If you are a frequent shopper at the Real Canadian Superstore or other Loblaws banner stores, the PC Financial World Mastercard can help you earn PC Optimum points faster.
In addition to a flat-rate 2% rewards rate on grocery shopping, you also earn points when you make purchases at Shoppers Drug Mart or buy gas at Esso and participating Mobil gas stations.
The card offers standard purchase protection and extended warranty coverage, plus an interesting low-interest balance transfer rate.
This review of the PC Financial World Mastercard covers its benefits, downsides, PC Optimum points offer, and alternative cards.
PC Financial World Mastercard – At a Glance
- $0 annual fee
- Earn 20 Optimum points per $1 at Loblaws grocery stores
- Earn 35 points per $1 at Esso and Mobil
- Earn 20 points per $1 at PC Travel
- Earn 10 points per $1 spent everywhere else
- 20.97% purchase interest rate
- 22.97% cash advance interest rate
- $60,000 minimum personal income to qualify
PC Financial World Mastercard Benefits
Cash Back Rewards
PC Financial World Mastercard holders earn 20 points per dollar when they shop for groceries at Loblaws stores, including Superstore, No Frills, Wholesale Club, and independent.
This translates to a 2% reward rate and is comparable to some of the best offers by no-fee cash back credit cards in Canada.
For purchases at Shoppers Drug Mart, you earn 35 points per dollar. After factoring in the 15 points all PC Optimum members get at this store, your earn rate is 2%.
When you buy gas at Esso and participating Mobil gas stations, you get at least 30 points per litre. Again, after factoring in the 10 points per litre available to Optimum members, your reward rate on gas purchases is at least 2%.
Cardholders who use the PC Financial World Mastercard to book travel through PC Travel Services earn an extra 10 points per dollar spent for a total of 20 points per dollar.
Lastly, you earn 10 points per dollar for all other purchases charged to your card.
Insurance Benefits and Other Perks
The PC Financial World Mastercard provides free purchase protection and an extended warranty.
Purchase protection means you are covered against theft, loss, or damage for 90 days when you pay in full using your card. As for the extended warranty, it extends the standard manufacturer’s warranty for up to one extra year.
To wrap up this card’s benefits, you enjoy a 24/7 concierge service you can use for event registrations, medical assistance, and emergency assistance.
Downsides of the PC Financial World Mastercard
You must earn a personal income of at least $60,000 to qualify for this credit card. Alternatively, couples can qualify based on a $100,000 household income.
The PC Financial World Mastercard does not offer any travel benefits, which is a downer for a World Mastercard. Also, PC Optimum points can only be redeemed at stores where PC products are marketed.
How To Redeem Your PC Optimum Points
You can redeem 10,000 Optimum Points for $10. The minimum redemption amount is 10,000 points, which increases in increments of 10,000 points.
You earn PC Optimum points at more than 4,500 stores across Canada. And can easily redeem your points at approximately 2,500 stores, including Superstore, No Frills, Joe Fresh, Shoppers Drug Mart, Maxi, Provigo, Pharmaprix, and more.
The PC Optimum app tracks your transactions, points, and personalized offers.
PC Financial World vs. PC Financial World Elite Mastercard
President’s Choice Financial offers three Mastercards as follows:
- PC Financial Mastercard
- PC Financial World Mastercard
- PC Financial World Elite Mastercard
When you apply for the PC Financial World Mastercard, you may be automatically upgraded to the PC Financial World Elite if your income level qualifies.
Overall, you earn more points with the World Elite (up to 4.5% at Shoppers Drug Mart), and it offers many more insurance and travel benefits.
The table below compares all three PC Financial Mastercards.
|Credit Cards||PC Financial World Mastercard||PC Financial Mastercard||PC Financial World Elite Mastercard|
|Minimum eligible income||$60,000 personal or $100,000 household income||N/A||$80,000 personal or $150,000 household income|
|Optimum Points at Loblaws grocery stores||20 points per $1||10 points per $1||30 points per $1|
|Optimum Points at Shoppers Drug Mart||35 points per $1||25 points per $1||45 points per $1|
|Optimum Points at Esso/Mobil||30 points per litre||30 points per litre||30 points per litre|
|Optimum Points at PC Travel||20 points per $1||20 points per $1||20 points per $1|
|Optimum Points elsewhere||10 points per $1||10 points per $1||10 points per $1|
|Purchase interest rate||20.97%||20.97%||20.97%|
|Cash advance interest rate||22.97%||22.97%||22.97%|
|Insurance benefits||Purchase Assurance and Extended warranty||Purchase Assurance and Extended warranty||Travel emergency medical and car rental insurance; Purchase assurance and Extended warranty|
|Other perks||24/7 concierge service; Free supplementary cards||Free supplementary cards||Identity theft assistance service; 24/7 concierge service|
|Review||–||Learn More||Learn More|
PC Financial World Mastercard vs. Tangerine World Mastercard
If you meet the $60,000 personal income needed to qualify for the PC Financial World Mastercard, you can also take a look at the Tangerine World Mastercard offered by Tangerine Bank.
Tangerine World Mastercard has the following features:
- $0 annual fee
- Up to 2% unlimited cash back on up to three categories of spending and 0.50% on all other purchases
- Rental collision/loss damage insurance for up to 31 consecutive days
- Mobile device insurance up to $1,000 for smartphones and tablets
- Free Global Wi-Fi via Boingo Wi-Fi for Mastercard
- Complimentary membership in Mastercard Airport Experiences provided by Loungekey with access to over 1,000 lounges
- 1.95% promotional balance transfer rate for 6 months
- Mastercard Travel Rewards
The 2% cash back categories offered by this card include groceries, restaurants, gas, recurring bill payments, entertainment, public transportation, hotel/motel, and more.
Cash back is paid out every month, and when you deposit yours into a free Tangerine Savings Account, you get a third 2% money-back category.
Unlike the PC Financial World card, the Tangerine World Mastercard provides a noteworthy travel benefit with exclusive access to VIP airport lounges, rental car insurance, and free Wi-Fi.
Tangerine World Mastercard
Rewards: Earn up to 2% unlimited cash back in up to 3 spending categories and 0.50% on all other purchases; VIP perks.
Welcome offer: Get an extra 10% cash back on up to $1,000 in spending in the first 2 months ($100 value).
Interest rates: 19.95% for purchases, balance transfers, and cash advances.
Annual fee: $0
The PC Financial World Mastercard is a slight step up from its entry-level counterpart, the PC Financial Mastercard.
With a 2% cash back rate on grocery purchases at Loblaws stores, it is definitely worth taking a look at.
If you prefer a no-fee credit card with premium features and more flexibility to use your cash back rewards, the Tangerine World Mastercard is a top contender.
PC Financial World Mastercard Review
The PC Financial World Mastercard offers 20 Optimum points per $1 spent at Loblaw stores. This review compares it with other PC Financial credit cards and the Tangerine World Mastercard.
- $0 annual fee
- Earn 20 Optimum points per $1 at Loblaws stores and 35 points per $1 at Shoppers Drug Mart
- Promotional low-rate balance transfer for 6 months
- 24/7 concierge service
- High minimum personal income requirement
- PC Optimum points can only be redeemed at Loblaws stores
- Has no travel insurance benefits