Earn serious grocery rewards at Loblaws-family stores—with no annual fee
Rates, fees, and offers
PC Mastercard Overview
The PC Mastercard family is basically ‘one rewards program, four ways to play.’ All versions earn PC Optimum points, and most have no annual fee. The big upside is how strong the points can be inside the PC ecosystem—especially at grocery stores and Shoppers Drug Mart/Pharmaprix. If those are places you already spend money, the rewards can add up without changing your habits.
If you’re already buying groceries at Loblaws-family stores (think No Frills, Real Canadian Superstore, or Zehrs) or you practically live at Shoppers Drug Mart, this card lineup can feel like a cheat code. You’re earning points on purchases you’d make anyway, and redemption is dead simple: just use your points at checkout to knock money off your bill. No complicated transfer partners or blackout dates to navigate.
Where people get disappointed is flexibility. These points are great for groceries and pharmacy purchases, but they’re not built for travel redemptions or cash-out freedom. Also, the interest rate is high at 21.99%, so this is a card that shines when you pay in full each month. If you carry a balance, the interest can erase your rewards fast—which defeats the whole purpose of earning points in the first place.
Top features & our take
🛒Strong Rewards at PC Grocery Stores
- Earn elevated points at participating PC grocery banners (Loblaws, No Frills, Real Canadian Superstore, and more).
- Higher-tier cards (World Elite) earn up to 3% back on groceries, which is solid for a no-annual-fee option in most tiers.
- Best fit if groceries are your biggest monthly spend and you’re loyal to these stores.
- Points add up fast if you’re feeding a family or doing weekly shopping runs.
💊Big Earn at Shoppers Drug Mart
- This is where the card really shines: earn up to 4.5% back at Shoppers Drug Mart/Pharmaprix depending on your card tier.
- One of the best no-fee earn rates in Canada for a major drugstore chain.
- Great if you buy household essentials, beauty products, pharmacy items, or even groceries at Shoppers.
- Combine with in-store PC Optimum promotions for even bigger point hauls.
⚡Simple, Instant Redemption at Checkout
- Redeem points in-store starting at 10,000 points (worth $10 off your purchase).
- Feels like an immediate discount on essentials, not ‘someday travel points’ that sit unused.
- Redemption is available at 4,500+ locations across the PC ecosystem.
- Maximum $500 off per purchase, so you can make a serious dent in big shopping trips.
🧾No Annual Fee on Main Tiers
- PC Mastercard, PC World Mastercard, and PC World Elite Mastercard all cost $0 per year.
- Easy to keep long-term if it matches your shopping habits—no cost to maintain.
- The PC Insiders World Elite has a $120 annual fee but offers 250,000 welcome points and higher earn rates.
- Free additional cardholders on all tiers, so your partner or family member can earn points too.
🛡️Useful Protections and Insurance
- All tiers include purchase assurance and extended warranty coverage on eligible purchases.
- World Elite tiers add travel medical insurance, rental car coverage, and identity theft assistance.
- Not as comprehensive as premium travel cards, but solid protection for a no-fee card.
- Helpful if you’re traveling domestically or need basic purchase protection on big-ticket items.
How PC Mastercard can help you improve your credit score
If you’re trying to build or rebuild your Canadian credit score, this card can help—because it reports your activity to Equifax Canada and TransUnion Canada every month. The smartest way to use it is boring (and that’s a good thing): pay on time, every time. Set up autopay for at least the minimum payment, then pay the rest before the due date if you can. Consistent on-time payments are the single biggest factor in your credit score.
Another key factor is credit utilization—that’s how much of your available credit you’re using at any given time. Experts recommend keeping it under 30% of your limit most months, and lower is even better. If you have a $5,000 limit, try to keep your balance below $1,500 when your statement closes. This shows lenders you’re not maxing out your credit, which makes you look less risky.
One more thing: avoid carrying a balance if you can help it. With a 21.99% purchase APR, interest can snowball quickly and wipe out any rewards you’re earning. If you’re using this card to build credit, treat it like a debit card—only spend what you can pay off in full each month. A few steady months of this approach can do more for your score than any credit-building ‘hack’ you’ll find online.
Pros and Cons
Pros
- ✔ $0 annual fee on PC Mastercard, PC World, and PC World Elite tiers
- ✔ Very strong earn rates at PC grocery stores (up to 3%) and Shoppers Drug Mart (up to 4.5%)
- ✔ Points don’t expire and redemption is easy and instant in-store
- ✔ Free additional cardholders so family members can earn points together
- ✔ World Elite tiers include valuable travel insurance and rental car coverage
- ✔ Welcome bonus of 20,000 points (about $20 value) after first purchase on most tiers
Cons
- ✖ Best value only if you shop at Loblaws-family stores and Shoppers Drug Mart regularly
- ✖ Limited redemption flexibility compared to broader rewards programs like Aeroplan or Scene+
- ✖ 2.5% foreign transaction fee makes it expensive for travel or cross-border purchases
- ✖ High ongoing interest rate (21.99%) means it’s not a ‘carry a balance’ card
- ✖ Income requirements for World and World Elite tiers may block some applicants
Who can benefit — and who should look elsewhere
Who can benefit from this card?
- Loblaws-family grocery shoppers (No Frills, Real Canadian Superstore, Zehrs, etc.) who want rewards without paying an annual fee.
