Quick overview of the National Bank World Mastercard
When it’s got “World” in its name, you know it’s for the travellers, and that’s precisely who the National Bank World Mastercard is targeting. In truth, this card is a bit of an oddball (for reasons we’ll get into below) but it does have a few perks that may tempt the traveller interested.
For one, it’s got really great travel insurance across the board, giving comprehensive coverage in most categories you’d care about. You also earn (or well, kinda, under certain circumstances) 2x points per dollar spent, if you abide by the weird tier system National Bank straps to this card.
But the downsides are pretty evident. First – no welcome bonus. Zilch, squat, nada. And, I mean, if the card had no fee, so what? But the National Bank World Mastercard is actually $115 per year, which may be just a bit steep for those with travel in mind. All things considered, is this card right for you? Let’s dive into the details.
Who’s the National Bank World Mastercard for?
If you’re a travel fan who’s not looking for an immediate boost of points, but rather wants to collect for a trip down the road, this card may be for you – especially if you’re travelling to a place where having comprehensive insurance is a good idea.
Also, if comprehensive insurance is important to you (or you're a traveller over 65) the National Bank World Mastercard may be what you’re after.
Pros and cons
Pros
-
Up to 2x points per dollar spent
-
Great insurance – especially for senior travellers
-
Decent travel redemptions and bonuses through National Bank
Cons
-
A relatively high annual fee for what you get
-
No welcome bonus 🙁
-
Complicated tier structure for point earning
-
Relatively prohibitive income requirements
National Bank World Mastercard welcome bonus
- There’s no welcome bonus, unfortunately
How to earn points with the National Bank World Mastercard
Okay, so – remember that complicated tier system I mentioned in the cons list above? Well, here’s how it shakes out.
If you spend between $0 to $20,000 you’ll earn 1.25 points per $1 spent. Clear so far? But, if you spend between $20,001 to $30,000, you’ll earn two points per dollar. “Oh cool,” you may be saying. “Does the point multiplier scale with spend?” No.
Annual spending over $30,001 drops back down to 1.25 points per $1. So the sweet spot is spending quite a lot on your card, but not too much. This definitely has to be one of the few instances where you are disincentivized from spending as much as possible on a credit card.
How to redeem points on the National Bank World Mastercard
Like most points cards, there’s a whole suite of ways to spend the points you earn on your National Bank World Mastercard. But, unlike other cards, the value of your points swings pretty dramatically depending on how you use them.
The absolute best bang for your buck is redeeming your points for travel through the National Bank platform. Assuming you spend around $2,000 per month, you could earn about $350 towards travel this way. The value drops if you don’t go through National Bank directly to less than $300.
Statement credits are the worst value, falling short of $150 in value by the same metrics. One cool way to use your points is turning them into investments through National Bank, netting you just shy of $300 in value. This novel perk might appeal to the super savers out there (although, as an ostensible travel card, this may have overly niche appeal).
Key National Bank World Mastercard benefits
- Solid discounts for travel redemption through National Bank
- Excellent insurance coverage
- Superb extended warranty
National Bank World Mastercard insurance coverage
- Purchase protection: In the event of theft or damage, National Bank has you covered for 180 days following purchases made on the World Mastercard
- Extended warranty: They’re fond of bandying around the phrase “triple your manufacturer warranty,” but National Bank only extends it to a maximum of 2 years
- Trip cancellation: You’re covered up to $2,500per person
- Trip interruption: This is pretty stellar – trips purchased on this card are covered up to $5,000per person in the event of interruption
- Emergency medical: Coverage is offered up to $5 million per person, with terms ranging dependent on age: 54 and under = 60 days; 55-64 = 31 days; 65 to 75 = 15 days (unusually generous for senior travellers)
- Flight delay: Up to $500 per person if the delay is over four hours
- Baggage delay: Up to $500 per person if your bags are delayed over six hours
- Baggage lost/stolen: Coverage up to $1,000
- Vehicle rental: $65,000 protection for collision, theft or other damage.
Extra benefits
- While not exactly swimming in perks, the travel discounts through National Bank and the ability to invest your points, stand out
What people have to say about this card
Unfortunately, there hasn’t been much to be said about this card on the interwebs. Is it because there’s not much to say, or is it because the demographic for this card caters to an older generation that’s not too keen on posting on social media or Reddit?
