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PC Insiders™ World Elite Mastercard® review | Is it worth it?

A $120 grocery credit card, free grocery delivery, but does the math make sense? financially?

3.5

40 points per $1 at Loblaw banner stores

50 points per $1 at Shoppers Drug Mart

70 points per litre at Esso and Mobil gas stations

10 points per $1 everywhere else

$0 online grocery delivery and pick up

21.99% Purchase APR

5.00% Balance Transfer Rate

22.97% Cash Advance APR In Quebec, 21.97%.

$120 Annual Fee Additional card fee: $0

2.50% Foreign Transaction Fee

Very Good Recommended Credit Score

$80,000 Required Annual Personal Income

$150,000 Required Annual Household Income

3.5

PC Insiders™ World Elite Mastercard® review | Is it worth it?

Quick overview of the PC Insiders World Elite Mastercard

During the pandemic, my wife and I got the PC World Elite Mastercard and fell in love with the points. We started ordering our groceries online and stood by Loblaws and No Frills in the early, rushed days of them adapting to the instant and significant influx of online shoppers. We were spending around $700 and getting around $40 to $50 a month in cash back.

One point of frustration was that, when I went on the odd grocery run or visit to the Shoppers drug mart for my prescriptions or deodorant without my wife, we’d miss out on the points because we only had the one card and it was in her wallet. 

With the new PC Insiders World Elite Mastercard, we get $0 grocery delivery from No Frills on same-day or future orders so long as we spend at least $35. We also got additional cards for free, helping us to rack up the points and earn cash back rewards even faster, without ever having to pass the card between us or struggle with those grocery lockers. 

Who’s the PC Insiders World Elite Mastercard for?

This is the perfect card for families who pull in $150,000 of household income and are brand loyalists to Loblaw grocery store brands (No Frills, Independent, Zehrs, etc.), Shoppers Drug Mart and at least occasionally fill up at Esso & Mobil gas stations. 

Pros and cons

Pros

Pros

  • Generous welcome bonus

  • Excellent earn rate on everyday expenses

  • Access to free online delivery

  • Super rare identity theft protection

  • Rental car insurance

  • Emergency medical insurance

Cons

Cons

  • $120 annual fee

  • Poor travel insurance for a World Elite credit card

  • Limited to PC brands

PC Insiders World Elite Mastercard Welcome bonus

  • Earn 150,000 PC Optimum points when you spend at least $3,000 anywhere within the first 4 months. Up to $1,100 in average annual value. 

How to earn PC Optimum points

If you buy groceries at Loblaws banner grocery stores, you earn forty points for every $1 you spend. These stores include Loblaws, Independent, Zehrs, Real Canadian Superstore, Club Wholesale and No Frills. You earn 50 points for every $1 at Shoppers Drug Mart stores including Shoppers Drug Mart, Beauty Boutique, Shoppers Simply Pharmacy and Wellwise by Shoppers.

There are also services like mediSystem, The Health Clinic, medical cannabis, Speciality Health Network and PC health where you can earn points for completing daily activities. 

Everywhere else you use your card, you’ll earn 10 points per $1 spent. 

Finally, you earn 70 points per litre at Esso and Mobil gas stations.

How to redeem PC Optimum points

You can redeem your points at the register with the cashier or at self-checkout in 10,000 point increments, which is the equivalent of $10.l. You can use your points at any participating store including Loblaws, No Frills, Shoppers and Esso, to name a few. At Esso, you can redeem 4,000 points to get 10 cents off per litre (up to 40 litres). 

You can also redeem at Beautyboutique.ca and JoeFresh.ca. 

If you like hoarding points, you can save them and redeem a maximum of $500 of any one purchase (so you can buy the PS5 at Shoppers Drug Mart). 

PC Insiders key benefits

  • Huge welcome bonus of 150,000 PC Optimum points
  • Incredible earn rate on everyday purchases
  • Unlimited $0 online grocery delivery and pickup (a value of $99.99)

PC Insiders World Elite Mastercard Insurance coverage

  • Travel Emergency Medical insurance: $1 million in coverage for trips up to 10 days for those under 65
  • Purchase assurance: In the event of theft, loss or damage in the first 90 days post-purchase
  • Extended warranty: Doubles the manufacturer’s warranty for up to an additional year
  • Car rental collision/loss damage: Up to 31 days for cars under $65,000. You must charge the full amount of the rental vehicle to your card. 
  • Identity theft assistance service: To help you avoid or restore your identity

You can find the full details in the PC Financial certificate of insurance for purchase assurance and extended warranty. Click here

Find the full details of the rental car insurance certificate, here. 

Extra benefits

  • Mastercard Global Service: Get emergency assistance with reporting a lost or stolen card, getting an emergency card replacement or cash advance or answering questions about your account. 
  • Concierge services: 24/7 access for assistance in booking travel, entertainment, business and shopping. You can also get medical assistance such as finding a medical provider, transportation arrangements, prescriptions, and more.  (charges apply). Call 1-866-892-8683

What the Reddit community has to say

Reddit users have weighed in on the value of the  PC Insiders World Elite Mastercard. One user, who currently uses a PC World Elite, was “pretty disappointed” at only receiving an extra 1% with the PC Insiders World Elite Mastercard for the $120 annual fee. Their calculations suggested they'd have to spend $12,000 to break even. That said, they did say that, if you’re otherwise paying to get your groceries delivered, the PC Insiders card is worth it. 

