With the current state of the Canadian dollar, some people are adjusting their travel plans or reconsidering their strategies with reward points.
Did you know that it is possible to use credit card points to invest? If you don’t think you’ll need your points any time soon, it may be worth investing them in mutual funds. You can do this tax-free by investing your points in a TFSA,RRSP or FHSA, for example.
Investing is a great way to take advantage of reward points when there’s no travel goal in sight.
Although the exchange rate remains higher when they are used against travel expenses, it is important to remember that this is sleeping money in the form of points.
With 60,000 points, they can be exchanged for a $500 contribution to a TFSA account for investment purposes.
When compared to the « best rate » of 55,000 points against a $500 travel discount, at first glance, the points are not optimized. In fact, you « lose » 5,000 points, or a value of ~$45.
On the other hand, if there’s no trip on the horizon, it may be preferable to put that $500 to work, optimize our tax return or pay off debts (mortgage, line of credit, etc.) rather than leave it in the form of points.
As you can see, some exchange rates come close to being used against a Statement credit on travel expenses.
Investing in the Stock Market With Points
At the start of the pandemic, I had liquidated the majority of my reward points in order to increase my savings contributions and invest.
Over an 18-month period, my investments grew by more than 20%.
Since we didn’t know when we’d be able to leave again, I found another way to monetize these points despite a slightly disadvantageous exchange rate in the first place.
If you’re facing a significant increase in mortgage payments with skyrocketing rates, you can turn to your points to ease the burden.
However, when there’s a trip on the horizon, it’s really best to redeem reward points for travel discounts. Then, invest the amount saved.
Make Your Money Grow Fast With Points
It’s just a matter of perception, but there are two ways to look at it:
our trip costs less, so we have more money available for other purchases
our trip costs less, so we have more money available to invest or save
The basic rule of point hunting, remember, is not to create needs.
So, to optimize your points and your budget, use your points and cash back on expenses you would have made anyway.
Money Is Money
During my trip to Turkey, I had booked a tour package with G Adventures. With them, there are several ranges of service for the same journey.
I carefully chose the one that suited me and then applied my National Bank rewards points to the fees.
I reiterate, I selected the circuit that satisfied me and not a more luxurious circuit simply because I had a « big discount ».
Secondly, would I have gone on the trip even if I didn’t have so many points? In my case, the answer is yes.
So by using my points to reduce the cost of my tour, I saved a $500 that I was going to inject into this trip anyway. So I deposited that same amount into one of my investment accounts.
More cash flow from savings thanks to credit card points? As savvy investors, we have more money to invest in our long-term financial goals, such as retirement savings or financial independence,while enjoying life to the fullest.
To find out more about investing and personal finance, read our articles and guides:
The best way to invest with points is to use those you won’t be using for travel, and invest them tax-sheltered in RRSPs or FHSA. At present, many financial institutions allow you to use your points directly to invest. An interesting strategy is to use your points to maximize your tax refund. You can then reinvest this tax refund in your TFSA to grow your money tax-free. This approach optimizes the use of your points while maximizing the tax benefits of the various registered accounts.
What does investing mean?
Investing means making your money grow by strategically placing it to generate long-term returns. For beginners and experienced investors alike, it’s essential to define your financial objectives and risk tolerance before taking the plunge. Whether you’re looking to save for retirement or achieve financial independence, you have a number of options open to you: stocks, bonds, mutual funds or real estate. The important thing is to diversify your investments and maintain a long-term vision, while remaining faithful to your investment strategy despite market fluctuations.
How to invest in the stock market
To invest in the stock market, start by determining your risk tolerance and your financial objectives. Then, you’re ready to invest, diversify your portfolio between different asset classes such as stocks and fixed-income securities. Markets offer different opportunities depending on your investor profile. To achieve a good rate of returnfocus on a long-term investment strategy and avoid reacting to daily fluctuations. The online trading platforms make investing easy and inexpensive.
How do you invest your money and points?
The most effective investment strategy is to combine your points and your money strategically. By using your points for day-to-day expenses, you free up cash for long-term investments. Your risk tolerance will guide the allocation between asset classes.
$150ⓘMilesopedia first-year estimateFirst-year valueAnnual fee rebated$150Total$150Rewards on your spending are not included. The calculator that adds them from your own profile is on the card's page.
Milesopedia first-year estimateⓘFirst-year valueAnnual fee rebated$150Total$150Rewards on your spending are not included. The calculator that adds them from your own profile is on the card's page.
With Milesopedia, take advantage of an exclusive offer: your first-year annual fees are refunded with the National Bank World Elite Mastercard. This offer is exclusively available on the Milesopedia network, from June 30 to November 4, 2026.
Refund of the first-year annual fee (a $150 value) for the primary cardholder. This fee is charged to your new card account, then refunded as a credit on your statement within five months of opening your account, provided it remains open and in good standing.
The National Bank World Elite Mastercard is the best Mastercard credit card offered by NBC.
