Pros
- ✓Welcome Bonus: 20,000 points
- ✓Up to 30x on Gas
- ✓Purchase protection included
- ✓No annual fee
Cons
- ✗Foreign Transaction Fee (2.5%)
Our Review
The PC Mastercard offers a 20,000 PC Optimum™ welcome bonus after you spend $50 in the first two months, all with no annual fee. It’s an ideal entry-level card to start earning points within the Loblaw ecosystem.
- 1% back in points at Loblaw banner grocery stores, including LoblawsMD, No FrillsMD, Real Canadian SuperstoreMD, MaxiMD, and other locations3.
- At least 3¢ per litre back in points on fuel at Esso and Mobil stations
- 2.5% back in points at Shoppers Drug Mart and Pharmaprix
- 1% back in points at Joe Fresh
- 1% back in points everywhere else
This way, you earn between 1% and 3% back on your purchases at PC Optimum stores. Your points can then be redeemed for discounts at checkout or a $7 credit per 10,000 points applied directly to your card balance.
With its 90-day purchase assurance, extended warranty, and Mastercard Global Service, this card offers valuable protections for a no-annual-fee card.
Rewards
All Spending
10x
PC Optimum pts per dollar
Gas
30x
Pharmacy
25x
Credit Card Rewards Calculator
See how much you could earn with this card based on your spending.
Points Earned
340,200
PC Optimum/yr
Estimated Value
$340
After Fees
+$340
1st Year Value
$360
incl. welcome bonus
Annual rewards breakdown
Purchase Protection
Purchase Protection
Included
Extended Warranty
+1 year(s)
Interest Rates
- Purchase Rate21.99%
- Cash Advance22.97%
- Foreign Transaction Fee2.5%
Terms & Conditions
Card Features
SPECIAL OFFER: Earn 20,000 PC Optimum™ points when you apply for the no annual fee PC® Mastercard® and spend $50 or more at participating stores within 60 days of account approval.
See the terms and conditions** for more details.
Rewards to look forward to
- 1% back in points2 at our grocery stores3
- At least 3¢ per litre back in points at Esso™ and Mobil™4 stations
- 2.5% back in points at Shoppers Drug Mart® and Pharmaprix®5
- 1% back in points at Joe Fresh™2
- 1% back in points on dining, transit and everywhere else2
Even more benefits you’ll love
- Purchase Assurance: In the event of theft, loss or damage in the first 90 days when you pay in full with your PC® Mastercard®6.
- Extended Warranty: Doubles the manufacturer’s regular warranty for up to an additional year on eligible items purchased with your PC® Mastercard®6.
- Mastercard Global ServiceMC: Mastercard Global ServiceMC replaces your card or offers a cash advance in case of emergency7.
FAQ
What are the annual fees for the PC Mastercard?
The PC Mastercard has no annual fee, and additional cardholders are also free.
What rewards does the PC Mastercard offer at grocery stores?
Earn 1% back in PC Optimum™ points at grocery stores.
How much do you earn on gas with the PC Mastercard?
The PC Mastercard offers at least 3 cents per litre back in points at Esso and Mobil stations.
What rewards does the PC Mastercard offer at pharmacies?
The PC Mastercard offers 2.5% back in points at Pharmaprix and Shoppers Drug Mart pharmacies.
What earn rate does the PC Mastercard offer everywhere else?
The PC Mastercard offers 1% back in points at restaurants, on transportation, and everywhere else, including Joe Fresh stores.
What insurance coverage does the PC Mastercard offer?
The PC Mastercard includes purchase assurance (90 days) against theft, loss, and damage, plus an extended warranty that doubles the manufacturer’s warranty.
Does the PC Mastercard offer emergency services?
Yes, the PC Mastercard includes Mastercard Global Service, which replaces your card or provides a cash advance in an emergency.
Which stores participate in the PC Optimum program with the PC Mastercard?
The PC Mastercard works with Loblaws, No Frills, Shoppers Drug Mart, Pharmaprix, Real Canadian Superstore, Atlantic Superstore, Zehrs, Independent, Fortinos, and more.
Is there a welcome offer with the PC Mastercard?
Yes, the PC Mastercard offers 20,000 bonus PC Optimum points (a $20 value) as a special welcome offer.
Legal
All rates and fees for the PC® Mastercard®.
Offer valid for new President’s Choice Financial® Mastercard® cardholders who apply by December 31, 2026. Earn a one-time bonus of 20,000 PC Optimum™ points when you spend $50 CDN or more in total qualifying purchases at participating Loblaw banner grocery stores, The Mobile Shop™ stores, Joe Fresh® stores, Shoppers Drug Mart® stores, Pharmaprix® stores, Esso™ or Mobil™ stations in Canada within 60 days of account approval. Visit pcoptimum.ca for participating stores. Qualifying purchases must be made with your new PC Financial® Mastercard®. Date of account approval is the date of the PC Financial® email confirming that your PC Financial® Mastercard® is approved.
