Help protect your PC® Credit Card from the unexpected
Payment Support Plan (“PSP”)2 is an optional insurance that can help ease financial burden with payments on your credit card balance in case of job loss, disability, or loss of life.

3 ways Payment Support Plan helps you stay covered
Involuntary job loss or disability
A monthly payment of 20% of your PC® Mastercard® balance, as of the statement date on or immediately before the occurrence, for up to 5 consecutive months.
Loss of life
A one-time payment of your full PC® Mastercard® balance as of the date of death, up to a maximum of $30,000.
Spousal coverage
PSP extends most benefits to spouses who are Additional Cardholders. Spousal enrolment is automatic, and they are subject to the same eligibility criteria as the Primary cardholder.
You must meet the following conditions at the time you make a claim for job loss or disability benefits:
Full Time Employee
To be eligible for involuntary job loss and disability benefits, you must have been employed full-time, working at least twenty-five (25) hours per week with the same employer for the three consecutive months immediately preceding the job loss/disability.
Self-Employed
You may qualify for the involuntary unemployment benefit if your self-employment loss is due to the closure of the business for financial reasons.
Additionally, you must have been self-employed for twenty-five (25) hours or more per week, for an active business that has been registered or incorporated. This business must have been open and operating for at least thirty-six (36) consecutive months prior to loss. Please note that Additional Cardholders who are self-employed are not eligible for the involuntary loss of self-employment income benefit.
Loss of life
A one-time payment of your full PC® Mastercard® balance as of the date of death, up to a maximum of $30,000.
Spousal coverage
PSP extends most benefits to spouses who are Additional Cardholders. Spousal enrolment is automatic, and they are subject to the same eligibility criteria as the Primary cardholder.
Who's eligible?
Canadian residents (excluding residents of Quebec, Saskatchewan and the Yukon Territory)
Individuals under 65 years old
PC® Mastercard® cardholders with an account in good standing
Employed or self-employed individuals1
How much does it cost?
The cost for the Payment Support Plan is 99¢ (plus applicable taxes) per $100 of your current month's statement balance. For example, if the balance on your monthly statement was $300, the cost for that month of PSP would be $2.97, plus any applicable taxes.
Enrol for PSP in minutes - no calls or paperwork required
Step 1
Select ‘Accounts’ on your dashboard
Step 2
Select your PC® Mastercard®
Step 3
Select ‘Payment Support Plan’ under Accounts
Step 4
Select ‘Confirm & Submit’ after reading details
Important
If you are currently enrolled in Account Balance Protection (“ABP”) and want to enrol in the Payment Support Plan (PSP), you will need to cancel ABP first. Please note that if you decide to enrol in PSP, you cannot re-add ABP after cancellation.
Enrol for Payment Support Plan, by signing in to PC Financial® online banking.
Frequently Asked Questions
How do I make a claim?
Can I cancel my PSP?
Are Additional Cardholders covered?
Is the premium charged on my minimum or full statement balance?
When does coverage start?