National Bank World Elite® Mastercard® Review

The National Bank World Elite Mastercard blends rewards on everyday spending categories with comprehensive travel benefits and coverage. 

As a result, this credit card caters to those who like to earn points while running their daily errands and those who ultimately want to use those same points towards their next trip.

This trip in question is also benefitted by tons of insurance (including trip interruption and trip cancellation insurance) and perks (like airport lounge access and a travel credit).

To learn more about this premium travel-oriented option, plus similar cards worth considering, take a look at this informative review.

How You Earn Rewards with the National Bank World Elite Mastercard

Let’s hone in on those everyday spend categories we mentioned in the intro. Here are the types of purchases that will earn you points with the National Bank World Elite Mastercard:

• 5x points per $1 spent on eligible grocery and restaurant purchases
• 2x points per $1 spent on eligible gas, electric vehicle charging, recurring bills, and travel booked through À La Carte Rewards
• 1x point per $1 spent on all other purchases

Overall, this card will be the most lucrative when it comes to fulfilling your grocery list and the urge to dine out, but it will also earn you solid points at certain gas pumps, charging stations, plus on monthly payments, and À La Carte Rewards vacation bookings – making it an extremely versatile addition to your wallet.

Redeeming your Rewards with the National Bank World Elite Mastercard

After you tap into all those points, you’ll want to know the best ways to redeem them.

Here’s a breakdown of the National Bank World Elite Mastercard’s redemption categories, ranked of course from most valuable to least valuable:

• Travel through À La Carte: when you redeem your points towards eligible flights or vacation packages through À La Carte Travel.
• Travel: when you redeem your points towards travel expenses through any eligible booking platform.
• Financial products: if you use your points towards eligible financial products like loan repayments or mortgage repayments.
• Gift cards: when you use your points to purchase eligible gift cards.
• Statement credits: redeeming your points as cash towards your credit card statement balance.

As you’ll see from this ranking, the best way to redeem your National Bank World Elite Mastercard points is through travel.

4 Benefits of the National Bank World Elite Mastercard

What better way to determine whether a credit card is right for you than to review its benefits?

Here are some of the perks that might make the National Bank World Elite Mastercard worth it to you:

High Earn Rates for Foodies

These earn rates are so good, we have to mention them twice. The National Bank World Elite Mastercard earns you competitive points on eligible grocery and restaurant purchases. 

So whether you make your meals at home or tend to dine out on the town, you’ll earn tons of points with every tap.

Comprehensive Insurance Coverage

Another feature of the National Bank World Elite Mastercard that makes it so travel-friendly is that it comes with a whopping 10 insurance coverage categories.

These comprehensive categories cover everything from trip interruption and cancellation insurance to flight and baggage delay to emergency medical over 65 coverage.

Even the not-so-explicitly-travel-oriented categories like mobile device insurance are a major plus!

The Annual Travel Credit

Every year, the National Bank World Elite Mastercard refunds you $150 towards your travel expenses.

These expenses might include:

• Seat selection
• Airport parking
• Baggage fees
• Airline ticket upgrades
• Lounge fees

To acquire this credit, however, cardholders will need to submit a claim that documents all eligible expenses within 60 days of the purchase date. The purchase must also be made using a National Bank World Elite Mastercard with an account that’s in good standing. If the claim is approved, you can expect to pocket your travel credit within 7 business days.

But wait, there’s more…

Considering the value of the credit is $150 and the National Bank World Elite Mastercard’s annual fee is $150, this credit essentially offsets the annual cost of the card as long as you use it to your full advantage.

Unlimited Airport Lounge Access

Airport lounge access is one thing, but unlimited airport lounge access is another.

National Bank World Elite Mastercard cardholders will also benefit from unlimited access to the National Bank Lounge at Montreal-Trudeau Airport. 

To gain entry, all you’ll need to do is present your physical National Bank World Elite Mastercard and eligible boarding pass to the National Bank Lounge reception. Unlimited complimentary entry is granted to both the cardholder and a guest, plus two children aged 12 or under.

Keep in mind that you can only reap the luxuries of this lounge if you’re travelling to international destinations (meaning flights outside of Canada and the U.S.).

