PC Financial World Elite MasterCard Review

Annual Fee
$0
Purchase Interest Rate
19.97% - 10%
Min Personal Income Required
$80,000
Recommended Credit Score
740 850 670 739 580 669 0 579
Fair_Good
No Annual fee.
Up to 45 PC points per dollar spent in select stores

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%.

PC Financial World Elite MasterCard Review:

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.

Recommendation

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.

Article comments

107 comments
Floyd says:

I used this card all the time and would pay it off as quickly as possible to avoid interest and penalties.

In doing so I would use my card at mobile one stations to fill up with gas and then pay the card off as soon as I could. But because I payed off the card before they could charge me interest I stopped receiving points for gas. Any other $100+ purchase that was paid off fast I would not receive the points either.

On top of that I had to work out what was going on myself because customer service never did tell me what was going on, only that they were looking into it.

The card has sat in my desk since.

I would not recommend this Card or PC financial.

The GreedyRates Team says:

Hey Floyd!

Interesting comment. If you had been using the PC card and paying the entire bill before it came due, then perhaps this is the reason you hadn’t received points for relevant purchases. PC says that points arrive to your account as soon as a transaction is posted to your statement, but it’s possible that being “posted to your statement” is not something that occurs after the transaction but instead at the end of the month when the full list of transactions is tallied. If you paid them off before they could hit the statement, then PC hadn’t actually seen them and couldn’t reward the requisite amount of points. We’ll double check and confirm in this comment if we can.

It seems like other customers have reported similar issues, just with a quick search engine inquiry we found other cases of this happening. Ultimately, PC customer service and rewards infrastructure is quite robust, so we’re confident that these are fringe cases and not the norm. Regardless, if you’re done with the card, let us know what you’re looking for! We’d be happy to provide some recommendations.

GreedyRates

Theresa says:

We like our PC elite card and use it for everything but gas ( use Costco ). Our out of province insurance with my husband’s retirement pension plan has cut us off because he’s now 75. Is there credit card that would have a reasonable rate for us ? ( Ontario residents)

The GreedyRates Team says:

Hey Theresa,

Great question. We’re sorry to hear your emergency travel medical insurance has run out with your husband’s pension plan and will try to offer a couple suggestions. Unfortunately, few credit cards provide decent travel medical insurance for the 65 and older age group, and even the most impressive of the cards which do cover 65+ cardholders (like the Desjardins Odyssey World Elite card or the National Bank World Elite card) cut off coverage once the cardholder or the eligible party turns 75. For those between 65 and 74, both cards offer 15 days of travel medical coverage, and both direct cardholders over 75 to contact the bank for questions about extended coverage.

This would be your first avenue to explore. Call the bank, or even your own bank which is in charge of the credit cards you already have to explain your situation. Remember that it isn’t the bank which is administering insurance but its partner, and traditional insurance companies are exceedingly flexible. Another option is to get a la carte travel insurance from one of the many great companies online. First try calling Desjardins and National Bank to compare how much their coverage would cost, though, as these cards are far superior options than standalone insurance due to their other generous benefits. Best of luck!

GreedyRates

Pete says:

Waiting for my new World Elite MC in mail,,,,can I request a 2nd card for my spouse?

The GreedyRates Team says:

Hi Pete,

Appreciate the comment. Since you said that your new PC World Elite Mastercard is on its way in the mail (congratulations, by the way!) then you’ve already been approved and can therefore likely request a supplementary card for your spouse without issue. While we don’t expressly see that they offer a secondary or supplementary card, it’s improbable that they don’t. The only trouble you might run into is verifying that you’re a customer using the automated phone menu or online portal, since you don’t yet have the physical card. This is why you should just call a PC customer support representative and request the card through them. Just explain you’re a new cardholder and don’t want to wait for snail mail to arrive before getting your spouse a card. Best of luck!

GreedyRates

M,D. says:

I have had the PC financial World card for years, this is not the “Elite”..? I want to be able to use the travel insurance, as Scotiabank American Express, which we had, dropped their coverage from ten day to 3 days, useless…Does my card the non elite, have travel insurance?

The GreedyRates Team says:

Hey M.D.,

The article above is discussing the PC Financial World Elite card, which offers many of the same benefits as your PC Financial World card, but accelerated earnings and some additional perks. One of these perks is the inclusion of emergency medical traveller’s insurance—offering coverage for you and your family for up to $1,000,000 for 10 days if you’re under 65. Your PC Financial World card doesn’t offer any medical insurance, but you can call PC and ask for an upgrade very easily. If you’ve been a reliable customer for years, and they’re familiar with your other assets, you have a chance to make the switch without issue. Good luck.

GreedyRates

M_Toronto says:

I meet the income criteria but have only 6-7 months of Credit History in Canada (10 years in the US). Will I be eligible for this card? Dont want a hit on my credit if I will be declined.

The GreedyRates Team says:

Hey M_Toronto,

Interesting inquiry—we appreciate you bringing it to us. Essentially, it’s very important for you to have a good credit score if you’re applying for a World Elite card (since they’re upper-tier rewards cards) but there are more factors than just credit involved. For example, you said your income is high so that works in your favor. If you’re truly only in Canada for 6 or 7 months, then before applying we recommend that you do a credit report here so you can learn how Canadian financial institutions will treat you. TransUnion or Equifax should be able to tell you your score for free, but you’ll need to pay for a full report.

Even if your credit ends up being middle-ground, you can still overcome your newness to Canada by meeting with a PC Financial Bank representative in person, with all the pertinent details already printed out (bank statements elsewhere, assets, income, existing loans etc.). Usually face-to-face applicants are forgiven for their shortcoming because it’s not a machine reading their application. If you’re able to provide proof of your creditworthiness in the US, they will find a way to put a PC credit card in your hands.

After requesting your credit report you may figure out that your score is pretty healthy, as the total time you’ve spent as a resident doesn’t have as much bearing on your credit as you might think. It’s possible to build a good score quickly, in some circumstances. Finally, your last option would be something like the Home Trust Secured Visa. With it, you’ll be able to use your income to create a credit limit by depositing with Home Trust and build your score in the meantime. Best of luck!

GreedyRates

Snoopy says:

Thanks for this wonderful review! Do they cap earning power once you spent X dollars on groceries and your earn rate drop?

The GreedyRates Team says:

Hey Snoopy!

