PC® World Elite Mastercard®

Quick overview of the PC World Elite Mastercard

In the market for a no-fee credit card that rewards you for your day-to-day spending? If you’re a loyal PC Optimum rewards member who regularly shops at Loblaws or its partner stores, the PC World Elite Mastercard can be an excellent choice. It offers a high earn rate on eligible grocery and gasoline purchases and doesn’t charge an annual fee. And you can easily redeem your rewards for free groceries and other products, as well as discounts on gasoline. 

That said, it’s not the only rewards card out there that pays back handsomely on everyday spending, and its Loblaw-centric rewards structure might leave some feeling restricted.

Who’s the PC World Elite Mastercard for?

The PC World Elite Mastercard is designed for people who want a no-annual-fee credit card and shop at Loblaws and its partner stores. It earns 3% at eligible grocery stores and 4.5% at Shopper’s Drug Mart, which is very generous for a no-fee card. Unfortunately, the card has its limitations. You’ll need to meet a high annual income threshold to qualify, and if you don’t shop at partner stores, the earn rate drops to a mediocre 1% (10 PC points per $1 spent). Also, the card’s insurance coverage is limited, which is disappointing for a World Elite credit card.

Pros and cons

Pros

• No annual fee

• High earn rates in certain stores

• Easy, straightforward redemptions

• Points don’t expire provided your account stays active and in good standing

• Special events allow you to earn extra points

Cons

• High income requirement to qualify

• Accelerated earn rates are limited to certain partner stores, and points can be redeemed only for purchases within Loblaw banner stores

• Points can’t be transferred to other loyalty programs

• The included travel insurance is very limited

How to earn points

The PC^® World Elite Mastercard^® has the best overall earn rates offered among all three PC Financial^® credit cards:

• Earn 45 points per $1 spent at Shoppers Drug Mart/Pharmaprix
• Get at least 30 points per litre of gas purchased at Esso™ or Mobil™ stations
• Earn 30 points per $1 spent on PC Travel services
• Earn 30 points  per $1 spent at Loblaw Banner Grocery Stores (includes Loblaws, No Frills, Valu-Mart, Independent Grocers, Zehrs, Real Canadian Superstore, Fortinos, etc.)

All other purchases earn 10  points per $1 spent. Make sure to keep an eye out for special events as well which will allow you to earn points at a higher rate.

Redeeming rewards with the PC® World Elite Mastercard®

PC Financial makes redeeming rewards easy. You can exchange your PC Optimum points for products or groceries at participating stores or online, and for gasoline discounts and free car wash packages at Esso stations. 

Points have the same value regardless of how you redeem them. To make your first redemption, you must accumulate 10,000 PC Optimum points, worth $10. Subsequent redemptions must also be in increments of 10,000 points. The maximum number of points you can redeem in a single transaction is 500,000 ($500 value). There are certain products for which you cannot redeem PC Optimum points, including tobacco and alcohol, lottery tickets, gift cards, transit tickets, passport photos, etc. 

Don’t worry about losing your points — they don’t expire as long as you keep your account active and in good standing.

PC® World Elite Mastercard® insurance coverage

While it’s missing more extensive insurance coverage you might get with a rewards credit card that charges an annual fee, the PC® World Elite Mastercard® does include a few valuable protections: 

• Travel Emergency Medical Insurance: This insurance is available to cardholders under 65 for up to 10 consecutive days per trip. The maximum benefit is $1 million.
• Car Rental Collision/Loss Damage Waiver Insurance: Up to 31 consecutive days of coverage for rental cars. 
• Identity Theft Assistant Service
• 24/7 Concierge Service

If you’re looking for a credit card with a more comprehensive suite of protections, check out our list of credit cards with great travel insurance.

What people have to say about this card

In reviewing various online discussions regarding the PC World Elite Mastercard, it’s clear that people appreciate that the card has no annual fee. In fact, many users in this Reddit thread compare the World Elite favourably to the recently launched PC Insiders World Elite Mastercard, which offers slightly higher earn rates but charges a $120 annual fee. According to one user, the (PC Insiders card) “is a mediocre card and not worth the annual fee.” Another user replied, “I use a PC World Elite for my grocery shopping and was pretty disappointed when I saw this offer (from the PC Insider’s World Elite card).” 

