PC World Elite Mastercard review

How the PC World Elite earns

Everything is earned in PC Optimum points. Shoppers Drug Mart and Pharmaprix purchases earn 45 points per dollar. Loblaw banner grocery stores, including Loblaws, No Frills, Real Canadian Superstore and Maxi, plus Joe Fresh, earn 30 points per dollar. Esso and Mobil earn at least 30 points per litre of fuel, and everything else earns 10 points per dollar.

For example, a household spending $500 a month at Loblaw banner stores, $80 at Shoppers Drug Mart and $800 elsewhere earns 15,000, 3,600 and 8,000 points respectively. That’s 26,600 points a month, or 319,200 a year, before fuel. Filling up with 50 litres at Esso adds at least 1,500 points each time.

Note that fuel earns per litre rather than per dollar, so the points you collect at the pump depend on how much fuel you buy, not on the price you pay for it.

The welcome offer

New cardholders can earn up to 20,000 PC Optimum points by spending $50 or more at participating Loblaw banner stores, Shoppers Drug Mart, Joe Fresh, Esso or Mobil within 60 days of approval.

A single grocery trip of $50 or more would meet the requirement, so if you already shop at those stores, the bonus takes almost no planning to earn.

Redeeming PC Optimum points

PC Optimum points are redeemed at checkout at Loblaw-family stores, so the card pays you back in groceries, household items and other purchases from that group of stores rather than in cash. If you already shop there every week, using the points takes no extra effort.

The card also comes with 24/7 concierge service and identity theft assistance, and additional cards are free, so a partner’s spending can build the same points balance.

Fees, interest and the fine print

There’s no annual fee. Purchases in a foreign currency carry a 2.5% fee, about $25 per $1,000 spent abroad, so this isn’t the card to use for spending outside Canada.

Purchase interest is 21.99% and cash advances are charged 22.97%. Paying the full balance each month avoids purchase interest.

Insurance coverage

The PC World Elite includes travel and rental car coverage, which is useful on a card with no annual fee. Travel medical applies to trips of up to 10 days for cardholders under 65, so read the certificate before relying on it for a longer trip.

• Travel emergency medical (trips up to 10 days, under age 65)
• Rental car collision and loss damage waiver (up to 31 days, MSRP up to $65,000)
• Purchase assurance (90 days)
• Extended warranty (up to 1 additional year)

Who it suits, and who should look elsewhere

The card is made for people who already buy groceries at Loblaw banners, shop at Shoppers Drug Mart and fill up at Esso or Mobil. If those stores account for a big share of your spending, the earn rates are strong for a card with no fee.

If you rarely shop at those stores, you’ll mostly earn 10 points per dollar and still need to use the points within the Loblaw family. You’ll also need to meet an $80,000 income requirement. If you qualify, pairing it with a card that earns more on general spending covers the gaps.

How it compares

The Scotiabank American Express Card is a no-fee alternative for grocery shoppers loyal to the Sobeys family, earning 3 Scene+ points per dollar at Sobeys, Safeway, FreshCo, Foodland and more. It suits households that shop at those stores rather than at Loblaw banners.

The Walmart Rewards Mastercard also has no annual fee and earns up to 3% on Walmart purchases, making it the counterpart for people who do most of their shopping at Walmart.

Before you apply

The card is aimed at applicants with a credit score of 720 or higher, and it has an $80,000 income requirement. PC Financial makes the final decision. Confirm the welcome offer and current terms on PC Financial’s website before you apply.