- Shoppers Drug Mart or Pharmaprix regulars who buy household essentials, pharmacy items, or beauty products frequently.
- Canadian families with heavy grocery spend who want simple ‘money-off’ redemptions instead of complicated points transfers.
- People who pay their balance in full each month and just want solid rewards on everyday spending.
- Drivers who fuel up at Esso or Mobil and want extra value at the pump (at least 3¢/L back in points).
Who should look for a different product?
- People who don’t shop at PC-affiliated stores often—you’ll likely do better with a more flexible rewards card like Tangerine Money-Back or Scotiabank Scene+.
- Frequent travelers or cross-border shoppers who need a card with no foreign transaction fees (consider the Home Trust Preferred Visa or Rogers World Elite Mastercard).
- Anyone who tends to carry balances month-to-month—a lower-interest card or balance transfer offer may save you more than points are worth.
- Folks who want ‘use points anywhere’ flexibility—PC Optimum points are locked into the PC ecosystem and can’t be transferred to travel programs.
How to apply
- Visit PC Financial’s credit card page at pcfinancial.ca and choose which tier makes sense for you (PC Mastercard for simplicity, World or World Elite if you meet the income requirements and want better earn rates).
- Fill out the online application with your personal info, income, housing costs, and employment details. The application usually takes 5-10 minutes.
- If you’re eligible, PC Financial will match you to the right tier based on your income and credit profile. You’ll get a decision instantly in many cases, or within a few business days if they need to review further.
- Once approved, wait for your card to arrive in the mail (usually 7-10 business days). It’ll come with activation instructions and your PC Optimum number if you don’t already have one.
- Activate your card online or by phone, then start using it for everyday purchases at PC stores, Shoppers Drug Mart, Esso, or anywhere Mastercard is accepted. Make your first purchase within 6 months to earn your welcome bonus.
- Set up autopay through your bank or PC Financial’s online banking to avoid missing payments. Then redeem your points in-store whenever you hit 10,000 points (worth $10 off your purchase).
FAQ
Are PC Optimum points worth 1 cent each?
Yes, when you redeem in-store. The math works out to 10,000 points = $10 off your purchase, which is effectively 1 cent per point. If you redeem points as a statement credit instead, you get less value (10,000 points = $7), so in-store redemption is always your best bet.
Do PC Optimum points expire?
No. PC Optimum points earned through these cards are marketed as non-expiring, so you can accumulate them over time without worrying about a use-it-or-lose-it deadline. That said, PC Financial reserves the right to change their terms, so it’s smart to check the fine print periodically.
Is there an annual fee?
Most tiers are free. The PC Mastercard, PC World Mastercard, and PC World Elite Mastercard all have $0 annual fees. The PC Insiders World Elite Mastercard has a $120 annual fee, but it comes with a massive 250,000-point welcome bonus (worth about $250 in-store) to offset the cost.
Do I need a minimum income to qualify?
The basic PC Mastercard has no stated minimum income requirement, so it’s accessible to more people. The PC World Mastercard and PC World Elite Mastercard have income requirements (typically $60,000 personal or $100,000 household for World Elite), so you’ll need to meet those thresholds to qualify for the higher-tier cards.
Does this card help build credit in Canada?
Yes. The card reports your payment activity to Equifax Canada and TransUnion Canada, so responsible use (paying on time, keeping utilization low, avoiding carrying balances) can help you build or rebuild a positive credit history over time. Just remember: it’s a tool, not a magic fix. Consistent behavior matters most.
Can I use PC Optimum points for travel or cash back?
Not really. PC Optimum points are designed for in-store redemptions at Loblaws-family stores, Shoppers Drug Mart, Joe Fresh, and other PC-affiliated retailers. You can redeem for statement credits, but the value is lower. If you want travel flexibility or straight cash back, consider a different rewards program like Aeroplan or a cash-back Mastercard.
What’s the difference between the PC Mastercard tiers?
The main differences are earn rates and income requirements. The basic PC Mastercard earns the lowest rates (about 1% at PC groceries, 2.5% at Shoppers) and has no income requirement. PC World and World Elite tiers earn more (up to 3% at groceries, 4.5% at Shoppers) but require higher incomes. The PC Insiders World Elite has a $120 annual fee but offers the highest welcome bonus and earn rates.
Conclusion
The PC Mastercard lineup is a strong ‘everyday essentials’ rewards pick for Canadians who shop the PC ecosystem regularly—especially if you’re spending big on groceries at Loblaws-family stores or stocking up on household items at Shoppers Drug Mart. Stick to the no-fee tiers (PC Mastercard, World, or World Elite) if you want solid value without any overhead cost, and make sure you’re paying your balance in full each month to avoid the 21.99% interest rate eating into your rewards.
That said, it’s not a one-size-fits-all card. If you shop at different grocery chains, travel frequently, or want flexible rewards you can use anywhere, you’ll probably get more value from a program like Tangerine Money-Back or Scotiabank Scene+. And if you carry balances, the high APR makes this card a poor financial choice—you’d be better off with a lower-interest option or a balance transfer card.
If this sounds like what you need—big grocery bills, Shoppers Drug Mart loyalty, and a preference for simple ‘money-off’ redemptions—the PC Mastercard is hard to beat. Start with the no-fee tier that matches your income level, use it for everyday spending, and redeem your points in-store for the best bang for your buck. It’s a straightforward, no-nonsense rewards card that delivers real value if you’re already shopping where the points matter most.
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