While many Canadians might not put a lot of thought into their credit card choice, picking the best card to use for different purchase categories can go a long way in maximizing your miles and points or cash back earnings on all purchases.
One of the biggest monthly expenses for many households is groceries, and as a result, this presents a good opportunity to ensure you are getting something back for the hundreds of dollars being spent every month. If you find yourself buying groceries at stores under the Loblaws banner, there are several PC Financial credit cards that you could consider using, including the newly launched PC Insiders World Elite Mastercard.
Let’s take a look at the new PC Insiders World Elite Mastercard to see if this card is worth adding to your wallet.
Overview
Welcome Bonus
The PC Insiders World Elite Mastercard currently has a welcome bonus in which new cardholders can earn 150,000 PC Optimum points:
- Earn 150,000 PC Optimum points upon spending $3,000 in the first 4 months
The PC Insiders World Elite Mastercard earns 40 PC Optimum points per dollar spent at Loblaws grocery stores and offers cardholders a complimentary PC Express Pass for free grocery delivery and pickup.
Check out our PC Insiders World Elite Mastercard review for more details.
150,000 PC Optimum
$3,000
$30+
$120
Yes
–
1,000 PC Optimum points are worth $1 CAD, making this welcome offer of 150,000 PC Optimum points worth $150 when redeemed at participating stores in-person or online.
The card does have a minimum personal income requirement of $80,000 or a household income of $150,000.
Earning Rates
The PC Insiders World Elite Mastercard earns PC Optimum points for all purchases made on the card at the following rates:
- Earn 50 PC Optimum points per dollar spent at Shoppers Drug Mart® stores.
- Earn 40 PC Optimum points per dollar spent at Loblaw® banner grocery stores.
- Earn up to 7¢ / per litre in points at Esso™ and Mobil™ stations in Canada.
- Earn 10 PC Optimum points per dollar spent everywhere else.
This works out to a 5% return on spend at Shoppers Drug Mart stores, a 4% return on spend at Loblaw banner grocery stores, and a 1% return on spend on everyday purchases everywhere else. These are very good earning rates, allowing cardholders to earn even more points and more value within the PC Optimum program.
Annual Fee
The PC Insiders World Elite Mastercard has an annual fee of $120. This is comparable to other World Elite Mastercard products in Canada and is reasonable when considering the amount of rewards that can be earned with this card depending on your purchasing habits.
Benefits
The PC Insiders World Elite Mastercard comes with two main benefits: a complimentary PC Express Pass and a variety of insurance coverages.
Complimentary PC Express Pass
The PC Insiders World Elite Mastercard’s main benefit is that it comes with a complimentary membership to PC Express Pass which allows members to take advantage of $0 grocery delivery or pickup on same-day or future orders of $35 or more.
If subscribed outright, PC Express Pass usually costs $9.99 per month or $99.99 per year. If you were already using this service as a household, it makes complete sense to add this credit card to your wallet to roll the benefit into the cost of an annual fee instead of paying for it separately.
When considering total value, this benefit also lowers the effective annual fee to $20, which is stellar for a World Elite Mastercard.
Insurance Coverage
The PC Insiders World Elite Mastercard provides cardholders with the following types of insurance coverage:
- Travel Emergency Medical Insurance
- Purchase Assurance
- Extended Warranty
- Car Rental Collision/Loss Damage Waiver Insurance
Ensure you review the PC Insiders World Elite Mastercard insurance certificate for additional details, including terms and conditions for eligibility.
Redeeming PC Optimum Points
PC Optimum points redemptions start at 10,000 points for $10 towards your purchase and must be redeemed in increments of 10,000 points. Points can be redeemed at any retailer (in-person or online) that participates in the PC Optimum Rewards program. This means you can use your points to save on gas, groceries, and many other purchases.
If you are looking to get even more out of your points, the best value for your PC Optimum points can be extracted during various redemption events throughout the year. For example, on Black Friday there was a redemption promo that offered:
- Redeem 70,000 PC Optimum points for $100 off (extra $30 savings)
- Redeem 130,000 PC Optimum points for $200 off (extra $70 savings)
- Redeem 250,000 PC Optimum points for $400 off (extra $150 savings)
This is the best way to increase the value of your PC Optimum points past the standard redemption of 100 PC Optimum points per dollar. In our household, we have only ever redeemed points during these promotions for high-value electronics and have been able to extract excellent value.
Comparable Credit Cards
If you are looking for a Mastercard to use at Loblaws stores, there are a number of comparable credit cards that you should consider.
MBNA Rewards World Elite Mastercard
The MBNA Rewards World Elite Mastercard earns 5x MBNA Rewards points on all grocery, restaurant, digital media, memberships, and household utility purchases (up to $50,000 in purchases per category per calendar year).
The MBNA Rewards World Elite Mastercard earns MBNA Rewards points and gives cardholders the opportunity to earn 5x MBNA Rewards on restaurant, grocery, digital media purchases, and more.
Check out our MBNA Rewards World Elite Mastercard review for more details.
30,000 MBNA Rewards
$2,000
$180+
$120
Yes
–
MBNA Rewards points are worth 1 cent per point when redeemed towards travel, making this a 5% return on spend for all purchases in the above categories.
BMO CashBack World Elite Mastercard
The BMO CashBack World Elite Mastercard earns 5% cash back on all grocery purchases, up to $500 per statement period.
The BMO CashBack World Elite Mastercard earns cash back and offers cardholders the opportunity to earn up to 5% cash back on all grocery purchases. As a result, for 2024 we selected this card for the award for Best Cashback Credit Card for Grocery Purchases.
Check out our BMO Cashback World Elite Mastercard review for more details.
$250 cash back
$2,500
$250+
$120 (FYF)
Yes
May 31, 2024
Cash back earned on the BMO CashBack World Elite Mastercard can be redeemed once the minimum balance of $1 is reached and can be redeemed as a statement credit on your monthly bill, deposited into a BMO chequing or savings account, or deposited into your InvestorLine account.
Who is the PC Insiders World Elite Mastercard Best For?
The PC Insiders World Elite Mastercard is a great daily driver card for someone who isn’t looking to put a ton of thought into their credit card strategy, while still earning an elevated rate of return on one of the biggest monthly spending categories: groceries.
PC Optimum points are also easy to understand and redeem, even if they are only used to reduce monthly costs such as by redeeming them against grocery and gasoline purchases. After all, there is nothing better than using a loyalty program paired with a credit card to put more money back in your wallet.
If you already hold a different PC Financial Mastercard, such as the Presidents Choice Financial World Elite Mastercard, you can also upgrade to the PC Insiders World Elite Mastercard by logging into your account and seeing if the option to upgrade is available provided you meet the income requirements of the new card.
Conclusion
If you already make many purchases at Shoppers Drug Mart or any grocery stores under the Loblaws banner, you might find adding the PC Insiders World Elite Mastercard to your wallet provides additional value to your personal finance strategy. The annual fee is reasonable, the earning rates are strong, and the complimentary PC Express Pass is the cherry on top.
Josh Bandura
Latest posts by Josh Bandura (see all)
- Best Credit Cards with No Annual Fees in Canada - Apr 26, 2024
- The Complete Guide to World of Hyatt Globalist Status - Apr 19, 2024
- Definitive Guide: Booking Starlux Business Class on Points - Apr 12, 2024
- Definitive Guide: Combining Hotel Loyalty Program Points - Apr 8, 2024
- Best Credit Cards for Dining Out for Canadians - Apr 1, 2024