What the Card Offers
PC Financial markets the PC Mastercard as its no-fee everyday rewards card: 50,000 bonus PC Optimum points, 1% back in points everywhere, 2.5% at Shoppers Drug Mart and at least 3¢ a litre at Esso and Mobil.
- $0
No annual fee1
No annual fee, and additional cards are free.
- 1%
Back in points everywhere2
10 PC Optimum points per $1 on all purchases.
- 2.5%
At Shoppers Drug Mart3
25 points per $1 at Shoppers Drug Mart and Pharmaprix, including the 15 points every PC Optimum member earns.
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- 50,000
Welcome points4
50,000 PC Optimum points ($50) after you spend $100 at participating PC Optimum stores within 60 days.
- 3¢/L
At Esso and Mobil5
At least 30 points per litre of gas at Esso and Mobil stations in Canada.
- $10
Per 10,000 points6
Redeem 10,000 points for $10 off purchases at participating stores.
Benefits as advertised by the issuer. The conditions attached to them are in the Fine Print Report below.
Sources (6)
- PC Mastercard product page (retrieved 2026-10-19)
- PC Mastercard product page, footnote 2 (retrieved 2026-10-19)
- PC Mastercard product page, footnote 5 (retrieved 2026-10-19)
- PC Mastercard product page, footnote * (retrieved 2026-10-19)
- PC Mastercard product page, footnote 4 (retrieved 2026-10-19)
- PC Mastercard product page, footnote 3 (retrieved 2026-10-19)
Points & Redemption
Rates: PC Optimum Program Terms & Conditions, s. 4 (current as of August 1, 2026); PC World Elite Mastercard product page, footnote ‡ and "Pay down your balance with points" (retrieved 2026-10-19). The CardTruth estimate is our own valuation, not a rate stated in the terms. It assumes the redemption described above; most other options return less.
The Fine Print Report
Light fine print. A basic card whose bonuses mostly come from the PC Optimum program.
Grocery rate is the same 1% as everywhereImpact level: Medium
The grocery and Joe Fresh rates are the same 1% the card earns everywhere
The page lists 1% back in points at PC Optimum grocery stores and Joe Fresh. That's the card's base rate of 10 points per $1, which applies to every purchase; this card has no grocery bonus. Its only boosts are at Shoppers Drug Mart and Esso and Mobil gas stations, and part of each comes from the PC Optimum program itself.
Why it matters: As a grocery card it earns the same as a 1% card anywhere. The PC World and World Elite cards earn 2% and 3% at the same stores.
Advertised rates include points anyone getsImpact level: Medium
Part of the advertised Shoppers and gas rates is earned by every PC Optimum member, whatever card they use
The page advertises 2.5% back in points at Shoppers Drug Mart and Pharmaprix. Of that, 15 points per $1 (1.5%) is the base rate every PC Optimum member earns, so the card itself adds 1% (10 points per $1). Likewise, the gas rate counts 10 points per litre that every member earns at Esso and Mobil.
Why it matters: When comparing this card with others, count only what the card adds. Paying at Shoppers with any card and scanning your PC Optimum card still earns the 1.5%.
You may be approved at 26.99%, not 21.99%Impact level: Medium
The advertised 21.99% isn't guaranteed: you can be approved at 26.99% on purchases instead
PC Financial approves each account at either the Standard rates (21.99% on purchases, 22.97% on cash advances) or the Basic rates (26.99% and 27.97%), based on its assessment of your creditworthiness. You find out which after approval. The Basic rate isn't offered in Quebec.
Why it matters: If you carry a balance, the rate on your approval letter matters more than the one on the product page. Check it before you rely on the card for borrowing.
2 missed payments in a row: 26.99%Impact level: Medium
Two missed payments in a row raise the rate on your whole balance to 26.99%
If you don't make the minimum payment by the due date for two consecutive months, the Default rates of 26.99% on purchases and 27.97% on cash advances apply to your entire unpaid balance. Separately, after a review of your account use (for example going over your limit or a dishonoured payment) or your credit report, PC Financial can raise your rates to 26.99% and 27.95% with notice. The documents don't say when either rate returns to normal.
Why it matters: Set up automatic minimum payments. A rate increase applies to everything you owe, not just new purchases.
2.5% FX fee, kept even when refundedImpact level: Medium
Foreign currency purchases cost 2.5% extra, and the fee isn't returned on refunds
Purchases and cash advances in a foreign currency are converted at Mastercard's rate plus a 2.5% markup. When a foreign purchase is refunded, 2.5% is deducted from the refund as well, and the markup on the original purchase isn't returned. The agreement says you are responsible for any difference.
Why it matters: Every $1,000 spent in a foreign currency costs about $25 in fees, and a returned foreign purchase can cost about the same again.
