Quick overview
Globetrotters may well find the National Bank World Elite Mastercard a compelling credit card option thanks to its substantial rewards and travel benefits. With a solid welcome bonus, this card also offers big pooints on groceries and dining, gas, EV charging, recurring bill payments and à la carte travel. The card also boasts travel-friendly perks like lounge access, an annual travel expense reimbursements and an attractive array of travel insurance.
While the rewards and travel benefits are impressive, the $150 annual fee may be too pricey for some. Additionally, the card may be out of reach for many as it requires a minimum gross annual income of $80,000 or $150,000 in household income. Additionally, the welcome promotion is contingent on meeting a strict spend minimum at various timelines of being a cardholder or you’ll miss out on bonus points. It’s also worth noting that, for a travel card with a considerable annual fee, the lounge offerings are minimal, allowing you visits to the National Bank Lounge in Montreal only.
Who’s the National Bank World Elite Mastercard for?
The National Bank World Elite Mastercard is designed for individuals who enjoy travel and seek significant rewards for their spending at grocery stores and restaurants. The perk of the card’s generous suite of travel insurance includes out-of-province medical insurance, flight cancellation, delayed flight, and stolen luggage insurance. It even features mobile phone insurance, which is still somewhat of a rare insurance offering among cards in Canada. The card will also appeal to those who want a flexible rewards program with the À la carte Travel rewards program cardholders can redeem points for gift cards, discounted travel, a statement credit and more.
Pros and cons
Pros
-
Generous earn categories and welcome bonus
-
Flexible point redemption
-
Impressive $150 travel expense redemption
-
Robust insurance, including mobile device insurance
-
Industry-leading extended warranty and purchase protection
Cons
-
$2,500 spend cap on the max rewards earn rate (from 5 points down to 2 points)
-
High income requirement of 80,000 individual or $150,000 household
-
Lounge visits are only available at one airport
-
High credit score needed
National Bank World Elite Mastercard welcome bonus
- Get up to $1,460 in benefits and rewards upon enrollment*
How to earn À la carte Travel points on National Bank World Elite Mastercard
Other than the welcome bonus, you’ll earn 5 points on dining and groceries (however your earnings in this accelerated category are capped at $2,500 in gross monthly purchases, once that amount is reached, you’ll only earn two points per dollar for grocery and restaurant purchases). You’ll also get 2 points on gas, EV charging, recurring bill payments and A la carte travel and 1 point on all other purchases.
You can maximize your point accumulation by focusing your spending on the highest earn categories of restaurants and groceries.
How to redeem À la carte Travel points on National Bank World Elite Mastercard
You can redeem your National Bank’s rewards points through their online À la carte rewards portal. Once on the portal website page, you can then redeem your points for an impressive array of rewards: gift cards, statement credits (with a minimum of 6,250 points for $25), select charities, put points towards your mortgage, buy merchandise from the online boutique and use points for travel. With travel, you have the option to either book travel using your points or get reimbursed for travel that you’ve already charged to your card.
It’s important to note that you get the best value for your points when you redeem them for travel via the À la carte Travel booking portal. When you do, your points are worth one cent each. However, if you use your points to offset a travel purchase you’ve already made, you’ll only get a value of 83 cents per point if you redeem fewer than 55,000 points or 91 cents if you redeem more than 55,000 points. For all other types of redemptions you’ll earn anywhere from 83 cents (financial rewards) to 40 cents(for statement credits).
National Bank World Elite Mastercard key benefits
- Get up to $1,460 in benefits and rewards upon enrollment*
- $150 refund per year on travel expenses like seat selection, airport parking and more
- Comprehensive insurance package
National Bank World Elite Mastercard insurance coverage
- Out-of-province emergency travel medical insurance: This covers the primary cardholder, spouse and dependent children for up to $5 million per person per trip. It also includes up to $2,000 for emergency dental treatment and up to $300 for a licensed chiropractor, physiotherapist, podiatrist, or osteopath whose services are prescribed by a doctor.
- Trip cancellation/trip interruption insurance: This covers up to $5,000 for trip interruption and $2,500 for trip cancellation per person.
- Flight delay: This covers up to a max of $500total per insured per person for things like hotel accommodation and meals.
- Delayed, lost, stolen or damaged baggage insurance: If baggage is delayed for at least 6 hours an insured can claim up to $500 per insured person for essentials like toiletries and clothing.
- Auto rental collision/loss damage insurance: This covers the full value of the vehicle for theft, loss, fire and accident damage, if the entire cost of the rental is charged to your card. This coverage has a limit of 48 days and up to up to $65,000.
- Purchase protection and extended warranty insurance: Extended warranty protection triples the manufacturer’s warranty up to 2 additional years (this is quite notable as most extended warranty protection only offers up to 12 months of additional protection). C
Extra benefits
- A $150 refund per year on travel expenses like seat selection, airport parking and more
- Complementary and unlimited access to the National Bank Lounge for you and a travel companion at Montréal-Trudeau Airport
- Compatible with Google Pay and Apple Pay
What people have to say about this card
One reddit user wonders if the card was mostly intended for users in Quebec (likely because the card’s lounge benefit is only useful at the Montreal airport). Another user praised the card’s point value of one cent when redeemed for travel.
