We recently wrote an analysis about the new PC Financial World Elite MasterCard. At the time, the only thing missing was a sign up bonus. There is currently a promotion for 50,000 sign up bonus PC points. Below is a recap of the highlights of the credit card:
- No annual fee
- Earn 50,000 sign up bonus PC points (if you apply before
November 16, 2015)
- Earn 30 PC points for every $1 spent at PC stores, Shoppers Drug Mart, Pharmaprix, pctravel.ca and PC mobile (excluding PC mobile prepaid services)
- Earn 30 points per litre of Esso Supreme (Octane 91) and Esso SUPREME+ (Octane 93)
- Earn 20 points per litre on other gasoline or diesel
- Earn 10 PC points for every $1 spent on all other purchases
- Travel Emergency Medical Insurance for trips up to 10 days from date of departure, for those under age 65
- Car Rental Collision/Loss Damage Waiver Insurance
- Identity Theft Assistant Service
- 24/7 concierge service (for dinner reservations, reserve event tickets, deliver gifts, etc.)
Note that there is a minimum annual personal income requirement of $70,000 or a household income of $120,000.
To receive the full 50,000 points, you need to complete a few conditions. First of all, you will receive 4 welcome coupons each worth 5,000 points. Every time you use the credit card, you can redeem a coupon to receive the 5,000 points with any purchase at the checkout. So that’s the first 20,000 points. You will be awarded the other 30,000 points after your first in-store purchase of $50 or more before taxes.
Keep in mind that you need to redeem a minimum of 20,000 points (which is worth $20) and in increments of 10,000 points thereafter. So 50,000 points is equal to $50.
Not everyone will be a fan of this credit card, but if you shop at PC stores, then I think it’s worth having this credit card for those specific purchases, because 30 points per $1 spent is essentially a 3% return.