The National Bank World Elite Mastercard is ideal for those who frequently spend on groceries and dining, and who can take advantage of the travel credit and insurance benefits. It’s particularly beneficial for Montreal residents who can access the airport lounge. While it may not be the flashiest card on the market, its solid features and benefits make it a worthwhile option for many Canadians.
Point Value and Rewards
One of the first things to note about the National Bank World Elite Mastercard is its rewards system, known as the À la carte Rewards. This program allows you to redeem points for various options, including gift cards, merchandise, travel, and even investments. The point value is relatively competitive, averaging around 0.83 cents per point, which is better than some other cards like the BMO points, valued at 0.67 cents for travel redemptions.
Multipliers and Categories
The card offers a generous five points per dollar spent on groceries and restaurants, translating to about a 4.15% return in these categories. This is a solid offering, placing it above some competitors like the CIBC Dividend Visa Infinite. However, the two points per dollar on gas, electric vehicle charging, recurring bills, and travel booked through À la carte Rewards are less impressive. For instance, if you’re using a service like Chexy for rent payments, the rewards won’t cover the transaction fees, making these categories less attractive.
Travel Benefits
Despite its limited recognition, the National Bank World Elite Mastercard offers noteworthy travel perks. This includes unlimited access to the National Bank Lounge at the Montreal airport for those based in Montreal. For others, the card provides a $150 annual travel credit, which can be used for a variety of airport-related expenses.
Flexible Travel Credit
The $150 travel credit is highly versatile, applicable to many expenses such as airport parking, seat upgrades, and lounge access. Even if you’re not traveling, you can still utilize this credit, which effectively offsets the card’s annual fee. Additionally, cardholders get discounted rates at lounges worldwide, thanks to the Mastercard Travel Pass membership.
Insurance Coverage
One of the standout features of the National Bank World Elite Mastercard is its comprehensive insurance package. While it offers ten types of insurance, each provides substantial coverage, making it a strong contender in this area.
Top-Tier Insurance
The card boasts an extended manufacturer’s warranty of up to two years, purchase protection for 180 days, and travel medical insurance for cardholders up to age 75. This is particularly noteworthy as it covers older travelers, a rare benefit among Canadian credit cards.
Final Score and Conclusion
In evaluating the National Bank World Elite Mastercard, we consider several factors. The rewards offer a respectable 4.15% return on key categories like restaurants and groceries, earning it a score of 7 out of 10. The insurance package is exceptional, meriting a 9 out of 10. The unique perks, including the flexible travel credit and lounge access, are rated at 7 out of 10. Overall, this card scores a 7.75 out of 10, placing it in the B-tier category.
Who Should Consider This Card?
In summary, the National Bank World Elite Mastercard is a robust option for those looking for a credit card with strong rewards in specific categories and excellent insurance coverage. While it may not be the most popular card in Canada, its unique offerings and benefits make it a contender worth considering. If you’re looking for a card that combines flexibility with practical perks, this one might just fit the bill.