National Bank World Mastercard®

National Bank is the sixth-largest commercial bank chain in Canada. Its headquarters are in Montreal, but the bank has branches in almost all provinces. With 2.4 million clients, the National Bank of Canada is undoubtedly a good choice if you’re searching for a reliable bank that offers a credit card specifically designed for travel, like the NBC World Mastercard.

National Bank World Mastercard is the Best for

• People who spend a lot of time abroad;
• Clients who are looking for various forms of travel and baggage insurance;
• Individuals searching for a card that gives them protection in case of a price change or trip interruption.

What Are National Bank World Mastercard Advantages?

The World Mastercard offers some outstanding benefits, especially for people who often travel abroad and need a credit card to support them with the necessary features.

Insurance coverage

One of the National Bank World Mastercard’s most significant advantages is access to fantastic insurance coverage plans. Namely, World Mastercard users can get an emergency medical term for 60 days. Besides that, clients over 65 can receive emergency medical insurance for 15 days.

Trip protection

If you’re frequently on the road, you’re undoubtedly interested in the trip protection¹ features the World credit card comes with. The trip insurance protection covers:

• $2,500 for trip cancellation;
• $5,000 for the trip interruption;
• $500 for flight delay;
• $500 for baggage delay;
• $1,000 for lost or stolen baggage;
• $2,000 for rental car personal effects;
• Protection against rental car damage and theft.

Attractive rewards

Using your World Mastercard can provide you with some fantastic rewards points. By charging your card only $2,000 a month, you can earn up to 33,000 rewards points yearly. You can earn over $250 in various rewards annually.

Extended warranty

The National Bank World Mastercard allows you to extend the manufacturer’s warranty on selected products you purchase with the card. The length of warranty extension depends on each product, but it’s possible to double it, giving you two additional years with warranty coverage.

Purchase protection

The 180-day purchase protection enables all World Mastercard users to protect their newly-purchased goods from possible theft and malfunction. With purchase protection, clients have 180 days to file a claim requesting a repair, replacement, or reimbursement for the damaged or stolen item.

Are There Any Disadvantages?

The National Bank World Mastercard comes with many benefits, but that doesn’t mean there aren’t any downsides to this credit card. Here are some key disadvantages you should be aware of.

High annual fee

The World credit card by National Bank comes with an annual fee of $115. This sum is quite expensive, considering there are numerous credit cards that don’t have an annual fee at all. Although companies issuing cards with a similar concept also charge an annual fee in most cases, the amount charged by the National Bank could be slightly lower to make the card more accessible to other people.

High service fees

Besides a high annual fee, the National Bank World Mastercard has some other expensive fees² that are part of the package. The purchase interest rate is 20.99%, while the cash advance and balance transfer rate is 22.49%. Compared to other banks with the same services, the World credit card has high-interest fees.

High minimum income required

If you want to get a National Bank World Mastercard, you’ll have to earn at least $60,000 per year. That’s the minimum income required for this card. Since $60,000 is slightly above the average yearly income in Canada, many people can’t apply for a World credit card.

A good credit score required

People who have a credit score below 725 can still get approved for the National Bank World Mastercard. That being said, the World credit card isn’t designed to be the starter credit card for users. Instead, they’re expected to already have a fairly good credit score when applying.

What Makes National Bank World Mastercard Different

The National Bank World Mastercard has numerous benefits, but its unique rewards program truly sets it apart from other credit cards. Each user needs to spend card funds to be able to collect rewards points and enjoy the rewards program. Here’s a short guide on collecting rewards:

• Spend $1 to $20,000 for 1.25 points;
• Spend $20,001 to $30,000 for 2 points;
• Spend $30,001 or more in purchases for 1.25 points;
• Book flights and vacations through À la carte travel for 1.25 points.

The travel rewards program allows you to redeem or use the collected points for future travel bookings. For instance, you can use the rewards points through À la carte Travel to buy flight tickets, vacation packages, or other travel essentials. Moreover, you can purchase gift cards and merchandise with the available points too.

Bottom Line

The National Bank World Mastercard isn’t your typical credit card for everyday use. The card is designed with a specific purpose and for a specific member base. If you’re someone who spends a lot of time travelling internationally, this credit card might be the perfect addition to your wallet. With various trip protection features and outstanding insurance coverage, you can rest assured you’re fully prepared for every adventure that might await you in a foreign country. However, keep in mind this card comes with some expensive service fees. Nevertheless, we believe the pros certainly outweigh the cons, so you should certainly give the National BankWorld Mastercard a go.

Frequently Asked Question

Alternatives and Competition

• National Bank Platinum Mastercard – No annual fee for 1 year, welcome bonus, and attractive rewards package
• Scotiabank Passport Visa Infinite – 35,000 bonus points, No foreign transaction fees, good rewards program
• Scotiabank Platinum American Express – welcome bonus, 4 points per dollar spent, and platinum benefits