How does the PC Optimum program work?

Several rewards programs are well established in Canada, offering generous returns to consumers. While this wide variety may be beneficial at first glance, the customer may have a hard time making an informed choice because of the multitude of options available.

To this end, we offer a clear and concise analysis of the PC Optimum program to guide you in your choice of rewards program.

The PC Optimum program is sponsored by the Loblaws supermarket chain and offers points through the purchase of products under the “President’s Choice” banner.

PC Optimum points can be earned at the following locations in Quebec: Maxi, Provigo, Pharmaprix, Joe Fresh, Esso and Mobil.

PC Optimum has two separate sub-programs that offer you the opportunity to earn points – Optimum and Optimum Insiders. The following table compares the main components of these two programs.

Comparison of the two PC Optimum programs

There are three ways to earn PC points:

• through the PC Optimum loyalty card,
• President’s Choice Financial credit cards
• and the PC Money account.

Here is a brief analysis of these three financial products.

This is a basic program that offers some benefits with partner organizations. However, you should combine your membership with a subscription to one of the President’s Choice Financial credit cards. This will allow you to optimize your spending by earning twice as many points.

Here is a brief overview of the credit cards offered by President’s Choice Financial:

The President’s Choice Financial Mastercard is the entry-level card for President‘s Choice Financial. This card has no annual fee and no minimum income requirement.

PC points can be earned when you make purchases at grocery stores (10 points per $1), pharmacies (25 points per $1) and gas stations (30 points per litre) affiliated with the PC Optimum program. You can also earn 20 PC points for every dollar spent on travel expenses through the PC Travel platform.

Finally, you get purchase insurance, an extended warranty and a free additional card.

The President’s Choice Financial World Mastercard is the President’s Choice Financial mid-range card . This card has no annual fee, but requires a minimum income of $60,000 for an individual and $100,000 for a household.

PC points can be earned when you make purchases at grocery stores (20 points per $1), pharmacies (35 points per $1) and gas stations (30 points per litre) affiliated with the PC Optimum program. You can also earn 20 PC points for every dollar spent on travel expenses through the PC Travel platform.

Finally, you get purchase insurance, an extended warranty, a free additional card and 24-7 concierge service.

The President’s Choice Financial World Elite Mastercard is the premium President’s Choice Financial card. This card has no annual fee, but requires a minimum income of $80,000 for an individual and $150,000 for a household.

PC points can be earned when you make purchases at grocery stores (30 points per $1), pharmacies (45 points per $1) and gas stations (30 points per litre) affiliated with the PC Optimum program. You can also earn 20 PC points for every dollar spent on travel expenses through the PC Travel platform.

Good insurance is also available, including purchase insurance, extended warranty, car rental insurance and emergency medical travel insurance.

Finally, you have quick support in case of identity theft through a hotline and a 24-7 concierge service.

It is effectively a free checking account that allows Canadian consumers who do not wish to apply for one of the President’s Choice Financial credit cards to earn PC Points.

The earning rate, while attractive, is not comparable to that offered by President’s Choice Financial credit cards. For every dollar spent at Shoppers Drug Mart, you can earn 25 points, and for every dollar spent at other locations, you can earn 10 points.

This account also has a great welcome offer for new users by offering 50,000 PC points. This bonus is applicable if the following conditions are met:

• 20,000 PC points after first purchase of $50 or more
• 25,000 PC points after setting up 3 direct deposits with President’s Choice Financial
• 5,000 PC points when you make five transactions over $50 per month at a PC Optimum partner

Finally, several other benefits are readily available to users of this account such as free Interac transfers, access to unlimited current transactions and Canada Deposit Insurance Corporation (CDIC) protection.

PC points can be used for a cashrebate at many of the program’s partner organizations such as Maxi, Provigo, Pharmaprix and Esso.

You can also use these points at PC Express and PC Travel. However, it is not possible to redeem your points in organizations that do not have a partnership with PC Optimum. It is also important to remember that points can only be redeemed in increments of 10,000 PC points.

Secondly, it is highly recommended that you redeem your PC points during a promotional period when the redemption rates are attractive. This will allow you to have a higher cash return for the same number of points.

With this in mind, we recommend that you apply for all categories of financial products offered by PC Optimum to get the best possible return on your spending.

So when you apply for the PC Optimum loyalty card, a President’s Choice Financial credit card and the PC Money account, you’ll get an optimal return of PC points on your everyday spending.

In light of the observations in this article, we note that PC Optimum offers a very interesting loyalty program with a great offer of financial products, a simple and generous earning rate, and regular and attractive promotional offers.

President’s Choice Financial credit cards are attractive to Canadian consumers because there is no annual fee, it’s an attractive rewards accrual rate and it offers insurance. The PC Money account also has several benefits such as no management fees and a welcome offer of 50,000 PC points.

However, while there are many benefits to this program, a few things need to be addressed. First of all, we think that PC Optimum’s credit cards are excellent. The same cannot be said for the loyalty card and the Money account, which are not very distinctive, and offer no real advantages. We understand the utility of these two products is maximized when combined with the President’s Choice Financial credit cards, but a fact remains: a higher earning rate would be much more interesting.

All in all, we find the PC Optimum Points program to be an excellent avenue for Canadian consumers who make frequent purchases at Maxi, Provigo, Joe Fresh, Shoppers Drug Mart and Esso.

Membership in the three financial products offered by this loyalty program will allow you to quickly earn rewards that can then be redeemed for attractive cash rebates. If you are only a casual shopper at one of these establishments, it may not be beneficial for you to apply for for this points program, as your cash returns will be only modest.