RBC Shoppers Optimum MasterCard Review

If you’re looking for value from a retail rewards program, Shoppers Optimum is tough to beat.  No other loyalty program in Canada let’s you rack up significant points in a short period of time.

RBC recognizes the value in the Shoppers Optimum program.  Earlier this year, RBC partnered with Shoppers on a co-branded bank account and debit card.  Now RBC is adding a credit card to the mix, introducing the RBC Shoppers Optimum MasterCard.

RBC Shoppers Optimum MasterCard

With this no-fee credit card, you’ll earn 15 points for every dollar spent at Shoppers Drug Mart, plus the 10 points you normally earn when you show your Shoppers Optimum card.  You’ll also get five points for every dollar you spend elsewhere.

So when you spend $200 a month at Shoppers with the RBC Shoppers Optimum MasterCard, you’ll earn 60,000 points in a year.  That’s worth about $100.  This beats other retail programs like PC Points, where you earn 1% back on your in-store spending with the PC MasterCard.

The Shoppers Optimum program is generous on its own, even without the help of a credit card to accelerate your earning potential.

Related: Best Retail Rewards Credit Cards

Sweeping changes to the program devalued points by up to 15 per cent, however Shoppers Optimum members can still earn nearly 2% back when redeeming points.

That doesn’t include the popular ‘20x points’ events, which Shoppers runs a few times a year, giving customers a chance to earn 20 times the usual number of points on everything you purchase that day.

Along with the launch of this new card, RBC announced that it plans to acquire the existing Shoppers Optimum credit card portfolio from Bank of America.

“We wanted to increase the value proposition for our customers, and adding a credit card is a natural extension of our branding alliance with Shoppers Drug Mart”, said Linda Mantia, Head of Credit Cards and Payment Solutions at RBC.

RBC research showed that 86% of Canadian loyalty card members site the need for accelerating their earning options as a key driver to choosing a rewards program.  Two-thirds of Canadians want the ability to exchange or transfer points between programs.

Cardholders will be able to exchange or convert their points between RBC Rewards and Shoppers Optimum points.

Right now you can earn up to 70,000 Shoppers Optimum Points by opening the RBC Shoppers Optimum Banking Account and the RBC Shoppers Optimum MasterCard at the same time.

Related: Loyalty Programs Worth Joining

RBC and Shoppers Drug Mart will continue to enhance their relationship by adding tap-and-go machines and more ATM’s in Shoppers locations.  They’re also in the early stages of adding in-store banking.

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