National Bank World Elite Mastercard Review 2024: Is It Worth It?
Jan 17, 2024The 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.
The National Bank World Elite Mastercard is one of eight credit cards offered by the National Bank, as of this writing. Cardholders can enjoy a high earn rate on groceries and restaurants — 5x À la carte points per CAD spent up to a monthly spend of $2,500, after which, the earn rate drops to 2x.
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National Bank World Elite Mastercard full review
The National Bank World Elite Mastercard is a mid-priced rewards card that earns À la carte points — the National Bank’s rewards program. À la carte points can be redeemed for travel, merchandise and more.
Benefits of the National Bank World Elite Mastercard
Up to two years extended warranty on eligible purchases, which is longer than most reward cards on the market.
High earn rate on groceries and restaurants (5x À la carte points).
Option to pay your mortgage with your rewards points.
Free access to the National Bank Lounge at Montréal-Trudeau Airport.
$150 annual refund for travel expenses, such as airport parking and baggage fees.
Drawbacks of the National Bank World Elite Mastercard
The earn rate on groceries and restaurants drops from 5x to 2x after you spend $2,500 per month, regardless of the category.
National Bank Lounge access is only free for international trips, and visits are limited to a maximum of three hours.
Who should get the National Bank World Elite Mastercard?
Anyone who wants to earn À la carte points and spends big on groceries and restaurants, is going to get the most out of this card.
Is the National Bank World Elite Mastercard worth it?
The National Bank World Elite Mastercard may be worth it if you earn enough points to offset the annual fee. This may be easier than you think if you unlock all the welcome offers and, in general, spend a lot at grocery stores and restaurants. At 5x the points per CAD, you’d only need to spend $3,000 a year in this category to cover the $150 annual fee (assuming you redeem your points through the À la carte travel agency, which offers the highest point redemption value). Keep in mind that the 5x earn rate drops to 2x after you spend $2,500 in one month. The 5x earn rate resets each month.
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 multiple offers:
Earn 10,000 points when you make $2,500 in purchases in the first three months.
Earn 15,000 points when you make $6,500 in purchases in the first 12 months.
Earn 5,000 points when you enroll in payment insurance for at least the first three months.
Offer ends on Aug. 15, 2024.
5x À la carte points on groceries and restaurants (drops to 2x points per CAD after you spend $2,500 each month).
2x À la carte points on gas, recurring payments, electric vehicle charging and À la carte travel.
1x À la carte point on everything else.
According to the National Bank website, every 10,000 À la carte points equals $100 (one 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 see the term ‘World Elite Mastercard’ being used on multiple cards. This means the card belongs to Mastercard’s World Elite series — the highest of the two World Mastercard tiers, offering premium perks. But depending on the issuer, World Elite features and perks can vary greatly. 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:
Want to earn a different type of reward, such as cash back, or prefer a different points program, like airline-specific rewards.
Need a card with a low interest rate.
Cannot afford the annual fee.
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%. |
Penalty APR | 25.99% if you miss two payments within 12 months. This penalty APR will stay in place until you’ve made nine consecutive payments on time. |
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 | 5x À la carte points on groceries and restaurants (2x points after $2,500 spent in any category) 2x À la carte points on gas, recurring payments, electric vehicle charging and À la carte travel. 1x À la carte point on everything else. |
Other perks | Up to two years extended warranty on eligible purchases, which is longer than most other rewards cards on the market. High earn rate on groceries and restaurants (5x À la carte points). Option to pay your mortgage with your rewards points. Free access to the National Bank Lounge at Montréal-Trudeau Airport. $150 annual refund for travel expenses, such as airport parking and baggage fees. |
Insurance coverage | |
Travel medical | Up to $5 million per insured person per trip. |
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 | For up to 48 days. |
Extended warranty | 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