Read the r/PersonalFinanceCanada thread.

How PC Insiders World Elite Mastercard compares

PC Insiders World Elite Mastercard Vs. PC World Elite Mastercard

PC® World Elite Mastercard

Apply now

4.0

30 pts per $1

Welcome offer

Fair

Suggested credit score

Earn 30 points per $1 spent at PC grocery stores

Apply now

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

Eligibility

Recommended Credit Score

Fair

Required Annual Personal Income

$80,000

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

Eligibility

Recommended Credit Score

Fair

Required Annual Personal Income

$80,000

* 45 points per $1 spent at Shoppers Drug Mart/Pharmaprix

45 points

At least 30 points per litre of gas purchased at Esso™ or Mobil™ stations

30 points

At least 30 points per $1 spent on PC Travel services

30 points

30 points per $1 spent at Loblaw Banner Grocery Stores (includes Loblaws, No Frills, Valu-Mart, Independent Grocers, Zehrs, Real Canadian Superstore, Fortinos, etc.)

30 points

Purchase APR

21.99%

Balance Transfer Rate

5.00%

Cash Advance APR

22.97%

Annual Fee

$0

The PC World Elite Mastercard charges no annual fee and, as a result, you lose the perk of getting free delivery. The earn rate on groceries drops to 30 points per $1 (from 40pts/$1), at Shoppers it drops from 50 points to 45 points and at Esso and Mobil it drops from 7 cents a litre to 3 cents per litre. 

What will push the PC Insiders card over the top, though, is the 150,000 Welcome Bonus (you’d have to spend $5,000 on groceries alone to get there with the PC Financial World Elite card). As soon as you have 10,000 PC Optimum points, you can redeem for up to $10 worth of free stuff at participating stores. So that 150,000 bonus points are essentially paying for you to try the PC Insiders World Elite Mastercard. 

PC Insiders World Elite Mastercard Vs. CIBC Dividend® Visa Infinite

CIBC Dividend® Visa Infinite* Card

Apply now

4.0

10% back†

Welcome offer

Good

Suggested credit score

Get a first-year annual fee rebate and earn a 10% cash back welcome bonus of up to $300!†

Apply now

Pros

  • Very high cash back rates on eligible groceries and gas and electric vehicle charging

  • Lucrative welcome offer

  • Flexible cash back redemption policy

  • Premium Visa Infinite benefits†

  • No limit on the total cash back you can earn†

Cons

  • Maximum annual spending limits in accelerated cash back

  • High-ish annual fee

  • Mid-level income requirement

Eligibility

Recommended Credit Score

Good

Required Annual Personal Income

$60,000†

Required Annual Household Income

$100,000†

Pros

  • Very high cash back rates on eligible groceries and gas and electric vehicle charging

  • Lucrative welcome offer

  • Flexible cash back redemption policy

  • Premium Visa Infinite benefits†

  • No limit on the total cash back you can earn†

Cons

  • Maximum annual spending limits in accelerated cash back

  • High-ish annual fee

  • Mid-level income requirement

Eligibility

Recommended Credit Score

Good

Required Annual Personal Income

$60,000†

Required Annual Household Income

$100,000†

cash back on eligible gas, EV charging, and grocery purchases.†

4%

cash back on eligible transportation, dining purchases and recurring payments†

2%

cash back on all other purchases†

1%

save up to 10 cents per litre† at participating Pioneer, Fas Gas, Ultramar and Chevron gas stations.†

10 cents

Purchase APR

20.99%†

Balance Transfer Rate

22.99%†

Cash Advance APR

22.99%†

Annual Fee

$120

Both cards charge a $120 annual fee. However, both welcome bonuses essentially negate the fee. Though the CIBC Dividend Visa Infinite also gives you a 10% cash back welcome bonus that could add up to $300!† 

The CIBC Dividend® Visa Infinite gives you 4% cash back on groceries and gas. While it does limit how much you can spend, the limit is high—$80k in net annual purchases or $20k on groceries and gas or about $800 cash back. The biggest plus with the CIBC Dividend® Visa Infinite is that it rewards you for any groceries and gas. 

For a similar example, let’s say you spend $12,000 on groceries, $5,000 on gas, and $3,000 at Shoppers. You can redeem 10,000 points for $10 at Loblaws, Shoppers and Esso or Mobil. That means you get $980 cash back, but only for those stores. 

So, the question is—how loyal are you to Loblaws, Shoppers and Esso or Mobil? Is the $180 difference worth it? 

This offer is not available for residents of Quebec.

†Terms and Conditions Apply

This is a digital-exclusive offer.†

To be eligible for this offer:

1) this offer must have been directly communicated to you from CIBC or from a partner/affiliate; and

2) you must apply for the eligible card through the link provided in the CIBC or partner/affiliate communication to you.†

This offer is reserved for you. Please do not forward it to anyone else.