Other commenters have noted that the PC World Elite Mastercard is worthwhile if you shop at Loblaws partner stores, but if not, other cards are better. For example, the CIBC Costco Mastercard is a better option for loyal Costco shoppers. Ultimately, the best card depends on where you do most of your grocery shopping.

Eligibility requirements

You need to be a Canadian resident and the age of majority in your home province to be eligible for this credit card. Furthermore, you’ll need to have a minimum personal income of $80,000 per year or $150,000 minimum household income per year.

How to apply

Ready to apply for the PC^® World Elite Mastercard^®? Here’s what you need to do:

1. 1.

   Ensure that you meet the eligibility requirements as listed above.

2. 2.

   Visit the website here and click the red ‘Apply now’ button.

3. 3.

   You’ll be asked if you already have a PC Financial^® account. If you do, great. It just means all your information is on file and ready to go in your account. If not, that’s ok! You can create an account now.

4. 4.

   You’ll be given an application disclosure summary again with the eligibility requirements, as well as the fine print details. Give it a read over and then tick the box that you have read and accept.

5. 5.

   Fill in the application form. You will be asked to provide some personal details, your employment info, if you want to add an additional user or any optional extras to the account, etc. Filling this information out should only take you a few minutes.

6. 6.

   Review your application and submit.

Approval should be very quick. Once you are approved it takes about 5-7 business days for your card to arrive in the mail.

How does the PC World Elite Mastercard compare to the competition?

PC World Elite Mastercard vs. BMO CashBack Mastercard

Learn More Apply Now On BMO's Secure Site

BMO CashBack® Mastercard®*

3.5

5% cash back

Welcome Bonus

$526

First Year Value

$401

Annual Value

Welcome Bonus: Get 5% cash back in your first 3 months*

Learn More Apply Now On BMO's Secure Site

Show More

Get this card if you...

• want to earn cash back on everyday purchases
• value the flexibility to redeem cash back at any time
• value a great welcome offer

Annual Fee & Annual Interest Rates

$0

Annual Fee

20.99%

Purchase

22.99%

Cash Advance

• Overview

  Our Take

  The BMO CashBack® Mastercard®* is a no-annual-fee credit card that allows cardholders to earn cash back on everyday purchases, with elevated rates for categories such as groceries and recurring bill payments. It offers flexible redemption options and includes benefits like purchase protection and extended warranty.

  BMO CashBack® Mastercard®* Review

  Eligibility

  Good (620 - 670)

  Recommended Credit Score

  $15,000

  Required Annual Personal Income

• Pros & Cons

  Pros

  • No Annual Fee: A rare find in Canada for a cash back card
  • A generous 3% cash back on groceries (up to $500 monthly)
  • Easily redeem from $1, set up automatic redemptions, or use as a statement credit
  • Additional perks include discounts on rentals, free supplementary cards and show discounts

  Cons

  • Outside of groceries and recurring payments, the standard earn rate drops to 0.5%
  • Monthly caps on top earn rates for groceries and recurring payments
  • A 2% balance transfer fee applies
  • The interest rate on the remaining balance transfer amount increases after the introductory period
• Rates & Fees

  Annual Interest Rates

  20.99%

  Purchase

  22.99%

  Cash Advance

  0.99%

  Balance Transfer (Introductory)

  Fees

  $0

  Annual Fee

• Rewards & Benefits

  Rewards cash back

  3%

  Cardholders earn 3% (up to a monthly max of $500) cash back on groceries

  1%

  Cardholders can earn 1% (up to $500 per month) on any recurring bill payments*

  0.5%

  Cardholders can earn 0.5% (no monthly max) on all other eligible purchases*

• Offer Details
  Get up to 5% cash back in your first 3 months‡‡ and a 0.99% introductory interest rate on Balance Transfers for 9 months with a 2% transfer fee.§§

Our Take

The BMO CashBack® Mastercard®* is a no-annual-fee credit card that allows cardholders to earn cash back on everyday purchases, with elevated rates for categories such as groceries and recurring bill payments. It offers flexible redemption options and includes benefits like purchase protection and extended warranty.

