National Bank World Mastercard
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Card Summary:
This credit card has an annual fee of $115, with additional cards available for $35 each. The purchase interest rate is 20.99%, while balance transfers and cash advances have an interest rate of 22.49%. It offers robust insurance and rewards programs. To qualify, you need an individual income of at least $60,000 or a household income of $100,000.
Rewards Summary:
With this credit card, you earn 1.25 points for every dollar spent on the first $20,000 in purchases. After that, you earn 2 points per dollar on the next $10,000 spent, up to a total of $30,000. Once you exceed $30,000, you go back to earning 1.25 points per dollar. The rewards ratio translates to approximately 0.5% cash back based on repayment values.
Benefits Summary:
This credit card comes with a minimum credit limit of $5,000. It also offers flexibility in redeeming your points, allowing you to choose how and when to use your rewards to best suit your needs.
Insurance Summary:
This credit card offers comprehensive insurance and protection benefits, including:
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- Trip cancellation insurance and trip interruption insurance to cover non-refundable expenses if your travel plans change unexpectedly.
- Out-of-province-of-residence medical/hospital insurance to cover medical emergencies while traveling.
- Flight delay insurance to compensate you for delays.
- Baggage insurance in case of delay, theft, or loss.
- Vehicle rental insurance for coverage on rental cars.
- Medical, general, and legal assistance for help during emergencies.
- Extended warranty to extend the warranty period on purchases.
- Purchase protection to cover theft or damage of your purchases.
- Zero Liability to protect you from unauthorized transactions.
Editor’s Review
National Bank World Mastercard Review
The National Bank World Mastercard is renowned for its exceptional insurance coverage, making it a prime choice for individuals seeking robust protection. However, the card’s high annual fee and relatively low rewards ratio may be deterrents for some.
Card Summary:
- Annual Fee: $115
- Additional Card Fee: $35 each
- Interest Rates: 20.99% (purchases), 22.49% (balance transfers and cash advances)
- Income Requirement: $60,000 individual / $100,000 household
- Minimum Credit Limit: $5,000
Rewards Program:
- 1.25 points per dollar on the first $20,000 in purchases
- 2 points per dollar on the next $10,000 spent (total up to $30,000)
- 1.25 points per dollar after exceeding $30,000
- Rewards Ratio: Approximately 0.5% cashback based on repayment values
Benefits:
- Flexible Point Redemption: Choose how and when to use your rewards
- Minimum Credit Limit: $5,000
Insurance Coverage:
- Trip Cancellation and Interruption Insurance: Covers non-refundable expenses if travel plans change unexpectedly
- Out-of-Province-of-Residence Medical/Hospital Insurance: Covers medical emergencies while traveling
- Flight Delay Insurance: Compensation for delays
- Baggage Insurance: Coverage for delay, theft, or loss of baggage
- Vehicle Rental Insurance: Coverage on rental cars
- Medical, General, and Legal Assistance: Help during emergencies
- Extended Warranty: Extends the warranty period on purchases
- Purchase Protection: Covers theft or damage of purchases
- Zero Liability: Protects from unauthorized transactions
Pros and Cons
Pros:
- Extensive and comprehensive insurance coverage
- Flexible rewards redemption
- High minimum credit limit
Cons:
- High annual fee
- Low rewards ratio with complex tiered system
- High-income eligibility requirements
Who is this card for?
This card is ideal for individuals who:
- Travel frequently and require extensive insurance coverage
- Spend heavily enough to reach higher rewards thresholds
- Have a high enough income to meet eligibility requirements
- Value flexibility in redeeming rewards
Comparison with Similar Cards
| Feature | National Bank World Mastercard | BMO World Elite Mastercard | RBC Avion Visa Infinite |
|---|---|---|---|
| Annual Fee | $115 | $150 | $120 |
| Purchase Interest Rate | 20.99% | 19.99% | 19.99% |
| Rewards | Up to 2 points per dollar | Up to 3 points per dollar | Up to 1.25 points per dollar |
| Travel Insurance | Extensive | Comprehensive | Extensive |
| Income Requirement | $60,000 individual / $100,000 household | $80,000 individual / $150,000 household | $60,000 individual / $100,000 household |
Final Verdict
The National Bank World Mastercard excels in providing unparalleled insurance coverage, making it an outstanding option for travelers who prioritize protection. However, the high annual fee and complex rewards structure may not appeal to everyone. Potential cardholders should weigh the benefits of the comprehensive insurance coverage against the costs and rewards limitations to determine if this card aligns with their financial and travel needs.
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