How National Bank World Mastercard compares
RBC ION+ Visa
3.2
up to 7K pts
Welcome offerGood
Suggested credit scoreGet 3,500 Welcome Points on approval and earn 3,500 bonus points when you spend $500 in your first 3 months.^ Apply by January 15th, 2025.
Expires
Jan 15, 2025
The RBC ION+ isn’t exactly a flashy card, but it collects Avion points (which are devalued because it’s an ION card) that are generally pretty good for travel. I’d probably lean towards the National Bank World Mastercard in this comparison, but if the annual fee scares you off and you’re still interested in collecting travel points, the RBC ION+ is worth considering.
Pros
-
Decent rewards rate in everyday spending categories.
-
Low monthly fee, (rebated for students with the no-monthly fee RBC Advantage Banking account).
-
Perks like mobile device insurance and fuel savings at Petro-Canada.
Cons
-
Complex rewards structure with less valuable Avion points in the ION tier.
-
Limited insurance benefits (but you can pay to add-on travel insurance).
Eligibility
Good
Recommended Credit Score
Recommended Credit Score
Good
3
Avion points† per $1 on qualifying grocery, dining, food delivery, gas, rideshare, public transit, EV charging, streaming, digital gaming and online subscriptions
1
Avion point per $1 on all other purchases
Avion points† per $1 on qualifying grocery, dining, food delivery, gas, rideshare, public transit, EV charging, streaming, digital gaming and online subscriptions
3
Avion point per $1 on all other purchases
1
20.99%
Purchase APR
22.99%
Balance Transfer Rate
22.99%
Cash Advance APR 21.99% for residents of Quebec
$48
Annual Fee $4 per month
2.5%
Foreign Transaction Fee 2.5% of the transaction in CDN
Purchase APR
20.99%
Balance Transfer Rate
22.99%
Cash Advance APR
22.99%
Annual Fee
$48
Foreign Transaction Fee
2.5%
The RBC ION+ isn’t exactly a flashy card, but it collects Avion points (which are devalued because it’s an ION card) that are generally pretty good for travel. I’d probably lean towards the National Bank World Mastercard in this comparison, but if the annual fee scares you off and you’re still interested in collecting travel points, the RBC ION+ is worth considering.
Pros
-
Decent rewards rate in everyday spending categories.
-
Low monthly fee, (rebated for students with the no-monthly fee RBC Advantage Banking account).
-
Perks like mobile device insurance and fuel savings at Petro-Canada.
Cons
-
Complex rewards structure with less valuable Avion points in the ION tier.
-
Limited insurance benefits (but you can pay to add-on travel insurance).
Eligibility
Good
Recommended Credit Score
Recommended Credit Score
Good
3
Avion points† per $1 on qualifying grocery, dining, food delivery, gas, rideshare, public transit, EV charging, streaming, digital gaming and online subscriptions
1
Avion point per $1 on all other purchases
Avion points† per $1 on qualifying grocery, dining, food delivery, gas, rideshare, public transit, EV charging, streaming, digital gaming and online subscriptions
3
Avion point per $1 on all other purchases
1
20.99%
Purchase APR
22.99%
Balance Transfer Rate
22.99%
Cash Advance APR 21.99% for residents of Quebec
$48
Annual Fee $4 per month
2.5%
Foreign Transaction Fee 2.5% of the transaction in CDN
Purchase APR
20.99%
Balance Transfer Rate
22.99%
Cash Advance APR
22.99%
Annual Fee
$48
Foreign Transaction Fee
2.5%
CIBC Aeroplan® Visa Infinite* Card
4.5
up to 40K pts
Welcome offerVery Good
Suggested credit scoreJoin and get up to $1,100 in value in your first year!†
This isn’t even a competition. With a barely more expensive annual fee, a decent welcome bonus and decent Aeroplan point collecting to boot, the CIBC Aeroplan Visa card is strictly better in most ways than the National Bank World Mastercard. The one thing to consider is the far better insurance coverage offered by National Bank relative to the CIBC card.
