President’s Choice Financial Mastercard

No annual fee

PC Financial Mastercard

The President’s Choice Financial® Mastercard® is your key to free. It’s easy, you’ll earn PC Optimum points for every dollar you spend on your PC Financial® Mastercard everywhere you shop. So the more you use the card the more points you’ll earn. All with no annual fee.


10 per $1 in our stores1


25
points2 per $1
3
Earn at least 3 cents per litre in PC Optimum points3
20
points4 per $1
10
points5 per $1

Requirements

Subject to credit approval


Interest Rates

19.97%

Purchases interest rate (standard)

22.97%

Cash advance interest rate (standard)

0.97%

Promotional balance transfers6 for 6 months

21 days

Interest-free grace period on new purchases

Additional Benefits

Mastercard Global Service™

Replaces your card or offers a cash advance in case of emergency.

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Free Purchase Assurance

In the event of theft, loss or damage in the first 90 days5 when you pay in full with your PC Financial Mastercard credit card.

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Free Extended Warranty

Doubles the manufacturer's regular warranty for up to an additional year5 on items purchased with your PC Financial Mastercard credit card.

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Authorized users

Add up to four free additional cards on your account for family members, so you can earn points even faster.

Learn more

PC Optimum rewards calculator7

My total monthly purchases:

That’s worth

in PC Optimum points annually

(100000 PC Points)

Redemption made easy

As soon as you 10,000 points you can redeem for up to $10 worth of free products and groceries at any participating stores or online at Beautyboutique.ca, JoeFresh.ca and PC Express websites.


 
 
,
 
 
 
 points $
 
 
Points do not expire!

Product details

Annual Interest Rates
  • Purchases rate in effect when your account is approved: 19.97%
  • Cash Advance rate in effect when your account is approved: 22.97%.
  • Promotional balance transfers: 0.97% for 6 months for balance transfers4 made within 90 days of account approval.
We may, with prior notice, increase your Purchases and Cash Advances rate to the Performance rate of 25.95% for Purchases and 27.95% for Cash Advances following a review of:
  • Your account use (including whether you exceeded your credit limit or had any dishonoured payment transactions), or
  • Your credit bureau reports and credit history.
Your interest rates will increase to the Default rate of 25.97% for Purchases and 27.97% for Cash Advances if you:
  • Do not make the minimum payment by the due date for two consecutive months, or
  • Are not in full compliance with the terms of your cardholder agreement.

Interest-Free Grace Period - 21 days
A minimum of 21 days for new Purchases (meaning purchases which have not appeared on any previous statement) if you pay your entire current statement balance in full by the applicable due date, otherwise interest is charged from the transaction date.
The interest-free grace period does not apply to Cash Advances (which include balance transfers and convenience cheques), and interest is charged from the transaction date.

Minimum Payment
Any past due amounts, plus: your statement balance if $10 or less, or the greater of
(a) $10
(b) 2.2% of your total statement balance, or
(c) The interest charges and fees billed on the current statement plus $1.

Foreign Currency Conversion - 2.5%
For foreign currency transactions, the foreign currency conversion markup percentage charged for purchases and cash advances and deducted from refunds and credits is 2.5% of the amount of the charge or credit transaction.

