National Bank World Elite Mastercard is worth the hype, and a lot more

Carl, a long time reader, sent me this message last week, “Seems to be a bit of hype about National Bank WE Mastercard, would you recommend it?”. And my instinctive response to that was, ‘Sure is!’. This post is to elaborate on my confidence in the value National Bank World Elite Mastercard holds for Canadians. For starters, here are 5 reasons why you should have the card in your wallet;

• • Limited-time offer – 70,000 welcome bonus points, for all new cardholders (or those that did not own NBC card in last 24 months) that apply before January 13, 2023
  • First Year annual fee waiver
  • Elevated earning at grocery stores and restaurant purchases – 5 points per dollar
  • $150 in travel fee refunds – expenses include, airport parking fees, baggage fees, seat selection fees, lounge access, and ticket upgrade
  • Lounge access – free and unlimited access (with one guest) to the National Bank World Mastercard Lounge at YUL airport

Let’s take a closer look at the limited-time offer, and the redemption options;

National Bank World Elite^® Mastercard^®  – Apply Now 

• Eligibility: Personal income of $80,000 or a minimum household income of $150,000
• Annual Fee: $150 CAD No fee for first year
  • The annual fee will appear as a charge and credit on the second or third statement after the account is opened
• Welcome Bonus Offer:
  • Up to 70,000  points (Apply by January 13, 2023) for new clients only
    • 30,000 reward points with $5,000 spend in the first 3 months of opening account
    • 10,000 reward points with sign up of credit card payment insurance for minimum 3 months
    • 30,000 reward points with net spend of $12,000 in the first 12 months of opening account
• Earning Rate:
  • 5 points per dollar on all grocery and restaurant purchases (until a total of $2,500 in gross monthly purchases charged to the account, 2 points/dollar thereafter)
  • 2 points per dollar on gas, electric vehicle charging, recurring bill payments, and À la carte Travel™ purchases
  • 1 points per dollar on all other purchases
• Additional Benefits: 
  • $150 in travel-fee refunds. Eligible expenses include, airport parking fees, baggage fees, seat selection fees, lounge access, and ticket upgrade
  • Free and unlimited access along with one guest to the National Bank World Mastercard Lounge at YUL airport
  • Extensive Insurance Coverage
    • Flight cancellation or trip interruption insurance
    • Delayed flight and stolen luggage insurance
    • Stolen or lost luggage insurance
    • Out-of-province hospital medical insurance
    • Vehicle rental insurance
    • Medical, legal or general assistance
    • Extended manufacturer’s warranty on purchases 
    • Purchase Protection Insurance

Refer to National Bank page for up to date offer terms and conditions

Redeeming National Bank Rewards

• • Best Value: Members can redeem points at 1 cent a piece when booking flights and vacation packages directly with the À la carte Travel™ Agency powered by Transat. 10,000 points  = $100
  • Statement Credit towards travel expenses: Redeem points for any travel expenses already charged to your card.
    • 11,000 points = $100 when redeeming more than 55,000 points
    • 12,000 points = $100 (up to 55,000 points)
  • Financial Rewards: Members can redeem points for National Bank products like Banking plans, Mortgage payments, or investing in RRSP and TFSA products
  • Statement Credits: Members can also apply their points towards credit card balance, at 0.4 Cents per point. 25,000 points = $100

Take Away

Purely around value proposition, the card yields a minimum $1000 CAD in value during first year;

• • 70,000 welcome bonus = $700 in travel credits (10,000 = $100)
  • First Year Annual Fee waiver = $150
  • Annual travel Fee refund = $150

Add to this the evelated earn rates, comprehensive travel insurance, unlimited lounge access for two, and you have a card that yields MUCH more than $1000 in value, yearly.

Carl, I hope you are reading this, and will find the hype around the National Bank World Elite Mastercard justified 🙂