National Bank of Canada has released a new welcome bonus for the premier card in their portfolio - the NBC World Elite Mastercard. The provides new cardholders with the opportunity to earn up to $300 in cash back when you spend at least $6,500 on the card within the first four months of having it This bonus is over and above the regular points earn and other benefits that come with the card. To take advantage of this particular offer you must apply for the card by August 31, 2020.
The NBC World Elite Mastercard is a this bank's top card and it is a pretty good card overall. It doesn't make it into the Top 5 of any of our categories in Canada's Top Travel Rewards Credit Cards but it's not that far out. I would definitely place it in the Top 10 of the Travel Points category in Canada. The reason for this is that the card normally doesn't have a welcome bonus, so this limited time offer is a welcome bonus! Pun intended. It also a bit weak in the rewards department when you line this card up against comparable offerings from other banks. With a variable earn rate of 1.5 points to 2 points per dollar spent and a travel redemption value ranging from 0.83 to 1.0 cent per point makes this card provide a return of 1.25 to 2% (and the 2% is only awarded on your spend between $40,000 and $80,000 annually). So you can see where this card lacks compared to its competition however where it doesn't lack is in the insurance department. It has some of the best insurance benefits you can find in Canada, in particular for out of province travel medical insurance. The Travel Medical Insurance provides up to $5,000,000 in coverage per person and covers travel of up to 60 days for those up to 54 years old, 31 days for 55-64 years old and 15 days to 74 years old.
The card also provides up to $250 in annual rebates for associated costs with travel broken down as follows: up to $100 on airport parking, $50 on seat selection and $100 on baggage fees. This is another nice benefit to have if you can utilize it!
In the end if you do get this card you will only end up $150 ahead if you take into account the $150 annual fee and subtract that from the $300 cash back bonus. In terms of current welcome offers I am a bit surprised they want you spending $6,500 to receive the bonus - that's high given the current economic situation. Most competitors are not requiring that high of spend, even Amex's Platinum Card only requires $2,000 right now and most others don't go over $3,000 and include a first year annual fee waiver. Sure this welcome bonus is better than the usual no welcome bonus that this card provides but there are definitely better travel rewards card options out there right now like the BMO Rewards World Elite Mastercard and the CIBC Aventura Visa Infinite card just to name a few.
Learn more about this limited time offer here.
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