Head to Head: TD Aeroplan Visa Infinite vs National Bank World Elite Mastercard
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Here are two premium credit cards that chase the same cardholder with very different philosophies:
The TD Aeroplan vs World Elite matchup pits two ways of travelling on points against each other. Aeroplan points have a variable value and a high ceiling, but only if you learn how to use them. National Bank À la carte points have a fixed value and require no learning curve at all. In short, this is the "I want to maximize" card against the "I just want it to work" card. For the rest of the market, our best credit cards page ranks the other options.
Our analysis is based on the major differences between these two credit cards:
- Welcome offer: up to 50,000 Aeroplan points with TD, against a refunded first-year fee with National Bank
- Earn rates: 1.5 points per dollar on groceries, gas and Air Canada with TD, against 5 points per dollar on groceries and restaurants with National Bank
- Point value: variable and high with Aeroplan, fixed and simple with À la carte
- Travel perks: a free checked bag with TD, a $150 travel credit and the National Bank Lounge with National Bank
- Insurance: much longer medical coverage with National Bank
The comparison table
Here are both cards side by side, based on our card data as of October 20, 2026. The official terms are on the TD Aeroplan Visa Infinite card page and on the National Bank World Elite card page. We then break down each item.
| Criterion | TD Aeroplan Visa Infinite* Card | National Bank World Elite Mastercard |
|---|---|---|
| Annual fee | $139, rebated in year 1 | $150, refunded in year 1 (offer until November 4, 2026) |
| Additional card | $75 | $50 |
| Required income | $60,000 personal or $100,000 household | $80,000 personal or $150,000 household |
| Welcome offer | Up to 50,000 Aeroplan points | No points, first-year fee refunded |
| Earn rates | 1.5 pts/$ on groceries, gas and Air Canada; 1 pt/$ elsewhere | 5 pts/$ on groceries and restaurants (under $2,500 a month); 2 pts/$ on gas and bills; 1 pt/$ elsewhere |
| Milesopedia valuation | 2.0¢ per point | 0.9¢ per point |
| Annual travel credit | None | $150 |
| Airport lounges | No access | Unlimited National Bank Lounge (YUL), DragonPass membership |
| Free checked bag | Yes, cardholder and up to 8 companions | No |
| Emergency medical | $2,000,000, 21 days | $5,000,000, 60 days (up to age 54) |
| Foreign transaction fee | 2.5% | 2.5% |
Welcome bonus
The two offers are not playing the same game. TD hands out points; National Bank refunds the first-year annual fee.
The TD® Aeroplan® Visa Infinite* Card offers up to 50,000 Aeroplan points, plus a first-year annual fee rebate:
- 10,000 points on your first purchase;
- 15,000 points when you spend $3,000 within 90 days of account opening;
- 25,000 points as a one-time anniversary bonus when you spend $12,000 within 12 months of account opening.
To get the fee rebate, you must activate the card and make a first purchase within 3 months of account opening. TD does not publish an end date for this offer.
The National Bank World Elite® Mastercard®, for its part, comes with a Milesopedia exclusive offer: a refund of the first-year annual fee, worth $150 for the primary cardholder. The bank charges the fee, then refunds it as a statement credit within five months of account opening. There is no spending requirement.
Annual fee
The TD® Aeroplan® Visa Infinite* Card costs $139 a year, plus $75 per additional card. The first year is rebated.
The National Bank World Elite® Mastercard® costs $150 a year, plus $50 per additional card. With the exclusive offer, the first year costs nothing either. However, additional card fees are not refunded.
Both cards charge a 2.5% foreign transaction fee on purchases in foreign currencies. Neither one stands out here.
Required income
- TD Aeroplan Visa Infinite: $60,000 personal income or $100,000 household income;
- National Bank World Elite: $80,000 personal income or $150,000 household income.
According to its website, National Bank also accepts two other criteria: $25,000 charged to the card each year, or $400,000 in investable assets. The purchase interest rate is 21.99% at TD and 20.99% at National Bank.
Earning points
The two cards reward different spending. TD boosts everyday purchases and Air Canada; National Bank boosts groceries and restaurants, and much more aggressively.
Earn rates
The TD® Aeroplan® Visa Infinite* Card earns 1.5 Aeroplan points per dollar on:
- Groceries: 1.5 points per dollar;
- Gas and electric vehicle charging: 1.5 points per dollar;
- Purchases made directly with Air Canada: 1.5 points per dollar, Air Canada Vacations included.
All other purchases earn 1 point per dollar. According to TD's website, the accelerated categories are capped at $80,000 in spending per year.
