PC Financial® World Elite Mastercard® Review
The PC Financial® World Elite Mastercard® is the richest no annual fee rewards card on the market if you shop at Loblaw banners stores or Shoppers Drug Mart. But even if you don’t, the PC Financial® World Elite Mastercard® is worth getting just for the free 10 day travel medical insurance alone – with no fee, it’s completely free – and worth a ton!
PC Financial has done a great job making its rewards program transparent. Every 10,000 PC points is worth $10 in free groceries. You get 30 PC points per $1 spent in Loblaw stores, Shoppers Drug Mart, Pharmaprix, pctravel.ca and PC mobile, which provides you with the equivalent of a 3% cash rebate when redeeming against your groceries.
With so many cash back credit cards offering extra cash back on grocery purchases, we compared the PC Financial® World Elite Mastercard® rewards rate to every no-fee cash back credit card in Canada from RBC, BMO, CIBC, TD, Scotia, MBNA, and Tangerine. None (except for short promo periods) beat PC Financial’s 3% earn rate. The next best earn rate for a no fee cash back card for grocery purchases is 2%.
Why PC Financial World Elite MasterCard?
1. No Annual Fee: The PC Financial® World Elite Mastercard® comes with no annual fee. Not only are you getting an elite level rewards rate of 3% when redeeming for groceries, you’re also getting elite level benefits such as travel medical insurance with no annual fee.
2. Earning Rewards: The PC Financial® World Elite Mastercard® offers:
- 3% rewards rate at participating Loblaw banner stores and Shoppers Drug Mart (30 PC points per $1 spent)
- 3% rewards rate on PC mobile and PC travel purchases (30 PC points per $1 spent)
- 3 cents per litre in bonus PC points for premium fuel at Esso, 2 cents per litre for regular gas
- 1% rewards rate on all other purchases (10 PC points per $1 spent)
You can earn a 3% rewards rate at all participating Loblaw banner stores including Loblaw, Provigo, Real Canadian Superstore, Shoppers Drug Mart, Pharmaprix, Zehrs, Maxi & Cie, No Frills, Atlantic Superstore, Fortino’s, valu-mart and others.
3. Redeeming Rewards: One of the things we love about this card is how easy PC Financial makes it to redeem your rewards. Once you have a minimum of 20,000 PC points, simply present your card at the cash, and ask the cashier to redeem your points and deduct $20 from your grocery bill. Do it as often as you’d like.
4. Free Travel Medical Insurance: For no annual fee, the PC Financial® World Elite Mastercard® is a GREAT opportunity to get free travel medical insurance for you, your spouse and your dependents, if you travel a few times a year, or even shop over the border. It’s the only no-fee credit card we know of in Canada that offers travel medical insurance.
The travel medical insurance covers you and your family for up to $1,000,000 for 10 days (65 years and younger). That covers you whether you travel out of province by plane, train or automobile.
5. Premium Benefits: The card also comes with free car rental insurance, free purchase assurance in case of theft, loss or damage in the first 90 days after you buy an item with your card and free extended warranty that doubles the manufacturer’s regular warranty for up to an additional year on items purchased with your PC Financial® World Elite Mastercard®.
Although not officially a cash back credit card, because PC Financial allows you to redeem your rewards for a cash rebate on your groceries, we consider it a “cash equivalent” rewards card and better than the best cash back carsd in Canada with no annual fee if you shop at any Loblaw banner store or Shoppers Drug Mart.
But even if you’re not currently a heavy Loblaw or Shoppers Drug Mart shopper, the PC Financial World Elite Mastercard is worth getting just for the free 10 day out of country travel medical insurance alone.
With no annual fee, this card is ideal for those looking to pair it with other rewards credit cards to maximize their cash rebates. Use the PC Financial® World Elite Mastercard® for all your grocery and pharmacy shopping at Loblaw stores to earn your 3% cash rebate, and pair it with another no-fee cash back card that gives you 2% in other categories like restaurants, recurring spend & travel.
With no annual fee, there’s no cost to playing the rewards game, and earning elite level rewards across most of your credit card spend.
Recommended Read: How to Maximize Your PC Optimum™ Points.