Great username and thanks for the appreciation. Regarding your question about the PC Financial World Elite Mastercard, one of its best features is the sheer amount of rewards you can earn by shopping at popular groceries and gas stations in Canada. Key to this earnings power is that there are no limits on the number of rewards you can earn at a certain rate—meaning no downgrades once you hit, for example, $25,000 in spending during the year. Thanks again and let us know always if you’ve got an urgent question!

GreedyRates

YADAV ADHIKARI says:

Was with pc for more than 5 years , had no missed payment and when I moved to new address, forgot to change the address with pc financial, and mistakenly missed 2 payments, pc financial sent the letter to credit bureau which racked by credit history. This is how you treat your loyal customer? Am I not eligible to receive any written mail before you inform to credit bureau? This is so disappointing, I paid all amount in no time and cancelled the card. I would never recommend pc financial to anyone.

The GreedyRates Team says:

Hi Yadav,

So sorry this happened to you! It’s understandable to be flustered and distracted when you’re moving apartments or homes, and if you’re used to paying bills only after receiving a paper mail (rather than e-statements) then we can see how you let it slip your mind. However, it is important for you to know that in the future, paying online is more convenient and will help you avoid this problem. Missing not only one, but two payments due to your move isn’t good!

However, you’re still able to redeem yourself a bit by paying the bill (nice job) and asking them to update the status of the payment on your credit report. Ensure that it’s labelled correctly (PAID) before trying to open up another card, and eventually it’ll fall off your report and stop affecting your credit. In fact, it’s probably smart of you to order a full credit report now, which we recommend people do every few years to make sure there isn’t anything unexpected that might be dragging down their score. Good luck.

GreedyRates

Scott says:

Been very happy with this card for many years now. However at our Superstore gas bar, they have held the cash back at 7 cents per litre which was great when gas was 1.20, but now it is 1.65 and that is less than 4% back now. Also they sold the gas bar to Mobil and the future of the WE MC discount is unknown. Still can’t beat this card for groceries given that Superstore already has the lowest prices by a wide margin around here (Victoria BC)

The GreedyRates Team says:

Hi Scott,

Nice shout-out! Much appreciated, and absolutely agreed upon from our end as well. The PC Mastercard is one of the best options for budget-conscious grocery shoppers in Canada, because it offers so many stacking benefits and savings features for these cardholders. PC Optimum points can be used right at the register to pay for groceries, and you’ll earn these points at a rapid rate of 30 points per $1 spent at Superstore (like you mentioned) but also Zehrs, Independent, Valu-Mart, No Frills, Loblaws, and more. Boost that to 45 points per $1 if you’re shopping at Shopper Drug Mart or filling up at Esso and Mobil stations across Canada. With these destinations already offering some of the best prices in Canada, as you know, there are few cards better for saving on everyday purchases. We’re glad you discovered the same!

GreedyRates

Stephane says:

I paid $8,000 towards my credit card. PC dropped my limit with the excuse that I bought a new vehicle, which affected my credit. They dropped my limit without telling me anything. I was out of town and was unable to pay for my hotel. I called Customer Service and nothing was done to help me. How can they just do this after being paid $8,000? If I were a threat, would I be paying $8,000?

The GreedyRates Team says:

Hi Stephane,

Sorry to hear that your limit was lowered and that it caused you to hit some potentially embarrassing financial obstacles. Though it might seem nonsensical, there generally is some rhyme and reason to how banks operate, and in this case you’re probably correct that the sudden limit drop was due to your new vehicle purchase. For a bank, the repayment of debt is nice but expected, so they won’t see this as a reason to keep your limit where it is or raise it further. Given this perspective, that $8,000 wasn’t “paid” to the bank more so than it was “repaid” from money already borrowed.

However, it doesn’t matter because your limit is already lower than you want it to be. Thankfully, if you aren’t happy with it then you can exercise your right as a consumer and take your business elsewhere. The first step would be to threaten to do so by calling customer service and telling them you’re unhappy with your limit and that if it can’t get raised, you’ll transfer your balance to MBNA or elsewhere. PC wants to keep you as a customer, and they won’t call your bluff. We’ve seen it work countless times.

If there’s something we’re missing, or if you’re unable to get the resolution you want, then email us at info@greedyrates.ca and we’ll help you out from there. Chances are that you can find a card better than the PC one you’ve held onto throughout these problems, and we’ll prove it to you.

GreedyRates

Noob says:

I saw the following on their website: A minimum annual personal income of $80,000 or household income of $150,000 is required for a new PC Financial® World Elite Mastercard®. To upgrade from another PC Financial Mastercard, the same income or a minimum $25,000 annual spending on the card is required.

What does it mean by “the same income”? Meaning the minimum 80k/150k? If a minimum spending of 25k on the card is required, then people can’t get the card for solely the free insurance.

The GreedyRates Team says:

Hey Noob!

Thanks for the request for clarification. If the annual income requirement for the PC World Elite Mastercard is $80,000 or $150,000 household (as it is for all World Elite cards in Canada), then there’s no escaping it. The language PC uses means that to upgrade to the World Elite from a different PC card, you’ll still need to show the same $80,000/$150,000 income. The only other way to qualify for the upgrade is to show PC that you’re spending a significant amount on your other cards. They’ve even made it easy and told you what your spending needs to be for them to consider compromising on their income requirement: $25,000 yearly.

If you can meet one of these criteria then apply, otherwise opt for a different card. In this case, we’re always happy to give some pertinent suggestions, based on what you want most from your card. Let us know!

GreedyRates

SASAN MASJEDI says:

The customer service is awful and really dis appointing. I was on the line waiting for one hour just to ask a question, but nobody answered my question. I do not recommend it

The GreedyRates Team says:

Hi Sasan,

Sorry to hear you had a bad experience with PC Financial customer service! We usually hear the opposite, and PC is actually known for its great service among other banks in the Canadian market. Perhaps you called during peak hours. This is usually our biggest problem we encounter when we need to call in to any financial organization: the phone lines are always busy in the middle of the day. Try earlier in the morning or later at night for better results. Good luck!

GreedyRates

Christopher L Wulff says:

I loved my PC MasterCards until the update to software last fall that made them completely incompatible with YNAB and Mint. Also the fact that their customer service reply around this issue has basically been “eff off, we don’t care about fixing it.” Then they say it’s a security issue, which is funny because no other bank or credit union has an issue with making it secure. I guess it’s on to other options now.

The GreedyRates Team says:

Hey Christopher,

Appreciate the comment. You’re not alone in your disappointment, and customer inquiries about the lack of support for these apps has fallen on deaf ears over at PC. Lots of other cardholders are making the switch to new cards alongside yourself due to this very problem, so we have to believe that PC will fix it sooner or later, but that’s not your problem.

