Interest Rate: 19.97%
Rewards: Earn PC points on every purchase, including extra points at Shoppers Drug Mart/Pharmaprix, Esso, PC Travel and Mobil. Points can be redeemed at Loblaws, No Frills, PC Travel and Shoppers Drug Mart/Pharmaprix. Ten dollars is equal to 10,000 PC points.
Below is the President?s Choice Financial??Mastercard??Application Disclosure Summary. Please review and print a copy for your records.
|Annual Interest Rate||Purchase interest rate:?19.97%
Cash Advance interest rate:?22.97%
Promotional balance transfers:?0.97%?for?6?months if made within?90?days of account approval if you apply by?December 31, 2019.
We may, with prior notice, increase your Purchase and Cash Advance rate to the Performance rate of?25.95%?for purchases and?27.95%?for Cash Advances following a review of:
|Interest-Free Grace Period||21 days
A minimum of?21?days for new Purchases (meaning purchases which have not appeared on any previous statement) if you pay your entire current statement balance in full by the applicable due date, otherwise interest is charged from the transaction date.
The interest-free grace period does not apply to Cash Advances (which include balance transfers and convenience cheques), and interest is charged from the transaction date.
|Minimum Payment||Any past due amounts, plus: your statement balance if?$10?or less, or the?greater of:
(b)?2.2%?of your total statement balance (5%?for new accounts issued to Quebec residents as of July 1, 2019), or
(c) the interest charges and fees billed on the current statement plus?$1.
|Foreign Currency Conversion||2.5%
For foreign currency transactions, the foreign currency conversion markup percentage charged for purchases and cash advances and deducted from refunds and credits is?2.5%?of the amount of the charge or credit transaction.
|Other Fees||To be charged on the day the transaction occurs:
Cash Advance at a bank machine or teller in Canada:?$3.50
Cash Advance outside Canada:?$5
Overlimit charge if over the credit limit on statement date:?$29?(for Quebec residents as of July 1, 2019 statements:?$0)
Cash equivalent transaction (such as for a wire transfer or money order):?1%?(minimum?$5, maximum?$10)
Dishonoured payment or convenience cheque:?$42
Copy of a sales draft:?$10?(for Quebec residents as of July 1, 2019:?$0)
Copy of a previous account statement:?$10
Credit balance refund made by cheque:?$20
Balance Transfer:?1%?of the transferred amount will be charged for balance transfers requested?6?months or more after account approval.
Inactive account: if on your statement date there is a credit balance on your account and there has been no activity on your account (meaning no debits, credits, interest or fees) for the preceding?12?consecutive months, your account is subject to a fee equal to the?lesser of?$10?or the credit balance amount.
The PC Financial Mastercard that has card rental insurance is the President’s Choice Financial World Elite Mastercard. This card offers Car Rental Collision/Loss Damage Waiver Insurance. It provides Collision damage and theft protection for your car rental needs. Read our review on the PC World Elite Mastercard here.
The credit score needed to get approved for a PC Mastercard credit card is between fair to good which means 680 to 750.
For the President’s Choice Financial World Elite Mastercard the credit score needed is good to excellent (700 to 850).
You can go to the PC Financial President's Choice website and apply online.
You can apply in person at participating supermarkets everywhere in Canada.
You can apply in person at participating locations with a President's Choice Financial pavilion or in-store representative.
PC financial offers travel emergency insurance but do not offer trip cancellation insurance. Please review the certificate of insurance for details.
Credit card issuers will determine your credit limit through a convoluted process called underwriting. The higher the credit limit, the more that the Credit card issuers indicate that it trusts a borrower to repay the debt. The credit limit will depend on your credit score and existing debts.
Overall, the PC Financial Mastercard is a phenomenal choice! Not only does the card have no annual fee, card holders also benefit from easy to obtain PC points. Points can be earned when running your errands, such as filling up on gas and buying groceries. When you want to redeem them, you can go to eligible locations and get your food or other necessities for free!
All of the other fees, such as interest, over limit and returned payment fees, are fairly standard when compared to the industry benchmarks. However, most of these fees can be avoided so long as you manage the credit card responsibly by making payments on time and in full. Lastly, this card does not have any limitations or requirements aside from a routine credit check when you apply.
Another benefit to using this credit card is working with PC Financial. Unlike other traditional banks, PC Financial doesn't offer all the fancy services and gimmicks. Although, that means that your fees will naturally be lower since the bank doesn?t pay for things like physical branches and tons of employee?s salaries. Yet another thing to save on!
In conclusion, this credit card is affordable when compared to industry standards, rewards can be earned and redeemed on necessary purchases like food and gas, and it is accessible to essentially every Canadian. Let?s give it up for PC Financial's Mastercard!
President's Choice Financial Mastercard is a great credit card for those who like to earn and redeem Optimum points at all the partners locations.The President's Choice Financial MasterCard is a basic no-fee credit card that is ideal for families and individuals who frequent stores where President's Choice products are sold, including Joe Fresh, Loblaws, Real Canadian Superstore, and more. It's a good way to get the most out of your weekly grocery run but may not be the best choice if you want to carry a balance or use your rewards for cash back or travel.