A fan favourite in the credit card community, PC Financial Mastercards provide easy-to-use PC Optimum points on all purchases, with terrific earn rates at Loblaws stores. And it’s all for no annual fee.
But, a big change has come into effect for the big daddy of the group – the PC Financial World Elite Mastercard is now having its spend requirement enforced.
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PC World Elite Mastercard enforcing $15,000 in annual spend
If you have this card, you may have already received your letter from PC.
PC Financial World Elite Mastercard holders have technically always been required to spend $15,000 annually to maintain their eligibility for the card, but it hasn’t been enforced previously.
The worst part? There was no heads up from PC Financial that this was coming. If you hadn’t spent $15,000 over the last year, your account automatically got downgraded. You had no chance to reach it.
One last catch – as of writing, PC Mastercard still hasn’t listed this requirement on their website. So if it’s a credit card you may want to consider getting, you’ve been forewarned about it.
Does this affect other no fee World Elite Mastercards?
It’s not the first time this requirement has appeared with a World Elite Mastercard.
The Rogers World Elite Mastercard started enforcing this requirement last year. But unlike PC, Rogers gave their cardholders warning that this was coming into effect.
There’s one other no fee World Elite Mastercard that hasn’t yet followed suit – the Canadian Tire Triangle World Elite Mastercard.
If it happens to this card too, we’ll let you know when we hear something.
Alternatives to the PC Financial World Elite Mastercard
Bummed about the change? Angry that PC Financial didn’t say anything beforehand?
Here are a few alternatives to the PC Financial World Elite Mastercard. We’ve also left out Amex cards, since they can’t be used at Loblaws stores – although many Amex credit cards are terrific for groceries elsewhere, especially the
| Credit Card | Welcome Bonus | Earn Rates | Annual Fee, Income Requirements | Apply Now |
|---|---|---|---|---|
| Scotiabank Momentum Visa Infinite | None | * 4% cash back on groceries and recurring bill payments * 2% cash back on gas and transit * 1% cash back on all other purchases |
* $120, first year free * $60K personal/$100K household |
Apply Now |
| BMO eclipse Visa Infinite | Up to 70,000 points (terms) | * 5 BMO Rewards points for every $1 spent on dining, groceries, gas, and transit * 1 point per $1 spent on all other purchases |
* $120, first year free * $60K personal/$100K household |
Apply Now |
| BMO CashBack Mastercard | 5% cash back for the first 3 months (terms) | * 3% cash back on groceries (up to $500 per month) * 1% cash back on recurring bill payments (up to $500 per month) * 0.5% cash back on all other purchases |
* $0 * $15K personal |
Apply Now |
| Tangerine Money-Back credit card | Earn an extra 10% cash back for the first 2 months, up to $1,000 spent (terms) | * 2% cash back on purchases in up to 3 Money-Back Categories * 0.5% cash back on all other purchases |
* $0 * $12K personal |
Apply Now |
| MBNA Rewards Platinum Plus Mastercard | Up to 10,000 points (terms) | * 2 points for every $1 spent on restaurants, groceries, and select recurring bills (up to $10,000 spent annually per category) * 1 point per $1 spent on all other purchases |
* $0 * None |
Apply Now |
Our best cash back credit card
GC: $20
$20 GeniusCash + 10% cash back on purchases for 3 months + 4% cash back on groceries.*
For the most cash back rewards on groceries, the
You’ll earn 4% cash back on groceries and recurring bills, as well as 2% cash back on gas and transit, and 1% on everything else.
Plus, it has 11 types of insurance.
A flexible rewards Visa
GC: $150
For flexible rewards, the
You’ll earn 5 BMO Rewards points on not only groceries, but also restaurants, gas, and transit. With a point worth 0.67 cents when redeemed for travel, you’ll get a return of up to 3.35% on these purchases.
You’ll earn 1 point per $1 spent on all other purchases.
It also has 2 unique features. Every year you have the card, you’ll get a $50 annual lifestyle credit, and earn 10% bonus points when an authorized user is added to the account.
Best no fee cash back card for groceries
One no fee cash back alternative is the
You’ll earn 3% cash back on all your grocery purchases, up to $500 spent monthly. You’ll also earn 1% cash back on recurring bills, and 0.5% cash back on everything else.
Plus, you can earn 5% cash back for the first 3 months, up to $2,500 in spend.
A flexible, no fee cash back credit card
×1 Award winner GC: $125
1x Award winner
Another card to earn cash back rewards with no annual fee, we suggest looking at the
You can earn unlimited 2% cash back on up to 3 categories of your choosing, one of which is groceries.
You’ll earn 0.5% cash back on all other purchases.
For a few more perks and benefits, you can also get the
GC: $125
No fee flexible rewards
Finally, the
You’ll earn 2 MBNA Rewards points per $1 spent on groceries, restaurants, and gas, up to $5,000 spent annually on each category. You’ll earn 1 point per $1 spent afterwards.
And, it includes 3 types of insurance.
Find the best credit card for you
There’s more than just these 5 credit cards, of course. Here are some ways you can find the best credit card for you.
You can start with our creditcardGenius Quiz. Take our 3 minute quiz, and we’ll find the best credit card for you. Plus, you’ll earn $10 for everyone who gets approved.
Or, you can head to our compare cards page, and change any features and settings you like, with cards updated in real time.
Finally, peruse our best card pages and blog for other best cards and tips to consider.
Your turn
It’s not great news if you have a PC Financial World Elite Mastercard, but there are other options out there to consider.
What are your thoughts on the change? Are you still sticking with PC Mastercard or going to look for something else?
Let us know in the comments below.
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GC: 
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