National Bank’s World Elite Mastercard has long earned accolades for its included insurance, robust points program and unique and valuable perks, making it a solid choice as a travel card. With the fall 2022 restructuring of its rewards program and other adjustments affecting insurance and the reimbursement of travel expenses, it’s time to revisit the card to see if it’s still a great pick.
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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Annual fee: $150
Rewards: 1 to 5 points per dollar
Welcome offer: Earn up to 45,000 points. Offer ends December 1, 2025.
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Card details
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.
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.
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.”)
With its rewards program and included insurance, the Scotiabank Gold American Express is a solid alternative. This card charges no foreign exchange fee, which could save you 2.5% to 3% on purchases made in another currency.
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Annual fee: $120
Rewards: 1 – 6 Points per dollar
Welcome offer: Earn up to $1,050 in value in the first 12 months, including up to 50,000 bonus Scene+ points. Offer ends October 31, 2025.
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Card details
The TD First Class Travel Visa Infinite is not only a strong rewards card in terms of travel insurance, but it also gets you a 4.5% rate of return on travel spending. Other travel-related perks like airport lounge access round out the package.
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Annual fee: $139 (waived first year)
Rewards: 2 to 8 points per dollar
Welcome offer: Earn up to $1,400 in value, including up to 165,000 TD Rewards points and no annual fee for the first year. Conditions apply.
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Card details
When it comes to included insurance, the Cobalt turns heads with up to $5 million in travel emergency medical, $250,000 of travel accident coverage, flight and baggage delay, lost or stolen luggage, up to $500 in hotel burglary protection, and up to $85,000 in car rental theft and damage coverage. One thing to note is that as an American Express card, it won’t be as widely accepted as Visa cards or Mastercards.
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Annual fee: $155.88 ($150 for Quebec residents)
Effective November 5, 2025: the monthly fee for non-Quebec residents will increase to $15.99 per month ($191.88 annually), and the annual fee for Quebec residents will increase to $191.88 per year.
Rewards: 1 to 5 points per dollar
Welcome offer: Earn 1,250 points for each month you spend $750, up to a maximum of 15,000 points.
Card details
Back to the National Bank World Elite Mastercard. This credit card has a lot going for it, including an excellent insurance package, boosted earn rates and travel rebates. However, the $150 annual fee is a touch higher than those of other cards in its category, which makes room for other contenders.
The post National Bank of Canada World Elite Mastercard review appeared first on MoneySense.
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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National Bank World Elite Mastercard
GET A $50 CASH BONUS UPON APPROVAL ON RATEHUB.CA. OFFER ENDS AUGUST 31.
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Annual fee: $150
Rewards: 1 to 5 points per dollar
- 5 points per $1 on grocery and restaurant purchases
- 2 points per $1 on gas, EV charges, recurring bill payments and travel booked through À La Carte Rewards
- 1 point per $1 on all other purchases
Welcome offer: Earn up to 45,000 points. Offer ends December 1, 2025.
GET A $50 CASH BONUS UPON APPROVAL ON RATEHUB.CA. OFFER ENDS AUGUST 31.
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Card details
| Interest rates | 20.99% on purchases, 22.49% on cash advances, 22.49% on balance transfers |
| Income required | Personal income of $80,000 or household income of $150,000 |
| Credit score | 760 or higher |
| Point value | 1 point is worth $0.01 when redeeming using National Bank’s À La Carte Rewards Plan. |
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
Rewards
- 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.
Insurance
- 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.
Perks
- 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. This card charges no foreign exchange fee, which could save you 2.5% to 3% on purchases made in another currency.
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Scotiabank Gold American Express
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Annual fee: $120
Rewards: 1 – 6 Points per dollar
- 6 points per $1 at Sobeys-affiliated stores
- 5 points per $1 on dining, entertainment and groceries
- 3 points per $1 on gas, transit and streaming
- 1 point per $1 on everything else
- Pay no FX fees on foreign purchases
Welcome offer: Earn up to $1,050 in value in the first 12 months, including up to 50,000 bonus Scene+ points. Offer ends October 31, 2025.
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Card details
| Interest rates | 20.99% on purchases, 22.99% on cash advances, 22.99% on balance transfers |
| Income required | $12,000 per year |
| Credit score | 725 or higher |
| Point value | 1 Scene+ point = $0.01 when redeemed for travel, store purchases and food and drink at Cineplex and Scene partners |
TD First Class Travel Visa Infinite Card
The TD First Class Travel Visa Infinite is not only a strong rewards card in terms of travel insurance, but it also gets you a 4.5% rate of return on travel spending. Other travel-related perks like airport lounge access round out the package.
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TD First Class Travel Visa Infinite Card
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Annual fee: $139 (waived first year)
Rewards: 2 to 8 points per dollar
- 8 TD Rewards Points per $1 on travel booked through Expedia For TD
- 6 TD Rewards Points per $1 on groceries, dining and public transit
- 4 TD Rewards Points per $1 on recurring bills and streaming, digital gaming and media
- 2 TD Rewards Points per $1 on all other purchases
Welcome offer: Earn up to $1,400 in value, including up to 165,000 TD Rewards points and no annual fee for the first year. Conditions apply.
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Card details
| Interest rates | 21.99% on purchases, 22.99% on cash advances (21.99% in Quebec), 22.99% on balance transfers (21.99% in Quebec). |
| Income required | Personal income of $60,000 or household income of $100,000 |
| Credit score | 680 or higher (recommended) |
| Anniversary bonus | Earn an annual birthday bonus of 10% of your previous year’s points (up to 10,000 points). |
American Express Cobalt Card
When it comes to included insurance, the Cobalt turns heads with up to $5 million in travel emergency medical, $250,000 of travel accident coverage, flight and baggage delay, lost or stolen luggage, up to $500 in hotel burglary protection, and up to $85,000 in car rental theft and damage coverage. One thing to note is that as an American Express card, it won’t be as widely accepted as Visa cards or Mastercards.
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American Express Cobalt
Annual fee: $155.88 ($150 for Quebec residents)
Effective November 5, 2025: the monthly fee for non-Quebec residents will increase to $15.99 per month ($191.88 annually), and the annual fee for Quebec residents will increase to $191.88 per year.
Rewards: 1 to 5 points per dollar
- 5 points per $1 on dining and groceries
- 3 points per $1 on streaming services
- 2 points per $1 on transit and gas
- 1 point per $1 on all other purchases
Welcome offer: Earn 1,250 points for each month you spend $750, up to a maximum of 15,000 points.
Card details
| Interest rates | 21.99% on purchases and cash advances, 25.99% to 29.99% penalty APR on purchases and cash advances (rates are variable) |
| Income required | None specified |
| Credit score | 725 or higher |
| Point value | 1 Amex Membership Rewards point = $0.01 when redeemed with the Flexible Points Travel Program, $0.015 on average with the Fixed Points Travel Program, and up to $0.02 with airline points transfers |
The bottom line
Back to the National Bank World Elite Mastercard. This credit card has a lot going for it, including an excellent insurance package, boosted earn rates and travel rebates. However, the $150 annual fee is a touch higher than those of other cards in its category, which makes room for other contenders.
Read more about credit cards:
- Best credit cards in Canada
- Canada’s best travel credit cards
- How to improve your credit score
- Worried about your credit rating? Avoid these 5 credit card mistakes
The post National Bank of Canada World Elite Mastercard review appeared first on MoneySense.