National Bank Credit Cards: Record-High Offers of Up to 70,000 Points!

National Bank has just announced a new pair of all-time-high welcome bonuses on the National Bank World Elite Mastercard and the National Bank Platinum Mastercard. The offers are available until January 13, 2023.

The National Bank World Elite Mastercard is offering up to 70,000 À la carte Rewards, structured in three parts. Similarly, the National Bank Platinum Mastercard is offering the same three-part structure for up to 35,000 À la carte Rewards as a welcome bonus.

National Bank World Elite Mastercard: Up to 70,000 À la carte Rewards

The offer for the National Bank World Elite Mastercard includes a $150 annual fee rebate for the first year, as well the following three-part structure for the welcome bonus:

  • 30,000 À la carte Rewards upon spending $5,000 within the first three months
  • 10,000 À la carte Rewards upon signing up for credit card payment insurance
  • 30,000 À la carte Rewards upon spending $12,000 in the first 12 months

If you meet both minimum spending requirements, you can think of your total first-year earnings as 60,000 À la carte Rewards. However, note that the second portion of 30,000 points aren’t awarded until the cardholder anniversary date.

To receive the full welcome bonus of 70,000 points, you’ll need to sign up for credit card payment insurance. You’ll want to compare the cost of this service against the extra 10,000 points, which is worth up to $100.

In terms of the returns on daily spending, the National Bank World Elite Mastercard allows you to earn:

  • 5 points per dollar spent on groceries and restaurant purchases
  • 2 points per dollar spent on gas, electric vehicle charging, recurring bills, and travel booked through the À la carte Travel Portal
  • 1 point per dollar spent on all other purchases

This is the highest earning rate among Mastercards in Canada. However, note that there is a monthly spending cap on categorized purchases: if your total gross monthly amount of purchases (regardless of category) are under $2,500, the 5x multiplier on groceries and restaurant purchases will apply; on the other hand, if your purchases in one month exceed $2,500, the earning rate on those food purchases will be at 2 points per dollar.

Earn 5x on groceries and restaurants with the National Bank World Elite Mastercard

If we were to add the points that you earn from meeting the initial spending threshold of $5,000 in spending, we can conclude that you’d earn at least 35,000 À la carte Rewards the first year, which is worth a cool $350. This is on top of the $150 first year primary cardholder fee rebate.

You then have the option of pursuing the remaining set of 30,000 points by spending $12,000 in the first year, which would result in a total points haul of 72,000 À la carte Rewards – worth $720 – if completed.

Finally, don’t forget about the $150 Annual Travel Credit that comes with this card, which is easy to redeem against a wide range of eligible travel expenses, including:

  • Airport parking
  • Baggage fees
  • Seat selection
  • Airport lounge access
  • Airline ticket upgrades

In addition, the card comes with complimentary unlimited visits to the National Bank Lounge at Montréal Pierre Elliott Trudeau International Airport for the cardholder and one accompanying guest. This lounge is located in the international terminal, and isn’t available to passengers departing on domestic or transborder flights.

Enjoy complimentary access to the National Bank Lounge at Montreal Trudeau International Airport 

Insurance on the National Bank World Elite Mastercard

Of note, the National Bank World Elite Mastercard offers an unparalleled suite of travel and lifestyle insurance.

First off, the card’s insurance can be used on award tickets, since it only requires partial payment of the trip to the credit card.

Furthermore, the card’s emergency medical insurance stands out, as it covers trips up to 60 days in duration and $5,000,000 in damages. Even cardholders over 65 even have coverage for up to 15 days, and if you’re between 55 and 64 years old, you’ll get 31 days of emergency medical insurance.

Rental car insurance on the National Bank World Elite Mastercard is also longer than the industry standard, with coverage for up to 48 consecutive days. 

Enjoy rental car insurance for up to 48 consecutive days with the National Bank World Elite Mastercard

Purchase protection and extended warranty coverage is also twice that of most World Elite Mastercards.  You’ll get up to two years of additional warranty coverage, and 180 days of protection against stolen or damaged merchandise.

Finally, there is $1,000 of mobile device insurance, with coverage up to two years after the purchase date.

Compared to the BMO Ascend World Elite Mastercard, another well-known Canadian credit card for covering award tickets, the National World Elite Mastercard has it beat on every account.

National Bank Platinum Mastercard: Up to 35,000 À la carte Rewards

Now let’s talk about the National Bank Platinum Mastercard. Like the World Elite variant, the primary cardholder’s first-year annual fee of $89 is waived under the current offer. 

Meanwhile, the welcome bonus is granted as follows:

  • 15,000 À la carte Rewards upon spending $3,000 within the first three months
  • 10,000 À la carte Rewards upon signing up for credit card payment insurance
  • 10,000 À la carte Rewards upon spending $6,000 in the first 12 months

Again, you can think of your first-year earnings as 25,000 À la carte Rewards if you meet both spending thresholds, but note that the second portion of 10,000 points aren’t earned until the cardholder anniversary date.

