President’s Choice Financial (PC Financial) is the financial services division of Loblaw Companies Limited — Canada’s largest food retailer. PC Financial credit cards earn PC Optimum points, which can be redeemed for free groceries, drugstore products, and household items at Loblaws banner stores and Shoppers Drug Mart.
For Canadians who regularly shop at Loblaws, Zehrs, No Frills, Real Canadian Superstore, or Shoppers Drug Mart, PC Financial cards offer exceptional value with no annual fee.
PC Financial Credit Cards
| Card | Annual Fee | Earn Rate | Income Requirement |
|---|---|---|---|
| PC Financial World Elite Mastercard | $0 | 45 pts/$1 at Shoppers Drug Mart; 30 pts/$1 at Loblaws banners; 30 pts/$1 on PC Travel; 10 pts/$1 everywhere else | $80,000 personal / $150,000 HH |
| PC Financial World Mastercard | $0 | 30 pts/$1 at Shoppers; 25 pts/$1 at Loblaws; 10 pts/$1 everywhere | No stated minimum |
| PC Financial Mastercard | $0 | 25 pts/$1 at Shoppers; 20 pts/$1 at Loblaws; 10 pts/$1 everywhere | No stated minimum |
PC Optimum conversion: 10,000 points = $10 in redemption value (0.1¢ per point).
The PC Financial World Elite — Top Pick
The PC Financial World Elite Mastercard is one of the best no-annual-fee grocery cards in Canada for shoppers at Loblaws and Shoppers Drug Mart.
Effective earn rates:
- Shoppers Drug Mart: 45 pts/$1 = 4.5% back at redemption value
- Loblaws banner stores (Real Canadian Superstore, Zehrs, No Frills, etc.): 30 pts/$1 = 3.0% back
- PC Travel: 30 pts/$1 = 3.0% back
- Everywhere else: 10 pts/$1 = 1.0% back
For a household spending $600/month at Loblaws + $200/month at Shoppers, annual PC Optimum earnings:
| Location | Monthly Spend | Earn Rate | Monthly Points | Annual Points |
|---|---|---|---|---|
| Loblaws banners | $600 | 30 pts/$1 | 18,000 | 216,000 |
| Shoppers Drug Mart | $200 | 45 pts/$1 | 9,000 | 108,000 |
| Other | $500 | 10 pts/$1 | 5,000 | 60,000 |
| Total | 384,000 pts = $384 back |
At $0 annual fee, that’s a meaningful grocery discount for Loblaws shoppers.
See the full PC Financial World Elite Mastercard Review →
PC Optimum Points — How They Work
PC Optimum is the loyalty programme shared across Loblaw Companies stores. Points are earned through:
- Shopping at Loblaws banner stores — in-store (swipe your PC Optimum card or app) and via the PC Financial credit card
- Shopping at Shoppers Drug Mart — in-store and via credit card
- Buying fuel at Esso — PC Optimum and Esso Extra partnership
- PC Travel bookings
- Bonus offers — personalised offers in the PC Optimum app (often 50,000–100,000 pts on specific products)
Redemption: At checkout, redeem in increments of 10,000 points ($10 value). You can apply multiple increments (e.g., 50,000 pts = $50 off).
Points do not expire as long as you earn at least 1 point every 12 months.
For the full points value breakdown, see our PC Optimum Points Calculator.
PC Financial vs. Other Grocery Cards
| Card | Annual Fee | Grocery Earn | Notes |
|---|---|---|---|
| PC Financial World Elite | $0 | 3.0% at Loblaws banners | Only at Loblaws; PC Optimum |
| Scotiabank Gold Amex | $120 | 6x Scene+ = 6% at grocery | Works at Sobeys, Metro, Farm Boy, Loblaws |
| American Express Cobalt | $156 | 5x MR = 5–10%+ in travel | Works at most grocery stores |
| BMO CashBack World Elite | $120 | 5% cash back | Up to $500/month; any grocery |
| Tangerine Money-Back | $0 | 2% grocery (chosen category) | Any grocery store |
PC Financial’s niche: It outperforms general grocery cards specifically at Shoppers Drug Mart (4.5% effective return). At Loblaws (3.0%), it trails paid cards like the Scotiabank Gold Amex and Cobalt. But at zero annual fee, it wins for shoppers who concentrate spending at Loblaws and Shoppers.
Does Loblaws Accept American Express?
Most Loblaws banner stores accept American Express, but coverage is inconsistent by location. See our dedicated guide: Does Loblaws Accept Amex?
Frequently Asked Questions
Is PC Financial the same as CIBC? PC Financial credit cards are issued by President’s Choice Bank (a wholly owned subsidiary of Loblaw Companies). They are NOT CIBC cards — CIBC used to administer them but PC Financial became an independent bank in 2018.
Can I earn PC Optimum points in Quebec? PC Optimum points can be earned in Quebec, but Quebec’s Consumer Protection Act imposes stricter contest/loyalty rules. Some promotional offers may differ. PC Financial credit cards are available in Quebec.
Does the PC Financial World Elite charge foreign transaction fees? Yes — there is a 2.5% foreign transaction fee on the PC Financial World Elite Mastercard. It is not a no-FX card. For no-FX-fee travel, consider the Scotiabank Passport Visa Infinite or Rogers Red World Elite Mastercard.
Can I earn PC Optimum and credit card points at the same time? Yes. Swipe your PC Optimum card (or show the app) AND pay with your PC Financial Mastercard. Both sources of points are credited simultaneously. This is the “double-dip” that makes PC Financial cards especially powerful at Shoppers Drug Mart.
What happens to my PC Optimum points if I close my card? Your PC Optimum points live in your PC Optimum account, not on the credit card. Closing the credit card does not affect your accumulated PC Optimum balance.
Related Articles
- PC Financial World Elite Mastercard Review
- PC Optimum Points Value & Calculator
- Does Loblaws Accept Amex?
- Best No Annual Fee Credit Cards in Canada
- Best Grocery Credit Cards in Canada
- All Credit Card Reviews
Card details current as of June 2026. PC Optimum earn rates are subject to change. Verify current rates at pcfinancial.ca. See our Advertiser Disclosure.