If you're a regular at Loblaws, you're sure as sunshine to be familiar with PC Financial Mastercards, but PC Financial just released a new credit card to their lineup, the PC Insiders World Elite Mastercard. This is sure to get PC Optimum collectors salivating.
Here's what you can expect from this new credit card and all the other juicy details.
Key Takeaways
- The new PC Insiders World Elite Mastercard is the latest credit card from PC Financial.
- The card's earn rates max out at a return of 7.5%.
- With this and other benefits, you will need to pay a $120 annual fee.
- This card becomes worth it if you shop mostly at affiliated stores and take advantage of the included PC Express membership.
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PC Insider World Elite Mastercard earn rates
Grab yourself a pack of no name napkins to wipe up all that drool. These earn rates are excellent if you collect PC Optimum Rewards and knock the socks off anything that PC Financial has ever offered before (at least before the annual fee kicks in).
- 40 points per $1 spent at PC stores
- 50 points at Shoppers Drug Mart stores
- 10 points per $1 + 7 points per litre at Esso
- 10 points per $1 spent on all other purchases
Each point is worth up to 0.15 cents each, but with the rate in which you earn your points, it's not that bad. You can see a return of up to 7.5% on your purchases if you play your cards right.
Here's a handy chart to show you how you can redeem your points for max value.
Of course, if you're not obsessed with constantly keeping your 2012 Dodge Caravan looking red carpet ready, you're still looking at a return of 5% if you redeem your points at grocery or gas. This is really good news since those represent easy redemptions that are still worth quite a lot.
PC Insider World Elite Mastercard welcome bonus
We've all become accustomed to a big welcome bonus, and this card doesn't shy away from offering a big bank of points. You'll be entitled to a massive welcome bonus of 150,000 PC Optimum points if you are able to spend at least $3,000 on your new card in the first 4 months.
Other PC Insider World Elite Mastercard benefits
It's not all about the Benjamins when it comes to this high-earning PC card. Since it's a World Elite Mastercard, you'll be able to get a bunch of perks.
PC Optimum perks
Once your new card is linked to your PC Optimum account, you'll get a complimentary PC Express Pass. This means you can take advantage of $0 online grocery delivery and pickup if you spend at least $35.
This is valued at $99 per year, so it can be a major timesaver (and/or money saver).
Basic insurance
With this card, you'll get emergency medical insurance for 10 days (so long as you're under 65). You'll also get some rental car coverage in the event of collision, theft, and damage. You'll also get basic purchase protection for 90 days and extended warranty.
4 additional cardholders
Pretty self-explanatory, but there won't be any fees for adding up to 4 more cardholders to your account.
PC Insiders World Elite Mastercard requirements
Of course, nothing comes for free, so if you're interested in this card, you'll have to worry about 2 minor things.
First off, to be considered for the card, you'll need to meet income requirements of $80,000 personal or $150,000 household.
Secondly, there's an annual fee that you'll need to account for. In this case, it's $120 per year. But if you shop a lot at Loblaws stores or gas up often at Esso, you should be able to make it back easily (especially if you use the PC Express Pass).
How to upgrade to the PC Insiders World Elite Mastercard
In the age of computers, it's super-easy to level up your credit card, and in this case, it's no different. All you have to do is sign in on the PC Insiders World Elite Mastercard product page and apply. You can also check on your mobile app.
If you're accepted to this new cool kid's club, you'll be good to go.
What if I have an existing PC Express Pass or PC Optimum Insiders subscription?
One thing that you should keep in mind is that if you already are a subscriber to one of PC Optimum's premium subscriptions, they will be cancelled once you get this new credit card. The good news is that you'll get a refund on the remaining portion of your subscription fee.
How does the PC Insiders World Elite Mastercard compare to other PC Financial credit cards?
For those who already have another PC Financial product, let's do a quick comparison between the PC credit card options.
| Earn rates | Annual fee | Insurance coverage | Income requirements | |
|---|---|---|---|---|
| PC Mastercard | * 10 points per $1 spent at PC stores * 25 points per $1 spent at Shopper's Drug Mart * 10 points per $1 + 10 points per litre at Esso * 10 points per $1 spent on all other purchases |
$0 | * Extended warranty * Purchase protection |
N/A |
| PC World Mastercard | * 20 points per $1 spent at PC stores * 35 points per $1 spent at Shopper's Drug Mart * 10 points per $1 + 10 points per litre at Esso * 10 points per $1 spent on all other purchases |
$0 | * Extended warranty * Purchase protection |
$60K personal/$100K household |
| PC World Elite Mastercard | * 30 points per $1 spent at PC stores * 45 points per $1 spent at Shopper's Drug Mart * 10 points per $1 + 10 points per litre at Esso * 10 points per $1 spent on all other purchases |
$0 | * Extended warranty * Purchase protection * 10 days emergency medical * Rental car theft & damage |
$80K personal/$150K household |
| President's Choice Insiders World Elite Mastercard | * 40 points per $1 spent at PC stores * 50 points per $1 spent at Shopper's Drug Mart * Up to 70 points per $1 at Esso and Mobil * 10 points per $1 spent on all other purchases |
$120 | * Extended warranty * Purchase protection * 10 days emergency medical * Rental car theft & damage |
$80K personal/$150K household |
As you can see, you'll get slightly higher earn rates with the Insiders card, but it comes as the only card with an annual fee. This will definitely eat into your earnings, so it may not be the best card for groceries in general. This is especially true unless you're shopping exclusively at Loblaws and Shoppers.
One thing that this chart can't show is that there is a minimum spend for the PC World Elite Mastercard. This has been a major thorn in the side of those who get excited by the prospect of a no annual fee World Elite Mastercard. If you want to go with this card, you'll have to spend at least $15,000 annually on the card to maintain eligibility.
In the end, one thing that we can say is that if you were shelling out on a PC Optimum Insiders membership and using it often, it may make getting the card more worth it, but as we mentioned in our analysis of the PC World Elite Mastercard, there are some better alternatives that have much greater value because there is no ball and chain when it comes to buying groceries.
Cards like the MBNA Rewards World Elite Mastercard are much better alternatives because the earn rates aren't confined to just Loblaws stores and their partners. If you shop outside of that ecosystem, you'll be seeing much greater returns. That's what makes them better, not only as grocery credit cards, but better cards overall.
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Would you go for this new PC Financial offering?
So with the new PC Insiders World Elite Mastercard launching, would you be first in line to get it? Or would you prefer to grab your 10-foot-pole and keep what you have?
Let us know what you think in the comments below, and best of luck in earning your PC Optimum points!
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