Lena Hayes
National Bank World Mastercard Review
The National Bank World Mastercard is a mid-tier travel rewards card that quietly delivers a lot of value through its À la carte Rewards Plan and premium insurance. You can earn up to 2 points per dollar on all your purchases based on your yearly card spend, and you get a very strong suite of travel protections, including out-of-province emergency medical coverage for up to 60 days, trip cancellation and interruption, flight delay and baggage insurance, plus purchase protection and extended warranty. It’s aimed at Canadians with solid income who want flexible rewards and serious insurance without jumping all the way to a World Elite product.
Quick highlights
- 💰 Earn up to 2 points per dollar on all purchases each year, depending on your total annual card spend.
- 📈 Tiered earn structure: 1.25 pts/$ on the first $20,000 in purchases, 2 pts/$ between $20,001 and $30,000, then 1.25 pts/$ again above $30,000.
- 🎯 Points are part of the À la carte Rewards Plan, redeemable for travel, statement credits, investments, mortgage payments, merchandise and more.
- ✈️ Comprehensive travel insurance including emergency medical, trip cancellation and interruption, flight delay and baggage insurance.
- 🏥 Out-of-province emergency medical insurance up to $5 million per person, with coverage up to 60 days for travellers 54 and under (shorter for older ages).
- 🚗 Rental car collision and damage coverage for rentals up to 48 days, plus coverage for personal effects in the vehicle.
- 🛍 Purchase protection and extended warranty on most new items, including protection against theft or breakage for up to 180 days and warranty tripling up to two extra years.
Why we like the National Bank World Mastercard
The National Bank World Mastercard is built for people who want one card that can handle most of their day-to-day spending and their travel insurance needs. Instead of fixed category multipliers, it uses a tiered annual spend model: the more you put on the card up to $30,000 per year, the more points you earn per dollar. If you hit that middle band, you’re earning a solid 2 points per dollar on a sizeable chunk of your spending.
On the benefits side, the card really shines. You get robust travel coverage (including emergency medical, trip cancellation and interruption, flight delay and baggage insurance) plus purchase protection and extended warranty that triple the manufacturer’s warranty on many items. For a $115 annual fee and no standard welcome bonus, it’s very much a long-term value card rather than a “sign-up and cancel” play.
Stand-out features
- ✅ Up to 2 points per dollar on all purchases, based on how much you charge to the card annually.
- ✅ Tiered earn structure that rewards you most on the $20,001–$30,000 portion of your yearly spend.
- ✅ Flexible À la carte Rewards Plan lets you redeem points for travel, statement credits, investments, mortgage payments, gift cards and merchandise.
- ✅ Strong travel insurance package, including emergency medical coverage up to $5 million per person.
- ✅ Trip cancellation and interruption, flight delay and baggage insurance built in when conditions are met.
- ✅ Rental car collision and damage coverage for rentals up to 48 days, with added coverage for personal effects.
- ✅ Purchase protection & extended warranty on most new items, including 180 days of theft/breakage coverage and up to two extra years of warranty.
Good to know
- ⚠️ There is no built-in welcome bonus on the standard offer, although National Bank occasionally runs limited-time promos.
- ⚠️ The higher 2 pts/$ rate only applies to the $20,001–$30,000 band of yearly purchases; below and above that, you’re at 1.25 pts/$.
- ⚠️ You typically need a
(around $50,000+ individual or $80,000 household) to qualify. - ⚠️ Rewards points don’t have a fixed “cash back” value; the value per point depends on how you redeem (travel tends to be stronger).
- ⚠️ Interest rates are fairly standard at 20.99% on purchases and 22.49% on cash advances; carrying a balance will quickly erase your rewards.
- ⚠️ As with all insurance, coverage is subject to eligibility, exclusions and conditions in the certificate — you need to read the fine print.
Pros
- Up to 2 points per dollar on all purchases when your yearly spend falls in the middle tier.
- Flexible rewards program with many redemption options, including travel, statement credits and financial products.
- Very competitive travel insurance package for a mid-tier card, with high emergency medical limits.
- Trip cancellation and interruption, flight delay and baggage coverage included for eligible trips.
- Rental car collision and damage coverage for up to 48 days, including personal effects coverage.
