National Bank World Elite Mastercard review

Quick overview

Globetrotters may well find the National Bank World Elite Mastercard a compelling credit card option thanks to its substantial rewards and travel benefits. This card also offers big points on groceries and dining, gas, EV charging, recurring bill payments and à la carte travel. The card also boasts travel-friendly perks like lounge access, an annual travel expense reimbursements and an attractive array of travel insurance. 

While the rewards and travel benefits are impressive, the $150 annual fee may be too pricey for some. Additionally, the card may be out of reach for many as it requires a minimum gross annual income of $80,000 or $150,000 in household income. It’s also worth noting that, for a travel card with a considerable annual fee, the lounge offerings are minimal, allowing you visits to the National Bank Lounge in Montreal only.

Who’s the National Bank World Elite Mastercard for?

The National Bank World Elite Mastercard is designed for individuals who enjoy travel and seek significant rewards for their spending at grocery stores and restaurants. The perk of the card’s generous suite of travel insurance includes out-of-province medical insurance, flight cancellation, delayed flight, and stolen luggage insurance. It even features mobile phone insurance, which is still somewhat of a rare insurance offering among cards in Canada. The card will also appeal to those who want a flexible rewards program with the À la carte Travel rewards program cardholders can redeem points for gift cards, discounted travel, a statement credit and more.

Pros and cons

How to earn À la carte Travel points on National Bank World Elite Mastercard

You’ll earn 5 points on dining and groceries  (however your earnings in this accelerated category are capped at $2,500 in gross monthly purchases, once that amount is reached, you’ll only earn two points per dollar for grocery and restaurant purchases). You’ll also get  2 points on gas, EV charging, recurring bill payments and A la carte travel and 1 point on all other purchases.

You can maximize your point accumulation by focusing your spending on the highest earn categories of restaurants and groceries.

How to redeem À la carte Travel points with the NBC World Elite Mastercard

You can redeem your National Bank’s rewards points through their online À la carte rewards portal. Once on the portal website page, you can then redeem your points for an impressive array of rewards: gift cards, statement credits (with a minimum of 6,250 points for $25), select charities, put points towards your mortgage, buy merchandise from the online boutique and use points for travel. With travel, you have the option to either book travel using your points or get reimbursed for travel that you’ve already charged to your card. 

It’s important to note that you get the best value for your points when you redeem them for travel via the À la carte Travel booking portal. When you do, your points are worth one cent each. However, if you use your points to offset a travel purchase you’ve already made, you’ll only get a value of 83 cents per point if you redeem fewer than 55,000 points or 91 cents if you redeem more than 55,000 points. For all other types of redemptions you’ll earn anywhere from 83 cents (financial rewards) to 40 cents(for statement credits). 

National Bank World Elite Mastercard key benefits

• $150 refund per year on travel expenses like seat selection, airport parking and more. 
• Comprehensive insurance package

NBC World Elite Mastercard insurance coverage

• Out-of-province emergency travel medical insurance: This covers the primary cardholder, spouse and dependent children for up to $5 million per person per trip. It also includes up to $2,000 for emergency dental treatment and up to $300 for a licensed chiropractor, physiotherapist, podiatrist, or osteopath whose services are prescribed by a doctor. 
• Trip cancellation/trip interruption insurance: This covers up to $5,000 for trip interruption and $2,500 for trip cancellation per person. 
• Flight delay: This covers up to a max of $500total per insured per person for things like hotel accommodation and meals. 
• Delayed, lost, stolen or damaged baggage insurance: If baggage is delayed for at least 6 hours an insured can claim up to $500 per insured person for essentials like toiletries and clothing. 
• Auto rental collision/loss damage insurance: This covers the full value of the vehicle for theft, loss, fire and accident damage, if the entire cost of the rental is charged to your card. This coverage has a limit of 48 days and up to up to $65,000. 
• Purchase protection and extended warranty insurance: Extended warranty protection triples the manufacturer’s warranty up to 2 additional years (this is quite notable as most extended warranty protection only offers up to 12 months of additional protection). C
  

Extra benefits

• A $150 refund per year on travel expenses like seat selection, airport parking and more
• Complementary and unlimited access to the National Bank Lounge for you and a travel companion at Montréal-Trudeau Airport 
• Compatible with Google Pay and Apple Pay

What people have to say about this card

One reddit user wonders if the card was mostly intended for users in Quebec (likely because the card’s lounge benefit is only useful at the Montreal airport). Another user praised the card’s point value of one cent when redeemed for travel. 

How this NBC World Elite Mastercard compares

National Bank World Elite Mastercard vs. BMO Ascend World Elite Mastercard

The BMO Ascend World Elite Mastercard offers a compelling alternative to the National Bank World Elite Mastercard. Like with the National World Elite Mastercard, the rewards program has lots of flexibility, letting you redeem points for a wide range of items, such as travel, merchandise, financial products and statement credits. You’ll earn 5 points per dollar spent on travel, 3 points per dollar on dining, entertainment, and recurring bill payments, as well as 1 point per dollar spent on all other purchases. 

The card also comes with a robust insurance package that includes insurance like emergency medical, trip cancellation/trip interruption, delayed and lost baggage and more. (Note, however, that unlike the National Bank World Elite Mastercard, the BMO card does not have mobile device insurance.) The card also has perks like rental car and Cirque du Soleil discounts. With the BMO card, you’ll enjoy 4 free visits to airport lounges around the world (not just at Montreal’s main airport) with your free Dragon Pass lounge membership.

The best way to figure out which of the two cards is best for you is to compare the accelerated earn categories and see which one would add up to rewards based on your spending habits. 

National Bank World Elite Mastercard vs. National Bank World Mastercard

Is the National Bank World Elite Mastercard worth it?

The National Bank World Elite Mastercard is worth it if you can take advantage of the generous $150 travel reimbursement and will get regular use out of the lounge benefit at the Montréal-Trudeau Airport.

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