A credit card that deserves to be your everyday card

Find the right match

Selecting the right credit card isn’t exactly like dating, but it’s not totally different either. We all know there are plenty of fish in the sea, but the trick is to catch the one that fits with your lifestyle and personality.

It’s the same with picking a credit card. There are hundreds of terrific cards on offer, but you won’t really be happy unless you make the right match for you. Watch out for these red flags!

Avoid cards with low earn rates or incompatible accelerated spending categories

Rewards are one of the most compelling reasons to use a credit card for your everyday spending, but not all rewards programs are created equal. Make sure you’re getting a healthy return, and double-check that the boosted spending categories match your purchasing habits. If you commute to work, for example, extra points for gas or electric vehicle (EV) charging might be a good fit.

Resist rigid redemption rules

Earning rewards points is one thing, but being able to redeem them quickly, easily, and when and for what you want is another.

With some card programs, figuring out how to redeem is a confusing headache. Others have a limited catalogue of rewards. Still others allow you to redeem only once per year rather than when you want to.

These problems can be especially apparent when it comes to travel rewards. Here, it really pays to read the fine print. Do you have to book with certain airlines? Are there blackout dates? What about other travel expenses like hotels or attractions? Look for a card with low or no restrictions.

Don’t let the wrong perks tempt you

A credit card can offer 101 perks, but they won’t do you any good unless you’ll benefit from these things. Free roadside assistance doesn’t do much for the urban transit-taker, but mobile device insurance might be a great match (who doesn’t have a cell phone these days?). Travellers should look for common credit card perks like travel and car rental insurance, lounge access and free upgrades.

Groceries, gas and travel: The National Bank World Elite Mastercard has you covered

While no card can be everything to everybody, the National Bank World Elite Mastercard comes pretty close.

This hard-working credit card offers generous earn rates of up to five points per dollar spent on restaurants and groceries, which is a significant spending category for most Canadians. The amount of points earned on these purchases depends on the total gross monthly amount charged to the credit card, regardless of the purchase category. You will earn five points for every dollar in eligible grocery and restaurant purchases until a total of $2,500 in gross monthly purchases is charged to the account. After that, you will earn two points per dollar in eligible grocery and restaurant purchases. (The total gross monthly amount is calculated based on your monthly billing period.)

Another big expense—gas or EV charging—earns two points per dollar spent, as do recurring bill payments, along with any travel booked through National Bank’s À la carte Travel service. All other purchases earn a base rate of one point per dollar, so nothing goes unrewarded.

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National Bank World Elite Mastercard

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• Annual fee: $150
• Interest rates: 20.99% on purchases, 22.49% balance transfers and cash advances
• Earn rate: Up to 5 points per $1 on grocery and restaurant purchases; 2 points per $1 on gas, EV charges, recurring bill payments and travel booked through À La Carte Rewards; and 1 point per $1 on all other purchases.
• Welcome offer: Earn up to 40,000 points.
• Annual income requirement: Personal income of $80,000 or household income of $150,000

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Redeeming your rewards points

Redemptions with the National Bank World Elite Mastercard are easy. You can use your points to shop for whichever rewards best suit you. Visit the online boutique and choose from merchandise, gift cards or travel, or invest your points in your National Bank of Canada TFSA and/or RRSP. You can also apply points to your credit card balance or National Bank of Canada mortgage. It’s quick, easy and all in one place.

When it comes to perks, the National Bank World Elite Mastercard has the bases covered. Travellers will love the included travel and car rental insurance, and unlimited access to the National Bank Lounge at Montréal-Trudeau Airport for international flights. Plus, there’s an annual travel credit of up to $150 that you can apply to eligible expenses including seat selection, seat upgrades, airport parking, extra checked bags and airport lounge access.

Other benefits include mobile device insurance and extended manufacturer’s warranty, so you’ll be covered for longer on virtually anything you buy with the card. (See all terms and conditions.)

The right credit card offers convenience, security and benefits you can use. Consider the National Bank World Elite Mastercard as your everyday card.

More about credit cards:

• Applying for a credit card: What you need to know
• Your new travel companion: A credit card with perks at home and abroad
• Is food inflation squeezing your budget? Credit card rewards can help manage costs
• How to use your credit card responsibly

_{® Mastercard and World Elite are registered trademarks, and the circles design is a trademark of Mastercard International Incorporated. Authorized user: National Bank.
® National Bank and À la carte rewards are registered trademarks of National Bank of Canada.} 

About Keph Senett

Keph Senett writes about personal finance through a community-building lens. She seeks to make clear and actionable knowledge available to everyone.