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Performance test results

At DollarWise, for each credit card we test 7 different factors including the rewards, value for money, perks, insurance, strengths and weaknesses of the card.

You can see our full testing methodology here to learn why we're the most trusted source for credit card reviews.

The {{card.name}} has earned a {{ranking}} DollarWise Rating out of 5. This score is based on a weighted average of the two highest scoring factors (excluding acceptance and approval).

The highest scoring categories for the {{card.name}} are {{score_1}} and {{score_2}}.

These factors are weighted 70% to the highest scoring factor and 30% to the second highest score to get an overall review score.

This weighting allows us to judge cards on their merits and the customers they are designed for.

For the {{card.name}} the most important factors for scoring this card are its {{score_1}} and {{score_2}}.

Rewards

With the {{card.name}}, here's the rates at which you earn rewards for different spending categories per dollar you spend:

Calculating your annual rewards

We estimate that spending {{monthlyspend}} per month with the {{card.name}} would earn {{card.rewards}} in rewards over the year.

Our performance testing research uses an accurate estimation of the average Canadian households spending patterns to predict the rewards a card will earn.

We found that you'd earn this per category:

Our study investigating the value found that each dollar spent on the {{card.name}} is worth up to {{card.max_reward}}, depending on how you redeem.

This {{card.rewards}} in rewards value puts the {{card.name}} in the {{decile.annual_rewards}} of credit cards in Canada based on rewards earned.

The average credit card in our database earns {{averages.mean_annual_rewards}} in rewards for the same spend that the {{card.name}} earns {{card.rewards}} in rewards value.

We can compare this card to other options by looking at the earn rate by category.

This earn rate is the percentage return that you would get when you spend on this card, assuming you redeem at the predicted maximum value.

For example, if a card earned 5 points per dollar on gas and each point is worth up to $0.02, then the earn rate is 5 points multiplied by $0.02 each, divided by the dollar you spent.

In this example, that's a 10% earn rate on gas.

For an annual spend of {{annualspend}}, we estimated annual rewards value at up to {{total_net_rewards}}.

That's equivalent to a {{total_earn_rate}} return on spending.

The {{card.name}} has an annual fee of {{card.annualFee}}. After deducting this, we predicted net annual rewards of {{net_after_fee}}.

This puts it in the {{decile.net_annual_rewards}} of credit cards for net rewards after fees.

In comparison, the average card earns net annual rewards of {{averages.mean_net_annual_rewards}}.

Fees

The {{card.name}} has a {{card.annualFee}} annual fee.

The average card charges {{averages.mean_annual_fee}}. So, the {{card.name}} is in the {{decile.annual_fee}} of cards based on the cost of the annual fee.

Perks

We manually review the perks of each credit card to determine how they compare to other cards.

The {{card.name}} scored a {{factor_score_perks}} out of 5 for perks, putting it in the {{decile.factor_score_perks}} of cards.

The average card scores {{averages.mean_factor_score_perks}} out of 5 for perks.

Interest Rates

The average (median) credit card has a purchase interest rate of {{averages.median_purchase_interest_rate}} and so the {{card.name}} charges {{purchase_interest_diff}} than the average.

For cash advances it costs {{cash_advance_interest_rate}}% compared to the average of {{averages.mean_cash_advance_interest_rate}}.

Testing the {{card.name}} with a $2,000 starting balance, you can see in the graph how the {{purchase_interest_diff}} in interest rates impacts the interest over a year, compared to the average card.

Insurance coverage

We scored it {{factor_score_insurance}} out of 5 for insurance.

It offers {{insurance_count}} types of insurance, whereas the average card has {{averages.insurance_count}} types of coverage.

Approval and qualifying

We scored it {{factor_score_approval}} out of 5 for approval.

We predict that you will require a credit score of at least {{credit_score_low}} to qualify for the {{card.name}}, while the average card requires {{averages.mean_credit_score_low}} to qualify.

This puts it in the top {{decile.credit_score_low}} of cards by approval difficulty.

The personal income requirements are {{personal_income}}, while the average card requires {{averages.mean_personal_income}}.

This puts it in the {{decile.personal_income}} of cards by the income required to qualify.

The Air France KLM World Elite MasterCard is designed for frequent flyers seeking to earn rewards and access exclusive benefits with Air France, KLM, and their partner airlines.

In this review, we will evaluate the card’s earning potential, highlight its main benefits and drawbacks, and share some additional information to help determine if this card is right for you.

Earning potential

Cardholders will earn Flying Blue Miles for every dollar spent on eligible purchases. The earning rates are as follows: 3 Miles per $1 spent on Air France, KLM, and partner airlines; 1.5 Miles per $1 spent on dining, groceries, and gas and 1 Mile per $1 spent on all other eligible purchases.

These reward rates make it an attractive option for those who often fly with Air France, KLM, or their partner airlines.

Benefits

1. Welcome Bonus: Upon new account approval, cardholders will receive a generous bonus of 25,000 Flying Blue Miles after spending $1,000 on eligible purchases within the first three months.





2. Complimentary Lounge Access: Cardholders receive special airport lounge access, with one priority pass visit per year to more than 1,000 airport lounges worldwide.





3. Insurance Coverage: The Air France KLM World Elite MasterCard comes with comprehensive travel and purchase protection insurance.
   
   This includes travel medical insurance, trip cancellation and trip interruption coverage, car rental loss and damage insurance, purchase protection, and extended warranty coverage.





4. Annual Travel Credit: Cardholders receive an annual $100 discount on select Air France or KLM airline tickets as a reward for spending at least $10,000 in a calendar year.

Drawbacks

1. Annual Fee: This credit card comes with an annual fee of $120, which may be off-putting for those who do not travel frequently enough to take advantage of its benefits.





2. Limited Flexibility: While earning Flying Blue Miles is useful for Air France, KLM, and partner airline flights, these rewards may not be as valuable to those wanting more flexibility, such as redeeming points for travel with multiple carriers, or specific airlines outside of the Flying Blue network.

Additional information

The Air France KLM World Elite MasterCard is designed especially for frequent flyers of these airlines and their partners, who can maximize the card’s rewards and benefits. However, for individuals seeking more flexibility in their travel rewards, it may not be the ideal choice.

If you fall into the target demographic and can take full advantage of the card’s offerings, it could prove to be a valuable tool in your wallet. Otherwise, it is advisable to consider alternative credit card options that better align with your individual spending habits and travel needs.

Not the right fit? You could consider the Vancity enviro Classic Visa (Low Rate Rewards). Or, if you’re looking for other options check out the Stack Prepaid Mastercard, and the Brim World Elite Mastercard.

FAQ

Key benefits

• Annual fee: $120





• Additional card fee: $50 per card





• Welcome bonus: Up to 35,000 bonus miles after meeting minimum spend





• Earning rate: 1.5 miles per $1 on eligible purchases, 3 miles per $1 on Air France-KLM spending





• Annual complementary bonus: 3,000 miles upon reaching $15,000 annual spend





• Minimum income requirement: $20,000 personal or $50,000 household





• Interest rates on purchases: 20.99%





• Interest rates on cash advances: 22.99%





• Foreign currency conversion: 2.5% fee applied to transactions in other currencies





• Travel insurance & roadside assistance: Included (various coverage limits)





• Miles redemption options: Flights, hotels, car rentals, and more with SkyTeam partners





• Special travel perks: Air France-KLM exclusive benefits when flying with these airlines, such as priority boarding, check-in, and limited airport lounge access





• Customer service: 24/7 support, including emergency card replacement





• Cardholder program: Membership in the Flying Blue program