The Cathay World Elite® Mastercard® – powered by Neo is the only credit card in Canada that directly earns Asia Miles. If you're loyal to Cathay Pacific, this card will help pad your Asia Miles balance and can also help you score a discount on flights.

Bonuses & Fees

Presently, the Cathay World Elite® Mastercard® – powered by Neo offers up to 27,000 Asia Miles as its welcome bonus, structured as follows:

• 7,000 Asia Miles upon activating the card†
• 20,000 Asia Miles upon spending $5,000 in the first three months†

The card has an annual fee of $180, which isn't rebated or waived with the current offer.

Earning Rewards

In terms of the returns on everyday spending, the Cathay World Elite® Mastercard® – powered by Neo has the following earning rates:

• 2 Asia Miles per dollar spent on Cathay Pacific flights†
• 2 Asia Miles per dollar spent in foreign currencies†
• 1 Asia Mile per dollar spent elsewhere†

Furthermore, you can benefit from elevated earning rates when you use your card at Neo's exclusive partners. However, the earning rates aren't publicly disclosed, they vary over time and locations, and you'll only see them once you're a cardholder. However, you can get an idea of the earning rates by creating a free Neo profile and then exploring partner offers through the app or in your browser. While the exact Asia Miles earning rates won't be listed, it should give you a rough idea of the businesses that offer elevated earning rates. It's worth noting that this card features foreign transaction fees, which means that you'll pay an additional 2.5% for transactions in currencies other than Canadian dollars. This eats into the value from the elevated earning rate of 2 Asia Miles per dollar spent, and you may want to use a card with no foreign transaction fees instead.

Redeeming Rewards

Cathay Pacific Asia Miles is the loyalty program for Hong Kong-based Cathay Pacific. Through the program, you can book flights with Cathay Pacific, as well as other oneworld airlines and independent airlines. Booking flights with Asia Miles is subject to distance-based charts. You'll pay more as you fly longer distances, and in higher classes of service. In Canada, Cathay Pacific flies to Vancouver and Toronto. To book a flight between Vancouver and Hong Kong, you can expect to find the following prices:

• Economy: 27,000 Asia Miles
• Premium economy: 50,000 Asia Miles
• Business class: 84,000 Asia Miles

Meanwhile, to book a flight from Toronto to Hong Kong, you can expect to find the following prices:

• Economy: 38,000 Asia Miles
• Premium economy: 75,000 Asia Miles
• Business class: 110,000 Asia Miles

Otherwise, the best uses of Asia Miles are for short-haul flights within Asia, having greater access to Cathay Pacific award flights, and booking transatlantic flights with oneworld partners.

Perks & Benefits

Until December 31, 2024, the Cathay World Elite® Mastercard® – powered by Neo offers cardholders a 10% discount on Cathay Pacific flights. Head to the offer's landing page to learn more, and to read the terms and conditions. Otherwise, the card doesn't offer any unique benefits for Cathay Pacific flights that aren't available to anyone who's an Asia Miles member. As a World Elite® Mastercard® product, you can enjoy the following perks:

• Paid lounge access ($32 USD per visit) through Mastercard Travel Pass, powered by DragonPass

You'll also enjoy a virtual card, which you can begin using as soon as you've been approved.

Insurance Coverage

When it comes to insurance, the Cathay World Elite® Mastercard® – powered by Neo has the same suite of insurance provided on other Neo products. Notably, the insurance doesn't apply for award tickets. Therefore, if you'd like to be covered for an Asia Miles booking, you'll want to use a credit card that provides insurance on award bookings instead. The insurance provided on the Cathay World Elite® Mastercard® – powered by Neo is as follows:

• Emergency medical insurance: up to $1 million for trips of up to 14 days, for those aged 60 and younger.
• Trip interruption: up to $1,000 per person, up to $5,000 per trip
• Trip cancellation: up to $1,000 per person, up to $5,000 per trip
• Flight delay: up to $500
• Lost/delayed baggage: up to $1,000 for delays of six hours or longer
• Auto rental collision/damage: up to 48 consecutive days, MSRP of up to $65,000
• Hotel/motel burglary insurance: up to $1,000
• Purchase protection: 90 days from date of purchase
• Extended warranty: doubles the manufacturer's warranty, up to one additional year

As always, be sure to read the insurance certificates to understand if they apply in your unique situation, and contact the insurer with any questions about coverage.