With this card, you earn up to 5 points per dollar on your purchases:
5 points per dollar for groceries and restaurants
2 points per dollar on gas and electric recharge purchases
2 points per dollar on recurring bills
2 points per dollar on À la carte Travel
1 point per dollar for all other purchases
And since it’s an NBC mycredit Mastercard, you can use it at Costco.
With this card, you have access to a $150 annual travel credit that you can use in any of these categories:
Airport parking
Baggage fees
Seat selection
Access to airport lounges
Airline ticket upgrades
What’s more, you can enjoy access to DragonPass airport lounges and unlimited access to the National Bank Lounge at Montreal-Trudeau.
Finally, Milesopedia has named the National Bank World Elite Mastercard as the Best Travel Credit Card in 2023, 2024, 2025, and 2026.
Legal
® Mastercard and World Elite are registered trademarks, and the circles design is a trademark of Mastercard International Incorporated. National Bank is an authorized user.
® The À LA CARTE REWARDS logo is a registered trademark of National Bank of Canada.
® NATIONAL BANK OF CANADA LOUNGE is a registered trademark of National Bank of Canada.
® À LA CARTE REWARDS PLAN is a registered trademark of National Bank of Canada.
® Apple Pay is a registered trademark of Apple Inc., registered in the U.S. and other countries. Apple Inc. is not a sponsor of or participant in National Bank Mobile Banking Solutions.
® Google Pay is a registered trademark of Google LLC. Use of this trademark is subject to Google Inc. Permissions.
TM À LA CARTE TRAVEL is a trademark of National Bank of Canada. The À la carte Travel agency is owned by Transat Distribution Canada Inc. and holds a Quebec permit (No. 753141).
TM À LA CARTE REWARDS is a trademark of National Bank of Canada.
® THE TOTAL, THE CONNECTED and NATIONAL BANK are registered trademarks of National Bank of Canada.
* Mastercard® World Elite®
The National Bank® World Elite® Mastercard® credit card was voted best Mastercard credit card by Milesopedia in 2026, 2025 and 2024.
The National Bank® World Elite® Mastercard® credit card was voted best travel credit card by Milesopedia in 2026, 2025 and 2024.
Every year, Milesopedia reviews credit card offers from major financial institutions and establishes its Ranking based on over 150 criteria such as fees, welcome offer, minimum income required, number of points per category, account credits, insurance, airport lounge access, etc.
Certain restrictions apply. For more information, see the Rewards Plan section or the Plan Rules applicable to point accumulation.
Grace period: No interest is charged on purchases made during the month if the cardholder pays the full balance of their account within twenty-one (21) days of the statement date. This grace period does not apply to cash advances and balance transfers. Minimum payment: if your account balance is less than $10, you must pay the balance in full. If you reside in the province of Quebec, your minimum payment is 5% of your account balance plus any overdue amount, or $10, whichever is greater. If you reside outside Quebec, your minimum payment is 2.5% of the credit card account balance plus any overdue amount, or $10, whichever is greater. Account statement: an account statement is sent monthly.
Table of examples of credit fees calculated over a 30-day period
Annual interest rate
$500
$3,000
22.49%
$9.24
$55.45
20.99%
$8.63
$51.76
13.2%
$5.53
$33.16
9.2%
$3.78
$22.68
*Variable interest rate in effect as of September 1, 2021.
Balance transfers and cash advances are subject to National Bank credit approval. Each amount transferred cannot be less than $250.
Exclusive to World Elite Mastercard cardholders. Presentation of the physical credit card and boarding pass is required to access the lounge. The National Bank® Lounge is accessible to customers traveling on international flights only (excluding flights to Canada and the United States). You benefit from free and unlimited access with one guest and two children aged 12 and under. Until July 31, 2026 (date subject to change), customers can enter the National Bank Lounge three hours before their flight departure time. From August 1, 2026 (date subject to change), access will be authorized for a maximum duration of 2 hours (3 hours for customers who hold a Private Banking 1859® World Elite® Mastercard® credit card). National Bank customers who are not World Elite ® Mastercard ® cardholders can also access the current lounge based on current rates and benefit from a 25 % discount on these rates : 63,24 $ taxes included for adults (excluding discount) $40.24 taxes included for children aged 2 to 12 (excluding discount) free for children under 2 (excluding discount) The entry fee is subject to change without notice and is the responsibility of the lounge operator.
Subject to providing the required supporting documents in the manner and within the prescribed timeframe. Certain conditions may apply. Only the primary cardholder of a National Bank World Elite Mastercard (Cardholder) whose account is in good standing can request a « Travel Fee Reimbursement ». « Account in good standing » means an account linked to the credit card that does not violate the Credit Card Agreement in any way and on which no restrictions apply. For example, and without limitation, the associated annual fees must have been paid in full. The maximum reimbursement of $150 can be requested from January 1 to December 31 of each year. Eligible expenses are: airport parking baggage fees seat selection airport lounge access worldwide airline ticket upgrades A reimbursement request must be made within 60 days of the purchase date. Travel expenses must be charged to the National Bank World Elite Mastercard credit card account. The maximum reimbursement of $150 is applicable per account. Please allow up to 7 business days for the reimbursement to be processed from the date your request is submitted. National Bank reserves the right to request additional supporting documents for validation purposes (e.g., invoices). You must keep all receipts and supporting documents for a period of 12 months from the date you made your reimbursement request. An unused reimbursement in one year cannot be carried over to the next year. You can make your request online at rewards.nbc.ca or by calling 1-800-341-8083 (toll-free) for an agent to assist you with your travel fee reimbursement request.
