Personal Finance

People complaining about the PC Financial Extra Rewards Mastercard (the black one)

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Feb 14, 2002
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People complaining about the PC Financial Extra Rewards Mastercard (the black one)

Some folks got annoyed enough about being automatically upgraded to the PCF black card to complain to the press:

http://www.moneyville.ca/article/108548 ... grade?bn=1

This guy was offered $10 worth of points!

[QUOTE]John Richards wasn’t impressed by Reidel’s offer of 10,000 extra PC points to compensate him for inconvenience. He’s still feeling skeptical.

“They claim there are benefits, but I fail to see them. The double points only apply to purchases in PC stores. If they applied to all purchases, it would be a better offer,” he said.[/QUOTE]

I must admit, it was a bit of a pain to be forced to upgrade to the new card. For me, it was the kick in the butt to move my preauthorized payments to my Smartcash. :p

Previous thread on RFD about this card: pc-financial-black-colored-mastercard-952019/6/
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Dec 11, 2005
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quanta wrote: Some folks got annoyed enough about being automatically upgraded to the PCF black card to complain to the press:

http://www.moneyville.ca/article/108548 ... grade?bn=1

This guy was offered $10 worth of points!



I must admit, it was a bit of a pain to be forced to upgrade to the new card. For me, it was the kick in the butt to move my preauthorized payments to my Smartcash. :p

Previous thread on RFD about this card: pc-financial-black-colored-mastercard-952019/6/

The whole thing was a giant cockup by PCF really because there is no reason they had to change your CC number if they planned ahead at all. Companies like MBNA let you switch from card to card to card without touching the number, PCF could easily have done the same.
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Dec 17, 2008
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I don't have any evidence to support this theory... but in that article.... Is it not true that people on Infinite and Platinum cards cost businesses more per transaction in merchant fees... Is this PCF's way of getting those higher merchant fees on this new card... hence the new set of numbers and card type?
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Nov 23, 2005
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Shawguy wrote: I don't have any evidence to support this theory... but in that article.... Is it not true that people on Infinite and Platinum cards cost businesses more per transaction in merchant fees... Is this PCF's way of getting those higher merchant fees on this new card... hence the new set of numbers and card type?

Yes, it is true. Few weeks ago, someone actually posted a link to a chart that showed all the fees charged by different issuing banks.
Sr. Member
Jan 31, 2009
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People just like to complain. I don't care if merchants are charged more.
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Mar 6, 2005
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Shawguy wrote: I don't have any evidence to support this theory... but in that article.... Is it not true that people on Infinite and Platinum cards cost businesses more per transaction in merchant fees... Is this PCF's way of getting those higher merchant fees on this new card... hence the new set of numbers and card type?
Yes it's true but:

The PC Black MC is not actually Premium Card so merchant fees would stay the same, the only real benefit really is 2% at Loblaw stores. But Loblaw doesn't pay merchant fees when customers use PCF M/C since they issue it so in a way they're just making more of an incentive for people to use it. The old card was 1% everywhere, so there wasn't any real benefit to shopping at Loblaw stores.

But agreed some people just want to complain about everything. The Expiry Date is not even related to any "contract" you have with the bank.
Sr. Member
Nov 22, 2010
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tkyoshi wrote: Yes it's true but:

The PC Black MC is not actually Premium Card so merchant fees would stay the same, the only real benefit really is 2% at Loblaw stores. But Loblaw doesn't pay merchant fees when customers use PCF M/C since they issue it so in a way they're just making more of an incentive for people to use it. The old card was 1% everywhere, so there wasn't any real benefit to shopping at Loblaw stores.

But agreed some people just want to complain about everything. The Expiry Date is not even related to any "contract" you have with the bank.

I'd say it is because of the merchant fees. In this chart posted in an earlier thread http://www.cfib-fcei.ca/cfib-documents/5513.pdf
PCF M/C is categorized as a (3), which carries the following caption:

"MasterCards noted with a (3) have a “high spend” feature that means merchant fees will escalate to a higher level once a consumer meets the spending or income requirements and consents to the card. Currently, there is no way for a merchant to know by looking at the card whether it will carry regular or high rates. CFIB refers to these cards as “variably high” cards and has asked MasterCard to replace them with separately branded cards."
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Dec 6, 2005
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People didn't like getting a crappy card replaced with a slightly less crappy card. I don't really understand all the fuss.... Sure it could have been handled better. The company has done lots of worse things, like suing that van driver for a pittance of money after he had his son and team killed.

On the bright side, maybe these folks will look at the other options out there and get themselves a better card.

Another plus is that Loblaws is finally rewarding people (selectively) for shopping at their own stores and using a tool that has been at their fingertips for ages as an incentive for shoppers to pick stores under their banner. This should have been a no-brainer (for all their clients) right from the start.
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punisher101 wrote: People just like to complain. I don't care if merchants are charged more.

Business basics 101 ... higher merchant operating costs get passed down to the consumer at the end of the day ;)
Newbie
Mar 4, 2011
1 posts
Ottawa, Ontario
They gave me 20,000 points. They also switched my billing to the new card before I even activated it. They offered me the service where they'd change my pre-authorized payments to the new card but refused to guarantee it in writing or clean up the mess if it didn't work (the companies will wait 3 months to tell you you haven't been making your payments. By that point you owe lots of $$ and your credit rating is going down). I'll be switching my pre-authorized payments to my VISA card. Free groceries are nice but so are free movies.

I already have the double points so this card isn't offering me anything I don't already have other than the wasted time trying to get my old card back (I asked for a replacement for a damaged card not a comprimised card - there was no reason to give me a new one), switching payments, and probably having a little chat with my MPP.

If this is how they treat preferred customers, can you imagine how they treat non-preferred ones?
quanta wrote: Some folks got annoyed enough about being automatically upgraded to the PCF black card to complain to the press:

http://www.moneyville.ca/article/108548 ... grade?bn=1

This guy was offered $10 worth of points!



I must admit, it was a bit of a pain to be forced to upgrade to the new card. For me, it was the kick in the butt to move my preauthorized payments to my Smartcash. :p

Previous thread on RFD about this card: pc-financial-black-colored-mastercard-952019/6/
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May 11, 2005
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Ajax, ON, Canada
My dad was planning to get that same credit card, but instead of sending him a new one (the black one), his current one (the gray one currently out there) was upgraded with double the points - 20 PC points per $1CDN spent....

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