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Default: can take money from other accountsImpact level: Medium
In default, PC Financial can take money from your other accounts with it or its affiliates without notice
If you default (for example by missing two minimum payments in a row), PC Financial can require the full balance, and can offset it against any other balance or account you have with it or its affiliated companies without telling you first. It can also close or suspend the account at any time without notice.
Why it matters: If you also bank with PC Financial (the PC Money Account) or its affiliates, an unpaid card balance can be taken from that money directly.
Points on your bill: $7 per 10,000, not $10Impact level: Medium
Points used against your card balance are worth $7 per 10,000, not the $10 they're worth in store
10,000 PC Optimum points are worth $10 on purchases at participating stores, but PC Financial's statement credit pays $7 for the same 10,000 points. A statement credit also isn't a payment: you still have to make the minimum payment by the due date, even if the credit brings your balance to $0. Once made, a redemption can't be reversed.
Why it matters: Redeeming 100,000 points against your balance gets you $70 instead of $100 at the till. Spend points in store unless you need the credit.
Welcome offer: $50 in pointsImpact level: Low
The 50,000-point welcome offer is worth $50 and needs $100 spent at PC Optimum stores within 60 days
The welcome bonus is 50,000 PC Optimum points, worth $50 at participating stores. You must spend $100 at Loblaw banner grocery stores, The Mobile Shop, Joe Fresh, Shoppers Drug Mart, Pharmaprix, Esso or Mobil within 60 days of approval. It's for new accounts only, applications by December 31, 2026, and points take 4 to 6 weeks to arrive.
Why it matters: Easy to earn, but small: $50 is less than many no-fee cards offer.
No travel insuranceImpact level: Low
Only purchase protection and extended warranty; no travel insurance
The card's insurance covers new purchases against theft, loss or damage for 90 days (up to $1,000 per incident and $50,000 over the life of the account) and doubles manufacturers' warranties by up to 1 year. There's no travel medical or rental car coverage.
Why it matters: If you travel, you'll need separate travel insurance.
10,000-point steps; leftover value is lostImpact level: Low
Points can only be redeemed in 10,000-point steps, and the leftover value of a step is lost
PC Optimum points are redeemed 10,000 at a time ($10), up to $500 per transaction. If you redeem a step worth more than what's left of the bill, the difference is forfeited, for example redeeming $40 of points on a $37 purchase loses $3.
Why it matters: You need 10,000 points before you can use any of them, which on the base rate means $1,000 of card spending outside PC Optimum stores.
45 days to use points after closingImpact level: Low
Close your last PC Financial card and you have 45 days to use or move your points
If a PC Financial card is your only link to the PC Optimum program, closing your last PC Financial account gives you 45 days to redeem your points or add another card to your PC Optimum account; after that, the points may be forfeited. Points don't expire, but PC Optimum can close an account with no earning or redemption activity for 2 years.
Why it matters: Redeem or link a PC Optimum card before closing the credit card.
Earn is rounded down; some items excludedImpact level: Low
Purchases are rounded down to the dollar, and some purchases earn no points
Points are calculated on the purchase amount rounded down to the nearest dollar, so a $9.99 purchase earns points on $9. The PC Optimum terms exclude tobacco, lottery tickets, alcohol, gift cards, prepaid cards and transit passes from earning or redeeming points, and returns deduct points at the card's earn rate on the day of the return.
Why it matters: Small and excluded purchases earn less than the advertised percentage suggests.
Cash-like purchases: 1% fee ($5–$10)Impact level: Low
Wire transfers, money orders, lottery tickets and casino chips carry a 1% fee
Transactions the merchant identifies as cash-like, including wire transfers, money orders, traveller's cheques, permitted betting, lottery tickets and casino chips, are charged a cash equivalent fee of 1% (minimum $5, maximum $10). They are treated as purchases otherwise.
Why it matters: A $20 purchase that the merchant flags as cash-like costs $5 in fees.
Who This Card Is For
Great fit if you...
- Shop at Shoppers Drug Mart often
- Buy gas at Esso or Mobil
- Want a no-fee PC Optimum card
Consider alternatives if you...
- Want a grocery bonus
- Carry a balance
- Want travel insurance
- Make foreign-currency purchases
Welcome Bonus History
PC Mastercard Welcome Bonus History
The Verdict
The PC Mastercard has no fee and earns 1% in PC Optimum points everywhere, with more at Shoppers Drug Mart and Esso and Mobil.
It has no grocery bonus, points are worth less as a statement credit, and the 21.99% rate isn't guaranteed at approval.
The Recommendation: Fine as a no-fee way to add PC Optimum points; a grocery cash back card earns more on groceries.
Before you apply: This teardown is general information, not financial, legal or insurance advice, and reflects the issuer's documents as of October 2026. Terms, rates, fees and offers change, and the issuer's own agreement, disclosure statement, insurance certificates and program terms are what govern your card. Read them in full and confirm details with the issuer before you apply. Full disclaimer