- Purchase protection for 180 days and extended warranty that can add up to two extra years of coverage.
- Accepted at Costco in Canada, which can help you rack up points faster if you shop there regularly.
Cons
- No ongoing welcome bonus or first-year fee rebate in the standard offer.
- Tiered earn structure can feel confusing and requires relatively high annual spend to fully benefit from the 2 pts/$ band.
- Rewards value per point isn’t fixed and can be less transparent than simple cash-back cards.
- Higher minimum income requirement than entry-level cards, which puts it out of reach for some Canadians.
- No airport lounge access or travel credits — for that you’ll need a premium card like a World Elite.
- Standard interest rates; if you carry a balance, this likely isn’t the right card.
Rewards program
The National Bank World Mastercard earns points in the À la carte Rewards Plan. Rather than fixed category multipliers, your earn rate depends on how much you spend across all purchases in a rolling 12-month period starting from account opening.
- On $0–$20,000 in annual purchases: earn 1.25 points per dollar.
- On $20,001–$30,000: earn a boosted 2 points per dollar on this portion of your spending.
- On $30,001 and up: earn 1.25 points per dollar again on additional purchases.
All eligible purchases count toward these thresholds (minus returns and refunds), but things like annual fees, cash advances and balance transfers generally don’t earn points. The structure favours people who can run at least $20,000–$30,000 per year through the card.
How to maximize rewards
-
Aim to hit the $20,000–$30,000 spend band.
The sweet spot is the middle tier where you earn 2 points per dollar. If it fits your budget and you pay in full every month, try to concentrate enough spending on this card to reach that band each year. -
Consolidate everyday spending.
Use the World Mastercard for groceries, gas, restaurants, subscriptions, online orders and other day-to-day purchases to build annual spend and push more of it into the 2 pts/$ tier. -
Add an authorized user (if it makes sense).
Adding a spouse or family member as an authorized user can help you reach the higher earn tier faster, since all their purchases flow into the same annual spend calculation. -
Redeem points where they’re most valuable.
In general, you tend to get better value by redeeming for travel or statement credits than for small merchandise items. Check the À la carte Rewards portal to compare options before redeeming. -
Pair it with a no-fee cash-back card.
If you don’t always hit the $20,000 tier, you might want to keep a simple no-fee card on the side for purchases that fall outside the 2 pts/$ band or categories where another card has a richer earn rate. -
Take full advantage of insurance on big travel bookings.
When you book flights, packages or car rentals, charge them to this card so that you qualify for the included travel insurance and rental car coverage (subject to conditions).
Insurance & benefits
Included coverage
- Out-of-province emergency medical insurance up to $5,000,000 per person, per trip, with maximum trip length based on age:
- Age 54 and under: up to 60 days per trip.
- Age 55–64: up to 31 days per trip.
- Age 65–75: up to 15 days per trip.
- Trip cancellation insurance up to $2,500 per person for eligible prepaid, non-refundable expenses.
- Trip interruption insurance up to $5,000 per person if your trip is cut short or disrupted for covered reasons.
- Flight delay insurance up to $500 per person when your departing flight is delayed more than 4 hours, for eligible meals, accommodation and essentials.
- Baggage insurance including:
- Up to $500 per person for delayed baggage (6+ hours).
- Up to $1,000 per person for lost, stolen or damaged baggage.
- Rental vehicle insurance against collision, theft or damage for eligible rentals up to 48 days, including coverage for personal effects up to $2,000 per rental (max $1,000 per person).
- Purchase protection for new items bought with the card, covering theft or breakage for up to 180 days from the purchase date, up to a lifetime account maximum.
- Extended warranty that can triple the manufacturer’s warranty up to a maximum of two additional years on most eligible items.
- Zero Liability protection for unauthorized transactions plus 24/7 fraud monitoring.
Travel & lifestyle perks
- Comprehensive assistance services providing medical, general and legal assistance while you’re travelling.
- À la carte Travel online agency access to book flights, hotels, car rentals, cruises and packages, with the option to pay with points, cash or a mix of both.
- Flexible travel redemptions — you can often book with the agency or airline of your choice and apply points toward the cost.
- Repay with points by using your rewards directly in your online banking to offset your credit card balance.
