BMO and National Bank each offer a World Elite Mastercard credit card with travel rewards:
At first glance, they may seem to be identical, especially because of their name! But which one is the most advantageous?
Let’s look at each of their features in detail, to distinguish these two credit cards.
The National Bank World Elite Mastercard requires:
The BMO Ascend World Elite Mastercard requires a minimum income of:
Both World Elite Mastercard cards require the same criteria to qualify.
With the current welcome offer, receive up to 35,000 bonus points earned as follows:
What’s more, the annual fee is fully refunded in the first year.
When you sign up for the BMO Ascend World Elite Mastercard, you can earn up to 100,000 BMO Rewards points as well as a $150 annual fee waived for the first year :
With its extra points requiring less spending, the BMO Ascend World Elite Mastercard®* is the best!
Each calendar year, the holder of a National Bank World Elite Mastercard is entitled to a total of $150 applicable to certain travel-related expenses:
No annual travel credit for BMO Ascend World Elite Mastercard holders. However, as mentioned above, you can take advantage of an attractive$150 annual fee waiver for the first year.
With the reimbursement of up to $150 in travel expenses, the National Bank World Elite Mastercard wins this round.
It should be noted that these two cards share similar privileges, being World Elite Mastercard cards :
Having access to an airport lounge before a flight is convenient.
The National Bank card provides complimentary and unlimited access to the National Bank Lounge.
The cardholder, 1 guest and up to 2 children (under 12) enter the lounge on presentation of the card. National Bank World Elite Mastercard.
Like all Mastercard World Elite cards, you have the option of purchasing admission to the National Bank and Air France lounges, both members of the DragonPass network.
This card entitles you to 4 free visits a year to these lounges.
For unlimited access, the advantage is for the National Bank World Elite Mastercard. This is especially convenient for the cardholder and her/his family.
Both credit cards offer purchase categories that allow you to earn more rewards points.
With the National Bank World Elite Mastercard, you can earn up to 5 points per dollar:
For the Grocery and Restaurant category, you will be able to earn 5 points per dollar up to $2,500 in total monthly purchases charged to the card. Starting at $2,501, points are accumulated at a rate of 2 points per dollar for 5 X points categories.
With the BMO Ascend World Elite Mastercard, you can earn 5 BMO Rewards points per dollar spent on travel.
And you get 3 points for every dollar you spend on:
With an accumulation rate of up to 5 points per dollar, the National Bank World Elite Mastercard has the edge over BMO’s Card for everyday spending.
On the other hand, if you make a lot of travel purchases with your credit card, it will be more attractive to opt for the BMO Ascend World Elite Mastercard®*.
Outside these accelerated purchase categories, the BMO Ascend World Elite Mastercard and the National Bank World Elite Mastercard offer a basic accumulation rate.
With the National Bank World Elite Mastercard, you can earn 1 point per dollar on all other purchases.
This represents a value of approximately 1%.
With the BMO Ascend World Elite Mastercard, you can earn 1 point per dollar on all other purchases.
For out-of-category purchases, both cards offer a similar return of approximately 1% per dollar of purchase.
Both cards are reward point cards, mainly for travel.
However, the loyalty programs are completely different:
This means that the ways you can redeem your points are different.
You can use the points from both credit cards for travel.
With the National Bank World Elite Mastercard, you can apply your points to travel purchases.
The redemption rate is:
A minimum of 12,000 points (or 10,000 points through the Travel A la Carte Agency, i.e. a minimum of $100) must be redeemed.
With the BMO Ascend World Elite Mastercard, you can redeem your points via the BMO Rewards portal.
The usage rate is 10,000 points = $71 for BMO Rewards travel purchases.
The National Bank World Elite Mastercard does not require trading to a specific agency or redeeming a large number of points to achieve a good redemption rate.
The BMO Ascend World Elite Mastercard and the National Bank World Elite Mastercard both allow points to be used for other rewards: everyday purchases, gift cards, products, investments.
But we do not recommend these uses because of the low value.
To redeem your National Bank World Elite Mastercard Rewards points, you’ll need to log in to your online account at NBC À la carte Rewards Program. You can contribute to an RRSP or TFSA, or pay off your all-in-one line of credit or mortgage: 12,000 points = $100.
You can also get a gift card: 12,000 to 13,500 points for a $100 gift card.
Finally, you can apply your points to everyday purchases for a statement credit: 25,000 points = $100.
It’s hard to tell the difference between the two cards on this aspect: the redemption rate is quite similar. Better to use the points for travel!
Both credit cards have similar annual fees.
The National Bank World Elite Mastercard has an annual fee of $150.
However, this card offers an annual travel credit of $150, so it costs you almost nothing each year!
The BMO Ascend World Elite Mastercard has an annual fee of $150 (but has an annual fee waiver for the first year).
However, it comes with four airport lounge visits, which may justify its cost.
By using the $150 annual travel credit, your National Bank World Elite Mastercard could be virtually “free” year after year.
Both credit cards offer extensive insurance.
With its more generous insurance coverage, the National Bank World Elite Mastercard has the edge over the BMO Card.
So? Which Card is the winner?
First, it should be noted that both are great credit cards to use at Costco!
With the National Bank World Elite Mastercard, you’ll enjoy the following benefits:
Against it, the BMO Ascend World Elite Mastercard®* stands out for:
This credit card is perfect for people who travel regularly and require extensive insurance.
Note that both cards offer interesting advantages; they are accepted at Costco and have excellent insurance coverage. It’s up to you to choose between these two excellent credit cards according to your needs!
Savings are here:
