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President's Choice Financial Mastercard®
Credit cards

President's Choice Financial Mastercard®

Updated 01.12.2022

About PC Mastercard

President’s Choice Financial offers three types of credit cards that let customers earn rewards for purchases. All credit cards provided by President's Choice Bank participate in the PC Optimum program, allowing customers to earn special bonuses for purchasing in partner stores. President's Choice Financial Mastercard is the most available PC Financial credit card. Customers will have a $0 annual fee and earn PC Optimum points for every dollar they spend on their PC Financial. Also, cardholders may enjoy some President's Choice services such as fraud monitoring, free extended warranty, and many others.

PC Mastercard features

One of the most significant features of the credit card provided by President's Choice Bank is that customers can earn bonuses for making purchases. As the company partners with many networks and stores, customers may receive increased rewards for purchasing in those spots. For example, customers will receive 10 points for each dollar they spend in grocery stores Loblaws, No Frills, Fortinos, Valu-mart, Provigo, Dominion, Joe Fresh, Real Canadian Superstore, Maxi, etc. In addition, the PC Mastercard cardholders are entitled to 30 points per liter of fuel at Esso or Mobil stations, 25 points per dollar at Shoppers Drug Mart, and 20 points per dollar spent at PC Travel. PC Optimum program is completely provided by President's Choice Services Inc. According to it, customers are rewarded for paying by PC Mastercard, but their receive points not for items purchased, but for each dollar spent. Customers can view full details of this program on the company's site.

The PC Mastercard credit card is free but lets customers earn enough bonuses. However, this PC Financial Mastercard has pretty high rates. 20.97% on each purchase and 22,97% on cash advance and balance transactions.

Also, according to the available data, customers need to note that their real purchase rewards may be lower than the advertised ones. This is because PC Financial includes that customers earn just for being PC Optimum members, which affects Esso and Shoppers rates. So, for example, for Shoppers Drug Mart, the real earn rate might be 15 points less, as that’s what any member earns. While for Esso and Mobil stations, customers have to deduct 10 points per liter purchased.

Furthermore, the company offers optional products like insurance coverage. PC Mastercard cardholders will be able to set up several President's Choice Services called Account Balance Protection (Spousal or Standard). Also, clients will have a Credit Alert Plus package that includes useful tools such as credit reporting, free purchase assurance, daily monitoring and surveillance, quarterly credit report, security software, 24/7 assistance ready to give customers a personalized experience, a dedicated team of fraud specialists that provide fraud monitoring and many others. What's more, customers will have the full package of Mastercard services such as a free extended warranty that extends the manufacturer's regular warranty for an additional year, and products that proactively monitor, manage and protect customers' valuable credit and personal information.

As soon as customers have 10,000 points, they can redeem for up to $10 worth of free products and groceries at participating stores or online. However, customers should note that redeemed dollars can be spent only in partner stores participating in the PC Optimum program, so they can't pay by it in other places. More details about places where customers can spend their points, are available on the President's Choice Services Inc site.

Pros and cons

Here are the strong sides of The President’s Choice Financial Mastercard:

  • Simple eligibility requirements;

  • The annual fee is $0;

  • Customers receive bonuses for making purchases;

  • Rewards can be redeemed for real money and spent in stores;

  • A well-designed mobile app that lets customers manage their spending online;

  • Responsible payments lead to a credit increase.

However, credit cards provided by President's Choice Bank has some drawbacks:

  • PC Optimum rewards can only be redeemed at participating stores;

  • Interest rates are relatively high;

  • A few unique perks;

  • Minimal insurance coverage;

  • Real rates of bonuses may be lower;

  • Many fees can be charged.

How to apply for a PC Financial Mastercard 

Customers need to visit the company’s site to apply for this credit card. First, they must choose the PC Mastercard directory and visit its page. Afterward, they need to click the “Apply Now” button and choose whether they are clients of PC financial or not. On the next page, they need to check the eligibility rules and click on the “Get Started” button. Firstly, they need to read the disclosures and start their application. On the application page customers need to enter:

  • Personal Information: full name, date of birth, SIN, etc.;

  • Contact Information: email address, phone number, and preferred language;

  • Address: find their address, choose the housing type and monthly rent;

  • Employment: choose the relevant employment status and fill out the required information, occupation, and income. 

Also, customers need to enter the additional information about the authorized user and account options and review their applications. 

Finally, customers will have their applications done and wait for the company's response. 

Am I eligible for a PC Mastercard?

This credit card has slight requirements and eligibility rules mostly based on credit approval. However, to be approved for this credit card, customers must be residents of Canada, over the majority, have a good credit score (660+), and complete the online application. However, for PC Mastercard, customers are not required to have a household income.

How can I redeem my PC Optimum rewards?

Customers can redeem their PC Optimum rewards at stores participating in the program or online. Also, they can do that at Esso or Mobil stations in Canada.

How many PC Optimum points can I earn in a month?

If your average monthly spending equals $2,100, that would be worth up to $371 in PC Optimum points, depending on the card you are approved for.


Effective interest rate on the product

20.97% - 22,97%

Top offers of the February 2023

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