4 Downsides of the National Bank World Elite Mastercard

As with any card, there are a couple of downsides to the National Bank World Elite Mastercard, let’s take a look at those now:

High Income Requirements

Unfortunately, this credit card isn’t exactly accessible to all. The National Bank World Elite Mastercard requires applicants to have a personal income of $80,000 or a household income of $150,000 – which can be pretty steep for some!

No Trip Accident Insurance

Oddly enough, the National Bank World Elite Mastercard doesn't come with trip accident insurance. This is a bit disappointing since typically all cards with comprehensive travel insurance include this type if insurance (s0me of which you'll see in our comparison section below).

Limited Lounge Access

While it's always nice to have some sort of lounge access included on a travel credit card, the National Bank World Elite Mastercard's lounge access is quite limited. For instance, you can only take advantage of this complimentary lounge access if you depart from Montreal and if you're travelling internationally. If you're not taking off from Montreal, or you are but you're flying domestically, then the lounge access is actually inaccessible to you, making the perk useless.

Offerings are Optimized Elsewhere

Even though the National Bank World Elite Mastercard's rewards program and insurance are good, there are competing credit cards that have even better rewards and more comprehensive insurance – not by a huge margin but certainly by a notable one. You can explore some of these alternatives in our following comparison section.

Comparison to Other Top-Tier Travel Credit Cards

To help you solidify your decision of whether or not to apply for the National Bank World Elite Mastercard, we’ve pulled together some of the top-tier travel credits cards in Canada. 

All these cards earn points in similar everyday categories, and have comprehensive travel-oriented insurance, but some go the extra mile of having more benefits or improved benefits compared to the National Bank World Elite Mastercard.

Here's a sneak peek at the comparisons we’ll be making:

National Bank World Elite vs Scotiabank Gold American Express Card 

Whenever we talk about travel credit cards, we have to mention the Scotiabank Gold American Express Card – FinlyWealth’s best overall travel credit card.

What makes it the best? Well, let’s explore that now.

Like the National Bank World Elite Mastercard, the Scotiabank Gold American Express Card earns cardholders competitive points per dollar spent on eligible dining and grocery purchases (plus other popular categories like entertainment, transit, and streaming). In fact, the Scotiabank Gold American Express Card earns you even more points on groceries when you purchase from partnered grocers like Sobeys and Foodland.

The Scotiabank Gold American Express Card’s top redemption category is also travel, but its Scene+ points are actually worth more compared to the National Bank World Elite Mastercard’s National Bank À La Carte Rewards.

As far as insurance goes, the Scotiabank Gold American Express Card has a couple more coverage categories like travel accident and hotel burglary insurance, but there are some categories on the National Bank World Elite Mastercard that are more valuable (like extended warranty and purchase protection insurance).

Regarding benefits, the Scotiabank Gold American Express Card doesn’t have a travel credit, but it does have no foreign transaction fees – a rare and useful perk for those who shop abroad. In terms of airport lounges, the Scotiabank Gold American Express Card unfortunately doesn’t provide any lounge access – but it offers a discount on a PriorityPass membership (a network of airport lounges).

To apply for the Scotiabank Gold American Express Card, you also need to meet certain income requirements – but these requirements are minimal. Plus, the annual fee is slightly cheaper than the National Bank World Elite Mastercard, and it’s completely waived in the first year of membership.

All in all, if you want a travel credit card with more annual value, more extensive coverage, and exclusive perks like no foreign transaction fees, all for a lower annual fee and lower income requirements, then the Scotiabank Gold American Express Card is the better alternative to the National Bank World Elite Mastercard (and perhaps all other travel credit cards). 

National Bank World Elite vs TD First Class Travel Visa Infinite Card

Let’s bring in a top travel credit card from the Visa network – just to cover all of our bases!

The TD First Class Travel Visa Infinite Card beats the National Bank World Elite Mastercard in terms of potential points earned on eligible grocery and restaurant purchases, it also earns cardholder quadruple the points on travel purchases – as long as those travel booking are made through Expedia for TD, and it double the points earned on recurring bill payments. Even the base rate for the TD First Class Travel Visa on all other purchases is double the rate you’ll see on the National Bank World Elite Mastercard.

That said, the National Bank À La Carte Rewards from the National Bank World Elite Mastercard are typically more valuable than the TD Rewards you’ll receive from the TD First Class Travel Visa.

