National Bank World Elite Mastercard Review 2025: Is It Worth It?
Jan 9, 2025The National Bank World Elite Mastercard offers a high rewards rate on restaurants and groceries, as well as free access to the National Bank Lounge at the Montreal Airport.
With 5x points on groceries and restaurants, capped at $2,500 monthly, the National Bank World Elite Mastercard offers one of the highest earn rates in these categories. However, its strict income requirements and complex welcome offer might deter some applicants.
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National Bank World Elite Mastercard full review
The National Bank World Elite Mastercard is a mid-priced rewards card tied to the National Bank’s À la carte Rewards Plan. Cardholders earn points that can be redeemed for travel, merchandise, financial products, and more.
This card caters to frequent travelers and those who spend heavily on groceries and dining, but its value depends on how well you maximize its features and redemption options.
Benefits of the National Bank World Elite Mastercard
Generous earn rates: Earn 5x points per dollar on groceries and dining (up to $2,500 per month), with a 2x rate applying after the cap is reached. All other purchases earn 1x points.
Flexible redemption options: Use points to book travel, contribute to an RRSP or TFSA, pay down your credit card bill, or even apply them toward your mortgage.
Premium travel perks: Enjoy free, unlimited access to the National Bank Lounge at Montréal-Trudeau Airport (international trips only, with a 3-hour limit).
Valuable travel reimbursement: Receive up to $150 annually for eligible travel expenses, such as airport parking or baggage fees.
Comprehensive insurance: Robust travel coverage includes medical insurance, trip cancellation, and interruption insurance, plus a two-year extended warranty on eligible purchases — longer than most comparable cards.
Discounted banking fees: Cardholders receive reduced fees on select National Bank account packages.
Drawbacks of the National Bank World Elite Mastercard
Monthly cap on 5x rewards: The high earn rate for groceries and dining drops to 2x after $2,500 in monthly spending, regardless of the category. While competitive, this limitation may not suit high spenders.
Restricted lounge access: Free lounge visits are only available for international flights and limited to three hours.
High income requirements: Applicants must earn $80,000 individually or $150,000 as a household, making this card inaccessible for some applicants.
Variable point value: The value of À la carte Rewards points depends on redemption. Points are worth 1 cent each when booking through the À la carte Travel Agency (10,000 points = $100), but other methods may offer significantly lower values.
No transfer options: Points cannot be transferred to other loyalty programs, which limits flexibility for frequent flyers.
Complex welcome offer: The 40,000 bonus points requires you to complete several steps over 15 months, which might feel overly complicated for a reward that isn’t particularly generous.
Who should get the National Bank World Elite Mastercard?
Travellers, dining enthusiasts, and big grocery spenders seeking to offset travel costs will get the most out of this card, especially if they prioritize travel insurance.
Is the National Bank World Elite Mastercard worth it?
The National Bank World Elite Mastercard is worth it for cardholders who can leverage its 5x earn rate and travel perks to offset its $150 annual fee. For example:
Spending $3,000 annually on groceries and dining at the 5x rate earns enough points to cover the annual fee if redeemed through the À la carte Travel Agency (where points are worth 1 cent each).
Alternatively, using the $150 annual travel reimbursement effectively cancels out the annual fee.
National Bank customer ratings
Below average in customer satisfaction: The National Bank ranks 8th out of 13 issuers in J.D. Power’s 2024 Canada Credit Card Satisfaction Study.
Low Trustpilot rating: The National Bank of Canada scored 1.6 out of 5 possible stars based on over 75 customer reviews, as of this writing.
Low Better Business Bureau rating: The National Bank of Canada scored 1 out of 5 possible stars based on just two customer reviews, as of this writing.
National Bank World Elite Mastercard eligibility
Who qualifies for the National Bank World Elite Mastercard?
To qualify for the National Bank World Elite Mastercard, you must be the age of majority in your province or territory and a Canadian resident.
You must also meet one of the following requirements:
Have a gross annual income of at least $80,000 ($150,000 per household).
Be an existing National Bank customer and make a minimum of $25,000 in transactions with your card annually.
Have at least $400,000 in investable assets.
Approximate credit score needed for approval
Canadian credit card issuers rarely disclose required credit scores, which makes it hard to know your chances of approval when comparing credit cards. However, higher scores generally mean better chances of approval, and that’s true regardless of the type of credit you’re applying for.