The National Bank World Elite® Mastercard® earns À la carte points:
- Groceries and restaurants: 5 points per dollar;
- Gas and electric charging: 2 points per dollar;
- Recurring bills: 2 points per dollar;
- Trips booked through À la carte Travel: 2 points per dollar;
- All other purchases: 1 point per dollar.
National Bank's monthly cap
This detail matters. The 5 points per dollar rate only applies to the first $2,500 in gross purchases charged to the account each month, across all categories. Beyond that, groceries and restaurants drop to 2 points per dollar.
In practice, a household that spends $2,000 a month in total earns 5X on all its groceries. A household spending $6,000 a month, however, hits the cap early in the cycle, and the rest of its grocery purchases earn only 2 points.
The real return per dollar
An earn rate means nothing without the value of the point. Milesopedia values Aeroplan points at 2.0¢ and À la carte points at 0.9¢. Here is the return in cents per dollar.
| Spending category | TD Aeroplan Visa Infinite* Card | National Bank World Elite Mastercard |
|---|---|---|
| Groceries | 1.5 pts/$, or 3.0¢/$ | 5 pts/$, or 4.5¢/$ (under $2,500 a month) |
| Restaurants | 1 pt/$, or 2.0¢/$ | 5 pts/$, or 4.5¢/$ (under $2,500 a month) |
| Gas and electric charging | 1.5 pts/$, or 3.0¢/$ | 2 pts/$, or 1.8¢/$ |
| Recurring bills | 1 pt/$, or 2.0¢/$ | 2 pts/$, or 1.8¢/$ |
| Direct Air Canada purchases | 1.5 pts/$, or 3.0¢/$ | 1 pt/$, or 0.9¢/$ |
| All other purchases | 1 pt/$, or 2.0¢/$ | 1 pt/$, or 0.9¢/$ |
Redeeming points
This is the heart of the comparison. The two programs do not demand the same effort.
Aeroplan: high potential, variable value
Our 2.0¢ value for an Aeroplan point is an average. In practice, it depends on how you redeem:
- Economy flight: about 1.5¢ per point;
- Business class flight: about 2.2¢ per point;
- First class flight: about 2.8¢ per point;
- Hotel: about 1.0¢ per point.
A realistic range is therefore 1.5¢ to 2.2¢ for a traveller who books flights. You do need to search for availability, compare points prices and accept some flexibility. If you redeem for hotels or gift cards, the value quickly falls below 1¢. Our Aeroplan program page covers the redemption rules.
À la carte: fixed value, no learning curve
National Bank points work like a currency. According to our program page, the À la carte Travel agency offers the best value: 10,000 points for $100, or 1¢ per point. A statement credit for a trip paid in the previous 60 days works out to about 0.83¢ per point.
You don't search for availability and you don't run any numbers. On the other hand, the ceiling is low: an À la carte point will never be worth 2¢. Our guide on using NBC rewards points for travel explains each redemption option.
Insurance
National Bank clearly wins on emergency medical coverage. It reaches $5,000,000 for 60 days up to age 54, 31 days from 55 to 64 and 15 days from 65 to 75. TD's coverage is $2,000,000 for 21 days, or 4 days at age 65 and over.
The table below summarizes the main coverages. National Bank wins on trip cancellation, while TD covers delayed baggage better and adds hotel burglary insurance. Our World Elite insurance guide has every detail.
| Coverage | TD Aeroplan Visa Infinite* Card | National Bank World Elite Mastercard |
|---|---|---|
| Emergency medical | $2,000,000, 21 days (4 days at 65+) | $5,000,000, 60 days up to age 54, 31 days from 55 to 64, 15 days from 65 to 75 |
| Trip cancellation | $1,500 | $2,500 per person |
| Trip interruption | $5,000 | $5,000 |
| Flight delay | $500 | $500 |
| Delayed baggage | $1,000 | $500 |
| Lost baggage | $1,000 | $1,000 |
| Car rental | $65,000, 48 days | $65,000, 48 days |
| Hotel burglary | $2,500 | Not listed in our card data |
| Purchase protection | 90 days | 180 days |
| Extended warranty | 1 year | Up to 2 years |
| Mobile devices | $1,000 | $1,000 |
Annual perks
Annual perks often decide this matchup.
The National Bank World Elite® Mastercard® offers a $150 annual travel credit. It covers airport parking, baggage fees, seat selection, airport lounge access and upgrades. Our tutorial on the $150 travel reimbursement shows how to claim it.
It also gives free, unlimited access to the National Bank Lounge at Montreal-Trudeau, with one guest and two children aged 12 and under. Since October 5, 2026, the lounge has been operating as a temporary space near gate 53, in the international zone. Finally, the card includes a DragonPass membership; visits are paid, but the $150 credit can cover them.