Pros
-
Earn up to 40,000 bonus Aeroplan points in the first year
-
Earn up to 1.5 Aeroplan points on purchases
-
Free checked bags on Air Canada flights
-
Special pricing on Aeroplan flight rewards
-
Includes travel insurance
Cons
-
High income requirement of either $60,000 personal or $100,000 household
-
Rewards go furthest when redeeming for Air Canada flights, so that can limit your travel options
Eligibility
Very Good
Recommended Credit Score
$60,000
Required Annual Personal Income
$100,000
Required Annual Household Income
Recommended Credit Score
Very Good
Required Annual Personal Income
$60,000
Required Annual Household Income
$100,000
1.5 pts
for every $1 you spend on eligible gas, electric vehicle charging, groceries and with Air Canada directly, including through Air Canada Vacations®
1 pt
for every $1 you spend on all other purchases.
2x
Earn points twice at over 150 Aeroplan partners and more than 170 online retailers through the Aeroplan eStore.
for every $1 you spend on eligible gas, electric vehicle charging, groceries and with Air Canada directly, including through Air Canada Vacations®
1.5 pts
for every $1 you spend on all other purchases.
1 pt
Earn points twice at over 150 Aeroplan partners and more than 170 online retailers through the Aeroplan eStore.
2x
20.99%
Purchase APR non-Quebec residents†
22.99%
Balance Transfer Rate 21.99% for Quebec residents
22.99%
Cash Advance APR 21.99% for Quebec residents
$139
Annual Fee Free with CIBC Smart Plus™ Account. $50 for each additional card (up to 3).
2.5%
Foreign Transaction Fee 2.5% of the transaction in CDN
Purchase APR
20.99%
Balance Transfer Rate
22.99%
Cash Advance APR
22.99%
Annual Fee
$139
Foreign Transaction Fee
2.5%
This isn’t even a competition. With a barely more expensive annual fee, a decent welcome bonus and decent Aeroplan point collecting to boot, the CIBC Aeroplan Visa card is strictly better in most ways than the National Bank World Mastercard. The one thing to consider is the far better insurance coverage offered by National Bank relative to the CIBC card.
Pros
-
Earn up to 40,000 bonus Aeroplan points in the first year
-
Earn up to 1.5 Aeroplan points on purchases
-
Free checked bags on Air Canada flights
-
Special pricing on Aeroplan flight rewards
-
Includes travel insurance
Cons
-
High income requirement of either $60,000 personal or $100,000 household
-
Rewards go furthest when redeeming for Air Canada flights, so that can limit your travel options
Eligibility
Very Good
Recommended Credit Score
$60,000
Required Annual Personal Income
$100,000
Required Annual Household Income
Recommended Credit Score
Very Good
Required Annual Personal Income
$60,000
Required Annual Household Income
$100,000
1.5 pts
for every $1 you spend on eligible gas, electric vehicle charging, groceries and with Air Canada directly, including through Air Canada Vacations®
1 pt
for every $1 you spend on all other purchases.
2x
Earn points twice at over 150 Aeroplan partners and more than 170 online retailers through the Aeroplan eStore.
for every $1 you spend on eligible gas, electric vehicle charging, groceries and with Air Canada directly, including through Air Canada Vacations®
1.5 pts
for every $1 you spend on all other purchases.
1 pt
Earn points twice at over 150 Aeroplan partners and more than 170 online retailers through the Aeroplan eStore.
2x
20.99%
Purchase APR non-Quebec residents†
22.99%
Balance Transfer Rate 21.99% for Quebec residents
22.99%
Cash Advance APR 21.99% for Quebec residents
$139
Annual Fee Free with CIBC Smart Plus™ Account. $50 for each additional card (up to 3).
2.5%
Foreign Transaction Fee 2.5% of the transaction in CDN
Purchase APR
20.99%
Balance Transfer Rate
22.99%
Cash Advance APR
22.99%
Annual Fee
$139
Foreign Transaction Fee
2.5%
National Bank World Elite® Mastercard®
4.0
Very Good
Suggested credit scoreGet up to $1,460 in benefits and rewards upon enrollment*
The National Bank World Elite is just that – it’s the elite version of the stock-standard version, and with that comes a delightful 40k point welcome bonus. All that, and it only costs slightly more than its little sibling. Given it has the same incredible insurance offerings (and a handful of other perks), I think the additional cost is absolutely justified. Spring for the Elite, if you’re going for a National Bank World Mastercard at all.
