To the point
Here's our detailed comparison of the MBNA Rewards World Elite® Mastercard® and the National Bank World Elite Mastercard.
MBNA and National Bank each offer a credit card that earns 5 points per dollar spent at grocery stores and restaurants:
These are two basic cards that we often recommend when someone wants to get points quickly and easily.
So, we will analyze what are the main differences between these credit cards on:
Welcome bonus
The welcome bonus offered by each of these credit cards varies according to promotions. However, there are differences to be aware of between the two credit cards.
Right now, there’s a great welcome offer for the National Bank World Elite Mastercard®.
With this promotion, you can earn up to 40,000 welcome bonus points (worth up to $400) until August 15, 2024!
Here is the requirements of this National Bank welcome bonus:
- 5,000 points after enrolment in credit card payment insurance for at least the first three months
- 5,000 points after $5,000 in purchases in the first 3 months
- 10,000 points after $10,000 in purchases in the first 6 months
- 20,000 points after $15,000 in purchases in the first 12 months
When applying for the MBNA Rewards World Elite® Mastercard®, you can earn these 20,000 points, within 90 days of account opening:
- 15,000 points after first purchase ;
- 5,000 points after subscribing to electronic statements.
What’s more, the card offers a points bonus to celebrate the anniversary of the account opening. This bonus is equal to 10% of the total number of points accumulated in the account over the previous 12 months, up to a maximum of 15,000 points.
This offer is only available to residents of the province of Quebec.
Advantage: National Bank's World Elite Mastercard®
With its extra points, the National Bank World Elite Mastercard® is the best!
Minimum income
The National Bank World Elite Mastercard requires :
- minimum individual income of $80,000 ;
- or $150,000 minimum family income ;
- or assets under management of $400,000 or more.
The MBNA Rewards World Elite® Mastercard® requires :
- minimum individual income of $80,000 ;
- or $150,000 minimum family income.
Advantage: Tie
Both credit cards require the same level of annual income. However, if you have assets at National Bank, you may be able to qualify even if you don’t have/no longer have these income levels.
Annual fee
The National Bank World Elite Mastercard® has an annual fee of $150.
The MBNA Rewards World Elite® Mastercard® has an annual fee of $120.
Advantage: National Bank World Elite<sup>®</sup> Mastercard<sup>®</sup>
And yes, the annual fee for the National Bank World Elite® Mastercard® is higher than its competitor.
However, the National Bank World Elite Mastercard has a unique advantage: it offers up to $150 in annual travel credits!
So, using this $150 reimbursment to its full potential, your credit card costs virtually $0 every year.
Earning points
The MBNA Rewards World Elite® Mastercard® and the National Bank World Elite Mastercard each offer similar levels of point accumulation.
With the National Bank World Elite Mastercard®, you can also earn up to 5 points per dollar:
| Category | Points |
| Grocery and Restaurant | 5* |
| Gas, EV charging, recurring bill, À la carte Travel | 2 |
| Other purchases | 1 |
For the Grocery and Restaurant category, you can earn 5 points for every dollar spent within the first $2,500 of monthly purchases (all categories combined) charged to the card. Starting at $2,501, points are accumulated at a rate of 2 points per dollar for the 5 X points category.
With the MBNA World Elite® Rewards Mastercard®, you can earn up to 5 points per dollar:
| Category | Points |
| Grocery, Restaurant, Digital Media, Membership and Household utility purchases | 5* |
| Other purchases | 1 |
| + 10% Anniversary Bonus (up to 15,000 points) |
|
For the 5 X points category, you can earn 5 points per dollar in this category, charged to the card up to $50,000 in annual purchases (or an average of $4,166 per month). Starting at $50,001, accumulation is 1 point per dollar for the 5 X points category.
Advantage: Tie
This one’s tough!
Depending on your needs and the majority of your expenses, you may choose one or the other. The National Bank World Elite Mastercard® has an advantage with its gas spending category. This can be an important part of the expenses too.
Since groceries are a major budget item, getting 5 points per dollar on one of these 2 credit cards for this expense is excellent.
But if you do a lot of spending in its 5-point category, the MBNA Rewards World Elite® Mastercard® is the best! Best of all, you have a higher purchase limit ($50,000 per year) with this card.
Don’t forget that MBNA pays 10% on all points accumulated. This means that 5 points per dollar is more like 5.5 points! So think about your lifestyle and calculate what’s worthwhile for you.
Don’t forget the possibility of buying gift cards at the grocery store to maximize your points: you earn 5 points (or 5.5) per dollar, even for Walmart, Amazon, Sports Experts, Canadian Tire, etc. gift cards.
Redeeming points
Both cards are part of different loyalty programs:
- NBC rewards points from NBC Plan À la carte rewards for the National Bank World Elite Mastercard
- MBNA Rewards points for the MBNA Rewards World Elite® Mastercard®
Thus, the ways of using the points are different.
