Review: Desjardins Cash Back World Elite Mastercard
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Key features
The Desjardins Cash Back World Elite Mastercard does not come with a welcome offer when you apply, but it does offer attractive earning rates. Let’s review its features.
Annual fee
The annual fee is $100. Additional cards are free for Desjardins members and $30 per year for non-members.
To qualify for this card, you must meet one of these conditions:
- a minimum individual annual income of $80,000; or
- a minimum household income of $150,000; or
- assets under management of $400,000 or more.
Cash back earning rates
A percentage of every purchase charged to the Desjardins Cash Back World Elite Mastercard is converted into cash back, based on the merchant where the purchase is made.
- 4% on grocery purchases
- 3% on restaurant purchases
- 3% on entertainment purchases
- 3% on public transit purchases
- 1% on pre-authorized payments (monthly or recurring payments to a supplier)
- 1% on all other categories
You can also check which earning category your favourite merchants fall into with this handy tool.
How cash back is paid out
Cash back is credited to the credit card account of the primary cardholder. The account must be in good standing and must have been paid on time during the period.
However, the following transactions do not count toward the cash back calculation:
- merchandise returns
- cash advances by equal instalments and RRSP cash advances
- promotional and regular cheques
- Accord D financing at merchants
- credit charges and foreign currency purchases
- electronic funds transfers and money orders
- any type of purchase made in a casino.
Accumulated cash back is automatically credited to the account once it reaches $100.
For example, a $100 grocery purchase earns $4 in cash back. A $200 purchase of theatre tickets (entertainment) translates into $6 in cash back.
Travel insurance
When you travel, the Desjardins Cash Back World Elite Mastercard provides insurance coverage for trips of 3 days or less:
- Medical
- Trip cancellation
- Baggage theft, loss or damage
This means that on the fourth day of a trip, these protections are no longer valid. To extend them, you must submit a request to Desjardins and pay the premium before the coverage ends.
All of these protections apply to the cardholder, their spouse and their dependent children.
For all the conditions and protections, here is the travel insurance guide for the Desjardins Cash Back World Elite Mastercard.
Medical insurance
Emergency health care coverage pays up to $5,000,000 per person aged 75 and under. It includes transportation, repatriation, subsistence allowance and dental care.
Trip cancellation
Coverage is $500 per person if the trip is cancelled before departure. If the trip is interrupted after departure, coverage is $1,000.
Note that the carrier’s ticket must have been paid with the Desjardins Cash Back World Elite Mastercard. This protection applies to people aged 75 and under.
Baggage theft, loss or damage
Compensation for baggage that is lost, stolen or damaged by the common carrier can reach $500 per person.
Reimbursement is capped at $250 if official documents (such as a passport) are stolen, damaged or lost.
If baggage is delayed by more than 6 hours, compensation can reach $500. This lets you buy toiletries and essential clothing while you wait for your luggage.
There is no age limit for this protection.
Travel assistance service
A travel assistance service is also available to help you in the event of:
- lost documents (passport, identity papers, etc.)
- lost travel tickets (such as a plane ticket)
- a medical emergency, a need for legal assistance or a language barrier.
Simply call Desjardins to start the process.
Accident protection
In the event of accidental death during a flight or otherwise, the insurance amount can reach up to $10,000.
In the event of serious injury such as the loss of use of one or more body parts (hand, foot or eye), the amount paid is also up to $10,000.
Mastercard benefits
Through the Mastercard network, you get privileges that make your trips more comfortable:
- Membership in the Mastercard Travel Pass program, which gives access to more than 1,000 airport lounges worldwide. Entry fees are US$32 per person
- Free international mobile data through FlexiRoam (up to 3 GB for World Elite cardholders)
- Priceless Cities program, for exclusive experiences and events
- Mastercard Travel Rewards shopping portal for premium brands
Car rental – Discounts and insurance
Theft and damage insurance for rental vehicles is provided for a maximum of 48 consecutive days. The full cost of the rental must be charged to the card.
To be covered up to the actual value of the damaged or stolen rental vehicle, you must decline the collision damage waiver offered by the rental company.
Purchase protection and extended warranty insurance
Purchase protection covers eligible items against loss or damage for 120 days following the purchase date.
An extended warranty also doubles the manufacturer’s original warranty period, up to a maximum of 2 years.
All items eligible for this protection and warranty must have been purchased with the card. The conditions are set out in the insurance guide.
Mobile device insurance
Compensation of up to $1,000 is available in the event of loss, theft, accidental damage or mechanical breakdown of a smartphone or tablet.
However, the following conditions must be met:
- The mobile device must have been paid for with the Desjardins Cash Back World Elite Mastercard
- The card must have been used to pay the initial costs and all monthly wireless bill payments if the purchase was financed through a plan
A deductible applies based on the purchase price of the device. The other conditions are set out in the mobile device insurance guide.
Other cash back credit cards
Here are other credit cards you could consider instead of the Desjardins Cash Back World Elite Mastercard, with the advantage of offering a welcome bonus:
| Credit card | Annual fee | Welcome offer | |
|---|---|---|---|
| $191.88 | |||
| $0 | |||
| $119.88 | |||
| $0 | |||
| $0 | |||
| $0 | |||
| $0 |
Conclusion
With solid earning rates on everyday purchases as well as on other spending, the Desjardins Cash Back World Elite Mastercard can be a good credit card to keep in your wallet.
Frequently asked questions about the Desjardins Cash Back World Elite Mastercard
Here are questions frequently asked in the milesopedia community about this card.
What is the minimum income to get the Desjardins Cash Back World Elite Mastercard?
Desjardins requires a minimum personal income of $80,000, a household income of $150,000 or assets under management of at least $400,000. This criterion is standard for World Elite Mastercard products in Canada and is not negotiable. Well-established Desjardins members do get one significant advantage: additional cards are free for members ($30 for non-members), which lets a spouse or an adult child earn the same 4% return on groceries at no extra cost.
How does the 4% on groceries compare with the competition?
With 4% cash back on groceries and no monthly cap, the Desjardins card ranks among the best options in Quebec, tied with the Scotia Momentum Visa Infinite + (also 4%). It comfortably beats no-fee cards such as the Tangerine Money-Back Credit Card (2% only). On a monthly grocery budget of $600, the card returns $288 per year in that category alone, which covers almost three times its $100 annual fee. It is one of the best uncapped cash back rates in the country.
How does redeeming the cash back work?
Cash back accumulates monthly in your card account and can be applied as a credit once it reaches $100. You request the redemption through AccesD or the Desjardins mobile app, and the credit is applied to your balance within a few days. There is no expiry date as long as the account stays open and in good standing. Members can also choose to transfer the cash back to a savings account or an RRSP at Desjardins, which makes it a useful way to automate part of their savings effortlessly.
Is the travel insurance enough for an annual vacation?
The basic travel insurance covers trips of 3 days or less, with emergency medical coverage of up to $5 million, trip cancellation of $500 to $1,000, and baggage coverage of up to $500. For longer stays (a week or more), you need to add complementary travel insurance from Desjardins or buy a policy elsewhere. The card also includes mobile device insurance of up to $1,000 and car rental coverage for up to 48 days, which remains very complete for this segment.