BMO CashBack® Mastercard®* Review

Eligibility

Good (620 - 670)

Recommended Credit Score

$15,000

Required Annual Personal Income

Pros

• No Annual Fee: A rare find in Canada for a cash back card
• A generous 3% cash back on groceries (up to $500 monthly)
• Easily redeem from $1, set up automatic redemptions, or use as a statement credit
• Additional perks include discounts on rentals, free supplementary cards and show discounts

Cons

• Outside of groceries and recurring payments, the standard earn rate drops to 0.5%
• Monthly caps on top earn rates for groceries and recurring payments
• A 2% balance transfer fee applies
• The interest rate on the remaining balance transfer amount increases after the introductory period

Annual Interest Rates

20.99%

Purchase

22.99%

Cash Advance

0.99%

Balance Transfer (Introductory)

Fees

$0

Annual Fee

Rewards cash back

3%

Cardholders earn 3% (up to a monthly max of $500) cash back on groceries

1%

Cardholders can earn 1% (up to $500 per month) on any recurring bill payments*

0.5%

Cardholders can earn 0.5% (no monthly max) on all other eligible purchases*

Get up to 5% cash back in your first 3 months‡‡ and a 0.99% introductory interest rate on Balance Transfers for 9 months with a 2% transfer fee.§§

The BMO CashBack Mastercard provides a generous 3% (up to a monthly max of $500) cash back on groceries. When it comes to grocery spending, it offers more flexibility than the PC World Elite because cardholders are not tied to Loblaws and its partner stores to access the higher earn rate. But there’s a catch. The BMO card's grocery category cash back is capped . Once you exceed the cap, the rate drops to 0.5%, which is not competitive.

The PC World Elite doesn’t place a spending cap on groceries. Also, while the PC World Elite’s insurance coverage is limited, it offers more than the BMO CashBack Mastercard, which does not include any travel-related insurance coverage.

PC World Elite Mastercard vs. Tangerine Money Back Card

Learn More

Tangerine Money-Back Credit Card

3.8

$484

First Year Value

$384

Annual Value

Welcome Bonus: Get a bonus 10% cash back for the first 2 months – up to $100. Plus, a 1.95% promotional balance transfer interest rate for the first 6 months.

Learn More

Show More

Get this card if you...

• want flexible cash back categories
• want unlimited cash back
• want to avoid paying an annual fee

Annual Fee & Annual Interest Rates

$0

Annual Fee

19.95% - 24.95%

Purchase

19.95%

Cash Advance

1.95% - 19.95%

Balance Transfer

• Overview

  Our Take

  The Tangerine Money-Back Credit Card is a no-annual-fee cash back card that allows cardholders to earn a higher cash back rate in two spending categories of their choice, such as groceries, gas, or restaurants, and a lower rate on all other purchases. By opening a Tangerine Savings Account and directing cash back earnings there, a third higher rate cash back category can be added. Additional benefits include purchase assurance and extended warranty protection, with cash back rewards automatically applied monthly.

  Tangerine Money-Back Credit Card Review

  Eligibility

  Good (620 - 670)

  Recommended Credit Score

  $12,000

  Required Annual Personal Income

• Pros & Cons

  Pros

  • No annual fee
  • Choose the spending categories where you want to earn the most cash back
  • Unlimited cash back—no maximum spending limit for any purchase category
  • Cash back is paid out monthly rather than annually
  • Periodically includes a special welcome offer where you can get extra cash back
  • 1.95% interest on balance transfers for the first 6 months (1% transfer fee applies)*

  Cons

  • Regular cash back rates are still lower than what you can get from a card with an annual fee
  • Limited extra perks or benefits beyond the cash back and balance transfer promotion
  • Generally not a good fit for shopping at warehouse clubs or wholesale grocers like Costco or Walmart
  • Tangerine does not have any physical bank branches
• Rates & Fees

  Annual Interest Rates

  19.95% - 24.95%

  Purchase

  19.95%

  Cash Advance

  1.95% - 19.95%

  Balance Transfer

  1.95%

  Balance Transfer (Introductory)

  24.95%

  Penalty

  Fees

  $0

  Annual Fee

  $2.5

  Foreign Transaction

  3.00%

  Balance Transfer

  $3.5

  Cash Advance

  $25

  Over The Limit Penalty

  $25

  Return Penalty

• Rewards & Benefits

  Rewards cash back

  2%

  Earn 2% cash back on 2 categories of your choice (e.g. groceries, recurring bills, gas, drug stores, etc.)

