PC MasterCard Review

The PC MasterCard was my first rewards credit card. I like this card for two reasons – it has no annual fee, and I can earn PC Optimum Points that can be redeemed for free groceries at Loblaws and Shoppers Drug Mart stores.

I used my PC MasterCard for every purchase (about $2,000 per month at that time) and earned about $20 per month in free groceries. PC Optimum points are automatically updated to your account every few days after making purchases. Once you reach 20,000 PC Optimum Points you can redeem them right at the check-out anywhere PC products are sold.

PC MasterCard Review

PC MasterCard Review

The PC MasterCard is one of the most straightforward and easy to use reward credit cards in Canada. This card comes with a host of benefits that are not found in most no fee credit cards:

  • Earn 10 PC points for every $1 spent, anywhere you shop
  • New cardholders receive a low balance transfer rate of 0.97% for 6 months
  • Request up to four free additional cards on your account for family members
  • Free Purchase Assurance in case of theft, loss or damage in the first 90 days
  • Use your card to get free extended warranty – it doubles the manufacturer’s regular warranty for up to an additional year

Redeeming PC Optimum Points

You can begin redeeming once you have earned 10,000 PC Optimum points. Or, redeem higher amounts in further increments of 10,000 PC Optimum points (which is equivalent to a further $10 in rewards).

Just present your PC MasterCard at the check-out at participating stores where President’s Choice products are sold and tell the cashier that you’re redeeming your PC points.

How Many Points Can You Earn?

In order to maximize your rewards, you should try and pay for every purchase with your credit card. I spend approximately $2,600 per month on my credit card, including $600 on gas and groceries. Let’s take a look at how many points I could earn now from the PC MasterCard in the 1st year:

  • Initial start-up offer – 40,000
  • Online application bonus – 5,000
  • 1% rebate on every purchase – 312,000

Total PC Optimum Points earned in the first year: 357,000 = $357

Final Thoughts on the PCMasterCard

If you bank at PC Financial and shop regularly at Loblaws or Superstore, – and now Shoppers Drug Mart – it makes sense to use the PC MasterCard to earn even more PC Optimum Points.

The PC MasterCard is a great credit card for anyone looking for no annual fee and a straight-forward rewards program. It was my go-to rewards credit card for years and it remains one of the best no-fee cash back credit cards in Canada.


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  4. Richard Rinyai on February 6, 2012 at 9:04 am

    I have a PC MasterCard as well, but am thinking of switching to the MBNA Smart Cash Card instead. The customer service and website of PC is not the greatest.

    I would rather get money back as I can use it towards ANY purchase, as opposed to just groceries. That’s why I have my CIBC VISA Dividend card.

  5. Roger on February 22, 2012 at 10:58 am


    I got taken.

    I put $11,300 on the PC MasterCard promotion 6 month for 1.97%

    I called before I used the promo chq and asked…

    I always pay off my MasterCard so I don’t get interest charges. So how much should I put on the card for the statement due Feb 6? The lady told me no problem just pay at least $1500 will bring your amount below the $11,300 value and all will be fine.

    NOT TRUE. I call when I received the next statement to find out that it does matter. The $11,300 gets the 1.97% and now everything over that amount I get charged 19.97%. If I do not want to be penalized I by paying the 19.97% interest charges on all new purchases I would need to pay the whole amount off.

    So this month so far I paid out $30.99 for the 19.97% for just using the card normally. (paying off the card every month like I always do I would not be charged this)
    and $18.23 for the promo 1.97% (whippy do.. just got robed for the 19.97% fee)

    This is a scam to get people to pay interest on there credit card where they usually would not be paying. Hopefully they give the person who thought this up a big bonus chq.

    To get back to normal:
    I will pay the whole amount off A.S.A.P. and I will have to not use the MasterCard for over a month to get back to where I don’t pay interest charges. Actually I will have to over pay because automatic payments come off my card for Cell phone, etc. Going to be lots of fun to figure all this out. Might take me 6 months to get it where I don’t pay interest again. Might just decide to cancel the card to make it easier.

    Live and learn…. Banks do it so while.

    I guess if you want to take advantage of the 1.97% you would have to use the promo chq and make sure you have no extra charges on the card and do not use the card until you pay off the promo amount. Before the 6 months are up.

    • Smith on March 5, 2012 at 10:57 am

      Why not try paying off that credit card instead of bitching about the interest.

      Newsflash: All Credit Cards are a scam. The only way YOU benefit is when you pay off the entire balance every month.

  6. Gb2 on March 5, 2012 at 1:10 pm

    Got to agree with Roger and Richard. $20 per month is not worth the trouble of tring to straighten out their mistakes. Their staff is terrible, the worst I have dealt with. Stay away!!

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