CIBC may approve your application, but you are not eligible to receive this Offer if you have opened, transferred or cancelled another Dividend card within the last 12 months.†

PC Insiders Vs. Scotiabank Passport Visa Infinite

Scotiabank Passport® Visa Infinite* Card 

Apply now

3.6

up to 35K pts

Welcome offer

Excellent

Suggested credit score

Earn up to $1,100* in value in the first 12 months, including up to 35,000 bonus Scene+ points

Expires

Nov 1, 2024

Apply now

Pros

  • No FX fees means the card saves you significant expenses on foreign transaction fees

  • Earn up to 3x Scene+ points per $1 spent on eligible purchases

  • Flexible and straightforward redemption program

  • Visa acceptance globally compared to American Express, especially outside major cities.

  • Enjoy six annual visits to airport lounges

  • Robust insurance offerings, including extended travel emergency medical coverage

  • Access to Visa Infinite Program benefits, with added advantages like a free supplementary card

Cons

  • High annual fee

  • Limited rewards categories for earning reward max rate on purchases

  • Primarily best for travel within Canada

Eligibility

Recommended Credit Score

Excellent

Required Annual Personal Income

$60,000

Required Annual Household Income

$100,000

Pros

  • No FX fees means the card saves you significant expenses on foreign transaction fees

  • Earn up to 3x Scene+ points per $1 spent on eligible purchases

  • Flexible and straightforward redemption program

  • Visa acceptance globally compared to American Express, especially outside major cities.

  • Enjoy six annual visits to airport lounges

  • Robust insurance offerings, including extended travel emergency medical coverage

  • Access to Visa Infinite Program benefits, with added advantages like a free supplementary card

Cons

  • High annual fee

  • Limited rewards categories for earning reward max rate on purchases

  • Primarily best for travel within Canada

Eligibility

Recommended Credit Score

Excellent

Required Annual Personal Income

$60,000

Required Annual Household Income

$100,000

Scene+ pointsÂą on every $1 you spend at Sobeys, Safeway, IGA, Foodland and participating Co-ops and more

3x

Scene+ pointsÂą for every $1 you spend on other eligible grocery stores, dining, eligible entertainment purchases and eligible daily transit options (including ride shares, buses, subways, taxis and more)

2x

Scene+ point for every $1 spent on all other eligible everyday purchases

1x

Purchase APR

20.99%

Balance Transfer Rate

22.99%

Cash Advance APR

22.99%

Annual Fee

$150

Foreign Transaction Fee

0.00%

If you're not super brand loyal when it comes to grocery shopping, but want to go where you'll score the best points, let's look at how the PC Insiders World Elite Mastercard compares with the Scotiabank Passport Visa Infinite.

- PC Insiders World Elite Mastercard Scotiabank Passport Visa Infinite
Annual fee $120 $150
Welcome offer 150,000 PC Optimum points 40,000 bonus Scene+ points and first year annual fee waiver
Earn rate per $1 Earn 40 points at Loblaw Banner stores
Earn 50 points at Shoppers Drug Mart stores
Earn 10 points everywhere else.
Earn up to 70 points per litre at Esso and Mobil gas stations.
Earn 3 Scene+ points on every $1 at Sobeys, Safeway, FreshCo and more.
Earn 2 Scene+ points for every $1 you spend on dining, other grocery stores, entertainment purchases, and daily transit (Uber, buses, subway, etc.)
insurance Emergency medical, rental car, purchase assurance and extended warranty Emergency medical, Trip cancellation, trip interruption, flight delay, delayed and lost baggage, rental car, hotel burglary, travel accident, purchase security and extended warranty
Benefits $0 grocery delivery No foreign transaction fees
6 Complimentary airport lounge access passes
Save on Avis car rentals
Review - Scotiabank Passport Visa Infinite review
Get started Apply now Apply now

Conditions Apply. Visit here for the Scotiabank Passport Visa Infinite to learn more. *See Card Provider's website and Card Application for complete card details, terms and current offers. Reasonable efforts are made to maintain accuracy of information.

Is the PC Insiders World Elite Mastercard worth it?

For the welcome bonus and $0 grocery delivery, if you shop at Loblaws and Shoppers, it’s worth it, at least for one year. Before you renew the card, decide if you want to spend $120 for groceries to be delivered. If not, go with the PC World Elite Mastercard.

PC Insiders World Elite Mastercard FAQs

  • What is the annual fee for the new PC Insiders World Elite Mastercard?

    +

    The annual fee for the PC Insiders Mastercard is $120 per year. In your first year, you get 150,000 Welcome bonus points which helps to offset the cost.

  • What are the income requirements for PC Insiders World Elite Mastercard?

    +

    As a single person, you’ll need to make at least $80,000. As a household, you’ll need $150,000 before tax to apply for this card.

Tyler Wade Content strategist & writer

Tyler Wade has worked in personal finance for over 5 years writing for brands like Ratehub, Forbes, KOHO, and now Money.ca.

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