  3

  Get a Tangerine Savings account and add a 3rd 2% cash back category.

  0.5%

  Earn 0.50% on all your other everyday purchases.

• Offer Details

  Get a bonus 10% cash back – up to $100. Applies to purchases in your first 2 months. Plus, a 1.95% promotional balance transfer interest rate for the first 6 months.

  The Tangerine 10% Limited-time Promotional Offer (the “Offer”) is only available to new Tangerine Credit Card Account holders who (i) apply for a Tangerine World Credit Card (the “Account”) by January 31, 2025, (ii) activate their Account within 45 days of approval, and (iii) have up to a maximum of $1,000 in total Net Purchases posted to their Account within the 60-day period beginning on the date the Tangerine World Credit Card is activated. Limit of one Offer per eligible Client. This Offer is non-transferable. Offer may be changed, cancelled or extended at any time. All other Account terms, including the Tangerine Money-Back Rewards program terms, remain unchanged and continue to apply. See the Tangerine Credit Card Cardholder Agreement for more details, including definitions of any capitalized terms.

Our Take

The Tangerine Money-Back Credit Card is a no-annual-fee cash back card that allows cardholders to earn a higher cash back rate in two spending categories of their choice, such as groceries, gas, or restaurants, and a lower rate on all other purchases. By opening a Tangerine Savings Account and directing cash back earnings there, a third higher rate cash back category can be added. Additional benefits include purchase assurance and extended warranty protection, with cash back rewards automatically applied monthly.

Tangerine Money-Back Credit Card Review

Eligibility

Good (620 - 670)

Recommended Credit Score

$12,000

Required Annual Personal Income

Pros

• No annual fee
• Choose the spending categories where you want to earn the most cash back
• Unlimited cash back—no maximum spending limit for any purchase category
• Cash back is paid out monthly rather than annually
• Periodically includes a special welcome offer where you can get extra cash back
• 1.95% interest on balance transfers for the first 6 months (1% transfer fee applies)*

Cons

• Regular cash back rates are still lower than what you can get from a card with an annual fee
• Limited extra perks or benefits beyond the cash back and balance transfer promotion
• Generally not a good fit for shopping at warehouse clubs or wholesale grocers like Costco or Walmart
• Tangerine does not have any physical bank branches

Annual Interest Rates

19.95% - 24.95%

Purchase

19.95%

Cash Advance

1.95% - 19.95%

Balance Transfer

1.95%

Balance Transfer (Introductory)

24.95%

Penalty

Fees

$0

Annual Fee

$2.5

Foreign Transaction

3.00%

Balance Transfer

$3.5

Cash Advance

$25

Over The Limit Penalty

$25

Return Penalty

Rewards cash back

2%

Earn 2% cash back on 2 categories of your choice (e.g. groceries, recurring bills, gas, drug stores, etc.)

3

Get a Tangerine Savings account and add a 3rd 2% cash back category.

0.5%

Earn 0.50% on all your other everyday purchases.

Get a bonus 10% cash back – up to $100. Applies to purchases in your first 2 months. Plus, a 1.95% promotional balance transfer interest rate for the first 6 months.

The Tangerine 10% Limited-time Promotional Offer (the “Offer”) is only available to new Tangerine Credit Card Account holders who (i) apply for a Tangerine World Credit Card (the “Account”) by January 31, 2025, (ii) activate their Account within 45 days of approval, and (iii) have up to a maximum of $1,000 in total Net Purchases posted to their Account within the 60-day period beginning on the date the Tangerine World Credit Card is activated. Limit of one Offer per eligible Client. This Offer is non-transferable. Offer may be changed, cancelled or extended at any time. All other Account terms, including the Tangerine Money-Back Rewards program terms, remain unchanged and continue to apply. See the Tangerine Credit Card Cardholder Agreement for more details, including definitions of any capitalized terms.

The Tangerine Money Back Card is a no annual fee cash back Mastercard from one of Canada’s leading digital banks. It stands out for its generous welcome bonus. It also offers more reward flexibility than the PC World Elite. You can 2% back on two categories of your choice. Get a Tangerine Savings account and add a third 2% cash back category.

