National Bank World MasterCard Review

3.41

$115

Annual Fee

$315

Annual Rewards

N/A

Intro Offer

$115

Annual fee

$315

Annual rewards

N/A

Intro offer


Pros


  • Comprehensive travel insurance coverage
  • Generous rewards program with 2.5 points per dollar spent on eligible purchases
  • No foreign currency conversion fees
  • Exclusive access to the World Lounge in Montreal-Trudeau Airport
  • 0% Balance transfer offer for the first 10 months (subject to a 3% transfer fee)
  • Mobile device insurance of up to $1,000

Cons


  • $150 annual fee
  • Limited availability outside of Quebec
  • Less extensive list of merchant partners compared to other rewards programs
  • Balance transfer offer only applies to new cardholders
  • High minimum credit limit of $5,500 may make it harder for some applicants to qualify

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 National Bank World MasterCard has earned a 3.41 DollarWise Rating out of 5. This score is based on a weighted average of the two highest scoring factors (excluding acceptance and approval).

Rewards

Fees

Perks

Interest rates

Insurance

Acceptance

Approval

The highest scoring categories for the National Bank World MasterCard are insurance and interest.

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 National Bank World MasterCard the most important factors for scoring this card are its insurance and interest.

Rewards

With the National Bank World MasterCard, here’s the rates at which you earn rewards for different spending categories per dollar you spend:

Bills1.25 points
Pharmacy1.25 points
Gas1.25 points
Groceries1.25 points
Restaurants1.25 points
Specific Stores2.5 points
Travel1.25 points
All Other Spend1.25 points

Calculating your annual rewards

We estimate that spending $2,000 per month with the National Bank World MasterCard would earn $315 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:

Specific Stores$30
All Other Spend$285

Our study investigating the value found that each dollar spent on the National Bank World MasterCard is worth up to $0.01, depending on how you redeem.

This $315 in rewards value puts the National Bank World MasterCard in the bottom 50% of credit cards in Canada based on rewards earned.

The average credit card in our database earns $337 in rewards for the same spend that the National Bank World MasterCard earns $315 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.

SpendThis CardAverage
Bills1.25%1.25%
Pharmacy1.25%1.17%
Gas1.25%1.48%
Groceries1.25%1.71%
Restaurant1.25%1.53%
Store2.50%1.94%
Travel1.25%1.19%
Other1.25%1.08%
Above, we’ve calculated the earn rate for the National Bank World MasterCard for every spend category and compared it to the average for all Canadian credit cards.
Redemption methodAnnual rewards
Transfer to partner airlines$315
Apply to statement credit$287
Gift cards$243
Merchandise$255
Make investments$261
Banking plans$315

For an annual spend of $24,000, we estimated annual rewards value at up to $315.

That’s equivalent to a 1.31% return on spending.

The National Bank World MasterCard has an annual fee of $115. After deducting this, we predicted net annual rewards of $200.

This puts it in the bottom 40% of credit cards for net rewards after fees.

In comparison, the average card earns net annual rewards of $254.

Fees

The National Bank World MasterCard has a $115 annual fee.

The average card charges $85. So, the National Bank World MasterCard is in the top 40% 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 National Bank World MasterCard scored a 1.3 out of 5 for perks, putting it in the bottom 50% of cards.

The average card scores 1.6 out of 5 for perks.

Interest Rates

Purchase20.99%
Cash Advance22.49%
Balance Transfer22.49%

The average (median) credit card has a purchase interest rate of 19.99% and so the National Bank World MasterCard charges 1% more than the average.

For cash advances it costs 22.49% compared to the average of 19.96%.

Testing the National Bank World MasterCard with a $2,000 starting balance, you can see in the graph how the 1% more in interest rates impacts the interest over a year, compared to the average card.

Insurance coverage

InsuranceThis CardAverage
Extended Warranty2 years1 year
Purchase Protection180 days90 days
Emergency Medical Term60 days15 days
Emergency Medical over 6515 days4 days
Trip Cancellation$2,500$1,500
Trip Interruption$5,000$2,000
Flight Delay$500$500
Baggage Delay$500$500
Lost or Stolen Baggage$1,000$1,000
Rental Car Theft & DamageYesNo
Rental Car Personal Effects$2,000$1,000

We scored it 3.8 out of 5 for insurance.

It offers 11 types of insurance, whereas the average card has 5 types of coverage.

Approval and qualifying

Do I qualify?
Estimated Credit Score725 – 759
Personal Income$60,000
Household Income$100,000
Fees
Annual Fee$115
Extra Card Fee$0
Card typeMasterCard

We scored it 2.5 out of 5 for approval.

We predict that you will require a credit score of at least 725 to qualify for the National Bank World MasterCard, while the average card requires 652 to qualify.

This puts it in the top top 50% of cards by approval difficulty.

The personal income requirements are $60,000, while the average card requires $23,896.

This puts it in the top 20% of cards by the income required to qualify.

The National Bank World MasterCard is a versatile and valuable credit card for users looking to maximize their earning potential across various spending categories. In this review, we will discuss the card’s numerous benefits, as well as highlight two notable drawbacks, and provide other relevant information for prospective users.

