• Annual Fee: $0
  • APR: 20.97%
  • Maximum Earnings Rate: 45 points per $1 spent at Shoppers Drug Mart
  • Personal Income Requirements: $80.000
  • Credit Score Requirements: Average to Excellent

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PC Financial World Elite Mastercard Review: Pros and Cons [Reviewed in 2022]

Not sure if the PC Financial World Elite Mastercard is actually worth it? Well then, strap in and get ready to find out more about the card’s main features and perks in our in-depth PC financial world elite Mastercard review. There’s much to explore so let’s get into it.

PC Financial World Elite Mastercard Review: Pros and Cons [Reviewed in 2022]

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  • Annual Fee: $0
  • APR: 20.97%
  • Maximum Earnings Rate: 45 points per $1 spent at Shoppers Drug Mart
  • Personal Income Requirements: $80.000
  • Credit Score Requirements: Average to Excellent

Best For

Travel rewards


  • No annual fee
  • 21 days interest-free grace period
  • High rewards rates
  • Points don’t expire
  • Identity theft assistance
  • Complimentary concierge service


  • Relatively high income requirement
  • Limited travel insurance benefits
  • Limited Redemption Flexibility


PC Financial is a Canadian financial institution that’s been in business since 1997. With its headquarters in Toronto, Ontario, the company operates as a division of Loblaw Companies Limited, one of Canada’s largest retailers. It offers a wide range of personal and commercial banking products and services to its more than three million customers across the country.

The President’s Choice Financial World Elite Mastercard, first issued in 2007, is one of the company’s most popular products. Thanks to its long list of benefits and rewards, it has rightfully earned a place among the best no annual fee credit cards available in Canada.

Main Features

The PCF Mastercard comes with a ton of useful features that you can take advantage of. Let’s take a look at some of the key features to look out for:

Earn Rates

The earn rates for the PC Financial Elite Mastercard are quite favourable, especially if you consider the card’s no-fee membership plan. Here’s a shortlist of all the ways that you can earn redeemable points:

  • 45 points per $1 spent at Shoppers Drug Mart
  • 30 points per $1 spent at Loblaw Grocery and Partner Stores
  • 30 points per litre of fuel at Esso or Mobil gas stations
  • 30 points per $1 spent at PC Travel
  • 10 points per $1 spent everywhere else

With so many options, you have the freedom to pick and choose how you want to earn your points to work your way up to your goals. And don’t feel pressured to redeem your points straight away – they never expire as long as your account remains open and in good standing.

Spending Categories

Once you’ve accumulated enough PC Points, you can redeem them for valuable PC Financial Mastercard rewards. But here’s the tricky part – you can only do so with groceries and other products bought from the long list of Loblaw Retail Stores, either in-person or online. And that’s about as far as it goes.

A pool of 1.000 points will get you a $1 discount on your purchase, provided that you use your PC World Elite Mastercard. Keep in mind that you’ll need a minimum of 10.000 and a maximum of 500.000 points per transaction to redeem your rewards. In both cases, points can only be redeemed in $10 dollar instalments.

So for example, let’s say you have a balance of 38.000 points in your PC Mastercard World Elite account. You have two options here – either wait until you’ve earned an additional 2.000 points to make a $40 redemption or use 30.000 points to get $30 in return. The choice is up to you.

Tap to Pay

The PC Financial Mastercard in Canada allows you to use the tap to pay technology for purchases of up to $200. Simply tap your card on the POS system at the store and you’re good to go – no need for PINs or signatures. This makes paying for your purchases quick and easy, without all the added hassle.

Emergency Card Replacement

If you lose your card or it’s stolen, don’t worry – PC Financial has you covered. The company offers a complimentary emergency card replacement service so you can get a new card as soon as possible and continue your adventures without any interruption. All you have to do is report the issue to PC Financial’s customer service team and they’ll take care of the rest.

Additional Perks and Benefits

Aside from all the great features discussed previously, you’ll also get the chance to enjoy a few additional PC Mastercard benefits.

Travel Emergency Medical Insurance

The PC World Elite Mastercard travel insurance is available to anyone under the age of 65 for the first 10 consecutive days of a trip. As long as your card is in good standing at the time of the incident, insurance covers up to $1.000.000 in expenses, including hospital accommodation and medical charges, ambulance service, prescription medication and appliances, dental care and return airfare.

Car Rental Collision/Loss Damage Waiver Insurance

This type of insurance is only applicable for 31 consecutive days of car rental coverage in case your vehicle gets damaged or stolen. You have to rent the vehicle in your name, pay the full cost with your President’s Choice Financial World Elite Mastercard and decline the agency’s insurance policy. Only on these conditions will your expenses be covered by PC Financial.