Of course, the cash back rate is lower than PC World Elite’s highest earn rates. The Tangerine Money Back does not offer any travel insurance coverage. If you spend regularly at Loblaws, Shopper’s Drug Mart, and their partner stores, the PC World Elite is likely your best bet. If you prefer reward flexibility and don’t need any insurance coverage, you may want to consider the Tangerine Money Back.

PC World Elite Mastercard vs. Scotia Momentum Visa Infinite

Learn More Apply Now On Scotiabank's Secure Site

Scotiabank Momentum® Visa Infinite*

4.2

10% back

Welcome Bonus

$620

First Year Value

$420

Annual Value

Learn More Apply Now On Scotiabank's Secure Site

Show More

Get this card if you...

• want high cash back rates
• value a great welcome offer
• want comprehensive insurance benefits

Annual Fee & Annual Interest Rates

$120

Annual Fee

20.99%

Purchase

22.99%

Cash Advance

22.99%

Balance Transfer

• Overview

  Our Take

  The Scotia Momentum® Visa Infinite* Card is a cash back credit card offering elevated earn rates on purchases in categories such as groceries, recurring bill payments, gas, and daily transit. Cardholders benefit from a competitive welcome bonus, comprehensive insurance coverage, and the potential to have the annual fee waived by bundling the card with certain Scotiabank chequing accounts.

  Scotiabank Momentum® Visa Infinite* Review

  Eligibility

  Excellent (740+)

  Recommended Credit Score

  $60,000

  Required Annual Personal Income

  $100,000

  Required Annual Household Income

• Pros & Cons

  Pros

  • High earn rate on everyday spending categories
  • Comprehensive travel and purchase insurance
  • Visa Infinite perks such as concierge, events, and special offers
  • 25% Car rental discounts at Avis and Budget
  • Mobile device insurance
  • Up to $200 welcome bonus

  Cons

  • Income requirements are higher: $60k personal or 100k household
  • Cash back can only be redeemed once a year
• Rates & Fees

  Annual Interest Rates

  20.99%

  Purchase

  22.99%

  Cash Advance

  22.99%

  Balance Transfer

  Fees

  $120

  Annual Fee

  $2.5

  Foreign Transaction

  $5

  Cash Advance

  $29

  Over The Limit Penalty

• Rewards & Benefits

  Rewards cash back

  4%

  For every $1 you spend on grocery store purchases, recurring bill payments and subscription purchases

  2%

  For every $1 you spend on gas and daily transit purchases

  1%

  Cash back on all other purchases with no cash back limit

  Insurance Benefits

  $1,000

  Mobile device insurance amount

  $500,000

  Travel accident insurance amount

  $65,000

  Rental car insurance amount

• Offer Details

  1. To qualify for these offers make sure to open a new Scotia Momentum® Visa Infinite* credit card account by October 31, 2025.

  2. To earn 10% cash back, make sure to use your new card to make everyday eligible purchases and earn 10% cash back on the first $2,000 you spend in your first 3 months from account opening.

  Once you qualify, we’ll credit your account in 2 instalments:

  1. Bonus Cash Back: The amount earned under the Cash Back Bonus Rate will be credited to your Account within approximately 7 months from the account open date; and

  2. Regular Cash Back: The amount earned under your regular Cash Back Program Rate will be credited to your Account according to the regular cash back payment schedule as set out under the Program (i.e., November).

  Individuals who are currently or were previously primary or secondary cardholders of a Scotiabank personal credit card in the past 2 years, including those that switch from an existing Scotiabank personal credit card, as well as employees of Scotiabank, are not eligible for these offers.

  See terms and conditions for full details.
  
  

  
  

Our Take

The Scotia Momentum® Visa Infinite* Card is a cash back credit card offering elevated earn rates on purchases in categories such as groceries, recurring bill payments, gas, and daily transit. Cardholders benefit from a competitive welcome bonus, comprehensive insurance coverage, and the potential to have the annual fee waived by bundling the card with certain Scotiabank chequing accounts.

