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$120 Credit Card Freebie, MBNA Devaluation, Emera Dividend Increase, and Monday Money Links

PC Financial World Elite MasterCard $20 + $100 Gift Card Freebie + Shoppers Drug Mart Bonus!

The PC Financial World Elite MasterCard is perhaps the best no annual fee grocery credit card out there.  It offers 3% cash back (PC Optimum Program) when shopping at Loblaws group of stores  (Loblaws, Dominion in NL, Real Canadian Super Store, No Frills, PC Mobile, and Shoppers Drug Mart) and you can redeem $10 or more towards products in their group of stores. For Loblaws shoppers out there, this card is a winner, especially since it doesn’t have an annual fee.

So what’s the freebie?  If you sign up through Rate Supermarket, for a limited time you get 20,000 PC Optimum points sign-up bonus which is equivalent to $20 in free groceries PLUS a $100 gift card towards select retailers – Starbucks, Cineplex, Cara Restaurants (Swiss Chalet, Montanas, Milestones etc) or iTunes.

As an extra bonus, the points program is offering new PC Financial World Mastercard holders up to 13.5% in bonus points when buying items at Shoppers Drug Mart (until the end of 2018).  Stack that with their regularly 20x bonus on weekends, and you will accumulate some serious points.

I must say that the more we focus on the PC Optimum the larger the rewards are becoming. This program will likely be the largest contributor to rewards redemptions in our household for 2018.  More on this in a future post.

If you are interested, you can find more Details HERE.

Money Money Links

For premium credit cards, it’s hard to beat the 2% MBNA Rewards World Elite Mastercard.  It’s so good that I included it in my top premium credit card compilation. Unfortunately,  MBNA is devaluing the points program and increasing the annual fee.  Credit Card Genius does a great job in explaining that the MBNA card is no longer the top premium credit card in Canada.

For parents out there, you have probably experienced group RESP people trying to sell you their product.  In my opinion, avoid at all costs.  While it’s nice to have someone take care of everything for you, it comes at a cost (ie. if you stop making payments, you will forfeit your balance).  Alternatively, set up your own RESP with a simple ETF portfolio.  Boomer and Echo explains in detail why you should avoid groups RESPs.

Some of the most popular posts on MDJ are the financial freedom updates.  It’s where I post my progress towards the ultimate financial goal of financial freedom.  In other words, when my investments pay enough in passive income to cover our family monthly recurring expenses. Mark from My Own Advisor is also well on his way to financial freedom and has set a big goal of achieving financial freedom in a little over five years!

On the topic of portfolios, one of my top dividend stock holdings is a power utility named Emera (EMA.TO).  Dividend Hawk broke the news that EMA has increased their dividend once again.  You can read more about the dividend increase here.  You can see my top dividend holdings here.

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FT About the author: FT is the founder and editor of Million Dollar Journey (est. 2006). Through various financial strategies outlined on this site, he grew his net worth from $200,000 in 2006 to $1,000,000 by 2014. You can read more about him here.

{ 6 comments… add one }
  • Leo T. Ly @isaved5k.com August 20, 2018, 9:37 am

    The PC world Elite MasterCard is definitely one of my goto cards when it comes to grocery shopping. I also pair it with the PC Optimum app to get extra rewards when I buy everyday item and extra points when I spend a certain amount. It’s a great no fee credit card to carry in your wallet.

  • GYM August 20, 2018, 3:35 pm

    Wow, $120 is a great deal for this! I love our PC Financial World Elite Mastercard. We have claimed hundreds in free groceries- I think this month our grocery bill was only $150 because of all the claiming.

    I am so sad about the MBNA World Elite being devalued- being one of the grandfathered ones ($0 annual fee) this hits hard. I signed up for another card though with 1.75% cash back.

  • Laura August 21, 2018, 10:30 am

    That is a great promotion for a free credit card! They have made it so user friendly without decreasing the value of the points compared to other free reward credit cards

  • Bill August 21, 2018, 1:00 pm

    Don’t forget that if you have the PC Financial World Elite Mastercard linked to a PC Optimum Account you will also earn points on purchases at Esso, and Mobil gas stations.

  • Andrew August 21, 2018, 2:51 pm

    The T&C’s have changed on PC Financial’s site to specify that the bonus points at Shoppers Drug Mart only applies when you apply though their site.

  • Caroline September 7, 2018, 12:46 pm

    I applied for the PC elite card a couple weeks ago and didn’t finalize the process yet. I wonder if I can try to get this great bonus offer. Now I feel like I am missing out:(

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