If you’re a high earner with good financial standing and a perfect credit score, the National Bank World Elite Mastercard is a top-of-the-class credit card for enjoying VIP travel perks, earning rewards, and getting cash back. Issued by one of Canada’s best banks, National Bank, this travel rewards credit card offers many benefits for frequent globetrotters. Let’s discuss its advantages, disadvantages, and more.
National Bank World Elite Mastercard is the Best for
- All who travel frequently;
- High earners looking for premium travel rewards credit cards;
- High rollers and big spenders looking for access to the exclusive World Elite program;
- Mastercard owners looking for access to VIP-worthy perks;
- Business owners looking for additional travel medical insurance and top-tier rates on all purchases.
What Are National Bank World Elite Mastercard Pros?
Like all other World Elite Mastercards, the National Bank World Elite Mastercard gives you access to a top-grade benefits program. Let’s discuss the perks you can expect.
Access to Mastercard World Experiences
The World Elite credit card program offers access to various complimentary upgrades and valuable offers. You can upscale hotel benefits, earn various rewards, receive welcome offers, and more through Mastercard Access.
Depending on your overall spending, you can earn cash back rewards for every purchase you make, as long as it happens over 12 months. Those who spend between $40,000–$80,000 can expect to earn maximum rewards. Every new cardholder receives a generous welcome offer through welcome bonus points. However, to unlock this reward, a new cardholder must spend a minimum of $3,000 in the first three months of getting approved. From an earner’s perspective, this credit card is quite lucrative. It allows a cardholder to earn cashback with every spending. However, what makes it so great is that you can use your cash back points to redeem travel.
If you become a proud owner of a National Bank World Elite Mastercard, you get access to a comprehensive array of travel insurance benefits such as:
- Extended warranty (up to 2 extra years);
- Purchase protection for 6 months or 180 days;
- Trip cancellation insurance;
- Trip interruption insurance;
- Stolen or lost baggage insurance;
- Baggage delay insurance;
- Flight delay insurance;
- Rental vehicle insurance (up to 48 days);
- Medical insurance coverage.
This card offers more than double standard extended warranty coverage and purchase protection compared to most credit cards.
If you’re frequently traversing the globe, getting an unlimited access to the National Bank Lounge could benefit you in many ways. The World Elite Mastercard is an excellent solution for all globetrotters who frequently fly via the Montreal-Trudeau airport. With it, you get unlimited National Bank Lounge access to free Wi-Fi, drinks, and snacks. In addition, you’re at liberty to bring one guest for free. Moreover, the card allows you to get a cashback refund on all expenses relating to airport fees, including seat selection expenses, baggage fees, parking tickets, etc.
Points redeeming flexibility
When redeeming your cash back points, you have flexible options on your hands. You can redeem your travel escapades in Canada or abroad using the A la carte travel option or ask for a refund for previous travel expenses. Each booking with the A la carte travel agency earns your cash back points per dollar spent. Once you’ve earned 10,000 points, you receive cash back in discounts. If you’re not a frequent traveler, the card allows you to redeem your cash back for gift cards, products, and merchandise. However, what makes this card so great is the option to use your points to pay off your card balance.
Are There Any Disadvantages?
Even though the National Bank World Elite Mastercard is a premium travel card, it comes with a few downsides to look out for. The most important downsides include high annual fees, high requirements, and difficulties earning top-tier rates.
High annual fee
Even though the card offers many rewards and travel perks, it has a hefty annual fee, even for a premium travel credit card. Even if you’re a high roller, you should get all the figures right to ensure the card is worth such a steep annual fee. Aside from the annual fee, the card also charges a fee for each authorized user you add to your credit card account.
High income requirement
While high income requirements are common for the World Elite credit card program, this card has a high requirement regarding minimal personal income. The card issuer also accepts applications from people with high household incomes. However, you’ll need at least $150,000 in household income to qualify.
Earning a top-tier rate is quite difficult
The World Elite Mastercard allows you to earn cash back points with every dollar spent with the card, but you’ll have to spend a minimum of $40,000 on the card within 12 months to achieve this benefit. Once you accomplish this goal, the cash back you receive should be much higher. Instead of rewarding you to a higher rate tier, you go back down to regular cashback until the year resets.
What Makes National Bank World Elite Different
The first thing that makes the World Elite Card from the National Bank of Canada different is the annual travel credit for airport parking, baggage fees, and seat selection. The card also gives you unlimited access to the National Bank Lounge at Montreal-Trudeau Airport. It also includes extensive insurance coverage, including award tickets for flight delays, trip interruptions and cancellations, and emergency medical insurance. Finally, the card allows you to earn cash back points per dollar spent.
Competition and Alternatives
- Scotia Momentum Visa Infinite – 10% cashback on all purchases for 3 months, Complimentary Concierge Services, and luxury privileges
- National Bank Platinum Mastercard – 20,000 welcome bonus, attractive rewards, no income requirements, and instant online decision
- Scotiabank Platinum American Express – 4 points per dollar spent, Priority Pass to Airport Lounges Worldwide, and 30,000 welcome bonus points
- National Bank World Mastercard – unlimited 2 points per dollar, rental car insurance, and comprehensive mobile device insurance
Although you must be a Canadian resident to qualify for this card, and there are some high requirements to consider, the National Bank World Elite Mastercard is a fantastic travel credit card for big spenders, high earners, and frequent travelers. It offers extensive travel insurance coverage, flexible rewards, and exceptional benefits for cardholders. While the annual fee might be pretty high, the card’s range of benefits is simply hard to ignore. If you’re a Canadian resident who often travels abroad, you should consider owning this card.
Frequently Asked Questions