PC Mastercard holders have an exclusive new way to use PC Optimum points: You can now use your points to pay off your credit card statement.
Does it give you the best value? Sadly, no. 10,000 points will pay $7 on your statement, compared to the $10 redemptions available for gas and groceries.
This means spending your PC Optimum points to pay your balance nets you 30% less than using your points in a Loblaws grocery store for free food. But it's still an option to consider. If you have points stacked up and an outstanding balance to pay, you can use points to lower your total debt, decreasing what you’ll owe in monthly interest.
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How to use PC Optimum points to pay your Mastercard
When you log in to your PC Mastercard account, you’ll see a new option to redeem your points.
Click on this new button to turn your PC Optimum points into a statement credit to help pay your current bill. Every 10,000 points you use will turn into $7 towards paying your current statement balance.
When using PC Optimum points to pay your PC Mastercard, you need to spend at least 10,000 points at a time. However, you can redeem points toward the same statement as many times as you like, so long as you don’t have another pending redemption or exceed a maximum of 500,000 points.
Is it the best option for your points? Unfortunately not. It offers 30% less value than you’ll get at PC grocery stores like No Frills and Loblaws or gas stations like Esso and Mobil.
If you can afford to pay $7 in cash instead, you’ll save $3 in the long run, because your 10,000 points can go toward your next grocery or gas bill, essentially saving you $10 on next month’s statement.
Important note: PC Optimum point redemptions don’t count toward your credit card’s minimum payment. You still need to make your minimum payment in cash, even if you have enough points to cover your entire balance.
Eligible PC Mastercards
Which cards are eligible? All PC credit cards can make use of this new PC Optimum points redemption option.
- PC Mastercard
- PC World Mastercard
- PC World Elite Mastercard
- PC Insiders World Elite Mastercard
However, we don’t believe PC Money Account users will be able to use this option to top up their prepaid cards.
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