PC Financial World Elite Mastercard: Minimum spend dropped | Credit card reward programs | Discussion forum | Canadian High Interest Savings Bank Accounts

Please consider registering
guest

Home

Discussion forum
sp_ArrowRight

Credit card reward programs
sp_ArrowRight

PC Financial World Elite Mastercard: Minimum spend dropped

Topic RSS

PC Financial World Elite Mastercard: Minimum spend dropped

October 13, 2024
8:24 am

Norman1

Member

Members

Forum Posts: 7272

Member Since:
April 6, 2013

Offline

According to their chatbot, PC Financial has dropped the minimum spend requirement that was reported earlier:

Mastercard's Annual Spending Requirement (PC Financial World Elite)

Starting 2024, the annual requalification process for PC Financial® World Elite Mastercard® holders, will be permanently discontinued.

This means, World Elite Mastercard® holders will no longer need to meet the annual minimum spend of $15,000 set out by Mastercard and Accounts will no longer be downgraded as a result of not meeting the minimum annual spend.

Rogers Bank had as well for their World Elite Mastercard.

January 12, 2025
10:36 am

HedgeFundManager

Newbie

Members

Forum Posts: 2

Member Since:
November 26, 2022

Offline

I balk at annual fees which I consider unjust enrichment

January 12, 2025
10:48 am

Norman1

Member

Members

Forum Posts: 7272

Member Since:
April 6, 2013

Offline

There's no annual fee for the PC Financial World Elite Mastercard.

January 14, 2025
1:06 pm

COIN

Member

Members

Forum Posts: 1158

Member Since:
March 15, 2019

Offline

Interesting. I seem to vaguely recall that the threshold was $15,000 spending.

January 15, 2025
12:56 pm

Briguy

Member

Members

Forum Posts: 738

Member Since:
March 17, 2018

Offline

They previously downgraded me to the World Card from the World Elite card so I cancelled my card. You earn 3% cashback at their stores and Esso, and 1% everywhere else in combination with their PC Optimum card, so not a bad card, but I didn't appreciate the downgrade .

I've been shopping lately at Walmart using the Rogers World Elite Mastercard ( and I have a linked Rogers account ) so at least I'm getting 3% cashback when I redeem against my Rogers bill.

In the future if I switch back to shopping at Loblaws stores, I can get a free Scotia Momentum Visa Infinite as part of my Scotiabank chequing package, which pays 4% cashback at grocery stores ( but only 1% cash back at Walmart since only MasterCard codes Walmart as a grocery store ) .

I currently have a free Scotiabank Passport Visa, but will be using the WealthSimple Visa with no FX in the future instead, which is still in beta and not widely available. Or I can use the Rogers World Elite MC with FX refund for USA travel.

January 17, 2025
5:19 pm

suburbs4life

Member

Members

Forum Posts: 179

Member Since:
April 20, 2019

Offline

Briguy, I got the offer for the beta version as well. How do we know we won’t be taxed on the cash back paid to the wealthsimple cash account for the credit card 2% spend payouts…. ?? It’s the main thing that is keeping me on the sidelines along with having to pay the card balance from my cash account. The cash account is taxable…

January 17, 2025
5:49 pm

Briguy

Member

Members

Forum Posts: 738

Member Since:
March 17, 2018

Offline

suburbs4life said
Briguy, I got the offer for the beta version as well. How do we know we won’t be taxed on the cash back paid to the wealthsimple cash account for the credit card 2% spend payouts…. ?? It’s the main thing that is keeping me on the sidelines along with having to pay the card balance from my cash account. The cash account is taxable…

The cashback for personal purchases is not taxable. It's only taxable if it's a corporate credit card and your company is letting you keep the cash back.

I didn't get the invite for the beta release of the WS credit card, but the actual roll out should be coming soon.

All RSS