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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 National Bank World Elite MasterCard is a versatile credit card offering various rewards and benefits for users. This review will discuss the earning potential, benefits, drawbacks, and other relevant information to help you determine if this card is suitable for your needs.

Earning potential

With the National Bank World Elite MasterCard, cardholders can earn points for every dollar spent. The reward rates are as follows:

• 3 points per $1 spent on travel, dining, and entertainment





• 2 points per $1 spent on other categories

This generous earning structure allows cardholders to accumulate points quickly and redeem them for travel, cashback, or other rewards.

Benefits

1. Comprehensive Travel Insurance: One of the major advantages of this card is the extensive travel insurance coverage provided. Cardholders benefit from out-of-province medical emergency coverage, trip cancellation and interruption insurance, baggage insurance, and more.
   
   This gives users peace of mind while traveling and can save money on purchasing additional insurance.





2. Lounge Access and Concierge Service: The National Bank World Elite MasterCard offers cardholders complimentary LoungeKey access, providing entry to over 1,000 airport lounges worldwide. Additionally, the card includes a concierge service to help plan travel, entertainment, and dining experiences.





3. Financial Flexibility: This card offers users financial flexibility with a generous credit limit and the option to choose between various interest rates. Cardholders can opt for a variable rate based on the National Bank’s prime rate or a fixed-rate interest option.





4. Cashback Redemption Flexibility: With this card, you have the flexibility to redeem points for cashback directly on your credit card statement. This gives you the option to reduce your balance, pay for recent purchases, or use the cashback for future spending.

Drawbacks

1. Annual Fee: One significant drawback to the National Bank World Elite MasterCard is the annual fee of $150. While the card does provide various benefits and earning potential, users must weigh the value of these against the annual cost.





2. Limited Availability and Eligibility: The card is limited to Canadian residents with a minimum annual income of $80,000 (individual) or $150,000 (household). These requirements may exclude some potential users who cannot qualify based on their income or location.

Additional information

National Bank World Elite Mastercard occasionally offers promotions for new users, such as bonus points or other incentives, which can further increase the card’s value. It is essential to review the latest offers before applying to make an informed decision.

In conclusion, the National Bank World Elite MasterCard offers a strong mix of earning potential, travel perks, and redemption flexibility. However, potential users should carefully evaluate whether the benefits outweigh the annual fee and eligibility criteria.

Is the National Bank World Elite MasterCard not convincing you? Consider the National Bank Platinum MasterCard or the National Bank World MasterCard. Still not the right credit card? Make sure not to miss the National Bank MC1 MasterCard.

FAQ

Key benefits

• 1.5 points earned per $1 spent on all eligible purchases





• 2 points earned per $1 spent on dining, grocery, and entertainment purchases





• 3 points earned per $1 spent on travel-related purchases





• Redeem points for flights, merchandise, gift cards, or cashback





• Zero liability protection against unauthorized purchases





• Enhanced coverage: rental car collision and travel medical insurance





• Trip cancellation and interruption insurance coverage





• Access to airport priority lanes and fast track at select airports





• Emergency travel assistance available 24/7





• Safe online shopping with MasterCard SecureCode





• Mobile device insurance included





• Personalized travel planning services