Presidents Choice Financial Mastercard Review

Should you consider the Presidents Choice Financial Mastercard? It is an excellent option if you are looking for a no-fee credit card. With grocery prices soaring and budgets tight, what could be better than a no-annual-fee credit card that earns you free groceries?

President\’s Choice Financial is the PC Brand\’s banking arm, and PC is a Loblaws brand. PC offers no-fee banking, Mastercard Credit cards, and insurance. PC Financial has existed in Canada since its establishment in 1998. PC Financial accounts earn PC Optimum points: The Loblaws/ Shoppers Drug Mart reward program.

Start earning PC Optimum points on your everyday spending. This card allows you to accumulate points faster than ever, from groceries and gas to anything else you purchase. Plus, you can redeem your points towards the things you love at participating stores, helping you save even more – not only on groceries.

Overview of the Presidents Choice Financial Mastercard

PC Financial is known for being a no-fee bank offering no-annual-fee credit cards. The President\’s Choice Financial Mastercard is the entry-level card in the PC Financial suite of Mastercard credit cards. They also provide the PC World Credit card and PC World Elite Credit card. Both are no-annual-fee credit cards, but the minimum income requirement increases from card to card. The President\’s Choice Financial Mastercard has no minimum income requirement to open.

With the Presidents Choice Financial Mastercard, you can bid farewell to unnecessary costs and say hello to a world of financial convenience. This credit card is not just a means to make purchases but a powerful tool that can also help reduce your grocery bill!

But that\’s not all – with the Presidents Choice Financial Mastercard, you\’ll enjoy exclusive offers, personalized recommendations, and priority customer service. Say goodbye to financial stress and embrace the ease of managing your finances with this game-changing credit card.

Benefits of using the PC Financial Mastercard

First and foremost, the Presidents Choice Financial Mastercard allows you to earn PC Optimum points on your everyday spending. You will earn more points when you shop at Loblaw-affiliated stores, but every dollar you spend will earn you PC Optimum points. These points can then be redeemed towards purchases at participating stores, helping you save money on your everyday expenses.

In addition to earning points, the Presidents Choice Financial Mastercard provides access to bonus offers and personalized recommendations. As a cardholder, you\’ll receive special discounts and promotions tailored to your spending habits and preferences. The PC Optimum relationship enhances your shopping experience and saves you even more money in the long run.

If you live in a location with easy access to Loblaws-affiliated stores where you regularly shop, consider the PC Financial Mastercard. It may also be a great first credit card if you want a no-fee one.

Pros & Cons of the Presidents Choice Financial Mastercard

Pros

• Earn higher points at Loblaw branded and partner stores
• No annual fee credit card
• Lower credit score requirement for opening an account
• Four free additional cards on your account for family members
• No minimum income requirement

Cons

• PC Optimum points redemptions are not as flexible as other rewards programs, such as American Express Member Rewards.
• Cardholders require access to Loblaw network stores for maximum benefit
• Low Sign-up bonuses compared to other cards.
• Transactions and payments slow to show in your account on the app.

Understanding the PC Optimum Program

To truly unlock the full potential of the Presidents Choice Financial Mastercard, it\’s essential to understand the PC Optimum program. The PC Optimum program allows you to earn and redeem points at participating stores, maximizing your savings and rewards.

The PC Optimum program merges two popular loyalty programs – PC Plus and Shoppers Optimum. With the PC Financial Mastercard, you automatically become a member of the PC Optimum program, giving you access to an extensive network of retailers to earn and redeem points. If you already have a PC Optimum account, You must go through a one-time process of linking your existing PC Optimum points account with your President’s Choice Financial Mastercard.

Earning PC Optimum points is incredibly simple. You earn points every time you use your PC Financial Mastercard for eligible purchases. The number of points you earn per dollar does vary depending on the type of purchase. For example, you may earn 30 points for every dollar spent on groceries or 45 points for every purchase at Shoppers Drug Mart.

Once you have accumulated sufficient PC Optimum points, you can redeem them for purchases at participating stores. These include groceries, household items, beauty products at grocers, Clothes at Joe Fresh, and gas or car washes at Esso and Mobil stations. Using your points for a wide range of products and services ensures you can enjoy the rewards that matter most. There are 4500 Places you could earn and redeem across Canada. 

It\’s essential to stay updated on exclusive offers and promotions to make the most of the PC Optimum program. The PC Optimum app allows you to access personalized recommendations, view your points balance, and discover special deals tailored to your preferences. By leveraging these tools, you can maximize your rewards and savings, stack offers, and make every purchase count.

Some of the places you can earn and redeem PC Optimum points with your Presidents Choice Financial Mastercard:

PC Optimum Points: Earning & Redeeming

New cardmembers get a welcome bonus of 20,000 points ( equal to $20 redemption). 

Although you get 10 points per dollar on any purchases with your card, there are certain purchase categories and location which provide higher earnings. 

30 per $1 on every purchase you make at these Loblaw-affiliated groceries

45 pts per $1 at Shoppers Drug Mart® and Pharmaprix® store

30 pts per litre when you fuel up at Esso™ and Mobil™ stations in Canada

10 pts per $1 on all other purchases

My Feedback as a Presidents Choice Financial Cardholder

This article is based on research and my personal experience, and I am also a PC Mastercard Cardholder. The PC Mastercard is one of my longest-held cards because there is no fee! For a few years, I was frustrated with their online portal—every time I logged in, it required additional verification, and the computer was marked as safe, no matter how many times I did it. However, since introducing their app, it’s much easier, and I no longer experience the frustrations I used to regarding logging in.

One minor thing I don\’t love about this card is the delay in posting purchases and payments to the account. I pay my bill immediately, which sometimes trips me up, and if I don’t pay attention, I could overpay my card. Compared to my NEO credit card, which posts purchases instantly, PC Financial needs to improve in this area.

In conclusion, understanding the PC Optimum program is critical to unlocking the full potential of the PC Financial Mastercard. If you shop at Loblaws affiliate stores, you can make the most of this card. By earning and redeeming points at participating stores, you can enjoy significant savings and rewards while managing your finances more effectively.

If you are looking for a no-annual-fee card with no minimum income necessary and a fair credit score requirement, this card might be a good fit and can help you earn free groceries!

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About The Author

Jessica Morgan

Jessica Morgan is the founder and CEO of Canadianbudget.ca. She is passionate about personal finance and helping Canadians improve their financial literacy by providing more Canadian focused financial content. A millennial mom of one, she has a burning obsession with all things personal finance.
Jessica has a BA in East Asian Studies from York University and a Masters in Business Administration from Toronto Metropolitan University. She is a career public sector employee with a Hybrid Pension, and an advocate for Canadian women to improve their personal finance knowledge.

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