The PC World Elite Mastercard is the top-tier card in the PC financial credit cards. It has the highest earn rates among the three cards offered by President’s choice bank. Although it has the highest income requirement, it also comes with the best perks and comprehensive travel insurance.
The good thing about the card is that it has no annual fee. So you can carry this card without paying a dime.
Keep reading for a complete review of the PC® World Elite Mastercard®.
PC World Elite Mastercard Key Features
- No annual fee
- 22.97% cash advance interest rate
- 20.97% purchase interest rate
- $80,000 minimum personal income requirement
- $120,000 minimum personal income requirement
- Purchase assurance
- Extended warranty
- 24/7 Concierge service
- 2.5% foreign transaction fee
PC World Elite Mastercard Benefits
So, what are the benefits of PC® World Elite Mastercard®?
1. Travel Insurance
Even though the PC World Elite Mastercard has no annual fee, it still offers travel insurance benefits often associated with premium cards. The following are some of the travel insurance coverages included:
- Travel Emergency Medical Insurance
- Car Rental Collision/Loss Damage Waiver Insurance
- Identity Theft Assistance
You also have access to a concierge service that is available 24 hours a day, seven days a week for event registration, medical help, and emergency support.
2. Purchase protection and extended warranty
When you pay in full using your card, you get purchase protection for three months against theft, loss, or damage. On the other hand, the extended warranty extends the ordinary manufacturer’s warranty by up to one year.
3. Cashback Bonuses
The card offers some of the finest earn rates for a no-fee rewards card. Here’s how the card’s reward system works:
- Earn 30 points for every $1 spent at participating grocery stores in the PC Optimum program and up to 45 points at Shoppers Drug Mart.
- You will also 30 points per litre At EssoTM and MobilTM stations.
- And 30 points for every dollar spent on PC travel services.
How to redeem your PC World Elite Mastercard Optimum points
President’s choice credits cards have one of the most flexible point redemptions in Canada. You can redeem the optimum points in increments of 10,000 PC points ($10). However, the minimum points you can redeem is 20,000. In general, you can redeem 20,000 points for $20 at participating President’s choice retail locations across Canada.
PC World Elite Mastercard Downsides
The income requirement on the PC Financial World Elite Mastercard is quite high. To qualify for this credit card, you will need to earn a personal income of at least $80,000 or a $120,000 household income. So many Canadians may not have the opportunity to get this card. Some no annual fee cards like Amex Simplycash have lower minimum income requirements. You can check it out if you are not qualified for this card due to its high income requirement.
Is the PC World Elite Mastercard Worth it?
The PC® World Elite Mastercard® is one of the best no annual fee reward cards in Canada. Compared to other cashback cards like Scotia Momentum No-Fee card, the earn rates for certain purchases are pretty competitive. If you shop at a PC retail store, you will gain more value from this card than any other card with no annual charge. For example, you will earn 45 points for every $1 spent at Shoppers Drug Mart. That’s 4.5% savings anytime you shop at this location. However, you need to keep in mind that if you don’t shop at PC accredited locations, your earning rates will be 1%.
In Conclusion
The PC® World Elite Mastercard® is an excellent credit card for people who want to maximize their spending at Loblaw partner stores.
However, if you are looking for a no annual fee card with no restriction on points redemption, you should consider the Tangerine World Mastercard.