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National Bank World Elite Mastercard

Last updated: April 13, 2021
  • $300 Cash back
  • $460 First-year value
Best offer is available publicly until April 30, 2021
Signup bonus:
$300 cash back upon spending $4,000 in the first three months
Annual fee:
$150
Earning rate:
1.5 points per dollar spent
2 points per dollar spent when you spend $40,001–$80,000 per year
Perks & benefits:
$250 annual travel credit for specific add-ons
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

The card offers $300 cash back upon spending $4,000 on the card within three months. The bonus is paid as cash back, although everyday spending on the card earns À la carte Rewards points.

Oddly, the three-month period doesn’t begin until the calendar month after the account is opened. For example, if you apply and are approved any time in January, your window to meet the minimum spend requirement would be February 1 through April 30. Any purchases in January wouldn’t count, and would simply earn everyday rewards.

This welcome offer is available until April 30, 2021.

The card has an annual fee of $150. Occasionally this fee is waived for the first year, but currently it is charged.

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 1.5 points per dollar spent on the first $40,000 spent per year
  • Earn 2 points per dollar spent when you spend $40,001 to $80,000 per year
  • Earn 1.5 points per dollar spent when you spend over $80,000 per year

The sweet spot is at $80,000 per year. At that rate, the average return on every dollar spent up to that point would be 1.75%.

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 $250 annual travel credit, split into three parts:

  • $100 for airport parking
  • $100 for baggage fees
  • $50 for seat selection fees

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.

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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