Point accumulation on grocery and restaurant spending depends on the total gross monthly amount charged to the credit card account, across all categories. Earn 5 points per dollar spent on eligible grocery and restaurant purchases. The 5 points per dollar accumulation is valid for the first $2,500 of gross monthly purchases charged to the account. Beyond this amount, eligible grocery and restaurant spending will earn 2 points per dollar. The calculation of the gross monthly purchase amount is based on monthly billing. A grocery purchase means a purchase made at a merchant whose primary business is selling food, such as a grocery store, delicatessen, supermarket, fruit store, or specialty food store. Meal kit subscriptions and meal delivery services are eligible. Therefore, this definition excludes, among others, retail stores and big-box stores whose primary business is selling non-food items. Some merchants may sell products or services identical or similar to those of eligible merchants, or are separate merchants located on the same premises as eligible merchants, but are classified by Mastercard in different categories. Purchases made from other merchants only earn base reward points. A restaurant purchase means a purchase made at a restaurant, including quick-service restaurants, bars, discotheques, nightclubs, and taverns. To view the full list of Mastercard codes associated with eligible merchants, download the À la carte Rewards Plan® terms and conditions document.
These protections apply if the purchases or rental are paid for in part with the card before departure, except, if applicable, for out-of-province medical-hospital insurance for which it is not necessary to charge the purchase of an à la carte trip and for baggage delay protection where the full cost of transport must have been charged to the card. All these protections apply to the primary cardholder, their spouse and/or their dependent children when they (spouse and dependent children) travel with the cardholder. Extended warranties apply to most new items purchased with the card, in Canada or abroad, provided the manufacturer’s warranty exists and is valid in Canada. Certain conditions, limitations and restrictions apply. For more information and details regarding your insurance coverage, please consult the insurance certificate linked to your card.
Subject to credit approval by National Bank.
Certain conditions apply. Visit mastercard.ca for more information. See all credit card terms and conditions.
To earn 2 points per dollar spent, you must pay for your gas or electric charging purchases at a gas station or certain big-box stores. Some merchants may sell products or services identical or similar to those of eligible merchants, or are separate merchants located on the same premises as eligible merchants, but are classified by Mastercard in different categories. Purchases made from other merchants only earn base reward points. To view the full list of Mastercard codes associated with eligible merchants, download the À la carte Rewards Plan® terms and conditions document.
Recurring bill payments are defined as payments made monthly or regularly that are automatically charged by the merchant to your National Bank World Elite Mastercard. Not all merchants offer recurring payments, and not all recurring payments are considered recurring bill payments. Therefore, some payments may not qualify for accelerated reward points.
To earn 2 points per dollar spent, you must pay for your eligible purchases through the À la carte TravelTM agency section of our À la carte RewardsTM site.
For example, if you spend $400 monthly on groceries, $200 on gas, $100 on recurring bills and $150 on other purchases, the $850 spent will generate 2,750 points, broken down as follows: 2,000 points for grocery spending (since the total gross monthly amount is $850, which is less than $2,500), 400 points for gas spending, 200 points for recurring bills and 150 points for other purchases.
Insurance up to $1,000 in case of breakage, loss or theft of mobile devices for a maximum period of 2 years following the date of purchase. Subject to purchasing the device with the National Bank World Elite Mastercard or a phone service subscription paid by recurring payments from your National Bank Platinum Mastercard starting September 1, 2022. For all conditions, please consult the insurance certificate linked to your card.
Annual fee
Primary card$150
Additional card$50
Annual income required
Individual$80,000
Household$150,000
Conversion fees
2.5%
Earning rate
5xRestaurants
5xGroceries
2xTravel
2xBills & recurring payments
2xGas & EV
1xAll spending
Value
1st Year Value$778
2nd Year Value$923
Card benefits
Airport lounge access$400
Travel creditsIncluded
Travel insurance
Travel medical (under 55)Up to $5,000,000 / 60 days
Aline, an experienced traveler and avid photographer, is an Avgeek, a foodie at heart and a mother to two children. An expert in credit cards & rewards programs, including Aeroplan, Marriott Bonvoy, American Express Membership Rewards, CIBC Aventura, and RBC Avion, she uses points to travel affordably and save in daily life. Having explored all 7 continents and 83 countries, Aline shares her travel passion and insights to help others make the most of loyalty programs.
Our reviews and rankings are based on an objective assessment. Advertisers do not influence our content. We may receive compensation through some links; our analysis and opinions remain independent.
