PC Optimum Credit Card: PC Insiders^™ World Elite Mastercard^®

Features of the PC Insiders^™ World Elite Mastercard^®

A few more points

PC Financial has launched its first credit card with an annual fee. This PC Insiders^™ World Elite Mastercard^® costs $120 per year and, in return, earns more points than other PC Financial cards.

It looks just like the PC Financial World Elite Mastercard. Predictably, there may be some confusion between the two. So, here are the characteristics of each to differentiate them:

at Wholesale Club, Maxi and Provigo only

Note that the Optimum points earned above already include the base points earned at Shoppers Drug Mart (15 points / $1 spent) and at Esso and Mobil (10 points / $1 spent).

Free subscription to the PC Express Pass

The best benefit of the PC Insiders^™ World Elite Mastercard^® is getting the PC Express Pass for free.

This pass costs $99.99 plus taxes (or $114.96 including taxes in Quebec, for example). This is almost equivalent to the $120 annual fee of the PC Insiders^™ World Elite Mastercard^®.

People using this benefit get free pickup and delivery on orders of $35 or more. This can be advantageous for people who already use this pass.

If you already have a PC Express Pass and you get this new card, you will receive a prorated refund of your PC Express Pass subscription fees on the credit card after a few business days.

However, your subscription to the PC Optimum Insiders program will be cancelled if you get this card and you will no longer be able to re-enroll (as this subscription has been unavailable since September 2022). You will then receive a prorated refund. This is something to think about carefully.

Other features of the new PC Insiders^™ World Elite Mastercard^®

In addition to all this, it offers among other things:

• Up to 4 additional cardholders free of charge ;
• Emergency medical insurance for trips of 10 days or less;
• Identity theft assistance.

PC Mastercard cardholders automatically approved

Certain existing eligible PC Mastercard cardholders are automatically approved for this PC Insiders^™ World Elite Mastercard^®.

They can check their eligibility and then upgrade directly in their PC Financial online account. Here’s how:

• Log in to the PC Financial page to access your profile or open your mobile app;
• If you are eligible, a PC Insiders^™ World Elite Mastercard^® tile will appear on the home screen;
• Click on this thumbnail and follow the instructions to change your card.

Conclusion

If you don’t intend to use the PC Express Pass, this card won’t earn you as much as the President’s Choice Financial^® World Elite Mastercard^®.

Yes, you will earn more points with the PC Insiders^™ World Elite Mastercard^®. However, you’ll need to calculate whether the extra 5 points at Shoppers Drug Mart (value of 0.5 cents), the 10 points at Loblaws grocery stores (value of 1 cent) or the extra 40 points at Esso and Mobil (value of 4 cents) is worth $120 annually.

You would then need to spend at minimum to justify this cost and for it to start being profitable after:

• $ 3,000 worth of gas at Esso or Mobil
• or $12,000 at Loblaws group grocery stores
• or $24,000 in purchases at Shoppers Drug Mart

If you go to different grocery stores, we recommend that you opt for a “general-purpose” credit card with a “Grocery” purchase category:

• Up to 5 points per dollar at all grocery stores with the National Bank World Elite Mastercard^®
• 4% cash back at all grocery stores with the CIBC Dividend^® Visa* Card Infinite*