Scotiabank Momentum® Visa Infinite* Review

Eligibility

Excellent (740+)

Recommended Credit Score

$60,000

Required Annual Personal Income

$100,000

Required Annual Household Income

Pros

• High earn rate on everyday spending categories
• Comprehensive travel and purchase insurance
• Visa Infinite perks such as concierge, events, and special offers
• 25% Car rental discounts at Avis and Budget
• Mobile device insurance
• Up to $200 welcome bonus

Cons

• Income requirements are higher: $60k personal or 100k household
• Cash back can only be redeemed once a year

Annual Interest Rates

20.99%

Purchase

22.99%

Cash Advance

22.99%

Balance Transfer

Fees

$120

Annual Fee

$2.5

Foreign Transaction

$5

Cash Advance

$29

Over The Limit Penalty

Rewards cash back

4%

For every $1 you spend on grocery store purchases, recurring bill payments and subscription purchases

2%

For every $1 you spend on gas and daily transit purchases

1%

Cash back on all other purchases with no cash back limit

Insurance Benefits

$1,000

Mobile device insurance amount

$500,000

Travel accident insurance amount

$65,000

Rental car insurance amount

1. To qualify for these offers make sure to open a new Scotia Momentum® Visa Infinite* credit card account by October 31, 2025.

2. To earn 10% cash back, make sure to use your new card to make everyday eligible purchases and earn 10% cash back on the first $2,000 you spend in your first 3 months from account opening.

Once you qualify, we’ll credit your account in 2 instalments:

1. Bonus Cash Back: The amount earned under the Cash Back Bonus Rate will be credited to your Account within approximately 7 months from the account open date; and

2. Regular Cash Back: The amount earned under your regular Cash Back Program Rate will be credited to your Account according to the regular cash back payment schedule as set out under the Program (i.e., November).

Individuals who are currently or were previously primary or secondary cardholders of a Scotiabank personal credit card in the past 2 years, including those that switch from an existing Scotiabank personal credit card, as well as employees of Scotiabank, are not eligible for these offers.

See terms and conditions for full details.

The Scotia Momentum Visa Infinite is one of Canada’s top rewards credit cards. In addition to a generous welcome bonus, you can earn  4% cash back for every $1 you spend on grocery store purchases, recurring bill payments and subscription purchases.

The card comes with eight types of insurance coverage, including emergency travel medical, rental car insurance, and mobile device coverage. It also has a lower minimum annual income threshold than the PC World Elite Mastercard. 

Of course, there is an annual fee, which explains the added benefits. However, if you can spend enough to offset the fee, the Scotia Momentum Visa Infinite is hands down the better card.

Is it worth it?

The PC World Elite Mastercard is worth getting if you shop frequently at Loblaw stores, including Shoppers Drug Mart, and are already collecting PC Optimum rewards points. With no annual fee, it only makes sense to boost your rewards-earning using this PC-branded credit card. If you don’t shop at Loblaw stores or are searching for other benefits in a rewards credit card, such as comprehensive insurance coverage or the ability to redeem rewards for travel, then the card is not worth it. 

PC® World Elite Mastercard eligibility requirements

To qualify for a PC World Elite Mastercard, you must be a Canadian resident and of the age of majority in the province where you reside. Additionally, you’ll need to meet the minimum income threshold of $80,000 per individual or $150,000 per household.  

• Sponsored advertising. President’s Choice Financial® Mastercard® is provided by President’s Choice Bank. The PC Optimum™ program is provided by President's Choice Services Inc. President’s Choice Bank is not responsible for the contents of this site, including any editorials or reviews that may appear on this site. For complete information regarding the PC® Mastercard®, PC® World Mastercard®, or PC® World Elite Mastercard®, please click on the “Apply Now” or other applicable button.
  
  

Colin Graves Freelance Writer

Colin Graves Freelance Writer

Colin Graves is a Winnipeg-based financial writer and editor whose work has been featured in publications such as Time, MoneySense, MapleMoney, Retire Happy, The College Investor, and more. Before becoming a full-time writer, Colin was a bank manager for over 15 years.

Explore the latest articles

Families forced to sign NDAs after resort illness

Resort illness leads to NDA pressure for families in return for help and medical care

RK

Romana King

Warren Buffett favours simple investing techniques

JP

Jing Pan

What credit score do you need to buy a car?

EN

Em Norton

Taylor Swift Tour was bigger than Super Bowl

VV

Victoria Vesovski