When comparing the two cards’ insurance coverage, you’ll find the shared categories are typically more comprehensive on the National Bank World Elite Mastercard, but the TD First Class Travel Visa has more insurance categories overall – adding travel accident and hotel burglary insurance to the mix.

While the TD First Class Travel Visa doesn’t have any airport lounge benefits, it does have an annual travel credit, but this travel credit’s value is slightly lower than the one provided by the National Bank World Elite Mastercard.

The income requirements for the TD First Class Travel Visa are moderate (especially compared to the requirements for the National Bank World Elite Mastercard), and the annual fee is also a bit lower and waived in the first year.

Another notable aspect of the TD First Class Travel Visa is its generous welcome bonus – earning you valuable points that can be redeemed towards travel – something the National Bank World Elite Mastercard lacks altogether.

Ultimately, for more annual value, insurance, and benefits, the TD First Class Travel Visa is a more accessible and arguably affordable travel credit card. That said, the National Bank World Elite Mastercard adds more value to coverage categories, its annual travel credit, and overall redemption categories.

National Bank World Elite vs American Express Platinum Card

This next card also offers unlimited airport lounge access, in the best way possible.

While the National Bank World Elite Mastercard provides unlimited complimentary visits to the National Bank Lounge at Montreal-Trudeau Airport, the American Express Platinum Card features unlimited complimentary visits to the American Express Global Lounge Collection, unlocking access to over 1,400 airport lounges across the globe. So, with the American Express Platinum Card, you’re essentially swapping unlimited access to only one lounge at one aiport (the National Bank Lounge at Montreal-Trudeau Airport) for hundreds of lounges in multiple international airports.

The American Express Platinum Card also comes with a travel credit, one that’s a bit more valuable than the National Bank World Elite Mastercard’s travel credit.

For the Platinum Card, the benefits don’t stop there – this card has the most perks out of all credit cards – including hotel status lifts and upgrades, a NEXUS Program rebate, a dining credit, and Priority Travel perks.

Both cards offer up the same amount of insurance categories (some with better values than others on both sides), but the Platinum Card swaps the National Bank World Elite Mastercard’s mobile device insurance and emergency medical over 65 insurance for travel accident and hotel burglary insurance – so it might come down to which two of those protections would be most beneficial to you.

The Platinum Card is a perks-focused credit card, so the point earn values aren’t as high as they are for the National Bank World Elite Mastercard – even though they cover some similar categories like dining and travel. However, the value of American Express Membership Rewards is generally higher than National Bank À La Carte Rewards.

Thankfully, the Platinum Card doesn’t have any income requirements, but that doesn’t necessarily make the card super accessible, that’s because it comes with a substantial annual fee that might not be affordable for some. That said, if you make the most out of all the perks provided on this card, you should be able to offset the yearly cost.

Another aspect of the Platinum Card that’s worth mentioning is its welcome bonus, which is one of the most valuable welcome bonuses you’ll see if you meet the card’s minimum spending requirement. This might be intriguing for high-earners who are also big-spenders, since these same cardholders would likely qualify for the National Bank World Elite Mastercard, but might feel disappointed by the lack of an intro offer.

Therefore, the Platinum Card could be considered the most premium travel credit card for those who want tons of benefits (including optimized unlimited airport lounge access and a higher travel credit). But, if you’re not wanting to spend a ton on the annual fee and you can meet the income requirements of the National Bank World Elite Mastercard, you might still consider it as a contender.

Final Verdict

The National Bank World Elite Mastercard is a solid travel credit card option that compliments daily spending habits. 

After you collect points on your day-to-day errands, you can start booking your trip and plan to take advantage of the travel credit to cover your travel expenses, plus a seat in the National Bank Lounge at Montreal-Trudeau Airport. 

While travelling, you’ll also be protected by plenty of trip-oriented insurance coverages like trip interruption and trip cancellation insurance, plus emergency medical over 65 insurance.

If you were hoping for something with a little more value, benefits, coverage, or lower income requirements, you can also circle back to our comparison section to take a look at some top travel credit cards that might suit you better.

Frequently Asked Questions

Is the National Bank World Elite Mastercard worth it?

If you’re a high-earner who regularly plans to travel, the National Bank World Elite Mastercard could be worth the application. Just make sure you make the most out of the card's perks (as with any credit card) to get the card’s full value. For example, if you spend enough on eligible travel expenses to be covered by the annual travel credit, you’ll offset the annual cost of the card.