Identity Theft Assistance Service

This service will help you get your life back on track and resolve any issues that may have arisen as a result of identity theft. You’ll receive free legal advice on topics such as protecting your personal information and documents, spotting the signs that your identity may have been stolen and the steps you should take to minimize potential damage.

Concierge Service

Another great perk of being a PC Financial Mastercard World Elite holder is access to the company’s complimentary concierge service. Available 24/7, this service can help you out with tasks like completing any kind of reservation or booking requests, gift baskets and floral delivery arrangements as well as emergency medical appointments.

Account Balance Protection

PC Financial’s account balance protection service is a great way to ensure that you never lose access to your funds. If for some reason your card gets lost or stolen, this service will automatically transfer funds from your backup payment method to cover any transactions that may have been made on your card.

Credit Alert® Plus

This is the ultimate tool that helps you keep a close eye on your credit and identity information. You’ll have constant access to sensitive data such as your PC World Elite Mastercard credit limit and identification details. In this way, you’ll be able to promptly recognize any suspicious activity and take the necessary steps to secure your account.

Rates and Fees

As with any credit card, it’s important to be aware of the rates and fees that come with becoming a cardholder. The PC financial Mastercard interest rate comes in at 20.97%, which is a little higher than the average rate for most no-fee cards, including the RBC Cash Back Mastercard.

Both the cash advance and balance transfer APR come in at 22.97%, coupled with a foreign transaction fee of 2.5%. But even if the card has some slightly higher rates and fees, it’s important to remember that you’re getting access to a number of great features and benefits that outweigh this cost.

Application Process

If you want to send in a PC credit card application, there are several eligibility requirements you need to meet in order to receive approval, such as:

  • You must be a Canadian citizen or permanent resident
  • You must be over the age of majority in your province
  • Your credit score must be average to excellent
  • You need a minimum personal income of $80.000

Most of the criteria are universally present among credit cards of the same ballpark, with the only standout feature being the somewhat higher PC World Elite Mastercard income requirement. In comparison, the MBNA Amazon Card has no such requirement set in place.

In any case, if you meet the eligibility requirements, you can start the application process by clicking on the “Apply Now” button on PC Financial’s website. From there, you’ll need to provide your personal and financial information, including your name, address, income and monthly expenses.

The card issuer will do a hard credit check when reviewing your application, to ensure that you’re a responsible and reliable candidate. Once your application is approved, you should receive your card in the mail within 7-10 business days.

Want to Consider Other Options?

If the World Elite Mastercard by PC Financial doesn’t quite fit your needs, there are a number of similar options on the market. We’ve put on our detective hats to help you narrow down your choices with two potential alternatives.

PC Financial World Elite Mastercard vs Refresh Financial Secured Visa Card

Despite having a minimal annual fee of $12.95, the Refresh Financial Visa card is a great alternative for those who are looking to rebuild their credit. This card boasts a comparably low interest rate of 17.99%, which makes up for the annual fee and can help you save money in the long run.

Thanks to these features, the Refresh Financial Visa is a great option for those who have been struggling with their credit score. Its credit score building and tracking features can help you monitor your progress closely and make sure that you’re on the right track.

PC Financial World Elite Mastercard vs Tangerine World Mastercard

Another no-fee credit card, the Tangerine World Mastercard offers a number of great features that make it a great alternative to the PC Financial World Elite card. The low-cost card carries a 19.95% interest rate,  which is slightly higher than that of the PC Financial card. The balance transfer and cash advance APR rates fall in the same range at 19.95%.

Where the Tangerine card really shines is in its rewards program. The card offers 2% cash back on all purchases, which can add up to a significant amount of savings over time. There is also no limit to the amount of cash back you can earn, giving you the freedom to earn as many returns as you’d like. This makes the Tangerine World Mastercard a great choice for everyday spending and use.

Final Verdict

With that, we wrap up this PC Financial World Elite Mastercard review. As things stand, it’s a great option for anyone looking for comprehensive cardholder benefits. The card’s higher interest rate is effectively offset by its lack of an annual fee. Plus, with features such as identity theft assistance, concierge service and account balance protection, you’ll have everything you need to make the most out of your card.


With an early start in journalism and years of work as a technical translator, Marija felt it was natural to blend the two. Passionate about news and research, she enjoys sifting through the data, researching new currents and the constant changes in our technologically and financially driven lives, as well as presenting the stats and facts to the readers so you don’t have to dig deep on your own.