Presidents Choice Financial MASTERCARD Consumer Reviews

It's like a roller coaster with these guys. They drop your credit limit at a moments notice from $4000 to $1000. 6 months later they offer you an increase. 6 months after that, they drop it again. Of course your credit score gets affected by these swings in limits because your total available credit across all your accounts just dropped $3000, so an outsider looking in would think you just spent 3 grand.

None of my other cards do this.

Worst card ever for everything! I have good credit and I had the card for 6 years with not a single missed or late payment, and I couldn’t get a limit increase from my $500 starting limit.
Customer service is awful too.

They lowered my credit limit twice in the last 3 months yet I never missed a payment.
Their customer service is disgusting.
Do not bother with this card or any PC products for that matter.

I’ve had the most horrendous experience with PC financial credit cards. I’ve had the card for a few years and only wanted it for the points. The credit card gets you nowhere further with points although they promise the world.

Terrible experience #1:
Auto-payments from my primary account (different financial institution) had expired without me realizing it which meant I had missed 2 payments with my PC cc. Not one phone call, email, notification from PC Financial. I had randomly logged into credit karma and found out that I had missed the payments. That day, I had got a call from a third party to say that my account was going to collections. Not from PC financial. With no communication, they sent my account to collections. I have never missed a payment once prior to this.

Terrible Experience #2:

Once again, I signed into credit karma to see that my PC CC was under closed accounts. Upon spending 30 minutes waiting to speak with someone, apparently there was a request to close my account through a request to speak to a representative online. Never got a call. Never got a confirmation that my account had apparently been closed. Nothing. As I write this, I’m trying to put an offer in on a house and find out a huge amount of my credit amount had randomly been cancelled which can seriously mess with my pre-approval.

Just avoid this financial agency at all costs. It’s a true customer service nightmare.

I have no idea what I have done to this company. I have held this card for 1 year. I have paid more than the minimum payment on a $3000.00 limit card. Normally I pay $400 a month to the card. I have never missed a payment and never late. I paid off the card last week and this week I got a message - We make every effort to ensure that your President's Choice Financial® Mastercard® meets your needs. Due to your recent account history, we have decided that a lower credit limit would better suit your requirements at this time. Your credit limit has been lowered, effective immediately.

Your new credit limit is now $1,000.00

I don’t understand what I did?! I see others have expressed their frustration and disappointment about this card. I will be cancelling this card. $3000 was too low much less now $1000. I make $140,000 a year. I’m better off without a card like this.

Don’t even waste your time getting this card! It is a complete joke. Do not use this card before this company embarrasses you!

They promised me a credit increase after 6 months if I kept in good standing. I did and was stranded somewhere far from home and asked for an increase for emergencies and they denied me and I always kept my account paid. They are not for customers! I decently don’t recommend this credit card.

I had 600$ credit available on my Mastercard and I do payments after every two weeks then suddenly they put a temporary hold on my account without notifying me plus ask me to pay the rest of the money which 400$. It is ok am not saying that am not gonna pay that but I have 600$ you can deduct your 25$ from there too. Plus, the customer service agents are so rude and lazy like they don't want to do work. I recommend choosing any other company rather than this PC Finance.

I have had this card with them for over 7 years. I may have been late to pay maybe a hand full of times. My credit limit was $2900. I've been using it and making payments monthly. I made a payment of $2600 towards my card after selling my camper. Went to use my card at the dentist and was declined. Checked my balance and my limit was dropped to $1000. This is their response. "We make every effort to ensure that your President's Choice Financial Mastercard meets your needs. Due to your recent account history, we have decided that a lower credit limit would better suit your requirements at this time. Your credit limit has been lowered, effective immediately." First off, as a loyal paying customer, how is the drop in limit meets my needs... No way in hell it does. AND HOW WOULD A DROP IN CREDIT LIMIT BETTER SUIT MY NEEDS. WHEN I NEEDED THEM THE MOST, I WASN'T ABLE TO PAY FOR MY $1600 DENTAL SURGERY. I had to empty what little savings I had after taking my kid to a sick kid's hospital. DON'T WASTE YOUR TIME ON THIS CARD... THEY ARE A JOKE OF A COMPANY. I will be avoiding every company that offers PC Optimum points. GO...YOURSELVES PC.

My first credit card had a nominal credit limit of 35$ (this was 1995, so probably like 100$ in today’s funds), and I could make purchases in any amount, as long as the card was adequately funded ahead of time. I tried pre-funding the PC Financial MasterCard, yet a purchase still declined, and, after being on hold for over an hour, asking for the solution, the situation is still impossible to resolve, or even workaround. I expected more from this 21st century, but with this kind of devolution in service and features, I cannot be honestly optimistic about the progress of civilization.