National Bank World Mastercard review

Jan 6, 2025

While we adhere to strict editorial guidelines, partners on this page may provide us earnings.

First year value

$0

Get this card if you:

  • want to earn rewards on everyday purchases
  • value comprehensive insurance benefits
  • want flexible point redemption

At a glance

The National Bank World Mastercard® is a rewards credit card offering elevated earn rates on purchases, with the highest rates applicable within a specific annual spending range. Cardholders benefit from comprehensive insurance coverage, including travel and purchase protections.

Highlights

$115

Annual fee

Additional card fee: $35

Interest Rates

20.99%

Purchase APR

22.49%

Balance transfer APR

22.49%

Cash advance APR

Eligibility

Good

Recommended credit score

$50,000

Required annual personal income

$80,000

Required annual household income

Quick overview of the National Bank World Mastercard

When it’s got “World” in its name, you know it’s for the travellers, and that’s precisely who the National Bank World Mastercard is targeting. In truth, this card is a bit of an oddball (for reasons we’ll get into below) but it does have a few perks that may tempt the traveller interested.

For one, it’s got really great travel insurance across the board, giving comprehensive coverage in most categories you’d care about. You also earn (or well, kinda, under certain circumstances) 2x points per dollar spent, if you abide by the weird tier system National Bank straps to this card. 

But the downsides are pretty evident. First – no welcome bonus. Zilch, squat, nada. And, I mean, if the card had no fee, so what? But the National Bank World Mastercard is actually $115 per year, which may be just a bit steep for those with travel in mind. All things considered, is this card right for you? Let’s dive into the details.

Who’s the National Bank World Mastercard for?

If you’re a travel fan who’s not looking for an immediate boost of points, but rather wants to collect for a trip down the road, this card may be for you – especially if you’re travelling to a place where having comprehensive insurance is a good idea. 

Also, if comprehensive insurance is important to you (or you're a traveller over 65) the National Bank World Mastercard may be what you’re after.

Pros and cons

Pros

Pros

  • Up to 2x points per dollar spent

  • Great insurance – especially for senior travellers

  • Decent travel redemptions and bonuses through National Bank

Cons

Cons

  • A relatively high annual fee for what you get

  • No welcome bonus 🙁

  • Complicated tier structure for point earning

  • Relatively prohibitive income requirements

National Bank World Mastercard welcome bonus

  • There’s no welcome bonus, unfortunately

How to earn points with the National Bank World Mastercard

Okay, so – remember that complicated tier system I mentioned in the cons list above? Well, here’s how it shakes out.

If you spend between $0 to $20,000 you’ll earn 1.25 points per $1 spent. Clear so far? But, if you spend between $20,001 to $30,000, you’ll earn two points per dollar. “Oh cool,” you may be saying. “Does the point multiplier scale with spend?” No.

Annual spending over $30,001 drops back down to 1.25 points per $1. So the sweet spot is spending quite a lot on your card, but not too much. This definitely has to be one of the few instances where you are disincentivized from spending as much as possible on a credit card.

How to redeem points on the National Bank World Mastercard

Like most points cards, there’s a whole suite of ways to spend the points you earn on your National Bank World Mastercard. But, unlike other cards, the value of your points swings pretty dramatically depending on how you use them.

The absolute best bang for your buck is redeeming your points for travel through the National Bank platform. Assuming you spend around $2,000 per month, you could earn about $350 towards travel this way. The value drops if you don’t go through National Bank directly to less than $300.

Statement credits are the worst value, falling short of $150 in value by the same metrics. One cool way to use your points is turning them into investments through National Bank, netting you just shy of $300 in value. This novel perk might appeal to the super savers out there (although, as an ostensible travel card, this may have overly niche appeal).

Key National Bank World Mastercard benefits

  • Solid discounts for travel redemption through National Bank
  • Excellent insurance coverage
  • Superb extended warranty

National Bank World Mastercard insurance coverage

  • Purchase protection: In the event of theft or damage, National Bank has you covered for 180 days following purchases made on the World Mastercard
  • Extended warranty: They’re fond of bandying around the phrase “triple your manufacturer warranty,” but National Bank only extends it to a maximum of 2 years
  • Trip cancellation: You’re covered up to $2,500per person
  • Trip interruption: This is pretty stellar – trips purchased on this card are covered up to $5,000per person in the event of interruption
  • Emergency medical: Coverage is offered up to $5 million per person, with terms ranging dependent on age: 54 and under = 60 days; 55-64 = 31 days; 65 to 75 = 15 days (unusually generous for senior travellers) 
  • Flight delay: Up to $500 per person if the delay is over four hours
  • Baggage delay: Up to $500 per person if your bags are delayed over six hours
  • Baggage lost/stolen: Coverage up to $1,000
  • Vehicle rental: $65,000 protection for collision, theft or other damage.

