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Looking for a PC Financial World Elite Mastercard review? I’ve got you covered. The PC Financial World Elite Mastercard is one of the most popular cards on the market since you’re able to earn 45 PC Optimum points per dollar spent at Shoppers Drug Mart and 30 PC Optimum points per $1 spent at Loblaws, No Frills, Real Canadian Superstore, and Joe Fresh. This is great for consumers since there is a combined total of nearly 2,500 stores in Canada where you can earn PC Optimum points.

In case you’ve been out of the loop for some time, PC Plus and Shoppers Optimum merged to become PC Optimum back in 2018. This was a massive deal since it was a combination of two of the most popular loyalty programs in Canada. When loyalty programs merge, there’s usually some kind of devaluation, but this merge saw more positive than negative changes. What’s interesting is that PC Optimum has had even more ways to earn points over the years, but the quickest way to rack up those points is with a co-branded credit card. Read my PC Financial World Elite Mastercard review now and find out why it’s a must-have card if you shop at Shoppers Drug Mart or where President’s Choice products are sold on a regular basis.

PC Financial world elite mastercard review

PC Financial World Elite Mastercard review

  • No annual fee
  • Earn 45 PC Optimum Points per $1 dollar spent at Shoppers Drug Mart
  • Earn 30 PC Optimum Points per $1 spent where PC Products are sold and at PC Travel
  • Earn 30 PC Optimum Points per litre at Esso/Mobil locations
  • Earn 10 PC Optimum Points per $1 spent on all other purchases

As you’ve probably noticed, the PC Financial World Elite Mastercard gives you the most return when you make purchases at Loblaws owned stores. You only get 10 PC Optimum Points per $1 spent on other purchases so this card is clearly marketed towards loyal customers.

Since it takes 10,000 PC Optimum Points to redeem $10 in merchandise, the PC Financial World Elite Mastercard acts like a 3% cash-back card (4.5% at Shoppers Drug Mart) since you’ll be earning 30 points per $1 spent at partner stores. Beyond the points you earn from the credit card, PC Optimum also has targeted offers and in-store promotions where you can earn additional points. There’s also PC Insiders which is a subscription membership where you’ll earn more points and get additional benefits.

What’s often overlooked about the card and is arguably one of the main benefits is the fact that it has no annual fee. With many premium cash back cards where you’re earning 4-5% on your grocery spend, you gotta pay an annual fee of $120+. Since there’s no fee with the PC Financial World Elite Mastercard, there’s really no reason why you shouldn’t apply for this card if you shop at Loblaws owned stores on a regular basis. Seriously, apply for this card now (referral link) if you shop a lot at Shoppers Drug Mart or grocery stores where PC products are sold.

PC Financial World Elite Mastercard premium benefits

  • Travel Emergency Medical Insurance (up to 10 days)
  • Car Rental Collision/Loss Damage Waiver Insurance
  • Mastercard Airport Experiences Provided by LoungeKey
  • 24/7 concierge service to make dinner reservations, reserve event tickets, deliver gifts and more

For a no fee card, the PC Financial World Elite Mastercard premium benefits are quite impressive. Sure, you only get 10 days of travel emergency medical insurance, and it only applies to people under the age of 65, but again, this is a no-fee card we’re talking about. With this card, it’s pretty easy to earn PC Optimum points fast.

Having car rental collision/loss damage waiver insurance is also impressive since this is a benefit that usually only comes with premium travel credit cards. In addition, since this is a World Elite Mastercard, you get LoungeKey access which is similar to Priority Pass and gives you airport lounge access. You’ll still have to pay $32 USD for each individual visit, but the standard membership is free which is normally $99 a year. Register for the program by going to the MasterCard Airport Experiences provided by LoungeKey website.

If you think about it, the PC Financial World Elite Mastercard is a cash back card that has many travel benefits which is a huge win for cardholders since it’s not common to have this kind of combination of benefits. If you want a travel specific card, then take a look at my list of the best travel credit cards in Canada.

How PC Optimum works

In case you didn’t know, PC Optimum is the loyalty program for Loblaws owned stores, Shoppers Drug Mart and Joe Fresh. You can earn and redeem points at more than 7,000 stores across the country. PC Optimum has more than 10 million users and is often referred to as the best retail loyalty program in Canada.

PC Optimum is pretty straight forward. You can earn points in-store via promotions and targeted offers. If you have one of the PC Mastercards, then you earn points on every purchase.

When it comes to redeeming points, you can claim 10,000 PC Optimum points for $10 in groceries or merchandise. You can claim points in 10,000 intervals so 20,000, 30,000, and 40,000 points would be worth $20, $30, and $40 points respectively. There is a maximum redemption of 500,000 points at a time ($500). You can pretty much claim points on just about anything but there are a few exceptions such as cigarettes, lottery tickets and gift cards.

On occasion, Shoppers Drug Mart has bonus redemption offers. For example, there was a promotion where you could claim 250,000 points for $400 in credit. That’s $150 more than the regular redemption so it can be worthwhile to save your points. They’ve also had other offers such as earn 20X the points or get 25,000 points when you spend $75. Read my post on how to earn more PC Optimum points if you want to maximize your points.

How the PC Financial World Elite Mastercard compares to others

Right away some people will think that the American Express Cobalt Card or the Scotiabank Gold Amex is better since since they both give you 5% back in points on grocery store purchases, but it’s not that simple. You see, Loblaw’s owned stores only accept Mastercard so you can’t compare the Cobalt card here since you can’t use it. Although I find it annoying that only Mastercard is accepted, I think it’s genius as it’s basically another reason to get consumers to sign up for their card.

You could compare this card to the Tangerine Money-Back Credit Card which is one of the best cash back credit cards in Canada. With the Tangerine card, you can choose up to three categories where you earn 2% in cash back with groceries being one of the available categories. This isn’t a bad return, but if your return is higher with the PC Financial World Elite Mastercard. 

As a World Elite Mastercard, applicants must have a minimum income of $80,000 or a household income of $150,000. If you don’t meet that requirement, you may still qualify for the PC Financial World Mastercard or the PC Financial Mastercard. Both of those cards have a lower income requirement but also give you a lower earn rate.

Final thoughts

My PC Financial World Elite Mastercard review is positive. This is a must-have card for anyone who shops on a regular basis at the Loblaws network of stores. If you combine your credit card with a PC Insiders subscription, you can rack up an insane amount of points quickly. Those points can in turn be used to claim free groceries or merchandise. 

Apply Now for the PC Financial World Elite Mastercard