Qualifying purchases excludes refunds, cash advances, balance transfers, interest charges, fees, credit or debit adjustments. Any refunds or merchant credits received during the offer period will reduce your total purchase amount for the purposes of this offer. Cannot be used with any other promotions or offers. Offer has no cash value. Your President’s Choice Financial® Mastercard® account must be open and in good standing at the time points are awarded. Offer applies to new accounts only. This introductory offer is limited to one per new PC Financial® Mastercard® account and may be terminated or changed at any time without notice. Allow 4-6 weeks from qualifying purchase(s) for bonus PC Optimumᵀᴹ points to be awarded.
1 If you are approved for the Basic Rate PC Financial® Mastercard®, your rates will be as follows. Purchase interest rate: 26.99%, Cash Advance interest rate: 27.97%. The Basic Rate is not available in Quebec. For more information, please refer to the Application Disclosure Summary.
2 Earn a minimum of 10 PC OptimumTM points per dollar on all of your purchases charged to the credit card. Any bonus PC OptimumTM points offers available to all PC Financial® Mastercard® customers are calculated based on the regular earnings rate of 10 PC OptimumTM points per dollar spent. This offer may be terminated or changed at any time.
3 Our grocery stores means affiliated Loblaw banner grocery stores. Visit pcoptimum.ca for details on participating stores where the PC OptimumTM program is offered. Minimum redemption is 10,000 PC OptimumTM points (worth $10 in free rewards) and in increments of 10,000 PC OptimumTM points thereafter, at participating stores. You can redeem the PC OptimumTM points you earn for eligible purchases, or for any other purposes of which we may advise you from time to time. Some redemption restrictions apply. Visit pcoptimum.ca for details and full store list.
4 Points amount shown includes the 10 points per dollar for all purchases with the PC Financial® Mastercard®. In addition, earn at least 10 PC OptimumTM points per purchased litre of gasoline or diesel fuel at EssoTM and MobilTM stations in Canada when you pay with your PC Financial® Mastercard®. You will also earn at least 10 PC OptimumTM points per litre available to all PC OptimumTM loyalty members at EssoTM and MobilTM stations in Canada. Earn an additional 10 points per litre of premium gasoline (Octane 89, 91, 93) at EssoTM and select MobilTM Stations. You could earn even more points at Mobil™ stations located adjacent to a Loblaw banner grocery store. Exact earn rate is available at the station. Should fuel prices fall below $1/L, causing total points per litre awarded to fall below 30 points per litre, points will be topped up to ensure a minimum of 30 points per litre are awarded in all transactions paid with a PC Financial® Mastercard® at EssoTM and MobilTM locations. For full details including how points are awarded to your PC OptimumTM account and rounding rules, visit pcfinancial.ca/en/legal-stuff/pc-optimum-mastercard/.
5 All PC OptimumTM members earn 15 points per dollar on eligible purchases at Shoppers Drug Mart® and Pharmaprix® stores. When you use your PC Financial® Mastercard® you will earn additional points per dollar: 10 points per dollar for PC Financial® Mastercard® cardholders; 20 points per dollar for PC Financial® World Mastercard® cardholders; 30 points per dollar for PC Financial® World Elite® Mastercard® cardholders; and 35 points per dollar for PC InsidersTM World Elite® Mastercard® cardholders.
6 Purchase Assurance and Extended Warranty are underwritten by American Bankers Insurance Company of Florida. Details of coverage, including definitions, benefits, limitations, and exclusions, are outlined in the Certificate of Insurance delivered with your card or included with the Welcome Documents delivered to your online Notification Centre at pcfinancial.ca.
7 Cash advances are accessible only up to your available cash limit and your current cash advance interest rate applies from the date of the transaction.
8 Earn 40 PC OptimumTM points per dollar on qualifying purchases made with a PC InsidersTM World Elite® Mastercard® credit card at participating Loblaw banner stores. For these purchases you will earn the regular 10 PC OptimumTM points per dollar plus an extra 30 PC OptimumTM points per dollar charged on your card(s) for a total of 40 PC OptimumTM points per dollar. Any bonus PC OptimumTM points offers available to all PC Financial® Mastercard® customers are calculated based on the regular earnings rate of 10 PC OptimumTM points per dollar spent.
®/TM Trademarks of Loblaws Inc., used under license.
Mastercard® is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated. President’s Choice Bank is a licensee of the marks.
Shoppers Drug Mart®, Pharmaprix® and logos are trademarks of 911979 Alberta Ltd., used under license.
®/TM Esso is a trademark of Imperial Oil Limited. Imperial Oil, licensee. Mobil is a trademark of Exxon Mobil Corporation or one of its subsidiaries. Imperial Oil, licensee.
President’s Choice Financial® Mastercard® is provided by President’s Choice Bank.
The PC OptimumTM loyalty program is provided by President’s Choice Services Inc.
Related Cards
Conditions apply. All information is believed accurate but not guaranteed. Card details, rewards, and offers are subject to change at any time. Always verify the latest terms on the issuer’s website before applying. Ratesopedia may receive compensation through affiliate links. This does not affect our editorial choices or card rankings. © 2026 PC Finance. All trademarks are property of their respective owners.