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National Bank of Canada World Elite Mastercard review


We’ll get into the details below in our National Bank World Elite Mastercard review, but here are some highlights. This card still offers one of the very best travel insurance packages on the market—particularly for the hard-to-insure older market between 65 and 75 years old. The points program has been simplified, making rewards redemption easier, and you can still use your points toward a wide variety of options, from statement credits to travel. And speaking of travel, this card still gets you exclusive benefits like free airport lounge stays (at Montréal-Pierre Elliott Trudeau International Airport only) and annual rebates on travel expenses.

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Image of National Bank World Elite Mastercard
Annual fee $150
Best features Comprehensive travel insurance, even for older travellers between 65 and 75 years old
Earn rate 5 points per $1 spent on groceries and at restaurants (up to the first $2,500 in gross monthly purchases charged to the account, regardless of the purchase category, and 2 points per $1 after); 2 points per $1 spent on gas and EV charging, recurring payments and À la carte Travel service; 1 point per $1 on everything else
Income requirement $80,000 personal or $150,000 household
Interest rates Purchases 20.99%, cash advances 22.49%, balance transfers 22.49%
Point value Varies, from a low of $0.004 on statement credits up to a high of $0.01 on travel
Welcome offer 30,000 bonus reward points when you charge a net purchase amount of $5,000 to your card within the first three months of opening your account; 30,000-point first-year anniversary bonus; 10,000 bonus points if you opt into credit card payment insurance. First-year annual fee reimbursed to primary cardholder. Conditions apply; promotion ends Jan. 13, 2023. 
Who it’s good for World travellers, particularly those who are older; cardholders who want to use rewards points for RRSP or TFSA investments  

National Bank World Elite Mastercard review

We take a close look at the new National Bank World Elite Mastercard and weigh the pros and cons to see whether it’s a top-tier travel rewards credit card.

How to redeem your rewards for travel and more

When you use your National Bank World Elite Mastercard, you earn rewards points to redeem for a variety of rewards including gift cards, statement credits, merchandise, experiences, travel or even investments in your registered retirement savings plan (RRSP) or tax-free savings account (TFSA) at National Bank of Canada.

Redemptions are dead simple. Once you’ve accumulated enough rewards points for your desired reward, visit the National Bank online rewards boutique. There, you can browse or search for your item and redeem your points.

You can take advantage of National Bank travel rewards in two ways. Book your trip using your points on the À la carte Travel Agency, or redeem points against travel expenses already charged to your card. Either way, you can use your rewards points.

Pros of the National Bank World Elite Mastercard


  • The new rewards points are boosted in several categories, including groceries and restaurants, and some boosted categories—such as gas, EV charging and recurring bill payments—have no cap.
  • Spending limits have been simplified. Bonus points are applied on the first $2,500 spent monthly, regardless of category, for the 5x acceleration.


  • The National Bank World Elite Mastercard has an exceptional suite of included travel-related insurance—available even to cardholders aged 65 and older, who can travel with peace of mind knowing they have an automatic 15 days of emergency travel insurance in their wallet. People under age 54 get 60 days, and those aged 55 to 64 get 31 days.
  • Other travel protection coverage includes up to $2,500 for trip cancellation, up to $5,000 for trip interruption, up to $500 for flight delays, and coverage for baggage theft, loss or delay.
  • With recent changes to this card’s insurance, there is now two years of new mobile device coverage that protects your device from breakage, loss or theft up to $1,000.


  • The National Bank World Elite Mastercard carries some impressive—and unique—perks like complimentary lounge access for you, a guest and up to two children under 12 years of age at the Montréal-Pierre Elliott Trudeau International Airport, and travel rebates.
  • Effective January 2023, flight ticket upgrades and worldwide lounge access will be newly eligible for rebates.
  • Plus, in a win for simplicity, maximums in travel expense categories will be replaced by a single annual maximum refund of $150.

Cons of the National Bank World Elite Mastercard

  • Despite healthy boosts in some spending categories, you’ll only earn at accelerated rates on groceries and restaurants until you reach $2,500 spent (in all categories) monthly. After that, you get 2 points per $1.
  • If you had the card previously, know that recent changes removed personal effects protection aboard a rental vehicle.
  • The multiple coverage clause was clarified to disqualify any claims paid out by any other insurer.
  • Maximum annual travel rebates are capped at $150.

Alternative cards

If the National Bank World Elite Mastercard piques your interest, it’s worth comparison shopping. (Check out our full list of “Best credit cards in Canada”.)

Scotiabank Gold American Express

With its rewards program and included insurance, the Scotiabank Gold American Express is a solid alternative and has the additional benefit of a low $12,000 minimum personal income requirement. This card charges no foreign exchange fee, which could save you 2.5% to 3% on purchases made in another currency, and it also entices new cardholders with a welcome offer of up to 40,000 bonus Scene+ points (a $400 value).


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