How National Bank World Elite Mastercard compares
BMO Ascend World Elite®* Mastercard®*
4.5
up to 90K pts
Welcome offerExcellent
Suggested credit scoreGet up to 90,000 points and the annual fee waived in your first anniversary for both the primary cardholder and authorized users.*
Expires
Nov 30, 2024
Pros
-
High-value welcome offer
-
Flexible airport lounge access
-
BMO Rewards points can be used to cover flight taxes and fees
-
Great for those who frequently rent cars
-
Good for Costco and No Frills shoppers
Cons
-
So-so earn rates relative to its annual fee
-
Points have low redemption value compared to other travel rewards programs
-
Charges foreign transaction fees
-
Relatively high minimum income requirements
Eligibility
Excellent
Recommended Credit Score
$80,000
Required Annual Personal Income
$150,000
Required Annual Household Income
Recommended Credit Score
Excellent
Required Annual Personal Income
$80,000
Required Annual Household Income
$150,000
5x
Earn 5x the points for every $1 spent on eligible travel purchases*
3x
Earn 3x the points for every $1 spent on eligible dining and entertainment purchases and recurring bill payments*
1x
Earn 1 point for every $1 spent everywhere else*
4
Complimentary membership in Mastercard Travel Pass provided by DragonPass, with 4 annual complimentary passes
Earn 5x the points for every $1 spent on eligible travel purchases*
5x
Earn 3x the points for every $1 spent on eligible dining and entertainment purchases and recurring bill payments*
3x
Earn 1 point for every $1 spent everywhere else*
1x
Complimentary membership in Mastercard Travel Pass provided by DragonPass, with 4 annual complimentary passes
4
20.99%
Purchase APR
23.99%
Balance Transfer Rate 21.99% for Quebec residents
23.99%
Cash Advance APR
$150
Annual Fee first year waived
2.5%
Foreign Transaction Fee
Purchase APR
20.99%
Balance Transfer Rate
23.99%
Cash Advance APR
23.99%
Annual Fee
$150
Foreign Transaction Fee
2.5%
Pros
-
High-value welcome offer
-
Flexible airport lounge access
-
BMO Rewards points can be used to cover flight taxes and fees
-
Great for those who frequently rent cars
-
Good for Costco and No Frills shoppers
Cons
-
So-so earn rates relative to its annual fee
-
Points have low redemption value compared to other travel rewards programs
-
Charges foreign transaction fees
-
Relatively high minimum income requirements
Eligibility
Excellent
Recommended Credit Score
$80,000
Required Annual Personal Income
$150,000
Required Annual Household Income
Recommended Credit Score
Excellent
Required Annual Personal Income
$80,000
Required Annual Household Income
$150,000
5x
Earn 5x the points for every $1 spent on eligible travel purchases*
3x
Earn 3x the points for every $1 spent on eligible dining and entertainment purchases and recurring bill payments*
1x
Earn 1 point for every $1 spent everywhere else*
4
Complimentary membership in Mastercard Travel Pass provided by DragonPass, with 4 annual complimentary passes
Earn 5x the points for every $1 spent on eligible travel purchases*
5x
Earn 3x the points for every $1 spent on eligible dining and entertainment purchases and recurring bill payments*
3x
Earn 1 point for every $1 spent everywhere else*
1x
Complimentary membership in Mastercard Travel Pass provided by DragonPass, with 4 annual complimentary passes
4
20.99%
Purchase APR
23.99%
Balance Transfer Rate 21.99% for Quebec residents
23.99%
Cash Advance APR
$150
Annual Fee first year waived
2.5%
Foreign Transaction Fee
Purchase APR
20.99%
Balance Transfer Rate
23.99%
Cash Advance APR
23.99%
Annual Fee
$150
Foreign Transaction Fee
2.5%
National Bank World Elite Mastercard vs. BMO Ascend World Elite Mastercard
The BMO Ascend World Elite Mastercard offers a compelling alternative to the National Bank World Elite Mastercard. Like with the National World Elite Mastercard, the rewards program has lots of flexibility, letting you redeem points for a wide range of items, such as travel, merchandise, financial products and statement credits. You’ll earn 5 points per dollar spent on travel, 3 points per dollar on dining, entertainment, and recurring bill payments, as well as 1 point per dollar spent on all other purchases.
The card also comes with a robust insurance package that includes insurance like emergency medical, trip cancellation/trip interruption, delayed and lost baggage and more. (Note, however, that unlike the National Bank World Elite Mastercard, the BMO card does not have mobile device insurance.) The card also has perks like rental car and Cirque du Soleil discounts. With the BMO card, you’ll enjoy 4 free visits to airport lounges around the world (not just at Montreal’s main airport) with your free Dragon Pass lounge membership.
The best way to figure out which of the two cards is best for you is to compare the accelerated earn categories and see which one would add up to rewards based on your spending habits.
National Bank World Elite Mastercard vs. National Bank World Mastercard
| Features | National Bank World Elite Mastercard | National Bank World Mastercard |
|---|---|---|
| Annual fee | $150 | $115 |
| Welcome offer | Get up to $1,460 in benefits and rewards upon enrollment* | None |
| Insurance | Comprehensive and includes mobile device insurance. Industry leading purchase protection and extended warranty | Comprehensive but no mobile device insurance. Industry leading purchase protection and extended warranty |
| Benefits | $150 refund per year on travel expenses like seat selection, airport parking and more | None |
Is the National Bank World Elite Mastercard worth it?
The National Bank World Elite Mastercard is worth it if you can take advantage of the generous $150 travel reimbursement and will get regular use out of the lounge benefit at the Montréal-Trudeau Airport.
FAQs
Sandra MacGregor has been writing about finance and travel for nearly a decade. Her work has appeared in a variety of publications like the New York Times, the UK Telegraph, the Washington Post, Forbes.com and the Toronto Star.
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