- À la carte Extras lets you redeem points toward banking packages, investments or mortgage payments with National Bank.
- Mastercard benefits such as global acceptance, contactless payments and standard World Mastercard perks.
Coverage details, eligibility, exclusions and conditions are set out in the official insurance certificate and summaries. Always review those documents carefully before relying on any specific benefit.
Rates & fees
| Annual fee | $115 for the primary cardholder. |
|---|---|
| Additional cards | Approximately $35 per additional card per year (exact fee subject to National Bank’s current pricing). |
| Purchase APR | 20.99% on purchases. |
| Cash advance & balance transfer APR | 22.49% on cash advances and balance transfers. |
| Grace period | 21-day interest-free grace period on new purchases when you pay your statement balance in full by the due date. No grace period on cash advances or balance transfers. |
| Minimum payment | Typically a small percentage of the statement balance (higher in Quebec) plus any past-due amount or a fixed dollar minimum, whichever is higher. |
| Foreign transaction fees | Standard foreign currency conversion fee applies on purchases made in other currencies (exact percentage set by National Bank). |
| Income requirement | Designed for applicants with a higher income level, often around $50,000+ individual or $80,000+ household income, or equivalent assets/annual purchases. |
Best for
- ✈️ Travellers who want strong, built-in travel insurance without paying for a full World Elite or premium-tier card.
- 🏦 National Bank clients who like the idea of redeeming points toward banking products, mortgage payments or investments.
- 💸 Cardholders who can realistically put $20,000–$30,000 per year on the card to benefit from the 2 pts/$ earn band.
- 🧳 People who travel a few times a year and want coverage for medical emergencies, trip mishaps and baggage issues.
- 🚗 Renters who frequently book rental cars and appreciate included collision and personal effects coverage.
- 🛍 Shoppers who value strong purchase protection and extended warranty on big-ticket items.
Where it falls short
- No ongoing welcome bonus or first-year fee waiver in the standard offer; some competing cards offer large intro perks.
- The tiered earn structure is less intuitive than flat cash back or simple category multipliers.
- You only earn the full 2 pts/$ on a limited band of annual spend; above and below that, you’re back at 1.25 pts/$.
- No airport lounge access or travel credits, which many premium competitors include.
- Higher income requirements than entry-level or no-fee rewards cards.
- Standard interest rates make this a bad choice if you tend to carry a balance.
Customer reviews
Positive feedback
“The travel insurance on the World Mastercard is excellent for a non-World-Elite card. I feel comfortable taking international trips without buying separate insurance.”
“I like that I can use the points in several ways — sometimes I apply them to travel, sometimes straight against my card balance when I’ve had a big month.”
Critiques
“The points system took me a while to understand. It’s annoying that the 2 points per dollar rate only applies between $20k and $30k of annual spend.”
“For the income requirement and annual fee, I kind of wish there was a permanent welcome bonus or some lounge passes included.”
Community insights
Among Canadian credit card and travel points enthusiasts, the National Bank World Mastercard is often seen as a solid but slightly under-the-radar option. It doesn’t get as much attention as some of the big-bank premium travel cards, but people who value insurance frequently highlight how strong the coverage is for a mid-tier product.
The most common feedback is that it’s a great “working card” if you already bank with National Bank and can push enough spend through it to benefit from the 2 pts/$ band. Many users pair it with a different cash-back or category card for purchases that fall outside that sweet spot or for richer grocery/gas multipliers.
AI review (straight talk)
If you’re drawn to this card because of its insurance, you’re looking in the right place. The National Bank World Mastercard is less about flashy sign-up bonuses and more about ongoing, dependable value. The travel coverage and purchase protections are genuinely strong for the annual fee, especially if you travel a few times per year.
On the flip side, the reward structure isn’t as simple or aggressive as what you’ll find on some category-based travel or cash-back cards. You really want to be someone who can put a solid amount of spending on the card — ideally in that $20,000–$30,000 range — and who actually uses the insurance. If that’s you, it’s a very respectable option. If you mostly care about maximizing rewards or chasing huge welcome offers, there are more aggressive competitors.
