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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 Brim World Elite Mastercard is a versatile credit card that aims to provide excellent earning potential and added benefits. In this review, we will discuss the earning potential, benefits, and drawbacks of this credit card, as well as any other relevant information.

Earning potential

 The Brim World Elite Mastercard offers 2% cash back on three categories of your choice, and 1% cash back on all other purchases. This allows cardholders to maximize their rewards potential by choosing categories that align with their spending habits, such as dining, travel, or grocery purchases.

Benefits

1. No Foreign Transaction Fees: One major advantage of this card is its lack of foreign transaction fees. This makes it an excellent option for travellers or those who often shop online in foreign currencies.
   
   Cardholders can enjoy worldwide purchases without incurring additional foreign transaction fees, ultimately saving money on international transactions.





2. Travel Insurance Package: Another major advantage of the Brim World Elite Mastercard is its robust travel insurance package. The card provides up to $1 million in travel medical coverage, as well as coverage for trip cancellation, trip interruption, baggage loss and damage, and car rental collision.
   
   This comprehensive coverage offers peace of mind for travellers and serves to protect their investments in case of unexpected events.





3. Complimentary Boingo Wi-Fi Access: The Brim World Elite Mastercard also offers cardholders access to complimentary Boingo Wi-Fi at over 1 million hotspots worldwide. This perk allows cardholders to stay connected while travelling or working remotely without having to pay for internet access at hotels, airports, and other locations.





4. Welcome Offer: The card also comes with a welcome offer of earning up to 30,000 bonus points when certain spending requirements are met within the first 90 days of account opening. This can help jumpstart a cardholder’s rewards earnings and offset the cost of the annual fee.

Drawbacks

1. Annual Fee: A significant drawback of the Brim World Elite Mastercard is its annual fee of $199. This fee might deter potential cardholders who are looking for a more budget-friendly card option. It’s important to assess whether the rewards and benefits of the card outweigh the cost of the annual fee in your particular situation.





2. Tiered Rewards Limitation: Another drawback is that, although the card offers a tiered rewards system allowing consumers to choose 3 categories for 2% cash back.
   
   Some competitors offer higher reward rates across more categories without the need to choose. This limitation might make it difficult for some users to maximize their rewards earnings with the Brim World Elite Mastercard.

Additional information

In conclusion, the Brim World Elite Mastercard can be a valuable choice for consumers seeking a credit card with no foreign transaction fees, comprehensive travel insurance, and customizable reward categories.

However, it’s important to weigh the benefits against the drawbacks, such as the annual fee and the limited earning potential compared to some competitors’ cards.

Interested in other credit cards? Canadians that like the Brim World Elite Mastercard credit card also like the Tangerine World MasterCard. If you’re looking for other options you should consider the Air France KLM World Elite MasterCard, and the Stack Prepaid Mastercard.

FAQ

Key benefits

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