The PC World Elite is the card I'd point you to if most of your money already goes to Loblaws, No Frills, Shoppers Drug Mart and Esso. With no annual fee it earns 4.5% back in points at Shoppers, 3% at Loblaw grocery stores and Joe Fresh, and at least 3 cents a litre at Esso and Mobil, with no caps on any of it.
The catch is where the points go. They're worth $10 per 10,000 at Loblaw-family stores, and only $7 per 10,000 as a statement credit, so this is a card for people who will happily spend the points on groceries. Outside those stores it earns 1%, and the 2.5% foreign transaction fee makes it a poor choice for trips.
Welcome offer
New PC Financial Mastercard cardholders who apply by December 31, 2026 get 50,000 PC Optimum points after spending $100 in total within 60 days of approval. The spending has to happen at participating stores: Loblaw banner grocery stores, The Mobile Shop, Joe Fresh, Shoppers Drug Mart, Pharmaprix, Esso or Mobil. At 10,000 points = $10 in store rewards, the bonus is worth $50 in groceries or pharmacy items.
The offer is advertised for the no-fee PC Mastercard family, and PC Financial evaluates each application to decide which card to approve: the PC Mastercard, PC World Mastercard or PC World Elite Mastercard. You can't pick the World Elite directly, though meeting the $80,000 personal or $150,000 household income bar is what qualifies you for it. Points post 4 to 6 weeks after the qualifying purchases.
One normal grocery run or a Shoppers trip clears the $100 in the first week. Purchases at stores outside the Loblaw family, including Costco or a non-Esso gas station, don't count toward it.
Fees & eligibility
The card has no annual fee ($0), and additional cardholders are free as well; the benefits guide allows up to four. Foreign currency purchases carry a 2.5% conversion fee.
It requires a personal income of $80,000 or household income of $150,000. The standard rates are 21.99% on purchases and 22.97% on cash advances and balance transfers (21.97% in Quebec), and applicants approved at the Basic Rate pay 26.99% and 27.97% instead. New purchases get a 21-day grace period, so carrying a balance would wipe out the points quickly.
Earning rewards
Earning is built around the Loblaw family of stores. The card earns 45 PC Optimum points per $1 at Shoppers Drug Mart and Pharmaprix (the 15 points every PC Optimum member gets, plus 30 from the card), which PC Financial describes as 4.5% back in points. Participating Loblaw banner grocery stores and Joe Fresh earn 30 points per $1, or 3%.
At Esso and Mobil the rate is per litre rather than per dollar: at least 30 points per litre, or 3 cents a litre, counting the points every PC Optimum member earns there, with 10 more points per litre on premium fuel at Esso and select Mobil stations. Everything else, including dining and transit, earns 10 points per $1, or 1%. None of the rates is capped.
Redeeming rewards
PC Optimum points are worth the most in stores: 10,000 points = $10 in free rewards at more than 4,500 participating locations, which is 0.1 cent per point (cpp). You redeem in 10,000-point steps at the till by telling the cashier, at stores such as Loblaws, No Frills, Shoppers Drug Mart, Joe Fresh and Esso.
PC Financial now also lets you redeem points as a statement credit in your online account, but at a lower rate: the product page quotes 10,000 points for a $7 credit, or 0.07 cpp. A statement credit does not count as a payment, so the minimum payment is still due.
Perks & benefits
There is little beyond the points. The card includes a 24/7 concierge service, identity theft assistance and Mastercard Global Service for an emergency card replacement or cash advance.
There is no lounge access, no travel credit and no PC Express Pass; the free online grocery pickup and delivery subscription is a feature of the $120 PC Insiders World Elite Mastercard, not this card.
Insurance
The coverage is basic but useful for a no-fee card. Travel emergency medical pays up to $1,000,000 per insured person for the first 10 days of a trip, for the primary cardholder, spouse and dependent children travelling with them, but only for people under 65, and only the first 10 days of a longer trip are covered. The trip doesn't need to be charged to the card.
Rental car collision and loss damage covers rentals of up to 31 days on vehicles with an MSRP of up to $65,000 when you charge the full rental to the card and decline the agency's CDW. Purchase assurance covers new items for 90 days (up to $1,000 per incident), and extended warranty doubles the manufacturer's warranty by up to one year. There is no trip cancellation, flight delay or baggage coverage.
My take
I'd get this card if your grocery store is a Loblaw banner and your pharmacy is Shoppers; I'd skip it if you shop at Costco, Walmart or Sobeys, or want points you can spend anywhere.
For a household already collecting PC Optimum, the World Elite adds a steady layer on top: 3% back in points on groceries and 4.5% at Shoppers, with no fee and no caps. Those points come back as free groceries, which is about as close to cash as store points get for a family that shops there every week.
The limits are real, though. The 1% everywhere else is ordinary, the statement credit option pays 30% less than redeeming in store, and the 2.5% FX fee means it should stay home when you travel. I'd treat it as the grocery-and-pharmacy card in a wallet and use something else for travel and non-Loblaw spending.
The good
- No annual fee, with 4.5% back in points at Shoppers Drug Mart and 3% at Loblaw grocery stores
- No caps on any earn rate
- Easy 50,000-point welcome bonus for $100 of spending, if you apply by December 31, 2026
The catch
- Points are worth the most only at Loblaw-family stores; the statement credit pays $7 per 10,000
- 2.5% foreign transaction fee
- Travel medical stops at 10 days and excludes anyone 65 or older