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
Eligibility
Very Good
Recommended Credit Score
$80,000
Required Annual Personal Income
$150,000
Required Annual Household Income
Recommended Credit Score
Very Good
Required Annual Personal Income
$80,000
Required Annual Household Income
$150,000
5 points
for every dollar spent at grocery stores and restaurants
2 points
for every dollar spent on gas, EV charging, recurring bill payments and A la carte travel
1 point
for every dollar spent on all other purchases
$5,000,000
Maximum for the out-of-province-of-residence emergency medical coverage for up to 60 days
for every dollar spent at grocery stores and restaurants
5 points
for every dollar spent on gas, EV charging, recurring bill payments and A la carte travel
2 points
for every dollar spent on all other purchases
1 point
Maximum for the out-of-province-of-residence emergency medical coverage for up to 60 days
$5,000,000
20.99%
Purchase APR
22.49%
Balance Transfer Rate
22.49%
Cash Advance APR
$150
Annual Fee
2.5%
Foreign Transaction Fee 2.5% of the transaction in CDN
Purchase APR
20.99%
Balance Transfer Rate
22.49%
Cash Advance APR
22.49%
Annual Fee
$150
Foreign Transaction Fee
2.5%
The National Bank World Elite is just that – it’s the elite version of the stock-standard version, and with that comes a delightful 40k point welcome bonus. All that, and it only costs slightly more than its little sibling. Given it has the same incredible insurance offerings (and a handful of other perks), I think the additional cost is absolutely justified. Spring for the Elite, if you’re going for a National Bank World Mastercard at all.
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
Eligibility
Very Good
Recommended Credit Score
$80,000
Required Annual Personal Income
$150,000
Required Annual Household Income
Recommended Credit Score
Very Good
Required Annual Personal Income
$80,000
Required Annual Household Income
$150,000
5 points
for every dollar spent at grocery stores and restaurants
2 points
for every dollar spent on gas, EV charging, recurring bill payments and A la carte travel
1 point
for every dollar spent on all other purchases
$5,000,000
Maximum for the out-of-province-of-residence emergency medical coverage for up to 60 days
for every dollar spent at grocery stores and restaurants
5 points
for every dollar spent on gas, EV charging, recurring bill payments and A la carte travel
2 points
for every dollar spent on all other purchases
1 point
Maximum for the out-of-province-of-residence emergency medical coverage for up to 60 days
$5,000,000
20.99%
Purchase APR
22.49%
Balance Transfer Rate
22.49%
Cash Advance APR
$150
Annual Fee
2.5%
Foreign Transaction Fee 2.5% of the transaction in CDN
Purchase APR
20.99%
Balance Transfer Rate
22.49%
Cash Advance APR
22.49%
Annual Fee
$150
Foreign Transaction Fee
2.5%
| Features | National Bank World Mastercard | National Bank World Elite Mastercard |
|---|---|---|
| Annual fee | $115 | $150 |
| Welcome offer | N/A | Get up to $1,460 in benefits and rewards upon enrollment* |
| Insurance | Comprehensive insurance | Comprehensive insurance |
| Benefits | Great extended warranty | Great extended warranty |
| Review link | You’re reading it | National Bank World Elite Mastercard review |
Is the National Bank World Mastercard worth it?
If you’re looking for a daily spender with great insurance for travel (especially if you’re over 65) then, well, maybe. But in almost every other conceivable way, this card falls short of its competitors, especially in the “over $100 annual fee” category. If you just need a National Bank card, spring for $35 more a year and upgrade to the Elite version, which at the very least has a welcome bonus structure.
National Bank World Mastercard eligibility criteria
- Personal income of $50,000 per year or household income of $80,000
- Alternatively, assets worth $250,000 or, for existing customers, $15,000 in yearly minimum purchases on a National Bank card
FAQs
Cam is a content marketer with a passion for saving, financial independence, and pulling off elaborate credit card point schemes. He has worked in Fintech and Finserve (specifically Group Retirement) and loves researching and writing about finance.
Compare other travel credit cards
Compare other popular Canadian credit cards
Compare other popular Canadian credit cards
Latest Articles
Disclaimer
The content provided on Money.ca is information to help users become financially literate. It is neither tax nor legal advice, is not intended to be relied upon as a forecast, research or investment advice, and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy. Tax, investment and all other decisions should be made, as appropriate, only with guidance from a qualified professional. We make no representation or warranty of any kind, either express or implied, with respect to the data provided, the timeliness thereof, the results to be obtained by the use thereof or any other matter. Advertisers are not responsible for the content of this site, including any editorials or reviews that may appear on this site. For complete and current information on any advertiser product, please visit their website.