Virtually every other bank in the country, with some possible exceptions for smaller ones, will be compatible with applications like You Need a Budget or Mint. Go with the big banks like TD, MBNA, BMO, RBC and you’ll find no issues. If we can be of any help choosing your new card, just let us know! Send us an email at info@greedyrates.ca or reply back in the comments section. Thanks!

GreedyRates

Carina says:

I just don’t get it, I applied, got a mail that I got approved, wanted me to go a pavilion to confirm my identity, called them and no one can say how much I got approved, is this normal? And i find their customer service people is avoiding my questions..

The GreedyRates Team says:

Hey Carina,

Thanks for your inquiry, and congratulations on being approved for the awesome PC Financial World Elite Mastercard! It’s unfortunate that you’re finding it difficult to determine your credit limit, but if you keep trying the customer service line then you’ll get a cooperative and knowledgeable person sooner or later. We’ve also had so-so experiences with PC customer service, but this is true for most banks if you call at peak hours (unfortunately, these are also the most convenient times to call). If you’re approved, then the bank already did a hard check on your credit, so there’s really no downside to going in, confirming your identity, and receiving the card even if you don’t know what its limit is.

If you don’t feel comfortable with the level of service you’re receiving, however, then pay attention to the red flag and look for an alternative. In this case we’d be happy to oblige you with some great options for credit cards that are even better than PC’s. Looking forward to it!

GreedyRates

Kristy I McGregor says:

Where can I get info regarding the travel insurance? I am leaving 2 weeks. Is that too soon?

The GreedyRates Team says:

Hey Kristy,

Thanks for your follow-up comment! Feel free to simply combine your inquiries and questions into one comment in the future, even if you’re posting under an article that isn’t relevant to all of them. For more information on travel insurance available via the PC World Elite Mastercard, you can simply go on their website for a link to the details. We’ll cover it briefly here as well: The card comes with emergency medical insurance for 10 consecutive days for those under age 65, car rental collision and damage waiver insurance, identity theft assistance and a concierge service available 24/7.

Though definitely not as comprehensive an insurance suite as other World Elite cards, which might also include trip interruption and cancellation insurance (see the BMO Air Miles World Elite Mastercard), it’s still a good deal for those who shop frequently with PC and partner brands. If the insurance isn’t sufficient, we’d be happy to provide other suggestions along the lines of the BMO card mentioned earlier, but adjusted to your specific needs. Let us know at info@greedyrates.ca. Thanks again.

GreeydRates

Kristy I McGregor says:

Is there any insurance on concert tickets purchased that I cannot attend?

The GreedyRates Team says:

Hi Kristy,

Unfortunately, we don’t believe that there’s any card out there that will reimburse you for concert tickets you bought and ended up not being able to use, regardless of the reason. PC’s World Elite card is no different, and though it does offer nice emergency travel medical insurance, car rental collision and damage coverage and more, you won’t be able to make any kind of claim on concert tickets or even airline tickets. Sorry to be the bearer of bad news!

GreedyRates

Heather says:

Does the PC World Elite MC give access to airport lounges?

The GreedyRates Team says:

Hi Heather,

Appreciate the great question about PC’s World Elite Mastercard. Though the card is excellent for grocery shoppers and other everyday use, it’s one of the few (if not the only) World Elite card that does not have airport lounge membership nor free annual passes. If this is a feature that you value highly (if you frequently find yourself on a layover, for example) then check out the BMO Air Miles World Elite Mastercard. This one offers LoungeKey membership and free passes, but not as many as the Scotia Passport Visa Infinite.

The latter card, funnily enough, has a lower annual income requirement of just $60,000, but offers a greater number of free annual VIP lounge passes. You’ll enjoy 6 (six!) free entries into any of the hundreds of these lounges every year, and for most people this means that they simply don’t spend time in the “basic” parts of the airport—ever. What a luxury!

GreedyRates

Tom Prosper says:

Hi GreedyRates
I’m travelling to Europe in a few months and was able to register my PC MC World Elite card with LoungeKey. I was advised to show my card at the lounge entrance but would but my card would be charged 27$ US for access. Was I misinformed?

The GreedyRates Team says:

Hi Tom,

Great question. For the PC World Elite Mastercard, you don’t receive complimentary membership to LoungeKey or any free entry passes, as you would with a card like the Scotia Passport Visa Infinite, for instance. This means that not only did you need to manually sign up for the LoungeKey program (as you’re aware), but that depending on your membership type, you’ll still need to pay to get into the lounge each time. Membership gives you the ability to enter, for a price.

You can opt to pay more each year for the more expensive LoungeKey account and get discounted or free entry into the lounge, but your membership entry cost is $27. Consider yourself lucky—even if non-members wanted to pay to get in, they couldn’t! This is essentially what the value is behind LoungeKey and other programs like it. Hope that helps.

GreedyRates

Rob says:

I have the World Elite MC. My trip is 11 days. Does coverage stop on day 11? How should I get covered for the final day?

The GreedyRates Team says:

Hi Rob,

Thanks for the great question about how coverage works with travel insurance on the PC Financial World Elite card. As you’re aware, the card’s free travel medical coverage lasts for 10 days, beginning on the day you depart. With a trip length of 11 days, you will not be able to call the insurance provider and get reimbursed for your any medical bills paid on this last day. If you’re worried about a medical emergency occuring and not being able to avail of your coverage to get reimbursed, you’d best call PC and inquire about extending your coverage for an extra day, which is easy to do and won’t be very expensive.

Most credit cards with any type of insurance will connect you with their insurance provider and provide extension of any length, depending on what cardholders need. It should take no more than a few minutes, but if you encounter any issues when talking to PC let us know! Thanks again and have a safe trip.

GreedyRates Staff

Rena R says:

Hi, a question abour extended warranty. So i purchased a new set of tires for my SUV from my dealership ‘s service department and charged to PC world Mastercard. The purchase comes with a 2-year roadside hazard coverage for the tires (free flat’s repair at that dealership, for example). This is advertised by the retailer, and nothing to do with the tires’ manufacturer. Does this roadside hazard get the extended warranty as well?

The GreedyRates Team says:

Hi Rena,

Thanks for the comment. If you’re wondering whether the extended warranties perk applies to your dealership or retailer’s warranty-like promotion, we think it probably doesn’t apply. PC specifies that the extension of up to 1 year is only for original manufacturers’ warranties, not for promotions coming from third party retail stores. We encourage you to inquire at the store if they’re advertising their own promotion or if it’s the original manufacturer’s warranty (from Goodyear for example). Good luck!

