World Elite credit cards are great for travelers, but they are also some of the best cards for rewards and insurance coverages.
To help you choose a World Elite credit card, we’ve used our comparator to identify the top 5 cards of this kind.
National Bank of Canada World Elite Mastercard
With the National Bank World Elite Mastercard, you can earn 1.5 points per dollar spent. If your purchases exceed $40,000 in a 12-month period, each additional dollar earns 2 points. Beyond $80,000, the rebate reverts to its normal rate. You can redeem your points for a variety of products and services including travel, electronics, kitchenware, and gift cards. For tax savings, convert your points into a donation or a contribution to an RRSP or TFSA.
As a welcome offer, you get $300 in cash back when you spend over $4000 with your credit card within 3 months of joining.
You are entitled to $250 reimbursement per year for seat selection, airport parking and baggage fees. If your flight is delayed for more than 4 hours, you are covered up to $500 per person for meals and accommodation. You are also covered for all flight cancellations up to $5000 per person. If you have to be hospitalized outside your province, you have coverage up to $5,000,000. The trip must however last for a maximum of:
60 days for people aged 54 and under
31 days for people aged 55 to 64
15 days for people aged 65 to 75
When you rent a car with the National Bank World Elite Mastercard, you’re automatically covered against collisions, theft and damage for a period of 48 days after taking possession of the vehicle. Theft of your personal belongings is covered for a maximum of $2000.
This card provides purchase protection for 180 days and the extended warranty period is tripled, up to a maximum of 2 years.
The National Bank World Elite Mastercard has an annual fee of $150 which is refunded for the first year. For additional cards, the annual fee is $50. It has a minimum credit limit of $5000 and the minimum annual income required is $80,000 ($150,000 per household).
BMO AIR MILES World Elite Mastercard
You earn 1 AIR MILE for every $10 spent with your credit card, and you can double your points with AIR MILES partners. You also get a bonus of 2000 AIR MILES when you spend $3000 with your BMO AIR MILES World Elite Mastercard within the first 3 months.
You get rental car insurance, which provides coverage in the event of death, dismemberment, damage or theft. This coverage is also provided when you use public transportation during a trip.
It has trip cancellation insurance, up to $5000 before departure and $2000 after departure. You are also covered for trip interruptions, flight delays and baggage delays. Out-of-province emergency medical coverage is available if you are under age 65.
The card entitles you to 15% off all Cirque du Soleil shows in Canada (20% for shows in Las Vegas). You get 15% off all AIR MILES flights in North America with the BMO AIR MILES World Elite Mastercard.
The $120 annual fee is waived for the first year. For subsequent years, a $40 fee rebate is offered if you have a BMO Performance chequing account. Consult this chequing account comparator to learn more about this account.
BMO CashBack World Elite Mastercard
The BMO Cash Back World Elite Mastercard is for those who prefer cash back rewards applied directly to their credit card statement.
It offers 1.5% cash back rewards on all purchases, but as a welcome offer for the first 3 months, this cash back is 10%.
This card provides free membership to LoungeKey Mastercard Airport Experiences program. The program provides access to relaxation lounges at airports as well as discounts at participating restaurants, spas and boutiques. Download the app to your iPhone or Android to view the lounges and special offers available. You also become a member of the Dominion Automobile Association (DAA) for free, entitling you to roadside assistance.
One of the biggest benefits of this card is BMO Cash Back World Elite travel insurance. In fact, this card offers the same advantages as the previous BMO card, in addition to insurance in the event of an unexpected return and a travel assistance service.
You are entitled to 15% off all Cirque du Soleil shows in Canada and 20% off shows in Las Vegas.
The $120 annual fee is waived for the first year. For subsequent years, a $40 fee rebate applies if you have a BMO Performance Chequing Account. Consult the chequing account comparator to learn more about this chequing account.
Each additional card costs $50 per year.
HSBC World Elite Mastercard
The HSBC World Elite Mastercard is very attractive not only for travel, but for all types of purchases. It gives you 6 points per dollar spent on travel, including flights, car rentals, hotel stays, cruises, train tickets, timeshares, and travel agencies in the Mastercard network. For all other purchases, it’s 3 points for every dollar spent. Points are redeemable for travel, gift cards, valuables, financial rewards or miles. You can view the multitude of products for which you can redeem your points on this website.
Upon enrollment, you will receive up to 100,000 points (equivalent to $500) as a welcome offer (110,000 points for residents of Quebec). Some conditions apply and they vary according to your province of residence.
Membership in the LoungeKey Mastercard Airport Experiences Program is free. It provides access to 850 airport lounges at a cost of $32 USD per visit. You get a 10% discount on hotel bookings made through Expedia and Agoda. There is no foreign currency conversion fee when using the HSBC World Elite Mastercard.
You get the same insurance as the previous two cards: travel medical emergency insurance, baggage insurance, flight interruption or cancellation insurance and vehicle rental protection. The card offers 90-day purchase protection and extended warranty for a maximum of 1 additional year.
The annual fee for this card is $149 and $50 for each additional card.
MBNA Rewards World Elite Mastercard
The MBNA Rewards World Elite Mastercard offers a welcome bonus that varies according to your province of residence: 20,000 bonus points in Quebec and 30,000 points in other provinces. Conditions apply, including signing up for electronic statements.
You earn 2 points per dollar spent on all purchases. You can redeem your points for travel, gift cards, cash back, and products in the MBNA Rewards Program Catalogue. Your points don’t expire.
This card includes a 90-day purchase protection. The extended warranty will add up to 12 months to the retailer’s warranty. If the price of an item you’ve purchased decreases within 60 days of possession, you can get a refund of the difference up to a maximum of $500 per item and $1000 per year.
You get 10% off car rentals with Avis and Budget in Canada and the United States. Internationally, you get a 5% reduction.
This card has a $120 annual fee. All additional cards are free (9 maximum).
This article was compiled by Hardbacon, which has designed a credit card comparator listing hundreds of Canadian credit cards. Hardbacon also helps you save on savings accounts, chequing accounts, online brokers, robo-advisors, life insurance, mortgages and personal loans. If you want to go one step further and take control of your finances, you should download Hardbacon’s mobile app, which links to your bank and investing accounts, helps you plan for your financial goals, create a budget and invest better.