The earn rates on everyday spending on the National Bank Platinum Mastercard are as follows:

  • 2 points per dollar spent on groceries and restaurant purchases
  • 1.5 points per dollar spent on gas, electric vehicle charging, recurring bills, and travel booked through the À la carte Travel Portal
  • 1 point per $1.50 spent on all other purchases

If we were to add the points that you earn from meeting the initial spending threshold of $3,000 in spending, we can conclude that you’d earn at least 27,000 À la carte Rewards the first year. This is worth a cool $270, and comes on top of the $89 first year primary cardholder fee rebate.

Similar to the National Bank World Elite Mastercard, if your total gross monthly amount of purchases (regardless of category) are under $1,000, the 2x multiplier on groceries and restaurant purchases will apply. However, if your purchases in one month exceed $1,000, the earning rate on those food purchases will drop down to 1.5x points per dollar spent.

Earn 2 points per dollar spent on groceries and restaurants with the National Bank Platinum Mastercard

As for the insurance coverage on the National Bank Platinum Mastercard, it’s not quite as good as the National Bank World Elite Mastercard, but it’s still excellent for a card of this tier. 

Award tickets are covered for insurance, as only partial payment to the credit card is required. This also applies to trip cancellation, trip interruption, and flight delays.

Emergency medical insurance of up to $5,000,000 is included for trips to 10 days, for travellers up to 75 years old.

There’s also extended warranty coverage, which doubles the manufacturer’s warranty up to two additional years, and purchase protection of up to 180 days against stolen or damaged merchandise.

Redeeming À la carte Rewards Points

National Bank’s points, À la carte Rewards, can be redeemed through their online travel booking portal. Through this method, À la carte Rewards points have a fixed value of 1 cent per point.

In the portal, you can also redeem points for a statement credit against travel expenses not booked through the portal. However, redeeming points this way comes at a lower value of 0.83 cents per point when redeeming fewer than 55,000 points, or 0.91 cents per point when redeeming more than 55,000 points.

While booking travel through the portal isn’t the most flexible redemption option, it’s still better value than the 0.83 cents per point (cpp) that National Bank provides when using À la carte Rewards for straight cash back against any purchase.

Therefore, we can think of the first year welcome bonus on the National Bank World Elite Mastercard as worth up to $350, with the potential to be $700 after the first-year anniversary date.

As for the National Bank Platinum Mastercard, it’s a similar story, where the first year welcome bonus is worth up to $150, with the potential to grow to $350 after the first-year anniversary date.

Note that À la carte Rewards never expire as long as you remain a cardholder.

Is the Anniversary Bonus Worth It?

Both the National Bank World Elite Mastercard and the National Bank Platinum Mastercard offer an anniversary bonus of some kind:

  • 30,000 À la carte Rewards upon spending $12,000 in the first year with the World Elite Mastercard
  • 10,000 À la carte Rewards upon spending $6,000 in the first year for the Platinum Mastercard

Normally, the anniversary bonus isn’t necessarily worth it unless you’re planning to hold the card for another year. In this case, National Bank’s suite of Mastercards are quite strong in terms of benefits, insurance, and earning rates, so there’s a great case to be made for keeping them around in your wallet.

If you plan on keeping the cards, you might as well spend an additional either $500 or $1,000 per month on the Platinum or World Elite card, respectively, and earn the full first-year anniversary bonus.

Indeed, 30,000 or 15,000 points are worth $300 or $150, respectively, when redeemed for travel through the À la carte Rewards travel booking portal. In both cases, this can justify paying for the $150 annual fee for the second year.

Apply Now

Until January 13, 2023, the National Bank World Elite Mastercard is offering a strong welcome bonus of 30,000 À la carte Rewards, which is worth at least $300 in value. The current offer also includes a first-year $150 annual fee waiver and a $150 travel credit.

The National Bank World Elite Mastercard requires a minimum personal annual income of $80,000, a household income of $150,000, or assets of $400,000 at any Canadian financial institution to be eligible.

Meanwhile, the National Bank Platinum Mastercard is also offering a respectable 15,000 À la carte Rewards in the first year, which is worth $150. In addition, you’ll enjoy having the $89 annual fee waived in the first year.

On both cards, you can earn additional points by meeting an annual spending requirement. These points are awarded on the cardholder anniversary date, at which point you’ll also incur a second-year annual fee.

The combination of lengthy emergency medical insurance, coverage on award tickets, and solid everyday earn rates makes the National Bank World Elite a Mastercard product that’s quickly rising in prominence. Throw in the record-high welcome bonus we’re seeing this quarter, and now might be a great time to add the card to your wallet.

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