The GreedyRates Team

Roselyn L. says:

I have the World Elite MC. When it comes to car rental insurance, I am wondering if the card holder should be the one driving the car rental in order for the insurance to be valid. I have rented a car and travelling with my husband and a family friend and am planning to be mostly just the passenger. Thank you.

The GreedyRates Team says:

Hi Roselyn,
Good to hear from you! Surprisingly, we’ve never encountered this question before, so we did a bit of digging in the fine print for all World Elite Mastercards to see what you need to worry about regarding other rental car drivers. In the fine print of the insurance terms and conditions, which you can access online or with the documents sent alongside your card, you’ll find a section called Exclusions. Exclusion number 12 states that the insurance will not cover accidents or damage “Resulting from operation of the Rental Vehicle by any person other than authorized drivers specified in the Rental Agreement”.
To us, this means that you can get covered for any damage that other drivers are responsible for, as long as they’re included in the original rental agreement. Most rental places allow you to add authorized drivers for a small fee, so this is likely what clause 12 is referencing. This makes sense to us, because if you’ve paid for the rental with your World Elite card, the car itself is covered (to an extent), and it won’t matter who driving it as long as the rental agency has them listed on paper somewhere.
GreedyRates

Romeo says:

Hello

The auto rental collision insurance covers any licenced driver (including out of country licence holders) provided the person who has executed the transaction allows the “any” licenced driver to operate the vehicle.

Furthermore, I did have a TD Aeroplan Platinum Visa with the same feature and it specifically mentioned (…or another licenced driver). I did have a claim in 2014 and at the time possessed a non-Canadian/non-American DL. Allianz did honor the claim and paid the rental $37xx in damages.

Rental companies seem to be unaware of the fine prints of credit cards so they will most probably tell you “do not let another driver operate or you won’t be covered” but that is untrue. Besides, the claim will be covered by credit card insurance and not the rental company itself.

Also, PC WE MC is the first I am seeing which mentions that you are covered for up to 31 consecutive days of a rental period; whereas I am accustomed to seeing 48 consecutive days.

The term “…not so authorized…” is supposed to imply that the driver in operation was authorized by the renter to do so.

The GreedyRates Team says:

Hey Romeo,

Thanks very much for stopping by GreedyRates and commenting about the “authorized driver” concept as it applies to rental car insurance on credit cards. This is how it usually works when it comes to rental car damage and collision coverage. As long as the driver is registered with the rental company, you’ll be able to enjoy coverage if an accident happens while they’re driving. You’re right on two accounts as well: most rental companies either don’t know the specifics of this arrangement or simply want to make a sale and will therefore encourage you to buy extra coverage you might not need. Don’t fall for it!

You’re also correct that the credit card fine print leaves room for authorized drivers specifically with the line about drivers “…not so authorized”. If you’re looking for the best rental car coverage and aren’t happy with the 31 days of consecutive coverage provided by the PC World Elite card, check out our article on this subject specifically. We can also recommend some to you if you want to send us a short list of card criteria that you desire other than rental car coverage for 48 days. Looking forward to hearing back from you!

GreedyRates

Romeo says:

It is nice to see a reply to my post.

And I do appreciate your offer. However, I do already have a Collabria Travel Rewards Gold MC via Affinity Credit Union which gives me auto rental collision coverage for up to 48 consecutive days in addition to other travel and purchase perks which all good cards have. I do also have trip cancellation insurance.
https://www.affinitycu.ca/banking/ways-to-bank/ways-to-pay/credit-cards/personal-credit-cards (for a full list of benefits)
It has more benefits than PC World Elite MC. World Elite looks like a fancy thing to have in your wallet but isn’t the best “travel” credit card. That’s not to say it isn’t a nice card overall.

I do not have a PC WE MC. I just upgraded to a PC W MC from their regular MC. Only their World Elite MC has the exclusive auto rental collision feature and their World MC does not.

Joe says:

Not a bad card, but inept administration. After one month I’m still not able to verify my card and get online access to my account. They have excellent and innumerable excuses, but no solution. It’s an IT problem. That’s comforting.

Bee says:

agreed. I have had my card for a little more than a month, same issue and I have to check every single time I shop that I got my points. I have filled out ‘missing points from transaction’ report almost every single time. So, if your not on top of it you dont get points.

The GreedyRates Team says:

Hi Bee,

Thanks for the interesting comment on your PC Financial World Elite Mastercard. We’re sorry that some aspects of the card aren’t ideal, namely that if you see an eligible transaction hasn’t been awarded the appropriate amount of points, that you need to manually apply the points via a fill-in form that PC provides. Some banks don’t do this, leaving you to guess why they didn’t categorize a purchase as eligible, and change your shopping habits (or continue to make the same mistakes). In the end, if you still see the same issue occurring and are getting sick of the ‘missing points from transaction’ form, then consider switching to a different card. When that day comes just let us know and we’ll happily provide a better suggestion. Thanks!

GreedyRates

Beverley Castelli says:

Is trip cancellation available on PC World Elite Credit card. Medical is not required.

The GreedyRates Team says:

Hey Beverly!

Unfortunately, trip cancellation insurance isn’t available with the PC World Elite Mastercard. It offers emergency medical coverage and a collision damage waiver for your rental cars, but that’s it in terms of insurance. If you say that you don’t need medical insurance, then one of the card’s major perks isn’t applicable to you, and that’s enough for you to consider getting a different card. Can we suggest a card like the Scotiabank Passport Visa Infinite card?

It offers a plethora of benefits you might find useful, such as the six VIP passes to airport lounges every year, fast accrual of Scotia points, and of course, trip cancellation insurance coverage of $2,500 per person or $10,000 for a group. BMO’s World Elite Mastercard also has perks similar to this and the exact same amount of trip cancellation coverage. Furthermore, both cards have an income requirement that runs parallel with any other World Elite card (though Scotia’s is only $60,000). Check them out if you like or if you want other suggestions and more personal guidance, feel free to email us at info@greedyrates.ca.

GreedyRates Staff

Marsy says:

Hello. I have the PC world elite master card. I understand it offers travel insurance for 10 days. How does that work if your trip is 14 days?