Want to learn more? Visit our “What Credit Score is Needed for a Credit Card?” page.
National Bank World Elite Mastercard rewards
Earn up to 40,000 points by unlocking the following offers:
5,000 points when you sign up for at least three months of payment insurance.
5,000 points when you make $5,000 net purchases in the first three months.
10,000 points when you make $10,000 net purchases in the first six months.
20,000 points when you make $15,000 in purchases in the first 12 months.
Offer ends March 31, 2025.
5x per dollar on groceries and restaurants (drops to 2x after you spend $2,500 each month).
2x per dollar on gas, electric vehicle charging, recurring bill payments, and bookings made through the À la carte Travel Agency.
1x per dollar on all other eligible purchases.
According to the National Bank website and À la carte Rewards Centre, 10,000 points equal $100 (1 cent per point) when redeemed through the À la carte Travel Agency.
Points may have different values when redeemed for other purchases or for reimbursement.
How to apply for the National Bank World Elite Mastercard
Follow the below steps to apply for the National Bank World Elite Mastercard:
Navigate to the World Elite Mastercard page on the National Bank website and click the Apply now button.
Accept the terms and conditions.
Provide your personal contents details and income information.
Submit requested information about credit card payment insurance and consents.
Verify your identity.
Submit your application.
National Bank World Elite Mastercard vs BMO Ascend World Elite Mastercard
When shopping for a rewards card, you might notice the term ‘World Elite Mastercard’ applied to several products. This means the card belongs to Mastercard’s World Elite series — the highest of the two World Mastercard tiers — and offers premium perks. But, the exact features and perks can vary greatly depending on the issuer.
Take a look below at how the National Bank World Elite Mastercard stacks up to its BMO counterpart as an example.
Rewards breakdown
Rewards breakdown
NerdWallet's take
NerdWallet's take
Card details
Card details
Rewards breakdown
Rewards breakdownNerdWallet's take
NerdWallet's takeCard details
Card detailsReasons you might want a different card
You may want to consider another option if you:
Prefer earning a different type of reward, such as cash back or airline-specific loyalty points.
Need a card with a low interest rate.
Cannot justify the $150 annual fee, particularly if you won’t maximize its rewards or perks.
Frequently carry a balance, as the card’s APR is relatively high and could offset the rewards earned.
National Bank World Elite Mastercard facts
NATIONAL BANK WORLD ELITE MASTERCARD | |
|---|---|
Card type | |
Fees and interest rates | |
Annual fee | $150.00 |
Regular/purchase APR | 20.99% / 22.49%. |
Cash advance APR | 22.49%. |
Balance transfer APR | 22.49%. |
Foreign transaction fee | 2.5% of the transaction amount. |
Rewards and benefits | |
Intro offer | Up to 40,000 Points. |
Reward earn rates |
|
Other perks |
|
Insurance coverage | |
Travel medical | Up to $5 million per insured person per trip: up to 60 days for ages 54 and under, up to 31 days for ages 55-64, and up to 15 days for ages 65-75. |
Flight delay | Up to $500 per person if the delay is more than four hours. |
Trip cancellation | Up to $2,500 per person. |
Trip interruption | Up to $5,000 per person. |
Baggage delay | Up to $500 per person if the delay is more than six hours. |
Lost or stolen baggage | Up to $1,000 per person. |
Rental car theft/damage | Up to $65,000, for up to 48 days. |
Extended warranty | Triples manufacturer’s coverage, up to two additional years. |
Medical, general and legal assistance | Included. |
Purchase Protection | 180 days. |
Mobile Device Protection | Up to $1,000 of mobile device protection in case of loss, theft, accidental damage. |
Methodology
BACK TO TOPNerdWallet Canada rates credit cards according to overall consumer value and their suitability for specific kinds of consumers. Factors in our evaluation methodology include annual and other fees, rewards rates, the earning structure (for example, flat-rate rewards versus bonus categories), redemption options, bonus offers for new cardholders, introductory and ongoing APRs, and other noteworthy features such as airline or hotel perks or the ability to transfer points.
Frequently asked questions
What is the household income required for the National Bank World Elite Mastercard?
What is the household income required for the National Bank World Elite Mastercard?
The minimum household income requirement for the National Bank World Elite Mastercard is $150,000 ($80,000 for individuals).
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Shannon Terrell
