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President’s Choice Financial® Mastercard® Disclosure Summary

Credit Limit:${CREDIT-LIMIT}
Annual Interest RatePurchase interest rate: 21.99%
Cash Advance interest rate: 22.97% (in Quebec, 21.97%)
Your Purchase and Cash Advance interest rates may change in accordance with the Cardholder Agreement. These annual interest rates may be increased in the following instances as indicated below, if your Annual Interest Rates are lower than the rates below at the time of the increase.
We may, with prior notice, increase your Purchase and Cash Advance rates to the Performance rate of 26.99% for Purchases and 27.95% for Cash Advances following a review of:
  • your Account use (including if you exceeded your credit limit or had any dishonoured payments), or
  • your credit bureau reports and credit history; and
Your interest rates will increase to the default rates of 26.99% 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 Period21 days
A minimum of 21 days for new Purchases (meaning purchases which have not appeared on any previous statement) if you pay your 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.
Determination of InterestIf interest is charged, it is calculated on your average daily balance and charged monthly to your Account on the last day of your billing cycle.
Minimum PaymentAny past due amounts, plus: your statement balance if $10 or less, or the greater of:
(a) $10,
(b) 2.2% of your statement balance (5% for new accounts issued to Quebec residents since August 1, 2019, and for all other accounts held by Quebec residents: 4% effective on August 1, 2023, 4.5% effective on August 1, 2024, and 5% effective on August 1, 2025); or
(c) the interest charges and fees billed on the current statement plus $1.
Foreign Currency Conversion2.5%
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 FeesPC Insiders™ World Elite Mastercard®: $120
All other PC Financial® Mastercard® credit cards: None
Where applicable, the annual fee is charged in the first statement period when your application or your account upgrade is approved (regardless of card activation). After that, it’s charged annually in the same statement period.
Other FeesTo be charged on the day the transaction occurs:
Cash Advance at a bank machine or teller in Canada: $5
Cash Advance outside Canada: $7.50
Overlimit charge if over the credit limit on statement date: $29 (for Quebec residents: $0)
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: $10 (for Quebec residents: $0)
Copy of a previous account statement: $10
Credit balance refund made by cheque: $20
Balance transfer: 5% of the transferred amount. The exact fee will be disclosed to you before the transfer is submitted and is charged when the transfer posts to your account.
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.

Determination of Interest: If interest is charged, it is calculated on your average daily balance and charged monthly to your Account on the last day of your billing cycle as follows: (a) for cash advances and purchases, from the date the transaction occurs until they are paid in full; (b) for previously billed interest on purchases, from the date the interest was posted to your Account. See your Cardholder Agreement for more information on how we calculate interest.

Default Charges: If you are in default, you must pay all legal costs that we incur to collect or attempt to collect the payment from you.

Statement Period: We will typically provide you with a statement on a monthly basis. Each statement will normally cover between 28 and 32 days depending on holidays, weekends, and the number of days in each month.

Limited Liability for Unauthorized Use: If an unauthorized transaction was made using a lost or stolen card, account information or PIN on your Account, the maximum amount you will be responsible for is the first $50 of transactions that occur before you notify us of the loss or theft. You will not be liable for any unauthorized transactions made on your Account after you have notified us that any Card, account information, or PIN has been lost or stolen, has otherwise been used in an unauthorized manner or is at risk of being used in an unauthorized manner.

Liability for Unauthorized Use: For any unauthorized transaction, if we determine that you have demonstrated gross negligence (or gross fault, if you are a resident of Quebec) in safeguarding your Card, account information or PIN, then you are liable for and must pay the full amount that was charged to your Account.

Optional Services: Information about any optional services that you accept in relation to your credit agreement will be provided to you separately before the service is provided.

Low Available Credit Alert: In the event the available credit on your account falls below $100, or another amount you may choose, we will send an alert to the email you've provided for your account notifying you of your current available credit and how to avoid any associated fees. You can modify the default amount of $100, or opt out of this alert in writing through your PC Financial® account.

Contact Information: To get information about your Account, speak to a resource person who is knowledgeable about the terms and conditions of this product, or to report a lost or stolen card, you may contact us 24/7, toll free at 1 866 246 7262 or collect at 647 426 1343.

®/™ 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.

President’s Choice Financial® Mastercard® is provided by President’s Choice Bank. The PC OptimumTM program is provided by President’s Choice Services Inc. Esso is a trademark of Imperial Oil Limited. Imperial Oil, licensee. Mobil and Speedpass+ are trademarks of Exxon Mobil Corporation or one of its subsidiaries. Imperial Oil, licensee.

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