The GreedyRates Team says:

Hey Marsy,

This is a good question. When one sees that their credit card offers a certain period of travel medical coverage, it doesn’t explicitly say whether or not trips of longer length are covered. If you purchase a trip for 14 days and only have 10 days of coverage provided by your card, it doesn’t mean that you get zero coverage, it means that the first 10 days of your trip after the initial date of departure are covered. At midnight on the 11th day, your coverage will end. However, you can always call the credit card issuer and request an extension to this coverage, or your other types of insurance coverage like flight delay or trip cancellation, and they’ll tell you how much it costs per day (or week) and bill you directly. It’s super easy. Hope that helps!

GreedyRates

Renee Sanders says:

I was at a PC store today. the person at the financial kiosk told me there is no international transaction fee with a pc world elite mastercard. Since I can’t find that in writing anywhere, I assume he was incorrect. Can you clarify?

The GreedyRates Team says:

Hey Renee,

Thanks for your comment. This is a bit strange for us to need to contest what a PC representative said, but because it was a salesman that makes it much easier. We won’t assume that the salesperson was intentionally misinforming you, but it says directly on PC’s page for the card that the foreign transaction fee is 2.50%. Perhaps he meant that they don’t add an additional fee above the standard 2.50%, but either way, expect to pay these fees when you hold the World Elite card.

GreedyRates

Christopher Field says:

Just got off the phone with PC Mastercard Insurance. Laptops are covered for 90 days.
No Extended Warranty of any kind for Laptop purchases. (iPhone is covered)

The GreedyRates Team says:

Hey Christopher,

Appreciate your coming to inform us about the purchase coverage specifics you discovered about the PC Financial card. Generally, it makes sense to us that a laptop would be covered for damage and theft post-purchase, but not extended warranties. Most laptops don’t come with a manufacturer’s warranty (this is something that’s usually purchased separately for extra), so there’s really nothing to “extend” anyway. Regarding the iPhone coverage, however, this is a benefit that many will appreciate. Thanks for reminding our readers how useful these benefits can be!

GreedyRates

Sudesh says:

Hi most laptops come with manufacturer warranty. ie dell comes with 1 year parts and labor warranty. I bought a laptop about 14 months ago and I paid with my pc world elite MasterCard . So it should be covered by my PC Card Insaurence since it came with manufacturers warranty. ??

The GreedyRates Team says:

Hi Sudesh,

Great question, thanks for bringing it to our attention. We weren’t sure initially whether PC’s insurance covers laptops, but after a deep dive into the insurance pamphlet that you received with the card (also available online) we found an answer. Apparently, the extended warranty does not cover computer hardware, accessories, or peripherals of any kind. This means your laptop’s warranty is the only thing protecting it, and that if you want to extend this warranty you’ll need to do it through the manufacturer. Since you purchased it 14 months ago, it may already be expired, so to cover yourself in the case of future damage we’d recommend protecting it with additional insurance. Good luck!

GreedyRates

Mary-Lou Phoenix Sheeler says:

I have the PC Master Card for ages and was able to periodically check my purchases and points balance on line.This was very helpful to me in that I could compare my records with theirs.Then the security was upgraded and ever since I have no access to my information. I have talked to three ‘people on the ‘help line,’ and have corresponded by email. Nothing nor anyone helps and I am still barred from my own Master Card site. I can see no advantage to a security upgrade that disallows even the card holder’s access to their own information. PC Master Card needs to upgrade its employees so that card holders can be guided through restoring their on line access. This is not only frustrating, but it is singularly irritating.

The GreedyRates Team says:

Hey Mary-Lou,

Thanks for the comment! We’re sorry you’ve been frustrated lately with PC, and the changes they’ve made to their website. If you’re negatively affected by any changes to the site and need help accessing your balance and list of purchases on credit, account details and other personal information, a PC representative should be able to help you over the phone. You should always have access to your own account information and no bank will block you from it. It sounds to us like this could also be a temporary gap in PC employee training, and that they may not yet know how to help customers with the newest features of the site.

We see two solutions for you. One is simply to wait a few days, or a week and then call back. By then the issue may be resolved. You might also have luck by going into a PC branch and getting personal face-to-face assistance accessing your online account. We’re sorry we can’t help further!

GreedyRates Staff

peter says:

PC master card hits you hard if you use you land up in financial tough times. This card will create havoc to your cedit score and there by your financial well being. Beware of going beyond the top banks for a credit card, and do not get fooled by salespeople in grocery stores. That’s how I got a PC card in no frills.

I maxed out my PC card, due to tough financial situation for couple of months. My credit score dropped 200 points due to high utilization. Since then I paid off my 95% balance in four months, and PC decreased my credit limit to the amount I paid every single month and now my credit limit is only 1000. Due to this behaviour my utilization ratio never recovered although I got rid of my credit balance, and there is no significant improvement in credit score.
I could not get any good credit product, as my credit score was not recovering because PC was continuously reducing my credit limit. It is taking me long time to recover my credit score because of PC financial predatory attitude. Any other top bank would never do this, and I would have recovered my credit score in couple of months.
I never seen any credit company reduce credit limit anywhere in the world, every time you pay off the credit card balance.

So beware of PC master card, and go for a top banking company. PC will ruin you financially, if you get into tough times once. I understand now that PC does it deliberately, so as to ensure that your credit score never recovers and you become ineligible for less interest credit products and you continue to pay high interest to PC. Otherwise I could have got a 0% balance transfer card or low interst loan and avoided paying huge interest to PC in these months.

Iam expecting PC might cancel my card, and then it will take couple of months for me to recover my credit score.

The GreedyRates Team says:

Hi Peter,

Thanks for the thorough and enlightening comment about your experiences with PC. We’re sorry to hear about the tough times you faced financially, but it’s great that you persevered and managed to pay off your balance. If we understand correctly, you had to max out your credit limit and take a hit to your score temporarily, but now you can’t get it back up even though your balance is fully paid. If PC isn’t raising your credit score and forcing you to utilize 100% of your credit every month (even if you pay it off), then you should consider using some of your extra cash now that you’ve paid your balance to open a secured credit card.

You don’t need a stellar credit score to open a secured card account, so take $500 and apply for a card like the Home Trust Secured Visa or the Refresh Financial Secured Visa. You’ll have greater financial flexibility, access to credit, and can reduce the utilization on your PC card as well. With diligent use of both cards at the 30% utilization ratio, you should be able to move your score up again. Then you can apply for a balance transfer card at a low rate, move your smaller balances over there and get out from under it all. If you need assistance with this journey, just let us know by commenting or emailing us at info@greedyrates.ca. Thanks!

GreedyRates Staff

Simon says:

Fantasticc advice. You guys are great! Love this website!

Joe says:

Hello when was the inception of this card? Card state date? more for my curiosity than anything.

