We continue our curated profile of credit cards that are worth the annual fee with our review of the National Bank World Elite Mastercard.
The National Bank World Elite Mastercard comes with an annual fee of $150. However, if you fly frequently, particularly out of Montreal-Trudeau Airport, you should be able to recoup several times that amount through the card’s generous benefits, including a new, enhanced rewards structure.
Here are the Thrifty highlights:
National Bank World Elite Mastercard – Premium Travel Benefits
Refund of Travel Expenses
Cardholders can receive a refund of up to $150 in eligible travel expenses charged to the card.
Eligible travel expenses include:
- airport parking fees
- baggage fees
- seat selection fees
- access to airport lounges worldwide
- airline ticket upgrades
This benefit alone covers the annual fee.
Unlimited Lounge Access
Cardholders receive unlimited free access to the National Bank Lounge at Montreal-Trudeau Airport for the cardholder, a guest and 2 children 12 years old or younger.
The lounge is accessible for passengers flying internationally outside of the U.S. Lounge access includes free meals, snacks, drinks (including alcoholic beverages), WiFi and access to digital newspapers and magazines.
Mr. Thrifty is a frequent visitor to this lounge since it’s also accessible by Priority Pass and DragonPass members, and he can vouch for its quality. It is roomy and bright, has a nice view of the tarmac, clean and spacious washrooms, quality food and drink selection, and particularly friendly staff.
Premium Travel Insurance
Insurance benefits are one of the best features of the National Bank World Elite Mastercard.
The card features superior insurance benefits, including the following: travel medical, trip interruption, trip cancellation, flight delay, delayed/lost/stolen baggage, common carrier, auto rental/loss insurance are all included for purchases charged to the card. A number of premium cards do not include all of these types of insurance (particularly flight delay insurance).
Earning Rewards Points on the National Bank World Elite Mastercard
A recently updated rewards plan offers, in our view, enhanced value for cardholders.
Cardholders can earn up to the following:
- 5X points on groceries and restaurants
- 2X points on gas and electric charging, recurring bill payments and À la carte travel (i.e., National Bank’s Travel Rewards Program)
- 1 point on other purchases.
The 5X on groceries and restaurants ranks up there with the most generous rewards programs – such as our recently profiled Amex Cobalt Card. Note that the 5X earning rate applies for the first installment of $2,500 in gross monthly purchases charged to the account, regardless of category (after that you earn 2X points on groceries and restaurants). Thrifty hack suggestion: maximize rewards points by buying gift cards at grocery stores, which allows you to earn 5X points.
What Are Points Worth?
Like many programs, it depends on how you choose to redeem the points. National Bank’s À la carte plan offers many redemption options, including gift cards and statement credits. However, you can get the most value, a cent per point, by booking National Bank’s À la carte Rewards Travel.
Do You Qualify?
In order to be eligible for the card applicants need a minimum gross income of $80,000 (or $150,000 in total family income).
Should You Apply?
We like this card, particularly with the newly introduced rewards earning structure. If you fly frequently, the card basically pays for itself. If you fly internationally out of Montreal-Trudeau Airport, the unlimited lounge access makes National Bank World Elite Mastercard a clear winner.
Ready to Apply for the National Bank World Elite Mastercard?
Click here to apply.
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Legal disclaimer
Credit terms
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.
Example of credit charges over a 30-day period
| Annual interest rate | Average balance | |
| $500 | $3,000 | |
| 22.49% | $9.24 | $55.45 |
| 20.99% | $8.63 | $51.76 |
| 12.90% | $5.30 | $31.81 |
| 8.9% | $3.66 | $21.95 |
*Variable interest rate in effect on September 1, 2021
Balance transfer and cash advance are subject to credit approval by National Bank. Each balance transfer must be at least $250.
Details of eligible rewards points
Certain restrictions apply. For more information, consult the Rewards plan section or the Plan rules regarding how to earn points.
The amount of points earned on grocery and restaurant purchases depends on the total gross monthly amount charged to the credit card account, regardless of the purchase category. You will earn 5 points for every dollar in eligible grocery and restaurant purchases until a total of $2,500 in gross monthly purchases is charged to the account. After that, you will earn 2 points per dollar in eligible grocery and restaurant purchases. The total gross monthly amount is calculated based on your monthly billing period. Grocery purchases include any purchase made at a store that primarily sells food, i.e., grocery store, delicatessen, supermarket, greengrocer or specialty food store. Ready-to-eat meal services and meal delivery services are eligible. This definition excludes purchases made at retail stores and big box stores whose core business is the sale of non-food items. Certain merchants may sell products and services that appear identical or similar to those sold by eligible merchants, or may be separate merchants located on the same premises as eligible merchants, but are classified in different categories by Mastercard. For purchases at other merchants, you will only earn regular rewards points. Restaurant purchases include purchases at a restaurant, fast food restaurant, bar, nightclub or pub. For a full list of Mastercard codes associated with eligible merchants, download the terms and conditions of the À la carte Rewards Plan®.
To earn 2 points per dollar in purchases, you will need to purchase gas or an electrical vehicle charge from a service station or from certain big-box stores. Certain merchants may sell products and services that appear identical or similar to those sold by eligible merchants, or may be separate merchants located on the same premises as eligible merchants, but are classified in different categories by Mastercard. For purchases at other merchants, you will only earn regular rewards points. For a full list of Mastercard codes associated with eligible merchants, download the terms and conditions of the À la carte Rewards Plan®.
Recurring bill payments are defined as monthly or regular payments automatically charged by a merchant to your National Bank World Elite Mastercard credit card. Not all merchants offer recurring bill payments, and not all recurring payments are considered recurring bill payments. Certain payments therefore may not entitle you to earn more points.
To earn 2 points per dollar in purchases, you must make your eligible purchases via the À la carte TravelTM Agency section of our À la carte RewardsTM site.
For example, if each month you charge $400 in groceries, $200 in gas, $100 in recurring bill payments and $150 in other purchases to your card, your $850 in purchases will earn you 2,750 points, as follows: 2,000 points for grocery purchases (since the total gross monthly amount is $850, i.e., under $2,500), 400 points for gas purchases, 200 points for recurring bill payments and 150 points for other purchases.
National Bank Lounge conditions
Exclusively available to World Elite Mastercard cardholders. Visitors must present their physical credit card and boarding pass to access the National Bank Lounge. The National Bank Lounge is only available to clients travelling to international destinations (excluding Canada and U.S. flights). 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 $37 for adults and $26 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.
Travel and health insurance conditions
Clients must submit required documents within the given deadline. Certain conditions may apply. Only the primary cardholder (“Cardholder”) of National Bank World Elite Mastercard whose account is in good standing can request a refund of travel expenses. 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 $150.
Eligible expenses include:
· airport parking fees
· baggage fees
· seat selection fees
· access to airport lounges worldwide
· airline ticket upgrades
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 $150 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 rewards.nbc.ca, click the Refund of travel expenses tab and complete the form, you can also contact us at 1-888-296-8881 (toll-free).
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, their 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.
Mobile devices protection:
Up to $1,000 in the event of breakage, loss or theft for a maximum of 2 years after the purchase date. The device must have been purchased using your National Bank World Elite Mastercard credit card, or your phone plan must be paid via recurring payments charged to your National Bank World Elite credit card starting September 1, 2022. For complete terms and conditions, please consult the insurance certificate associated with your card.