With the National Bank World Elite Mastercard®, you cannot transfer your points to other programs. Here are a few ways to use your Reward Points:
| Rewards | Points for $100 |
| Exchange on the dedicated NBC À la Carte Rewards Plan portal | 10 000 |
| Flexible travel rebates (from 55,000 points redeemed) |
11 000 |
| Flexible travel rebate (on travel purchases you book yourself) | 12 000 |
| Extras À La Carte RRSP or TFSA contribution Reimbursement of your all-in-one line of credit or mortgage loan |
12 000 |
| Gift-card | 12,000 – 13,500 |
| Statement credit | 25 000 |
MBNA points cannot be transferred to other rewards programs at this time. In 2024, the good news is that it will be possible to transfer MBNA rewards points into Alaska Airlines points at a rate of 1:1.
There are several options for using MBNA Rewards points:
| Rewards | Points for $100 |
| Statement credit | 12 000 |
| Buy your own travel | 10 000 |
| Physical and electronic gift cards | Between 10,000 and 12,000 and more |
| Merchandise | Approx. 12,000+ / $100 Variable |
Advantage: National Bank Mastercard<sup>®</sup> World Elite<sup>®</sup> card but...
Thanks to the great flexibility of the National Bank World Elite Mastercard®, points can be used in a variety of ways. Even to pay off the mortgage!
But in terms of the number of points required, the MBNA Rewards World EliteMD Mastercard® requires the fewest on certain rewards.
Other benefits
Each calendar year, National Bank World Elite Mastercard® cardholders have a $150 travel credit to reimburse certain travel expenses:
- Airport parking
- Baggage fees
- Seat selection
- Access to airport lounges
- Airline ticket upgrades
It also offers :
- Free unlimited access to the National Bank lounge at Montréal-Trudeau International Airport for the primary cardholder, one guest and up to 2 children.
- A subscription to the DragonPass program, which gives you access to over 1,300 airport lounges worldwide ($32 USD per person).
- Free Wi-Fi access when travelling anywhere in the world, thanks to Boingo
With the MBNA Rewards World Elite® Mastercard®, you can also enjoy the benefits of World Elite cardholders:
- A subscription to the DragonPass program, which gives you access to over 1,300 airport lounges worldwide ($32 USD per person).
- Free Wi-Fi access when travelling anywhere in the world, thanks to Boingo
- Priceless.com program and its inspiring experiences
- A birthday points bonus equal to 10% of the total number of points accumulated in the account during the 12 months preceding the primary cardholder’s birthday month, up to an annual birthday bonus of 15,000 points.
Advantage: National Bank World Elite<sup>®</sup> Mastercard<sup>®</sup>
With its wide range of travel benefits, the National Bank World Elite Mastercard® is unbeatable in this respect.
Insurance
| Insurance |  |
|
| Trip Cancellation Insurance | Up to $2,500 | – |
| Trip Interruption Insurance | Up to $5,000 | Up to $2,000 |
| Out of Province/Country Emergency Medical Insurance | Up to $5,000,000 for up to 60 days | Up to $2,000,000 for 21 days |
| Flight delay insurance | Up to $500 after 4 hours |
Up to $500 after 4 hours |
| Delayed Baggage Insurance | Up to $500 after 6 hours |
Up to $1,000 after 4 hours |
| Lost or stolen luggage insurance | Up to $1,000 | Up to $1,000 |
| Hotel Burglary Insurance | – | – |
| Car Rental Theft and Damage Insurance | Up to $65,000 | Up to $65,000 |
| Travel Accident Insurance | – | $1,000,000 |
| Buyer’s Assurance® Protection Plan | 2 additional years | 1 additional year |
| Purchase Protection® Plan | Up to $1,000 180 days |
Up to $1,000 60 days |
Advantage: National Bank World Elite<sup>®</sup> Mastercard<sup>®</sup>
In general, the National Bank World Elite Mastercard® offers more generous additional coverages than the MBNA Rewards World Elite® Mastercard®.
What’s more, you only need to carrya portion of your travel purchases on the card to benefit from most insurances.
Whereas, depending on coverage, the MBNA Rewards World Elite® Mastercard® requires that at least 75% or 100% of the cost of the trip or ticket be charged to it. You’ll need to read carefully all the little details that could make a big difference.
Bottom Line
So? Which card is the winner?
In our opinion, for everyday purchases, it’s the MBNA Rewards World Elite® Mastercard®. However, if you travel a lot and insurance is essential, the National Bank World Mastercard® is the best choice.
The MBNA Rewards World Elite® Mastercard® is easy to optimize and stands out on:
- Easy-to-get welcome bonus;
- 10% in bonus points paid annually ;
- Its reasonable annual fee ;
- The future possibility of transferring points to the Alaska Airlines loyalty program;
While the National Bank World Elite Mastercard® stands out thanks to..:
- Up to 40,000 welcome bonus points;
- Annual reimbursement of up to $150 on eligible travel expenses;
- Its robust travel insurance package is one of the best of any credit card in Canada;
- The opportunity to invest your points in an RRSP, TFSA or to pay off your mortgage;
- Unlimited access to the National Bank Lounge at Montreal-Trudeau International Airport before your trip.