The GreedyRates Team says:

Hey Joe,

We’re not sure of the exact day when it arrived. However, we do know that the PC Financial World Elite card was first introduced to Canadian markets in late 2015, and at the time it was the first no-fee World Elite card in Canada. While this is no longer true (we’re referencing the Rogers World Elite Mastercard and some others), it still holds up strong against the current market and represents an amazing pickup for those who spend a lot of money in PC-branded stores and on President’s Choice products from places like Provigo. Thanks!

GreedyRates

Michele says:

I’ve had a PC card for 10 years and the World Elite for the last year. I loved the card because I could redeem points for gas. Now that they’ve taken that away I have all these points that keep accumulating that I don’t know what to do with. I don’t buy groceries or anything from PC Financial’s affiliates. I do purchase stuff from Shoppers but not enough. I buy all my groceries and items from small independent health food stores and grow a lot of my own food. So, I’m looking for another card to compliment or replace this one that will give me cash back fairly quickly (ie free gas card) at a rate of return that’s complimentary to this card. Any suggestions?

The GreedyRates Team says:

Greetings Michele,

We totally understand why your PC card isn’t ideal for your situation. With few expenses from grocery purchases (it’s awesome that you grow your own food!) and nothing to spend rewards on, you’re much better off with a card that reduces your gas costs over anything else. We think you should cancel your PC card, but not before spending those accumulated points on something—anything—just to get your value out of it.

The Triangle World Elite Mastercard could be a good option if you spend a lot of money at Canadian Tire, whether on merchandise or to fill up your tanks. You’ll earn 4.00% in Canadian Tire Money, which can then be spent at Canadian Tire in return. There’s also the benefit of earning 7 cents back per litre on gas at Canadian Tire, and 5 cents back per litre elsewhere.

The Scotia Momentum Visa Infinite Cash Back card is another great option, which offers 4.00% cash back (an industry-best rate) on all gas and grocery purchases, 2.00% on recurring bill payments, and 1.00% everywhere else. If you’re into cash back, there are a lot of cards that will be relevant for you. We recommend checking out this page and browsing the cards that offer cash back on gas specifically.

The GreedyRates Team

Joe says:

I can’t seem to find any info on this but, would they allow you to purchase a pre-paid Visa or Mastercard with the points? This would be a way to use the points for other purchases and not just for just groceries at their affiliates.

The GreedyRates Team says:

Hi Joe,

We did a little digging on this matter for you and discovered that our initial inklings about the card were correct. In our experience, issuers discovered the trick of using points for gift cards and other prepaid cards a long time ago–and put a stop to it unless explicitly stated otherwise. PC Optimum is no exception, and the fine print of the program has this to say:

“PC Optimum points cannot be earned or redeemed for any of the following: (i) the purchase of tobacco, lottery tickets, or alcohol, (ii) deposits (e.g., a water bottle deposit, as it is not a purchase), (iii) gift cards, prepaid card products and wireless or long distance phone cards, (iv) transit tickets and passes, event tickets and post office transactions; (v) passport photos, (vi) cash back, (vii) gifts with purchases, [and] (viii) delivery charges.”

Hope that helps!
GreedyRates

Ryan F. says:

Use the points to buy gift cards for the places you do shop/eat. (Amazon, ITunes, The Keg, etc)I saved a ton of money last year at Christmas buying pre-paid Visa, pre-paid Master Cards and Playstation gift cards from Superstore using only PC points. You do NOT have to just spend it on food in store.

The GreedyRates Team says:

Hey Ryan,

What an awesome comment! We try to emphasize this exact point in reviews of the PC Financial card and others like it—many banks don’t advertise that their credit rewards points are more flexible if you simply redeem them for gift cards. They hold the same redemption value on gift cards, which are cash equivalent, relative to other rewards. This means that cardholders like yourself can effectively convert their points to “cash” by buying prepaid cards like Visas when available, or gift cards applicable for retail electronics stores and other premium shops.

While many PC cardholders also enjoy the ability to get big discounts on their favorite restaurants and groceries, your creativity is another excellent example of why we recommend this card. Thanks very much!

GreedyRates Staff

Judy says:

I have had the PC Financial World for years, but would like to get the World Elite. Do you know how sticky they are on the $80,000 minimum income?

GreedyRates says:

Hi Judy! Thanks so much for your excellent comment. PC Financial states on their website that the minimum annual income you need to achieve eligibility for the World Elite card is $80,000. In practice, it works differently. The requirement of $80,000 is somewhat flexible for applicants who can demonstrate excellent credit and other considerations that PC doesn’t publish. PC is particularly favorable toward current PC customers that want to upgrade to the World Elite, even if they don’t make the income requirement.

Approach the situation by calling PC and merely inquiring about the World Elite card. Tell them your account details and that you’re a happy customer, but are curious about the World Elite card’s benefits. They’ll fill you in and likely offer the upgrade.

GreedyRates Staff

Amal De Silva says:

it’s really hard to track them as for that you should go to you pc Optimum account, and it’s absolutely not clear for which transaction you receive . I suggested to customer service that we should see the points next to you PM MasterCard transaction – the most transparent way!
Thanks

ANTONINA says:

Hi,
I’ve been using this card for several years already and just took for granted that i received all the points i was promised. Now i checked recent transactions and found out that i just do not received points for some transactions. I asked for support and was granted some points. But the problem remains. A week later i found out that again i miss points. And it’s really hard to track them as for that you should go to you pc Optimum account, and it’s absolutely not clear for which transaction you receive . I suggested to customer service that we should see the points next to you PM MasterCard transaction – the most transparent way!
Thanks

Amal De Silva says:

Agreed …!

Joe says:

Hello,
It looks like i could give up my fee mbna world elite, giving 2 per cent in favour of a combination of pc mastercard giving three per cent for groceries and possibly gas at esso, and tangerine, with which you could target a few areas for higher cash return. What are your thoughts on this strategy?
Thanks joe

GreedyRates says:

Hey Joe! Thanks for your comment. The strategy that you’ve outlined is pretty solid. If you aren’t a fan of higher annual fees, the combination of the PC Mastercard and the Tangerine card would satisfy your preferences and also give worthwhile rewards. Essentially, with groceries and possibly gas covered by the former card, you can choose between 2 and 3 different categories for 2.00% cash back with the Tangerine card, thereby getting big rewards on whatever you purchase. We say go for it, but request that you let us know how effective your strategy is after a few months. If you’ve found a more pertinent combo, perhaps we’ll put it in one of our articles so other readers can take advantage!

