If you request a PC Financial® World Mastercard® within your online account, here's what you can expect:

  • When you click Request, the home screen banner will disappear.

  • If we approve your request, you'll receive your new card within 10 business days.

  • If your request was not approved then you'll receive a notice in your notification centre within your online account.

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You have been sent the notice below by mail, or by email if you have consented to receive legal notices electronically.

Following the notice below, we’ve outlined Frequently Asked Questions regarding the higher acceptance costs paid by merchants with a premium credit card.

To our valued customer,

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

In reviewing your account, we regret to inform you that you did not meet the new minimum annual1 spend requirement for a World Elite Mastercard®.

As a result, we will be issuing you a different no annual fee PC Financial Mastercard. To request2 a PC Financial World Mastercard® please follow the instructions below by March 31, 2021:

Request a PC Financial World Mastercard:

If you’re interested in the no annual fee PC Financial World Mastercard you can:

  • Log in to your online account at pcfinancial.ca and follow the prompts on the home screen banner to request a PC Financial World Mastercard
  • Call 1-877-777-9536 and follow the instructions to request a PC Financial World Mastercard.

Standard PC Financial Mastercard®

If you do not request and qualify for the PC Financial World Mastercard by March 31, 2021, you will automatically be issued the standard no annual fee PC Financial Mastercard starting April 1, 2021.

To understand the points earning rates of the cards, please see the chart below3.

A “thank-you” gesture

To thank you for your continued business, we’d like to award you with an additional 10 PC Optimum™ points per dollar spent in participating stores until May 31, 2021. These additional points will start from the date you request and qualify for the PC Financial World Mastercard, or the day we issue your standard PC Financial Mastercard. The additional 10 PC Optimum points per dollar spent in participating stores are in addition to the regular points earning rate on your new card and will appear on your account within 4-6 weeks of each qualifying purchase.

Here are some important details to note:

  • Your PC Financial World Elite Mastercard benefits, including Travel Emergency Medical Insurance, Car Rental Collision/Loss Damage Waiver Insurance, Identity Theft Assistant Service, and Concierge Service, will end on March 31, 2021 or the date you request and qualify for a new PC Financial World Mastercard4.
  • Your current card will remain active for purchases after March 31, 2021 for up to 60 days to ensure that you have time to activate your new card.
  • If you don’t request and qualify for the PC Financial World Mastercard, you will receive the standard no annual fee PC Financial Mastercard in April to replace your existing card. You will need to activate your new card. No PIN changes are required.
  • This change applies to any authorized users’ cards on your account.
  • Any balance on your account will be transferred to your new card.
  • Your new card will have a different card number, expiry date and security code. Make sure to change any pre-authorized payments once your new card is received.

FAQs regarding Acceptance Costs

What do you mean this will impose higher acceptance costs?

Higher acceptance costs are imposed on the merchant (store) where the card is used. This card does not have any additional cost to you/our cardholders.

What are “acceptance costs on merchants”?

Acceptance costs are the fees paid by merchants in order to accept certain forms of payment in their stores. Canada has a highly-developed payments system that has long offered a variety of different competitively priced payment products to suit different needs. Retailers can choose which payment methods they wish to accept and consumers can choose the form that best suits their needs.

Is that a cost I pay? Do they include it in the cost I pay to them?

Merchants pay the fee.

Will the merchant charge me to use my card?

No, there is no additional cost to the customer.