Annual Fee - None
Other Fees - To be charged on the day the transaction occurs:
  • Cash Advance at a bank machine or teller in Canada: $3.50
  • Cash advance outside Canada: $5
  • Overlimit charge if over the credit limit on statement date: $29
  • Cash equivalent transaction (such as for a wire transfer or money order): 1% (minimum $5, maximum $10)
  • Dishonoured payment or convenience cheque: $42
  • Copy of a sales draft or previous account statement: $10
  • Credit balance refund made by cheque: $20
  • Balance Transfer: 1% of the transferred amount will be charged for balance transfers requested 6 months or more after account approval.
  • Inactive account: if on your statement date there is a credit balance on your account and there has been no activity on your account (meaning no debits, credits, interest or fees) for the preceding 12 consecutive months, your account is subject to a fee equal to the lesser of $10 or the credit balance amount.
Account Balance Protection - Spousal
If you enroll in the optional Account Balance Protection Spousal insurance program ("ABPS") and pay the required premiums, ABPS will make: a monthly payment corresponding to 5% of the balance on your President's Choice Financial Mastercard account ("Account") as at the date of your or your spouse’s disability or job loss for up to 20 consecutive months in the case of disability, up to age 65 (the person must be disabled from performing any work for which they are qualified) or involuntary job loss, up to age 65 (the person must have worked at least 30 hours per week for at least 3 consecutive months with the same employer prior to their termination date); one monthly payment on the Account of 5% of your balance on the first day of hospitalization up to $500 in the event of your or your spouse’s hospitalization for more than 2 consecutive days, up to age 75; and the outstanding balance on your Account (one payment up to $15,000 maximum) upon your or your spouse’s death, accidental dismemberment or first diagnosis of a critical illness (cancer, heart attack, or stroke), up to age 75. Benefits will be paid for either the primary cardholder or the spouse, not both. In this coverage, “spouse” means the person who is legally married to the primary cardholder of the Account or, otherwise, the person who has been living in a conjugal relationship with the primary cardholder for a continuous period of at least one (1) year and who resides in the same household as the primary cardholder. A primary cardholder may only have one spouse at a time.

The cost for ABPS is $1.19 per $100 of the current month's statement balance, plus applicable taxes. For example, if the balance on your monthly statement was $300, the cost would be $3.57 plus applicable tax. You or your spouse must be gainfully employed and not self-employed to be eligible for the involuntary unemployment benefit and disability benefit; ABPS will pay benefits on an eligible claim starting on the 31st day of your or your spouse’s disability or involuntary loss of employment. Some conditions and restrictions apply. Full details of your coverage will be mailed to you in a Certificate of Insurance and an enrolment letter, which will also advise you of the effective date of insurance. Exclusions, which vary by coverage, include pregnancy, voluntary or mandatory retirement, pre-existing conditions, unemployment anticipated at the time of application or due to seasonal work, self-employment, contract work, strike or lock-out, any occurrence within 90 days of the effective date for cancer and 30 days for heart attack and stroke. All exclusions and limitations are contained in the Certificate of Insurance, which you should read carefully and keep for your own records. This insurance can be cancelled at any time.

Try it risk-free: should you choose to cancel this coverage within the first 30 days of your coverage becoming effective, President's Choice Bank will refund any premiums collected and coverage will be deemed never to have been in force. Additional Account Balance Protection Insurance plan options may be available. For complete information regarding Account Balance Protection options or to cancel this insurance at any time, please call 1-866-246-7262 to speak with a representative. ABPS is underwritten by The Canada Life Assurance Company (Canada Life) who can be reached at 1-877-789-4182. President's Choice Bank receives an administration fee from Canada Life to distribute ABPS.

Account Balance Protection - Standard
This optional insurance plan covers you in three different ways:
  1. If you were to become disabled or lose your job involuntarily before age 65 while enrolled in the plan, it pays 3% of your President’s Choice Financial Mastercard balance at the date of disability or job loss each month for up to 2 years starting after 30 days of disability or unemployment.
  2. If you were to be hospitalized for more than 7 consecutive days before age 70 while enrolled, it would make a one-time payment of 3% of the outstanding balance of your President’s Choice Financial Mastercard as of the date of hospitalization, up to $500.
  3. It would pay up to $15,000 to cover the outstanding balance on your President’s Choice Financial Mastercard as of the date of death or injury in the event of your loss of life or accidental dismemberment. This death and dismemberment benefit covers you and any authorized user who is your spouse.
  • Try it risk free for 30 days - you can cancel anytime, and if you cancel within the first 30 days of your coverage becoming effective we'll refund any premiums charged
  • Only 99¢ (plus applicable taxes) per $100 of your current month's statement ending balance

Important information about Account Balance Protection - Standard, including limitations and exclusions
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Account Balance Protection - Involuntary Job Loss only
This insurance can cover your minimum payments on your President's Choice Financial Mastercard account and help protect your credit rating in case of involuntary job loss.

