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New PC Financial® World Elite Mastercard® eligibility requirements.

As a PC Financial® World Elite Mastercard® holder, we wanted to inform you that Mastercard has added a new annual minimum spending requirement of $15,000 for World Elite credit cards which we have applied to your account.

The amount you spend on your card will be evaluated annually, with the current review period beginning on August 1, 2021 and ending on July 31, 2022. Accounts that do not meet the spending requirement will be reviewed and may be issued the standard no annual fee PC Financial® Mastercard®, which has different benefits, starting in February 2023.

FAQs

Why are you changing my PC Financial® World Elite Mastercard® credit card?

Mastercard has added a new annual minimum spending requirement of $15,000 for World Elite credit cards that we have applied to your account.

Your credit card will only change if you do not meet the new minimum spending requirement. This change will occur in February 2023 based on a spending qualification period between August 1, 2021 and July 31, 2022.

What happens if I don't meet the minimum spending requirement on my card?

Accounts that do not meet the spend requirement will be reviewed and may be issued the standard no annual fee PC Financial Mastercard®, which has different benefits, starting in February 2023. But don't worry, if we do issue you a new card, we'll send an additional notification ahead of time to let you know.

It is a pandemic. I have had to reduce my spend due to circumstances that were beyond my control (i.e. job loss, reduction in wages). Why are you doing this now?

We recognize this is still a difficult time and do understand the challenge.

Unfortunately, this policy is a result of new criteria set out by the Mastercard network in 2020.

We know our PC Financial® World Elite Mastercard® credit cards are valued by our customers which is why we held off on the implementation of the new criteria for most accounts until now. We are communicating this change so cardholders are aware of the new spending requirement and review period timeline.

When does the new qualification review period start?

The new qualification review period is August 1, 2021 to July 31, 2022.

Can you make an exception to keep my PC Financial® World Elite Mastercard®?

Unfortunately, we are not able to make exceptions at this time. In order to maintain your PC Financial® World Elite Mastercard®, you'll need to spend a minimum of $15,000 on your card between August 1, 2021 and July 31, 2022.

What happens to the additional authorized users on the account?

Any change to the card type will affect all cards on the account including authorized users cards.