Earning potential with the card

The National Bank World MasterCard offers reward points that can be used towards a variety of redemption options, including travel, merchandise, gift cards, and more. Cardholders will earn 2 points per dollar spent on travel, dining, and entertainment purchases.

Additionally, users will receive 1.5 points per dollar spent on gas, grocery, and pharmacy purchases, and 1 point per dollar spent on all other purchases. This flexible reward system allows cardholders to optimize their reward-earning opportunities based on their individual spending habits.

Benefits

  1. Comprehensive Insurance Coverage: The first major advantage of the National Bank World MasterCard is its comprehensive insurance coverage. Cardholders enjoy a wide range of protection features, such as travel medical insurance, trip cancellation and interruption insurance, baggage loss or delay insurance, car rental insurance, and extended warranty and purchase protection.

    This comprehensive coverage offers peace of mind for cardholders while traveling or making major purchases.
  2. Airport Lounge Access via LoungeKey Program: The second major advantage of this credit card is the included access to airport lounges through the MasterCard Airport Experiences provided by LoungeKey program.

    Cardholders can enjoy a more relaxing and comfortable travel experience with complimentary access to over 1,000 airport lounges worldwide by paying a reduced-price fee per visit.
  3. Accelerated Reward Point Earnings: The third major advantage of the National Bank World MasterCard is the potential for accelerated reward point earnings through the À La Carte Rewards Plan.

    Cardholders can take advantage of exclusive promotions and offers to earn bonus points on select purchases, enabling them to accumulate points more quickly for faster redemptions.
  4. Easy Point Redemption: The fourth major advantage of this credit card is the ease of point redemption. With a user-friendly online platform, cardholders can easily redeem their points for travel, merchandise, gift cards, or even statement credits. This flexibility ensures that all users can find value in their reward points, regardless of their preferred redemption options.

Drawbacks

  1. High Annual Fee: A significant drawback of the National Bank World MasterCard is the relatively high annual fee of $150. While this cost is partially offset by the card’s various benefits and rewards, it may be prohibitive for some users who may not maximize the card’s full potential.
  2. High Income Requirement: Another drawback of this credit card is the requirement for a minimum annual income of $60,000 (individual) or $100,000 (household) for eligibility. This income benchmark may exclude some potential cardholders who would otherwise benefit from the card’s features.

Additional information

In conclusion, the National Bank World MasterCard offers a diverse range of benefits that can provide considerable value for eligible cardholders. While the relatively high annual fee and minimum income requirement may be drawbacks for some, those who fully utilize the card’s rewards and benefits will likely find it a worthwhile option.

Not the right fit? You could consider the National Bank ECHO Cashback Mastercard. Or, if you’re looking for other options check out the National Bank Platinum MasterCard, and the National Bank Syncro MasterCard.

FAQ

The National Bank World MasterCard credit card offers a variety of redemption options for points earned. Cardholders can redeem their points for:

  • Travel Rewards: Points can be used for airline tickets, car rentals, hotel reservations, and other travel-related expenses via National Bank’s À la carte Travel agency. Moreover, there is no blackout period, leaving you with greater flexibility for travel plans.
  • Gift Cards: Points may be exchanged for gift cards from a wide range of retail partners. This means you can enjoy shopping at your favorite stores or dining out at popular restaurants with your rewards.
  • Merchandise: A diverse selection of products, from electronics and household items to wellness products and accessories, can be redeemed using your points via the À la carte Rewards catalogue.
  • Financial Products: If you’d like to put your points towards your financial goals, you can use them to contribute to a National Bank investment product, cover fees on certain financial services, or even pay down your credit card balance.
  • Charitable Donations: You also have the option of donating your points to partnering charities, supporting causes that are close to your heart.

Note that the conversion rate and minimum point requirements for these redemption options may vary, so be sure to review the À la carte Rewards program terms and conditions for more details.

The National Bank World MasterCard credit card offers a foreign transaction fee of 2.5%. This fee is applicable when making purchases in currencies other than Canadian dollars (CAD), as well as when making any transaction that involves a conversion of currency to CAD.

The National Bank World MasterCard credit card has a minimum annual income requirement of $60,000 for individuals or a combined household annual income of $100,000.

Key benefits

  • Earn 2.5 points for each $1 spent on travel, dining, and entertainment
  • Earn 1 point for each $1 spent on other eligible purchases
  • Redeem points for statement credits, gift cards, or directly through National Bank’s À la carte Rewards Travel Agency
  • 1.5% cash back on foreign currency purchases without incurring conversion fees
  • Access to 24/7 fraud alert services
  • Mobile payment capability through Apple Pay, Google Pay, and Samsung Pay
  • Emergency health care coverage up to $5 million during the first 15 days of a trip
  • Trip cancellation and interruption insurance
  • Auto rental collision and loss damage coverage
  • Baggage delay and lost baggage protection
  • Extended warranty on purchases plus purchase protection for 90 days after date of transaction
  • Customer service available through phone, email, or chat support

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