  • Covers your minimum monthly payments for up to 20 consecutive months in case of involuntary unemployment
  • If your current month's statement balance is zero, so is your premium
  • Your premium appears on your statement
  • Try it risk free for 30 days - you can cancel anytime, and if you cancel within the first 30 days of your coverage becoming effective we'll refund any premiums charged
  • Only 79¢ (plus applicable taxes) per $100 of your current month's statement ending balance

Important information about Account Balance Protection - Involuntary Job Loss, including limitations and exclusions
Additional Account Balance Protection Insurance plan options may be available. For complete information regarding Account Balance Protection options please call 1 866 246 7262 to speak with a representative.

Credit Alert® Plus
Credit Alert Plus is a comprehensive suite of tools that helps you proactively monitor, manage and protect your valuable credit and identity information.
  • Credit Report: You will receive an easy-to-read copy of your credit report and score (based on information from Equifax®), so you can make sure that your information is accurate with no unexpected activity
  • Daily Monitoring and Surveillance: You will be sent an alert within 24 hours when there are certain changes to your report. Credit report inquiries, address changes and new accounts opened, can be key indicators of identity fraud, and are monitored from both major Canadian credit reporting agencies - Equifax and TransUnion. Text or e-mail alerts allow you to respond quickly when identity fraud is suspected.
  • Quarterly credit report: Every 3 months you will receive a refreshed score, information on any new accounts opened, certain inquiries made, address changes and identification information changes
  • Credit education specialists: Specialists are available to help you understand your credit report, walk you through some of the more complex credit or fraud issues, and help you understand how information is obtained and retained by the credit reporting agencies
  • Victim Assistance and Restoration: Access to trained specialists at the service provider's Identity Theft Recovery Unit who will walk you through the steps of restoring your credit if you should become a victim of identity theft
  • Security software: Help protect your computer and internet identity from hackers thanks to anti-virus and anti-key logging software
  • 24/7 online access: Access your credit report and score 24/7 online or through a mobile app

Enroll today by calling 1 866 246 7262 or sign in to add it to your account
Get the first 30 days free, and pay only $19.99 per month thereafter (plus applicable taxes). To cancel at any time, simply call 1 866 246 7262. If you call within the first 30 days you will not be billed. Credit Alert® Plus is not an insurance product. Services are provided by AIMIA Proprietary Loyalty Canada Inc.(“AIMIA”) and Intersections Inc. President's Choice Bank and its related companies are not affiliated with AIMIA and Intersections Inc. and are not responsible for delivery of the services or liable in connection therewith and are also not liable for fraudulent use of your membership for this service.

Apply in minutes.

How do I upgrade to President's Choice Financial World or World Elite credit card?

If you currently have a PC Financial Mastercard and would like to see if you are eligible for an upgrade please call 1 844 307 5530.

View all fees and charges for this card
Review the complete cardholder agreement

1Our stores means affiliated Loblaw banner grocery stores and Shoppers Drug Mart / Pharmaprix. Visit pcoptimum.ca for details on participating stores where the PC Optimum program is offered.

2All PC Optimum members earn 15 points per dollar at Shoppers Drug Mart and Pharmaprix. When you use your President’s Choice Financial Mastercard® you will earn additional points per dollar: 10 points per dollar for President’s Choice Financial Mastercard® cardholders; 20 points per dollar for President’s Choice Financial World Mastercard® cardholders; and 30 points per dollar for President’s Choice Financial World Elite Mastercard® cardholders.

3Amount shown includes the points per litre available to all PC Optimum members, which may vary by province and location. Earn a total of at least 3 cents per purchased litre of gasoline or diesel fuel when you use your President’s Choice Financial Mastercard® at EssoTM and MobilTM stations in Canada. Cents per litre is payable in PC Optimum points. 3 cents per litre amounts to 30 PC Optimum points.

