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Email this9:33 pm
December 4, 2016
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It's not the best study. For example, they left out many issuers. They focused on larger banks primarily.
They found PC Mastercard’s were best at a pretty low rating of 788 out of a possible 1,000. The worst was TD which isn't surprising to me. It had 739 out of 1,000 which isn't that much lower.
For some reason, the 6000 people they studied were generally okay with the cards they were quizzed on.
Why else would you have it if you didn't like it right? So, quite bias.
TD is well known for fees and I avoid them.
The studied also said that 48% of respondents switched for a better rewards system. Which makes sense. As I said in a past thread from a different study:
"About 50% of people just don't care about card features"
From:
12:55 am
October 21, 2013
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Interesting that MBNA fared relatively poorly in the study, as a lot of people seem to have been impressed with its rewards in the past, but less so now.
As noted, the study missed some important cards in the marketplace - Tangerine, all CU cards, and the current no-forex cards, for instance.
I'm sticking with my BigBank card. It's reliable, does what I want, and gives reasonable rewards. But I also have a card for foreign transactions, and I keep both a MC and a Visa. They all do what they're supposed to do. In order to grab my attention, a card would have to offer at least 1.75% on all purchases.
I don't really understand the attraction of the PC card. I know it is favoured by Loblaw customers because of the 2% (I think) return at their various stores. I find it way cheaper though to buy discounted gift cards when on special offer somewhere, for Sobey-affiliated stores. I typically save 10% on them (in bonus Air MIles, which can be quickly redeemed for gas etc.).
I suppose that if Loblaw stores and Shoppers Drug were all I had to choose from, I'd be happy enough to have this card. Adding Shoppers to their stable has undoubtedly enhanced the PC CC brand's reach. And it's free.
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