Presidents Choice Financial MASTERCARD Consumer Reviews

I had a high credit limit of 13500! I was laid off because of COVID and started using it a lot. I was making 500$ a month more than what was asked to pay for a minimum payment. Figured when I went back to work I would double the payment. I never missed or was never late on a payment ever. I was at 7400 do! They decided I was spending too much and drop my limit to 7600 Which means when my new bill came out and they added the interest I would be over my credit limit amount! Then they could start charging me over fees! They didn’t bother to tell me they dropped it I just checked my account and saw it! They are a Sleazy sneaky company! I tried to avoid all their gas stations their grocery stores and shoppers drug Mart I try to never give that company another dime of my money especially when they tried to take advantage of me when I was already at my lowest! I transferred the balance owing to a low-interest credit card visa and now have paid it off four months after they lowered my limit!

I have had a PC Mastercard for almost 3 years now. They gave me a $2000 credit limit. I didn’t use the card a whole lot but I always made sure to make payments on it and this past week I decided I pay off my balance after using it during covid for groceries and necessities. I put $1100 on the card which made it over half paid. Today I wake up and my credit available is $64 instead of $1100 and says my limit is $1100. I called customer service and they tell me my limit was reduced TODAY because of one over-limit charge? I was furious. I took nearly half my paycheque this week to pay this card and they stole all of the money basically and reduced my limit. They could offer no explanation as to why other than one time I had an over-limit fee charge. They didn’t give me any notice or any reason just took all of my payments and left me with $64. I will never use this card again after this. This is the worst company I’ve ever dealt with...

They dropped my limit from 2500 to 1100 with no warning and when it went over they charged me 200 dollars over-limit fee I don't use this card but a family member has been and they continue to let her go over constantly I have called and emailed and no answers... I want to cancel it and have her pay as she can but other than one letter and a text message you can't reply to anything. So stay away from this company!

I had this PC Financial MC which is the worst MC in Canada with very poor customer service. They gave me a credit limit of $12000 then a couple of months after they reduced it to $7500😡 I never heard about any credit card companies reduce their customer’s limit unless the customer requests the reduction😡 When I contacted them about it they talked about their fine prints in the website😡 So I paid my card in full and requested them to cancel my card. Now they still keep my account open and I think I might need to seek legal advice to deal with them😡

If you don't pay more than the minimum payment even with never missing a payment they reduce your limit when you do make a large payment hurting your score by reducing credit utilization, can't wait until this card is gone, hope they go bankrupt!

In December they increase my limit used card for shopping also had some extra expenses unexpected. Payments were made then I made a bigger payment and they decreased my limit never said any thing just decreased. Called to ask why they refuse to offer one.
My credit score is now at an all time low because of utilization.

This company is not at all recommended keep pulling your credit report every month for no reason reducing your credit limit without notice (P.S i have an excellent credit 800+)

I used to work for one of the big 5 so have some experience. I got this for PC points and then one month they lowered my limit. I contacted them and it was restored only to be reduced 2 weeks later... Whenever I use secure messaging via the app I’m told I have to call. When a supervisor is requested they’re not available but will call back in 24 hours.

In their defence, they do call back but it’s days later, unfortunately.

Not impressed.

I was approved for a credit limit of $500.00 2 years ago. I've kept my debt utilization low. Paid it on time. My credit has improved during this time not due to this card but other items falling off. This card did nothing to improve my credit score. They have denied every attempt over 2 years to have my limit increased. They don't have a reason why they won't increase the piddly $500 limit. I can't do anything with this miniscule limit. Can't buy plane tickets or stay in a hotel for more than one day. And It takes forever for payments to post. The customer service isn't good. Just a terrible credit card. Waste of my time and energy.

Well, this financial company does not care about you just you spending money on that card and owing them for life. The interest rate keeps going up no way to disagree. The only way is to pay off the balance in full not everyone can do that. I signed a contract with 19.99% and now 39.95%!!! My other accounts have offered me lower and lower rates due to good standing. The one time I was out a job they refused to help me even though I got that insurance but nope. They charged me a hefty fee for not being able to pay and right to collections even though I said I just started a new job and will pay up the first payday. They ruined my credit for 5 years. Other companies said no problem took the extra bit on top of my minimums six months back and threw it on divided into two months of payments to keep me going ok. Be careful with these supermarket credit cards they all seem to just be a very clever scam or fraud if you will of consumers. And they will get away with it. The account is closed has not been used in 5 years. Putting $300 a month down on a $60 min payment. 2 months ago balance was at $2486.24 this month suddenly $3220.46 and all because that ridiculous interest rate kicked in. I glad I have the money today to actually pay this off and be done with them.