National Bank World Elite Mastercard

Last updated: September 1, 2022
  • Up to 2% Cash back
  • $250 First-year value
Annual fee:
$150
Earning rate:
5 points per dollar spent on food
2 points per dollar spent on gas and recurring purchases
1 point per dollar spent everywhere else
Perks & benefits:
$150 annual travel credit
Complementary access to the National Bank Lounge at YUL
Insurance:
Very strong

The National Bank World Elite Mastercard is an excellent card for travel insurance, in a class of its own. With annual credits to offset the annual fee, it’s a great premium keeper card for paying the taxes and fees on award ticket bookings.

This card will especially be of interest to the elderly or anyone who enjoys longer trips, for its generous emergency medical coverage.

Bonuses & Fees

Currently, the card isn’t offering a welcome bonus.

In the past, the card has offered $300 cash back upon spending $4,000 on the card within three months, sometimes with a first year annual fee waiver. If you’re interested in the card, it would be better to wait for a welcome bonus to make an appearance before you apply.

The card has an annual fee of $150. There is a $50 fee for each authorized user added to your account.

Earning Rewards

The National Bank World Elite Mastercard has a rewards structure that varies based on the amount of money you’ve spent on the card:

  • Earn 5 points per dollar spent on groceries and restaurant purchases
  • Earn 2 points per dollar spent on gas, electric vehicle charging, recurring bills, and travel booked through A la carte Travel
  • Earn 1 points per dollar spent on all other purchases

If your total gross monthly amount of purchases (regardless of category) are under $2,500, the 5x multiplier on groceries and restaurant purchases will apply. However, if your purchases in one month exceed $2,500 the earning rate on those food purchases will be at 2 points per dollar.

Redeeming Rewards

National Bank’s points, À la carte Rewards, can be redeemed through their online travel booking portal. You can book travel, or redeem points for statement credit against travel expenses booked directly.

Points have a fixed value of 1 cent per point.

À la carte Rewards never expire as long as you remain a cardholder.

Perks & Benefits

The card provides a $150 annual travel credit, which can be applied to a range of travel expenses:

  • Airport parking
  • Baggage fees
  • Seat selection
  • Airport lounge access
  • Airline ticket upgrades

These credits renew every year on January 1. Unused credits do not carry over.

Cardholders also have unlimited access to the National Bank Lounge at Montréal-Trudeau Airport, for themselves plus one complementary guest per visit. The lounge is available for passengers departing from the international terminal.

Insurance Coverage

The National Bank World Elite Mastercard provides outstanding insurance coverage.

In particular, the card can be used for insurance on award tickets. Coverage is valid for trip cancellation, trip interruption, or flight delays, as long as the ticket was paid at least in part on the card.

The card also offers fantastic emergency medical insurance when travelling. Cardholders are covered for up to $5,000,000 in damages, for trips up to 60 days, up to age 75.

  • Age 54 and under: trips up to 60 days
  • Age 55 to 64: trips up to 31 days
  • Age 65 to 75: trips up to 15 days

Likewise, the card’s car rental insurance grants coverage for longer rentals: up to 48 days, which is longer than the industry standard.

Additionally, the card has industry-leading purchase protection. The extended warranty and purchase protection periods are double what many competitors offer, with up to 2 additional years for extended warranty and up to 180 days of protection against stolen or damaged merchandise.

As of September 1, 2022, mobile device insurance is now a benefit of the card as long as it’s charged to the card, with coverage up to $1,000 in the event of breakage, loss, or theft for up to two years after the purchase date.

Apply Now

As a World Elite product, this credit card has a minimum annual income requirement of $80,000 (individual) or $150,000 (household).

Follow the link below to the National Bank website to learn more about this card and submit an application.

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