National Bank World Elite Mastercard® Review
Sign up for a credit card and get $300 cashback. Offer for new cardholders.
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Recommended Credit Score:
740 900
Excellent
$1100
Welcome Bonus Value
$150
Annual Fee
20.99%
Purchase Interest Rate
$80,000
Min Personal Required
National Bank World Elite Mastercard®
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My Rate Compass Rating: star star star star star_outline (4.3)
Bank Name:National Bank
Network Type:Mastercard
National Bank World Elite Mastercard®
Welcome Bonus
Sign up for a credit card and get $300 cashback. Offer for new cardholders.
Annual Fee
$150
National Bank World Elite Mastercard®
Card Details

 

National Bank’s most exclusive credit card is the World Elite Mastercard.This World Elite credit card offers you the equivalent of $ 1,100 in rewards annually when you reach the required minimum purchase amount*.


Below is how.

  • More than $350 in reward points (with $2,500 in purchases/month)
  • $250 refund on travel expenses and unlimited access to the National Bank Lounge with one guest (value of more than $200)
  • Current offer: $300 cashback


Eligibility

To be eligible, you must have an annual gross income of $80 000 or an annual household income of $150 000. Otherwise, you must have a minimum value of $400 000 in assets or $25 000 in yearly minimum purchases (existing clients only) on your card.

Insurance
  • Priority airport services No
  • Airport lounge access Yes
  • Concierge service Yes
  • Balance protection(Optional) No
  • Purchase Security & Extended Protection Insurance Yes
  • Flight delay insurance,Baggage Insurance Yes
  • Vehicule rental insurance Yes
  • Travel accident insurance Yes
  • Travel medical insurance Yes
Fees and Eligibility
Fees
  • Annual Fee: $150
  • Additional Card Fee: $50
  • Purchases Interest Rate: 20.99%
  • Cash Advance Interest Rate: 22.49%
Eligibility
Personal Income Required: $80000
  • You're a Canadian resident
  • You've reached the age of majority in your province or territory
Recommended Credit Score:
740 900
Excellent
Our Rating
My Rate Compass Rating: star star star star star_outline (4.3)
Rating Methodology: My Rate Compass's ratings are determined by our editorial team. Our editors rate credit cards objectively based on the benefits and features the credit card offers, interest rates, the fees, and how a credit card compares with other cards in its category. Credit card rating methodology
Editorial Guidelines: Learn more about our editorial guidelines here.
Pros and Cons

 More with your points

Make a payment on your card, make a donation or redeem your reward points for a gift card or financial product.

Extended warranty

Get up to triple the manufacturer's warranty for most items purchased using your credit card, up to 2 additional years.

Travel discounts

Redeem your points to pay for travel expenses, such as plane tickets, car rentals or vacation home rentals.

Access to the VIP Lounge at the airport

Unlimited access to National Bank Lounge

You and a guest can enjoy free access to the National Bank Lounge at Montréal-Trudeau Airport, with drinks, snacks, Wi-Fi and much more!

Travel expenses

Get a refund of up to $250 per year on seat selection, airport parking and baggage fees.

Comprehensive travel insurance

Enjoy up to 60 days' coverage with our travel, trip cancellation/interruption, or baggage loss insurance and up to 48 days for car rental insurance.

Editor's Review

Overview

National Bank’s most exclusive credit card is the World Elite Mastercard. Cardholders can take advantage of exclusive travel perks and earn points under the À la carte Rewards Plan at an accelerated rate. Check out the other benefits below.

Key Features and Benefits

  • Annual fee of $150 and standard interest rates
  • Earn points towards the À la carte Rewards Plan while you spend
  • Earn 1.5 points per dollar spent on net purchases up to $40,000, earn 2 points per dollar spent on net purchases between $40,001 and $80,000, and earn 1.5 points per dollar spent over $80,001 in a year
  • Eligibility for a travel expense refund
  • Unlimited access to National Bank Lounge at the Montreal-Trudeau Airport for you and a guest
  • Minimum annual income of $80,000 for an individual or $150,000 for a household, OR have a minimum of $400,000 in assets, OR be an existing client that spends at least $25,000 per year
  • Extended warranty and comprehensive travel insurance coverage included

Pros

  • Access to a special travel agency and a dedicated online store under the À la carte Rewards Plan
  • Redeem points for merchandise, gift cards, vacation packages, plane tickets, travel experiences, À la carte Extras, or credit card statement credits
  • National Bank is rated as one of the best banks for customer service support

Cons

  • Tiered points earning system under the À la carte Rewards Plan
  • Minimum annual incomes, expenditures, or savings are required to apply for this credit card
  • Minimum credit limit of $5,000

Takeaway

The World Elite Mastercard is the most luxury credit card National Bank has to offer. There are tons of exclusive benefits that come with the card, but not everyone spends enough to take advantage of the perks or is willing to pay the annual fee. If you’re more concerned with affordability, consider other National Bank credit cards.


