mastercard cardholders may be upgraded to a PC Financial World Elite when they reach a specific spending threshold per year.

Can I use the PC Mastercard at Costco?

Yes, you can use your PC Financial Mastercard to pay for purchases at Costco.

What’s been your experience with the line of PC Financial Mastercards and their loyalty program?

PC Financial World Elite Mastercard Review


The PC Financial World Elite Mastercard maximizes your PC Optimum points when you shop at Loblaw banner stores. This review covers its benefits, downsides, and insurance coverage.