Which card is more advantageous for groceries and restaurants?

Both cards earn 5 points per dollar on groceries and at restaurants up to $2,500 in monthly purchases. Above that cap, the Cobalt drops to 1 point per dollar, while the NB World Elite continues at 2 points. However, Cobalt Membership Rewards points are worth about 2¢ each when transferred to Aeroplan, versus about 0.9¢ for NB À la carte points. On the first $2,500 per month, the Cobalt offers an effective return about twice as high.

Does the $150 travel credit really make the NB World Elite free?

Yes, in practice. The $150 annual fee is offset by an automatic $150 travel credit each year, applicable to baggage fees, seat selection, lounge access, and airport parking. As long as you spend at least $150 per year in these categories, the card is free. For people who never travel, the Cobalt at $191.88 becomes the better economical choice, since you will not recoup the NB travel credit.

Can National Bank À la carte points be transferred to partners?

No. NB À la carte points remain locked in National Bank’s rewards portal, which means flights and hotels are priced at a fixed rate in cents per point. The Cobalt, by contrast, transfers Membership Rewards points 1:1 to Aeroplan, British Airways Avios, Air France-KLM Flying Blue, and other airline partners, and 5:6 to Marriott Bonvoy. For rewards enthusiasts who want to book business class or maximize award tickets, the Cobalt’s flexibility makes all the difference.

Which one has the best travel insurance?

The National Bank World Elite Mastercard clearly wins on this point. It includes emergency medical insurance up to $5,000,000 (60-day trip duration), trip cancellation up to $2,500, and common carrier accident insurance up to $500,000. The Cobalt offers lighter coverage: emergency medical insurance up to $5,000,000 but only on 15-day trips for those under 65, plus baggage delay and trip interruption with lower limits. Frequent travellers and snowbirds should favour NB.