Legal notes :

 

*The potential benefit amount of $1,100 is an example of what a World Elite cardholder could obtain annualy, after signing up. This example is based on a cardholder who charges $30,000 to their card every year, enjoy the $300 cashback promotion with his $4,000 net purchases the first 3 months, gets $250 in travel fee refunds and visits the National Bank Lounge twice with a guest. The amount was calculated as follows: $30,000 in expenses per year equalling 45,000 reward points, which is equivalent to more than $350 in electronic gift cards ($100 for every 12,500 points) or travel discounts ($100 for every 12,000 points), $250 refund on travel fees and two visits to the Lounge with a guest ($48.29 plus taxes per person). Certain eligibility conditions apply. The potential benefit amount varies depending on the annual expenses charged to the account and the number of visits to the National Bank Lounge. 

 

1 Offer for new cardholders. To take advantage of this offer, you must sign up for a National Bank World Elite Mastercard credit card before May 31, 2021 and activate it no later than June 15, 2021. Credit card is issued subject to credit approval by National Bank of Canada, conditions apply, visit nbc.ca/worldelitemastercard.

You will receive a $300 cashback if $4,000 in net purchases is charged to the eligible credit card account within the first three months following enrolment. The cashback will be credited to your account on the fourth or fifth statement after your account is opened. The offer begins and the net purchases charged to your card are calculated starting the month following the account opening. Net purchases between the first and the last calendar day of the month are calculated. Net purchases refer to the amount in purchases charged to the account less returns and refunds. Annual fees, balance transfers, cash advances, cash transactions, interest charges and any other fees and adjustments are not included in the calculation. The net purchases charged to your card are calculated starting the first day of the month following the account opening. The account must be in good standing for the cashback to be awarded. Employees of National Bank and its subsidiaries and entities are not eligible for the offer. National Bank reserves the right to end this promotion



®Mastercard, and World Elite are registered trademarks, and the circles design is a trademark of Mastercard International Incorporated. Authorized user: National Bank

*The potential benefit amount of $1,100 is an example of what a World Elite cardholder could obtain annualy, after signing up. This example is based on a cardholder who charges $30,000 to their card every year, enjoy the $300 cashback promotion with his $4,000 net purchases the first 3 months, gets $250 in travel fee refunds and visits the National Bank Lounge twice with a guest. The amount was calculated as follows: $30,000 in expenses per year equalling 45,000 reward points, which is equivalent to more than $350 in electronic gift cards ($100 for every 12,500 points) or travel discounts ($100 for every 12,000 points), $250 refund on travel fees and two visits to the Lounge with a guest ($48.29 plus taxes per person). Certain eligibility conditions apply. The potential benefit amount varies depending on the annual expenses charged to the account and the number of visits to the National Bank Lounge. 

Offer conditions

Offer valid from February 1 to May 31, 2021 for National Bank® World Elite® Mastercard® credit card. Credit card is issued subject to credit approval by National Bank.Certain conditions apply.

 You will receive a $300 cashback if $4,000 in net purchases is charged to the credit card account within the first three months following enrollment. The cashback will be credited to your account on the fourth or fifth statement after your account is opened. 

To take advantage of this offer, you must sign up for National Bank World Elite Mastercard credit card before May 31, 2021 and activate it no later than June 15, 2021. The offer begins and the net purchases charged to your card are calculated starting the month following the account opening (for example, if the account is opened on February 15, purchases will be calculated starting March 1). Net purchases between the first and the last calendar day of the month are calculated.

 Net purchases refer to the amount in purchases charged to the account less returns and refunds. Annual fees, balance transfers, cash advances, cash transactions, interest charges and any other fees and adjustments are not included in the calculation. The net purchases charged to your card are calculated starting the first day of the month following the account opening. 

The account must be in good standing for the cashback to be awarded.

This promotion is intended for individuals who do not have a National Bank Mastercard credit card and have not held a National Bank credit card within the last 24 months. The offer is not applicable when opening an additional card.  

This offer cannot be combined with any other National Bank promotion.

 Employees of National Bank and its subsidiaries and entities are not eligible for the offer. 

PB 1859 clients are included in this offer.

 National Bank reserves the right to end this promotion at any time without notice.

TM National Bank of Canada received the highest CX Index™ score among credit card issuers in Canada in Forrester’s proprietary 2020-2021 CX Index™ survey (valid until September 2021). The ranking was based on responses from 9,004 measuring 12 brands. The proprietary survey results are based on consumers’ opinions of the experiences with the brands in the survey. Forrester Research does not endorse any company included in any CX Index™ report and does not advise any person to select the products or services of any particular company based on the ratings included in such reports.

TM CX Index and Forrester are trademarks of Forrester Research inc.

MD À LA CARTE REWARDS PLAN AND À LA CARTE EXTRAS are registered trademarks of National Bank of Canada.

