Desjardins Odyssey World Elite Mastercard Review

3.74

$130

Annual Fee

$540

Annual Rewards

N/A

Intro Offer

$130

Annual fee

$540

Annual rewards

N/A

Intro offer


Pros


  • Comprehensive travel insurance coverage
  • Travel rewards program with flexible redemption options
  • 3% cashback on travel purchases
  • 2% cashback on groceries, entertainment, and public transportation
  • 1% cashback on other eligible purchases
  • No foreign transaction fees
  • Airport lounge access and concierge service
  • Car rental perks and exclusive discounts

Cons


  • $150 annual fee
  • Limited access to road assistance services
  • Lower cashback rates for certain categories compared to other cards
  • High personal income requirement ($120,000 individual / $200,000 household)

How you earn rewards

Each card earns rewards differently. Part of choosing your card is deciding what type of rewards you want to get. With Desjardins Odyssey World Elite Mastercard, here’s how you earn rewards:

Bills2%
Pharmacy2%
Gas2%
Groceries3%
Restaurants / Delivery2%
Specific Stores2%
Travel2%
All Other Spend2%

How much your rewards are worth

The dollar value of your rewards depends on the specific Desjardins Group rewards program and what you choose to redeem your points for.

For Desjardins Odyssey World Elite Mastercard in particular, if you spend $2,000 per month, here’s our estimated rewards earned depending on which reward you choose:

Redemption methodAnnual rewards
Redeem for travel$540
Charity$540
Gift cards$518
Merchandise$497
Movie rewards$540
Desjardins financial products$540

Calculating your annual rewards

$24,000 annual spending x {{max_earn_rate}}% return on spending = $540 annual rewards

$540 annual rewards – $130 annual fee = $$410 net annual rewards

Details and eligibility

Do I qualify?
Estimated Credit Score760 – 900
Personal Income$80,000
Household Income$150,000
Interest Rates
Purchase19.9%
Cash Advance19.9%
Balance Transfer19.9%
Fees
Annual Fee$130
Card typeMasterCard

Insurance coverage

Extended Warranty1 year
Purchase Protection90 days
Emergency Medical Term60 days
Emergency Medical over 6515 days
Trip Cancellation$2,500
Flight Delay$2,000
Baggage Delay$500
Lost or Stolen Baggage$1,000
Rental Car Theft & DamageYes
Mobile Phone Insurance$1,000

Desjardins Odyssey World Elite Mastercard Review

The Desjardins Odyssey World Elite Mastercard is a versatile travel rewards credit card that offers a variety of earning potentials and benefits for cardholders.

In this review, we’ll take a closer look at the Odyssey World Elite Mastercard’s earning potential, as well as four key benefits, two drawbacks, and additional information that you might find helpful in determining if this card is right for you.

Earning potential

The Desjardins Odyssey World Elite Mastercard earns BONUSDOLLARS on all eligible purchases. Cardholders earn 2% for purchases made at grocery stores, restaurants, and public transportation (including taxis and rideshares) as well as on recurring payments.

Additionally, they earn 1.5% on all other purchases made. BONUSDOLLARs can be redeemed for travel, merchandise, gift cards, or as statement credits.

Benefits

  1. Comprehensive Travel Insurance: One of the major advantages of this card is its comprehensive travel insurance coverage. Cardholders receive coverage for trip cancellation/interruption, baggage loss/damage/delay, emergency medical expenses, and more.

    This can provide peace of mind when traveling and save on the cost of purchasing separate travel insurance.
  2. Airport Lounge Access: Another advantage of the Desjardins Odyssey World Elite Mastercard is complimentary airport lounge access. Cardholders receive six free Priority Pass lounge visits per year, in addition to unlimited access to Desjardins Odyssey lounges in Montreal-Trudeau International Airport.
  3. Mobile Device Insurance: This card offers mobile device insurance for smartphones, tablets, and smartwatches. With coverage up to $1,000 per device, cardholders can avoid paying for additional insurance through their mobile carriers, which can result in potential cost savings.
  4. Concierge Service: Desjardins Odyssey World Elite Mastercard cardholders have access to a dedicated concierge service, available 24/7. This service can assist with travel planning, restaurant recommendations and reservations, event ticket bookings, and more, adding a touch of luxury to the cardholder experience.

