We’ll go into the main points in our National Bank World Elite Mastercard review below, but listed below are some highlights. This card still offers probably the greatest travel insurance packages in the marketplace – especially for the hard-to-insure age group between 65 and 75. The points program has been simplified, making it easier to redeem rewards. You can still use your points for a wide range of options, from statement credits to travel. Speaking of travel, with this card you may proceed to receive exclusive advantages like free airport lounge stays (Montréal-Pierre Elliott Trudeau International Airport only) and annual discounts on travel expenses.
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National Bank World Elite Mastercard
- Annual fee: $150
- Earning rate: 5 points per $1 on grocery and restaurant purchases; 2 points per $1 on gas, electric vehicle fees, recurring bill payments and travel booked through À La Carte Rewards; and 1 point per $1 on all other purchases.
- Welcome offer: This card doesn’t currently offer a welcome bonus.
- Annual income requirement: Personal income of $80,000 or household income of $150,000
| annual fee | $150 |
| Best features | Comprehensive travel protection, also for older travelers between 65 and 75 years old |
| Earning rate | 5 points per $1 spent on groceries and restaurants (as much as the primary $2,500 in gross monthly purchases charged to the account, no matter purchase category, and a pair of points per $1 thereafter) ; 2 points per $1 spent on gas and electric vehicle charging, recurring payments and a la carte travel service; 1 point per $1 spent on all the things else |
| Income Requirement | Personal income of $80,000 or household income of $150,000 |
| Interest charges | 20.99% on purchases, 22.49% on money advances, 22.49% on balance transfers |
| Point value | Varies from a low of $0.004 for statement credits to a high of $0.01 for travel |
| Welcome offer | This card doesn’t currently offer a welcome bonus. |
| Who it’s good for | world travelers, especially older ones; Cardholders who need to use rewards points for RRSP or TFSA investments |
National Bank World Elite Mastercard Review
We take a detailed have a look at the brand new National Bank World Elite Mastercard and weigh the professionals and cons to search out out if it is a top-tier travel rewards bank card.
How to redeem your rewards for travel and more
When you employ your National Bank World Elite Mastercard, you earn rewards points that could be redeemed for a wide range of rewards, including gift cards, statement credits, merchandise, experiences, travel, and even investing in your Registered Retirement Savings Plan (RRSP) or Tax-Free Savings Account (TFSA ) on the National Bank of Canada.
Repayments are very easy. Once you’ve gotten collected enough reward points to your desired reward, visit the National Bank’s online rewards boutique. There you possibly can browse or search to your item and redeem your points.
You can profit from it Travel bonuses from the National Bank In two ways. Book your trip along with your points on the à la carte travel agency or redeem points for travel expenses already charged to your card. In any case, you should utilize your reward points.
National Bank World Elite Mastercard Benefits
Reward
- The latest rewards points will likely be increased in several categories, including groceries and restaurants, and a few increased categories – equivalent to gas, electric vehicle charging and recurring bill payments – don’t have any cap.
- Spending limits have been simplified. For 5x acceleration, bonus points will likely be applied to the primary $2,500 spent monthly, no matter category.
Insurance
- The National Bank World Elite Mastercard has an exceptional travel insurance package available even to cardholders aged 65 and above, who can travel with peace of mind by having automatic 15-day emergency travel insurance of their wallet. People under 54 get 60 days, and folks ages 55 to 64 get 31 days.
- Additional travel protection includes as much as $2,500 for trip cancellation, as much as $5,000 for trip interruption, as much as $500 for flight delays and coverage for luggage theft, loss or delay.
- Due to recent changes to this card’s insurance, latest mobile device coverage is now available for 2 years, protecting your device against breakage, loss or theft for as much as $1,000.
Advantages
- The National Bank World Elite Mastercard offers some impressive – and unique – perks like free lounge access for you, one guest and as much as two children under 12 at Montréal-Pierre Elliott Trudeau International Airport, in addition to travel discounts.
- From January 2023, airline ticket upgrades and global lounge access will now be eligible for discounts.
- Additionally, for convenience, the utmost amounts within the travel expense categories are replaced with a single annual maximum reimbursement amount of $150.
Disadvantages of the National Bank World Elite Mastercard
- Despite sharp increases in some spending categories, you will only earn faster in groceries and restaurants until you spend $2,500 a month (across all categories). After that, you’ll earn 2 points per $1.
- If you previously held the cardboard, note that recent changes have removed protection for private items on board a rental vehicle.
- The multiple coverage clause has been clarified to the effect that claims paid out by other insurers are excluded.
- The maximum annual travel reimbursement is capped at $150.
Alternative cards
If the National Bank World Elite Mastercard piques your interest, it’s price comparison shopping. (See our full list of the “Best Credit Cards in Canada.”)
Scotiabank Gold American Express
With its rewards program and included insurance, Scotiabank Gold American Express is a solid alternative and offers the additional advantage of a low personal minimum income of $12,000. There are not any exchange rate fees with this card, so you possibly can save 2.5 to three% when making purchases in one other currency.