®Mastercard, World Mastercard and World Elite are registered trademarks, and the circles design is a trademark of Mastercard International Incorporated. Authorized user: National Bank

MD ESCAPADE, OVATION AND ALLURE EDITIONS are registered trademarks of National Bank of Canada

TM ID Check and Identity Check are trademarks of Mastercard International Inc. Authorized user: National Bank.

TM À LA CARTE TRAVEL is a trademark of National Bank of Canada. À la carte Travel is owned by Transat Distribution Canada Inc., holder of permit No. 753141 in Quebec.

1. Certain restrictions apply. You must, therefore, first pay for your trip in full with an eligible credit card to redeem your points. Your travel credit will take effect approximately 72 hours after the exchange. For more information, consult the applicable rules for earning points in the À la carte Rewards Plan section

2. Grace period: No interest will be charged on purchases made during the month, provided the client pays the balance in full within twenty-one (21) days of the statement date. This grace period does not apply to cash advances or balance transfers. Minimum payment: If your account balance is lower than $10, you must pay the entire balance. If you reside in the province of Quebec, your minimum payment will correspond to 5% of the credit card account balance plus any overdue payment or $10, whichever amount is higher. If you reside outside of Quebec, your minimum payment represents 2.5% of the credit card account balance plus any overdue payment or $10, whichever amount is higher. Account statement: A statement is sent monthly.

Examples of credit charges

Example of credit charges over a 30-day period

 
 

Annual interest rate

Average balance

 

$500

$3,000

22.99%

$9.45

$56.69

20.99%

$8.63

$51.76

14.5%

$5.96

$35.75

8.9%

$3.66

$21.95

 

*Variable interest rate in effect on July 1, 2019


3. Balance transfer and cash advance are subject to credit approval by National Bank. Each balance transfer must be at least $250.

4. Exclusively available to holders of the World Elite Mastercard. Visitors must present their credit card and boarding pass to access to the National Bank Lounge. Further to a decision by Aéroports de Montréal, the National Bank Lounge will only be available to clients flying to destinations outside the U.S. and Canada, effective April 3, 2019. Guests cannot spend more than three (3) hours in the Lounge. For National Bank clients who do not have free Lounge access and for additional guests, admission is around $40 for adults and $25 for children, plus tax. Admission is free for children under three years old. The entry price may change at any time without notice and at the discretion of the Lounge operator.

5. On condition that required supporting documents are provided in the manner and time frame prescribed. Some restrictions may apply.

6. Only the primary cardholder (Cardholder) of National Bank World Elite Mastercard whose account is in good standing can request a travel reimbursement. An account in good standing refers to an account linked to a Credit Card which complies with the Agreement governing the use of the Credit Card and which is not subject to any restrictions. For example, the annual fees related to the Credit Card must have been paid in full. The maximum amount that can be submitted for reimbursement between January 1 and December 31 of each year is $250. Eligible expenses include: airport parking fees (maximum $100), baggage fees (maximum $100) and seat selection fees (maximum $50). The claim must be submitted within 60 days of the purchase date and accompanied by proof of purchase. The travel fees must be charged to the National Bank World Elite Mastercard credit card. The maximum reimbursement amount is $250 per account. The refund will be issued within 7 business days following the request approval date and after receiving all required information. An amount not claimed in a year cannot be carried over to the following year. For more information or to obtain the refund form, sign in to recompensesbnc.ca, click the Smart Traveller Fees tab and complete the form, you can also call 1?888?296?8881 (toll-free) in Canada and the United States, or +1?416?734?3922 (collect) from anywhere in the world.

7. This coverage applies to purchases and rentals charged in part to the card, except out-of-province medical/hospital insurance for which the travel arrangements need not be charged to the card, and lost or delayed luggage insurance where all transportation costs must be charged to the card. This coverage applies to the primary cardholder, his/her spouse and/or dependent children when they (spouse and/or dependent children) travel with the primary cardholder. Extended warranty coverage applies to most new items purchased with the card, in Canada or abroad, as long as the manufacturer's warranty is valid in Canada. Certain conditions and restrictions apply. For more information and for details of your insurance coverage, please consult the insurance certificate associated with your card.

8. Subject to credit approval by National Bank.

9. Certain conditions apply. Visit mastercard.ca for more information. Refer to the credit card terms and conditions.

 

*The number of points required for any À la carte Extra is subject to change without notice.

Author Bio

User
Mohamed Konate

Mohamed Konate is a personal finance expert, blogger, and marketing consultant based out of Toronto. He is a former financial services professional who worked for many years at major Canadian financial institutions where he managed the marketing strategy around various financial products ranging from credit cards to lines of credit. Mohamed is passionate about personal finance and holds a Bachelor in Business Administration from the University of Quebec (Montreal) and a Master in International Business from the University of Sherbrooke (Quebec).He is also the author of the Canadian Credit Card Guidebook.

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