Extra benefits

  • While not exactly swimming in perks, the travel discounts through National Bank and the ability to invest your points, stand out

What people have to say about this card

Unfortunately, there hasn’t been much to be said about this card on the interwebs. Is it because there’s not much to say, or is it because the demographic for this card caters to an older generation that’s not too keen on posting on social media or Reddit? 

How National Bank World Mastercard compares

14,000 Avion points

Welcome Bonus

$571

First Year Value

$471

Annual Value

Welcome Bonus: Get 14,000 Avion points upon approval ($100 value in gift cards). Apply by May 7, 2025. Expires May 07, 2025

Learn More Apply Now On RBC's Secure Site

Refer to RBC page for up to date offer terms and conditions.

This post contains affiliate links. Please read disclaimer for more info.

Disclaimer: Money.ca may engage in affiliate marketing, which is done by embedding tracking links into Money.ca. If you click on a link for an affiliate partnership, a cookie will be placed on your browser to track any sales for purposes of commissions.

up to $1,100

Welcome Bonus

$1,383

First Year Value

$583

Annual Value

Welcome Bonus: Get a total of up to 40,000 Aeroplan points (up to $800 in travel value†)

Learn More Apply Now On CIBC's Secure Site

†Terms and Conditions Apply. This offer is not available for residents of Quebec.

The information for the CIBC Aeroplan® Visa Infinite* Card has been collected independently by Money.ca. The card details on this page have not been reviewed or provided by the card issuer.

$1,153

First Year Value

$0

Annual Value

Welcome Bonus: Get up to $1,352 in benefits and rewards for the first year.

Learn More Apply Now On National Bank's Secure Site
Features National Bank World Mastercard National Bank World Elite Mastercard
Annual fee $115 $150
Welcome offer N/A
Insurance Comprehensive insurance Comprehensive insurance
Benefits Great extended warranty Great extended warranty
Review link You’re reading it National Bank World Elite Mastercard review

Is the National Bank World Mastercard worth it?

If you’re looking for a daily spender with great insurance for travel (especially if you’re over 65) then, well, maybe. But in almost every other conceivable way, this card falls short of its competitors, especially in the “over $100 annual fee” category. If you just need a National Bank card, spring for $35 more a year and upgrade to the Elite version, which at the very least has a welcome bonus structure.

National Bank World Mastercard eligibility criteria

  • Personal income of $50,000 per year or household income of $80,000
  • Alternatively, assets worth $250,000 or, for existing customers, $15,000 in yearly minimum purchases on a National Bank card

FAQs

  • What are the benefits of the National Bank World Mastercard?

    +

    The National Bank World Mastercard has lots of benefits for those concerned with travel insurance. It also has a strong extended warranty offering.

  • What’s the difference between Mastercard and World Mastercard?

    +

    Mastercard is the name of the credit card company National Bank has partnered with. This partnership helps them offer credit card products, and the ones it targets at travel enthusiasts bear the “World” moniker to distinguish them.

  • What is the minimum income for the National Bank World Mastercard?

    +

    To be eligible for this card, you need to have a personal income of $50,000 per year or household income of $80,000

Cameron Smonk Freelance Writer

Cam is a content marketer with a passion for saving, financial independence, and pulling off elaborate credit card point schemes. He has worked in Fintech and Finserve (specifically Group Retirement) and loves researching and writing about finance.

Explore the latest articles

Happy couple holding up cash

Using Warren Buffett's strategy to invest

Discover how Canadian investors can take advantage of Warren Buffett's latest stock pick with strategies using Qtrade, TD Direct Investing. From direct trading to automated investments, find out how to build your portfolio with confidence

Disclaimer

The content provided on Money.ca is information to help users become financially literate. It is neither tax nor legal advice, is not intended to be relied upon as a forecast, research or investment advice, and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy. Tax, investment and all other decisions should be made, as appropriate, only with guidance from a qualified professional. We make no representation or warranty of any kind, either express or implied, with respect to the data provided, the timeliness thereof, the results to be obtained by the use thereof or any other matter. Advertisers are not responsible for the content of this site, including any editorials or reviews that may appear on this site. For complete and current information on any advertiser product, please visit their website.

†Terms and Conditions apply.