You can learn more about the Tangerine card by reading our full Tangerine Money-Back Card review.

GreedyRates Staff

Peter Johnson says:

It is so frustrating trying to get my points since the change over last month….i hope the person in charge of this makes sure to go back and compensate people for this blunder.Im out lots of points,I thought they could automatically figure this out but for some reason they can’t.

JM says:

In March 2017, some posters indicated that they were not receiving points equal to the 3% when shopping at No Frills. I’m considering this card, and currently use the TD Cash Back Visa, which gives me 3% on grocery purchases. I have to purchase gift cards at Zehrs to use at No Frills, as the latter doesn’t accept Visa. Using the PC WE mastercard would eliminate this, but I’m not signing up if the return would be less than 3%. Did anyone conclude if items purchased with points offers from PC points only yield 1% as was suggested in the post from March? It seems like a reasonable policy to eliminate double dipping (points offer + 3% cashback), however, it would be a deal-breaker for me.

JM says:

To answer my own question on this, I got the card about a month ago and have been watching my points carefully to verify the 3%. I’ve only the used the card at Loblaws stores, and can confirm that after nine transactions at Zehrs and No Frills, my points earned represent exactly 3% of my spend. This is despite earning about 180,000 additional points through regular, in-store and special offers. It appears that the 3% is legit and isn’t affected by other points offers as previous posters had suggested.

Mike says:

One of the biggest perks you fail to mention is the PC Points on gas purchases. If you use Loblaws gas stations found at most larger stores you get 7 points per litre. That’s by far the best return from any gas station. And they have an agreement with Esso in Western Canada there’s 3 points per litre cash back using the card.

GreedyRates says:

Wow, thanks Mike! It’s great that readers like you notice further bonuses that we don’t. This is why we encourage people to come and post their experiences with the cards we review. We’ll be sure to take your findings into account for the future! Thanks again.

GreedyRates Staff

Sandra says:

Does the pic elite card cover travel insurance

GreedyRates says:

Hey Sandra, thanks for your question! The PC Financial World Elite card does have 10 days of travel medical insurance – an excellent length of coverage that is one of the best in the industry. In fact, it’s the only no-fee card that offers such a great deal. For other kinds of travel insurance like rental car, trip cancellation or flight delay, there are other cards that you should look at, like the BMO World Elite. If you have any other questions, just ask. Thanks!

GreedyRates Staff

Tracy says:

One thing people need to know about this card is if you miss one payment, even if you are customer who has been with this company for many years and always paid on time, they will freeze your credit until you make a payment. Even if you are no where near your credit limit. I missed one payment and when I went to use the card to buy airline tickets that were on sale I couldn’t access my card. I missed out on the seat sale and now I am looking at having to pay an extra $500.00 per seat at the current prices. They didn’t even call or send me an email to let me know that I had missed the payment they just froze the account. I will be cancelling the card as soon as I use up the points that I have built up.

Judi Luft says:

I have just cancelled my PC MasterCard as I was having trouble getting it 2 work. When called in was told my limit was lowered. I pay it off every single month but was told I have bad credit. Advised me to call credit bureau. When I replyed I shouldn’t have to chase the credit bureau, representative kept repeating same thing over & over. Had trouble understanding her with the accent. Great benefits but if that’s how they treat loyal customers that pay their card off every month…just on the principal alone I’m done with them.

peter says:

Yes PC sucks. They kill your financial history, if you miss payment or utilize your credit card more.

PC should advertise this, I see so many comments on PC for this. They do not have right to spoil any one’s credit history.

The GreedyRates Team says:

Hey Peter,

Thanks for the supportive comment, and readers should indeed heed your warnings about missing payments and overutilizing your credit. Banks take a stunning variety of factors into consideration when determining a credit limit, so it’s really no surprise that they scrutinize the use of that credit just as thoroughly. For example, that 30% credit utilization ratio we’re always harping on about is an industry-wide fact. Banks don’t want to see that their new customer is immediately maxing out their credit limit and doing so has a noticeable effect on one’s credit score.

The same goes for missing payments. If you can’t make the minimum monthly payment, you shouldn’t be getting the card in the first place, and the same goes for those who neglect to schedule automatic minimum payments (which nearly every bank offers). It’s a pretty low bar they set, but we understand that mistakes happen to even the most responsible cardholders. Either way, if you’re unhappy with PC, just let us know what features you are seeking from your ideal credit card, and we’ll do our best to suggest something close! Thanks again.

GreedyRates

Tah says:

has anyone made a claim using PC world elite free medical travel insurance? My spouse is concerned free insurance won’t turn out to be reliable once a claim is made. any experience with dealing with them for a claim?

spen says:

Pretty sure it’s the same coverage as all Mastercard World Elite programs. I think the insurance is through Mastercard, not through PC.

Rob says:

I was just approved for the card. I noticed the min. annual spend is $25K. Wondering what will happen if I fall short of spending the min. annual amount.

Beth says:

From what I understand, you could literally spend no money on the card and the worst they can do is either cancel the card, or charge you a $10 fee. We were concerned about the same thing, but after looking into it, there are no actual penalties (well, except the $10).

Howard says:

Good evening,

Thank you for the great and detailed reviews, very highly appreciated.

I applied for and just used the PC World Elite Mastercard at No Frills. Although the pre-tax bill amount was $136.30, the points earned did not reflect 3% – I earned 3561 points. At the 30 PC points per $1 spent that their website suggests, I expected 4089 points. Not sure where it is buried in the fine print, so I sent an inquiry to PC Financial, now awaiting their response.

Have you or any of the readers had similar experiences? If so – are there exceptions to the 3% earning rate? Any official response from PC Financial? Or did I simply miss something in the fine print, after all?

Looking forward to your input.

Thank you,

Howard

GreedyRates says:

Hi Howard,

That shouldn’t be the case. You should have earned the full 4089 points. There was an online breach of PC Plus accounts, as reported in the news in late February, where points were stolen from individual PC Plus accounts. We’d recommend you call PC and report your discrepancy to determine the cause and possible recourse.

Hope that helps,

GreedyRates Staff

Jaclyn says:

Hi Howard,

I am experiencing the same thing when shopping at No Frills. My reward points do not reflect the 3%. Did you receive a response from PC Financial?

I noticed something in the fine print indicating “Any bonus PC points offers available to all PC Financial Mastercard customers are calculated based on the regular earnings rate of 10 PC points per dollar spent.” I’m not sure how to interpret this, but perhaps if any items on the receipt were eligible for bonus PC point offers, then the points accumulated would be 1% for those items? That is just a guess at this point.

