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Find out if recent changes improve this champion travel credit card in our National Bank World Elite Mastercard review.
National Bank’s World Elite Mastercard has long earned accolades for its included insurance, robust points program and unique and valuable perks, making it a solid choice as a travel card. With the fall 2022 restructuring of its rewards program and other adjustments affecting insurance and the reimbursement of travel expenses, it’s time to revisit the card to see if it’s still a great pick.
We’ll get into the details below in our National Bank World Elite Mastercard review, but here are some highlights. This card still offers one of the very best travel insurance packages on the market—particularly for the hard-to-insure older market between 65 and 75 years old. The points program has been simplified, making rewards redemption easier, and you can still use your points toward a wide variety of options, from statement credits to travel. And speaking of travel, this card still gets you exclusive benefits like free airport lounge stays (at Montréal-Pierre Elliott Trudeau International Airport only) and annual rebates on travel expenses.
Annual fee: $150
Welcome offer: Earn up to 40,000 points.
Card details
| Interest rates | 20.99% on purchases, 22.49% on cash advances, 22.49% on balance transfers |
| Income required | Personal income of $80,000 or household income of $150,000 |
| Credit score | 760 or higher |
| Point value | 1 point is worth $0.01 when redeeming using National Bank’s À La Carte Rewards Plan. |
We take a close look at the new National Bank World Elite Mastercard and weigh the pros and cons to see whether it’s a top-tier travel rewards credit card.
When you use your National Bank World Elite Mastercard, you earn rewards points to redeem for a variety of rewards including gift cards, statement credits, merchandise, experiences, travel or even investments in your registered retirement savings plan (RRSP) or tax-free savings account (TFSA) at National Bank of Canada.
Redemptions are dead simple. Once you’ve accumulated enough rewards points for your desired reward, visit the National Bank online rewards boutique. There, you can browse or search for your item and redeem your points.
You can take advantage of National Bank travel rewards in two ways. Book your trip using your points on the À la carte Travel Agency, or redeem points against travel expenses already charged to your card. Either way, you can use your rewards points.
If the National Bank World Elite Mastercard piques your interest, it’s worth comparison shopping. (Check out our full list of “Best credit cards in Canada.”)
With its rewards program and included insurance, the Scotiabank Gold American Express is a solid alternative. This card charges no foreign exchange fee, which could save you 2.5% to 3% on purchases made in another currency.
Annual fee: $120
Welcome offer: Earn up to $950 in value in the first 12 months, including up to 45,000 bonus Scene+ points. Offer ends Dec. 31, 2024.
Card details
| Interest rates | 20.99% on purchases, 22.99% on cash advances, 22.99% on balance transfers |
| Income required | $12,000 per year |
| Credit score | 725 or higher |
| Point value | 1 Scene+ point = $0.01 when redeemed for travel on any airline or hotel (including Airbnbs). |
The TD First Class Travel Visa Infinite is not only a strong rewards card in terms of travel insurance, but it also gets you a 4.5% rate of return on travel spending. Other travel-related perks like a discount on lounge access round out the package.
Annual fee: $139 (waived first year)
Welcome offer: Earn up to $1,000 in value, including up to 135,000 TD Rewards points and no annual fee for the first year. Conditions apply. Account must be approved by January 6, 2025.
Card details
| Interest rates | 20.99% on purchases, 22.99% on cash advances, 22.99% on balance transfers |
| Income required | Personal income of $60,000 or household income of $100,000 |
| Credit score | 680 or higher (recommended) |
| Anniversary bonus | Earn an annual birthday bonus of 10% of your previous year’s points (up to 10,000 points). |
| Point value | 1 TD Rewards point = $0.005 when redeemed for travel via Expedia For TD or $0.004 when redeemed through other providers and websites. |
When it comes to included insurance, the Cobalt turns heads with up to $5 million in travel emergency medical, $250,000 of travel accident coverage, flight and baggage delay, lost or stolen luggage, up to $500 in hotel burglary protection, and up to $85,000 in car rental theft and damage coverage. One thing to note is that as an American Express card, it won’t be as widely accepted as Visa cards or Mastercards.
Annual fee: $156
Welcome offer: earn 1,250 points for each month you spend $750, up to a maximum of 15,000 points.
Card details
| Interest rates | 21.99% on purchases, 21.99% on cash advances |
| Income required | None specified |
| Credit score | 725 or higher |
| Point value | 1 Amex Membership Rewards point = $0.01 when redeemed with the Flexible Points Travel Program, $0.015 on average with the Fixed Points Travel Program, and up to $0.02 with airline points transfers. |
Back to the National Bank World Elite Mastercard. This credit card has a lot going for it, including an excellent insurance package, boosted earn rates and travel rebates. However, the $150 annual fee is a touch higher than those of other cards in its category, which makes room for other contenders.
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National bank have special perks for Engineers. Since I’m a professional engineer bank waived the yearly fee making it a no fee card. It’s an unbeatable card in my situation with all the premium card benefits and no annual fee.
Hope it may help others in the same field …
I have NBC world elite card and the $150 annual fee waived with NBC’s unique “Professionals Package”. I’m a Professional Engineer. It’s a good card. That’s the only reason I got this card since I don’t have to pay the yearly $150 and I can use it in Costco.
Cons is their customer service. NBC not alone in this regard. Every other card issuers in Canada have the same problem.
Without good customer service it doesn’t matter what the perks and earn rates are.
If card issuers can’t provide customer service when I stranded, especially, when I’m traveling I won’t keep that card.
This is where Amex cobalt is the king of card because Amex exceptional around the clock customer service. I wouldn’t leave home without Amex in my wallet. I may even forget my drive license but not Amex.
It would have been a perfect card if lower annual fee and or Forex.