4Get a bonus 10 PC Optimum points per dollar of your PC® travel services purchase (taxes included) charged to your President's Choice Financial Mastercard or President's Choice Financial World Mastercard and 20 bonus PC Optimum points per dollar charged to your President's Choice Financial World Elite Mastercard, in addition to the regular 10 points per dollar earned for all purchases on these card. Bonus points will be shown as “PC® Travel Bonus Rewards” on your PC Optimum points statements. Account must be in good standing. Offer subject to change. PC® travel services are provided by 8742995 Canada Inc. doing business as Travel Nation Canada. President's Choice Bank and its related companies are not affiliated with Travel Nation Canada and are not responsible for delivery of the services or liable in connection therewith.

5Earn a minimum of 10 PC Optimum points per dollar on all of your purchases charged to the credit card. Any bonus PC Optimum points offers available to all President's Choice Financial World Mastercard customers are calculated based on the regular earnings rate of 10 PC Optimum points per dollar spent. This offer may be terminated or changed at any time.

6Balance Transfers for new accounts: You must apply by December 31, 2019 in order to be eligible for the current promotional balance transfer offer of a 0.97% interest rate for 6 months. Offer is available to eligible new customers only, within 90 days of your President's Choice Financial Mastercard account ("Account") approval. This offer may be changed, extended or cancelled without notice. Promotional interest rate is annual and applies, unless your Account is in default, only to the transferred amount for 6 months after the transaction date, after which the cash advance interest rate applicable to your Account applies to any remaining balance until the balance is paid in full, unless your Account is in default. Balance transfers are treated like cash advances and interest is charged from the date the transfer occurs, which may be up to 30 business days from your activation of the Account. Continue making your minimum payments on accounts from which you are transferring until the balance transfer amounts are credited to those accounts in order to avoid late charges and penalties. If the total amount to be transferred is more than your available credit limit, President's Choice Bank ("PC Bank") may send your creditors either full or partial payment up to the amount of your available credit limit. PC Bank reserves the right to limit the number and amount of balance transfers and to decline them for any reason. Balances from other President's Choice Financial accounts are not eligible to be transferred. Stop payments are not allowed. PC Optimum points are not earned on balance transfers unless otherwise specified. Please refer to your Cardholder Agreement and Card Carrier disclosures for further information.

7Calculation Assumptions for PC Financial Mastercard

  • Grocery and drug store category purchases are calculated at an earnings rate of 10 PC Optimum points per $1 spent.
  • Gas category purchases are calculated at a rate of 10 PC Optimum points per $1 spent. Bonus PC Optimum points per litre of gas are calculated at an earnings rate of 30 points per purchased litre of gasoline at EssoTM and MobilTM stations in Canada, which includes the points per litre available to all PC Optimum members, which may vary by province and location. You may be eligible to earn additional points depending on the card you hold, the location of the EssoTM and MobilTM stations in Canada, and the type of fuel you purchase.
  • Travel category purchases are all made with PCTM travel services at pctravel.ca at an earnings rate of 20 PC Optimum points per $1 spent.
  • All other purchases "All other purchases" are calculated at an earnings rate of 10 PC Optimum points per $1 spent.
  • 10,000 PC Optimum points = $10 in free rewards.

    Minimum redemption is 10,000 PC Optimum points (worth $10 in free rewards) and in increments of 10,000 PC Optimum points thereafter, at participating stores. Some redemption restrictions apply. Visit pcoptimum.ca for details and full store list. All results are shown for illustrative purposes only. Offer may be terminated or changed at any time. .

     

    8PC Optimum members earn 15 points per dollar at Shoppers Drug Mart and Pharmaprix. When you use your President’s Choice Financial Mastercard you will earn additional points per dollar: 10 points per dollar for President’s Choice Financial Mastercard cardholders; 20 points per dollar for President’s Choice Financial World Mastercard cardholders; and 30 points per dollar for President’s Choice Financial World Elite Mastercard cardholders.