Alternatives & comparison
| Card | Annual Fee | Top Categories / Earn | Other Purchases | Key Perks | Best For |
|---|---|---|---|---|---|
| National Bank World Mastercard | $115 | Up to 2 pts/$ on all purchases between $20,001–$30,000 in yearly spend | 1.25 pts/$ below $20,000 and above $30,000 | Strong travel insurance, rental car coverage, purchase protection and extended warranty, flexible À la carte Rewards redemptions | General spenders who value insurance and flexibility |
| National Bank World Elite Mastercard | Higher (around $150) | Up to 5 pts/$ on select categories like groceries and restaurants, plus elevated earn on gas, EV charging and recurring bills | 1 pt/$ on other purchases | Richer insurance, annual travel credit, National Bank Lounge access in Montréal, stronger earn rates | Higher-income frequent travellers willing to pay more for perks |
| National Bank Platinum Mastercard | Lower than World | Up to 2 pts/$ on certain spending, depending on card version and promos | Base earn rate on other purchases | Lower fee, access to À la carte Rewards, more modest insurance package | Cardholders who want rewards with a smaller annual fee |
| Typical premium travel rewards card | Often $150–$500+ | Elevated earn on travel, dining and sometimes groceries | 1–2× points depending on issuer | Large welcome bonus, global lounge access, hotel status, statement credits | Frequent travellers who can fully use premium perks and don’t mind higher fees |
FAQ
What is the annual fee for the National Bank World Mastercard?
The annual fee is $115 for the primary cardholder. Additional cards typically carry an extra fee per card, often around $35 per year.
What are the interest rates on this card?
The purchase interest rate is 20.99%, while cash advances and balance transfers usually accrue interest at 22.49%. These are variable and can change, so always check National Bank’s current rates.
How does the rewards program work?
The card earns points in the À la carte Rewards Plan. You earn 1.25 pts/$ on the first $20,000 in annual purchases, 2 pts/$ on the $20,001–$30,000 band, and 1.25 pts/$ again on purchases above $30,000 in a 12-month period from account opening.
What can I redeem À la carte points for?
You can redeem points for travel (flights, hotels, packages, car rentals and more), merchandise and gift cards, statement credits, investments, banking packages and even mortgage payments through National Bank’s À la carte Rewards ecosystem.
Is there a welcome bonus on the National Bank World Mastercard?
The standard offer does not include an ongoing welcome bonus. National Bank sometimes runs limited-time promotions, but these are not permanent features of the card and may change over time.
What travel insurance is included?
You get emergency medical coverage outside your province of residence (up to $5 million per person with trip-length limits by age), plus trip cancellation and interruption, flight delay insurance, and baggage delay, loss and theft coverage when eligibility conditions are met.
Does this card include rental car insurance?
Yes. When you charge your eligible rental to the card and decline the rental agency’s collision damage waiver, you’re typically covered for collision, theft and damage for rentals up to 48 days, along with coverage for certain personal effects in the vehicle, subject to limits and conditions.
Who should consider the National Bank World Mastercard?
This card is a good fit for Canadians with solid income who want strong travel and purchase protections, flexible rewards and a mid-tier annual fee, and who expect to put enough spend on the card to benefit from the 2 pts/$ earn band.
Final verdict & ratings
Our take The National Bank World Mastercard is a very respectable mid-tier travel and rewards card that prioritizes insurance and flexibility over flashy sign-up bonuses. If you travel a few times a year and want robust coverage for medical emergencies, trip issues and baggage, it delivers strong peace of mind for its price point.
The tiered earn structure means it’s not the simplest card on the market, and you’ll want to push at least $20,000–$30,000 of yearly spend through it to get the full benefit. But for the right cardholder — especially existing National Bank clients who can use the extra redemption options — it’s a solid “workhorse” card that quietly does a lot in the background.
| Overall | ★★★★☆ 4.2 / 5 |
|---|---|
| Rewards value | 4.0 / 5 — competitive if you can reach the 2 pts/$ band, but less compelling below that. |
| Benefits & protections | 4.5 / 5 — excellent travel, rental car and purchase coverage for a non-World-Elite card. |
| Fees & costs | 3.9 / 5 — reasonable annual fee, standard interest rates and no built-in welcome bonus. |
| Ease of approval | 3.7 / 5 — higher income requirements than basic or no-fee rewards cards. |