Drawbacks

  1. High Annual Fee: One of the significant drawbacks of this card is its high annual fee of $130. In order to justify this expense, cardholders must ensure they take advantage of the benefits and rewards offered. For some individuals, the features may not outweigh the cost of the annual fee.
  2. No Sign-Up Bonus or Promotional Offer: The Desjardins Odyssey World Elite Mastercard currently does not provide a sign-up bonus or promotional offer for new cardholders. Many competing travel cards offer enticing welcome offers, which can make it harder to justify choosing this card over other available options.

Additional information

Keep in mind that the Desjardins Odyssey World Elite Mastercard requires a minimum annual income of $80,000 for individuals or a minimum household income of $150,000. This requirement may not be feasible for all applicants; however, it is typical for cards with this level of benefits and rewards.

In conclusion, the Desjardins Odyssey World Elite Mastercard can be an attractive option for Canadians looking for a travel rewards card with robust benefits. The comprehensive travel insurance coverage, airport lounge access, mobile device insurance, and concierge service may outweigh the high annual fee for some users.

However, for those who do not already use these benefits or cannot meet the income requirements, alternative card options may be more appropriate.

Interested in other credit cards? Canadians that like the Desjardins Odyssey World Elite Mastercard credit card also like the Desjardins Visa Odyssey Gold. If you’re looking for other options you should consider the Desjardins Odyssey Visa Infinite Privilege, and the Desjardins Bonus Visa.

FAQ

With the Desjardins Odyssey World Elite Mastercard, cardholders can redeem their points for a wide variety of rewards, including:

  • Travel rewards: Use your points to book flights, hotels, cruises, car rentals, and vacation packages with no blackout periods and no advance booking restrictions.
  • Gift cards and merchandise: Redeem your points for gift cards from popular retail, dining, and entertainment establishments or for merchandise from leading brands.
  • Mobility rewards: Use your points to pay for various mobility services like public transportation passes, car-sharing subscriptions, and Uber or Lyft credits.
  • Financial rewards: Apply your points towards savings products at Desjardins, such as RRSPs, TFSAs, or RESPs, or redeem them as a statement credit.
  • Charitable donations: Donate your points to a selection of charitable organizations, contributing to their important causes.

The Desjardins Odyssey World Elite Mastercard does not charge any foreign transaction fees. This means that when you use this credit card to make purchases in a foreign currency, you will not be subject to any fees for converting the currency.

This can be particularly beneficial for travelers or those who frequently make international purchases, as it helps to save money on foreign exchange fees that other cards may charge.

The Desjardins Odyssey World Elite Mastercard has a minimum income requirement of $80,000 CAD for an individual applicant, or a combined household income of at least $150,000 CAD. This requirement ensures that cardholders have the financial means to manage their credit and enjoy the card’s benefits.

Key benefits

  • Mastercard World Elite benefits including Priceless Cities experiences
  • BONUSDOLLARS rewards program with 1 BONUSDOLLAR equal to $1
  • Emergency travel assistance with referrals for medical, legal and other services
  • Zero liability protection against unauthorized card use
  • Option to add supplementary cardholders at no additional cost
  • Purchase protection and extended warranty on eligible items
  • Access to free mobile device insurance up to $1,000
  • Complimentary subscription to Mastercard Airport Experiences by LoungeKey
  • Legal assistance services and identity theft assistance
  • 5% BONUSDOLLARS on prepaid travel packages
  • Secure online payment with 3-D Secure technology
  • Ability to donate rewards to charity, education savings or other Desjardins products

About The Author