Thanks,

Jaclyn

Jay says:

Hi Howard,

I experienced the same issue. I called the PC to enquire about this after my first few purchases after receiving the credit card. The staff was not able to answer my questions related to points award and discrepancy. Frustrated enough I thanked the staff and disconnected.

Please share your experience/answer from PC.

Thanks

ta says:

you only earn 3% if you shop at a loblaws stores (superstore, loblaws, shoppers, etc) I don’t think no frills is a loblaws store.

Michele says:

No frills is part of the Loblaws banner stores

Peter R says:

The PC Financial World Elite MasterCard looks like a great deal for benefits such as the free 10 day out of country travel medical insurance with no annual fee. 
Does this travel insurance cover PRE EXISTING medical issues also ?

GreedyRates says:

Hi Peter,

From our reading, and we would advise you to read it yourself, it seems that Pre-Existing Medical Conditions are not covered. A pre-existing condition is defined in the PC Financial Wrold Elite MasterCard certificate of insurance as follows:
“Pre-existing Condition means any Medical Condition for which symptoms appeared or for which an Insured Person sought the attention of a Doctor, had investigated, diagnosed or treated, had treatment or further investigation recommended, or for which medication was prescribed or altered, in the 180 days prior to the Trip departure date. A Pre-existing Condition does not include a Medical Condition which is controlled by the consistent use of medications prescribed by a Doctor, provided that, during the 180-day period, before the Insured Person’s departure, there has been no other treatment or investigation recommended and there has been no change in medication. A new medication or increase/decrease in dosage constitutes a change.”

Hope that helps!

GreedyRates Staff

Robert Levi says:

Thanks for your insight as always. I have been reading many of your posts & I am amazed at the knowledge I am gleaning from all your advice to people. Keep up the great work.

Regarding BMO , If I cancel, which I need to do as the renewal fees just kicked , i only have 90 days to redeem points before they expire & at present do not have any travel plans. Can you redeem for anything else ? (gift cards, electronics etc….).

I am contemplating getting the West Jet Master Card. However, if I am using other cash back Master Cards PC World Elite at Loblaws stores, Tangerine for gas & a few other places etc..) Even though there is a sign up bonus, Is it still worthwhile if I am not sure I will use the companion ticket ? (similar to the example given in your post) . The annual fee of $100 knocks down the $250 West Jet dollars to $150 which is a fraction of the cheapest short haul flight (i.e.Toronto- New York) . How much $ would need to be spent to get $300 West jet dollars. This is where it gets tricky on how to divide your spending. Use it on travel rewards or cash back?

Lastly, would you know if there is any way to apply & get US based credit cards? They have great sign up bonuses on a lot of their cards. Their applications usually require a Social Security # (which I have ) & can have access to a U.S. address.

Thanks

Robert

GreedyRates says:

Hi Robert,

Thanks for the kind words Robert! Share our site with your friends on facebook!

First, yes you can use your BMO rewards to redeem for more than just travel. Check out the other items available for redemption in their catalogue here.

The nice thing about WestJet rewards is that you can do partial redemptions, so you can use the 250 Westjet dollars against a $400 flight, and pay the $150 balance out of pocket.

Some have been known to be successful if you’ve ever had a US social security number and a US address as well. We have a few of those people in our office! It might be easier to get approved with a store card first (Macy’s or Gap), then once oyu build a U.S. credit history start migrating your way up to US cards with heftier rewards.

GreedtRates Staff

Robert Levi says:

Hi . Great stuff as always. I have had a U.S. Citi Visa card for about 25 years, so I probablly have the credit rating needed, as well as S.S. # & US address. However i find it difficult applying online for these cards , as the income section is difficult to fill in being that they usually ask for address of employment etc… I guess I can try.

Can the BMO world elite points be transferred to Aeroplan or the like?

With West Jet , I see what you are saying, but in reality it is only $150 (still a nice amount) after the annual fee.

Robert

GreedyRates says:

Hi Robert,

1. Unfortunately no, you cannot transfer your BMO Rewards to Aeroplan.
2. Yes, you’re correct, with WestJet, the welcome bonus, after netting out the annual fee is only $150, which isn’t bad. What makes the WEstJet card is the companion ticket and the free bags. Awesome card for travelling couples and families.

GreedyRates Staff

Robert Levi says:

Hi.

1. I Guess we need to redeem for gift cards.
2. I am eager to apply for the various new credit cards , being that I will be cancelling the BMO World Elite & Td First class travel. What pitfalls , if any ,are there for applying for multiple cards ?

Robert

GreedyRates says:

Hi Robert,

You do not want to apply for multiple credit cards all on the same day. You will want to space it out so that you apply every 2-3 months or so. The credit bureaus are designed to detect those who are exhibiting behaviour deemed risky by the banks. In their risk models, someone who applies for multiple credit cards in a short period of time typically does so because they are in need of money. As such, those people have shown a higher likelihood for delinquency than others. As a result, the bureaus lower your score to reflect a higher risk to the bank. That said, you can have an unlimited number of accounts, you just need to space out the applications so you don’t unintentionally send the wrong signal to the banks.

GreedyRates Staff

Robert Levi says:

I have left some posts, recently & was going to cancel my BMO world elite due to the annual fee of $150 + for the additional users. You had recommended a few options for Master Card. Has the PC one jumped to the head of the line? As well, it seems it would be best to use this for Loblaw owned stores, however for other stores it might be worth using another cash back like Tangerine to get a higher cash back.

BMO World Elite gives you 90 days to redeem your points after cancelling the card, if I do not have travel plans, would you know what is the best bang for buck on redemption

GreedyRates says:

Hi Robert,

The no-fee PC Financial World Elite MasterCard will earn you the most rewards of any card at Loblaw owned stores (3%). Like you suggested, using another no fee card for non-Loblaw purchases like the Tangerine which can get you 2% in up to 3 categories and the Rogers MasterCard which can get you 1.75% on ALL spend is a great no-fee strategy to maximize your rewards. Of course taking advantage of the no fee first year offers with welcome bonuses and 2% cashback is also a good play.

The BMO World Elite MasterCard allows you to redeem for any travel through the BMO travel center. You’re given a market rate quote, for all the airlines that travel that route, for any destination in dollars, and then you use your accumulated travel dollars to redeem for your flight. Just pick a destination and time and choose the cheapest flight available like you would on Expedia, Travelocity or any other travel comparison site.

Hope that helps,

GreedyRates Staff