The TD® Aeroplan® Visa Infinite* Card focuses on Air Canada instead. It offers a free first checked bag to the cardholder and up to 8 companions on the same reservation, when travel starts on an Air Canada flight. It adds a NEXUS rebate of up to $100 every 48 months and Visa Infinite concierge service. It does not, however, include any lounge access.
Verdict by profile
No card wins for everyone. Here are three distinct profiles.
The frequent Air Canada flyer
You fly Air Canada several times a year, often with family. In that case, the TD® Aeroplan® Visa Infinite* Card is the clear pick. The free bag for the whole reservation pays off on every flight, and the 50,000-point bonus already funds a first trip. Your points are also worth more if you aim for business class.
The occasional traveller
You travel once or twice a year and most of your spending goes to groceries and restaurants. In that case, the National Bank World Elite® Mastercard® earns more day to day. The 5X on groceries, the $150 credit and the 60-day medical coverage fit this profile well.
The reader who wants zero complexity
You don't want to hunt for availability or track promotions. The National Bank World Elite® Mastercard® is built for you. A point is worth about 1¢ on travel, full stop. With Aeroplan, the real value depends on your effort.
Why not both?
The two cards come from different issuers, and their strengths complement each other. Many readers put groceries and restaurants on the National Bank card, under the $2,500 monthly cap, then gas and Air Canada flights on the TD card.
Conclusion
So which card wins? In the first year, the TD® Aeroplan® Visa Infinite* Card comes out ahead thanks to its 50,000-point bonus. For a traveller loyal to Air Canada, it remains the best long-term choice.
However, the National Bank World Elite® Mastercard® wins from the second year onward for most households. Its 5X on groceries, $150 travel credit and stronger insurance more than make up for the lack of bonus points. Our full World Elite review covers its other strengths. To compare against another Aeroplan card, read our RBC Avion vs TD Aeroplan matchup as well.
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Exclusive
- Annual feeNo annual fee the first year
- $0 $150
- Our valuationMilesopedia 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.
- $150
- Welcome offer$150 annual fee rebated
- First Year Annual Fee Rebate
- Ends Nov 4, 2026
Apply Now
on National Bank's website
Frequently asked questions about TD Aeroplan vs World Elite
Which card has the better welcome offer?
The TD® Aeroplan® Visa Infinite* Card offers up to 50,000 Aeroplan points, plus a first-year annual fee rebate. At our 2.0¢ valuation, that is worth about $1,000. The National Bank World Elite® Mastercard® instead refunds its $150 first-year fee, through a Milesopedia exclusive offer that runs until November 4, 2026. See every offer on our best Aeroplan credit cards page.
How much is an Aeroplan point worth compared to an À la carte point?
Milesopedia values Aeroplan points at 2.0¢ and National Bank À la carte points at 0.9¢. Aeroplan value ranges from about 1.5¢ in economy to 2.2¢ in business class, though. À la carte points reach 1¢ through the À la carte Travel agency, with no variation by date. Our points valuation explains the method.
Which card earns more on groceries?
The National Bank World Elite® Mastercard®, as long as you stay under $2,500 in gross purchases per month. It earns 5 points per dollar, or about 4.5¢ in value. The TD® Aeroplan® Visa Infinite* Card earns 1.5 Aeroplan points per dollar, or about 3.0¢ at our average valuation.
Which card has better travel insurance?
National Bank, by a wide margin on medical: $5,000,000 for 60 days up to age 54, against $2,000,000 for 21 days with TD. Trip cancellation also goes up to $2,500, against $1,500. TD keeps the edge on delayed baggage and hotel burglary.
Which card includes airport lounge access?
Only the National Bank World Elite® Mastercard®. It offers free, unlimited access to the National Bank Lounge at Montreal-Trudeau, in the international zone, with one guest. It also includes a DragonPass membership, whose paid visits can be covered by the $150 travel credit. The TD card offers no lounge access.
Which card includes a free checked bag?
The TD® Aeroplan® Visa Infinite* Card. The cardholder and up to 8 companions on the same reservation check their first bag for free, when travel starts on an Air Canada flight. The National Bank card does not offer this perk, but its $150 credit can reimburse baggage fees.
What income do you need for each card?
TD requires $60,000 in personal income or $100,000 in household income. National Bank requires $80,000 in personal income or $150,000 in household income. According to its website, it also accepts $25,000 in annual card spending or $400,000 in investable assets.
Can you hold both cards at the same time?
Yes, since they come from different issuers. A common strategy is to put groceries and restaurants on the National Bank card, under the monthly cap, and gas and Air Canada flights on the TD card. That way, you benefit from both welcome offers.