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Aspire Travel World MasterCard Review

Aspire Travel World MasterCard Review

This credit card from Capital One is one of the most generous travel credit cards available in Canada. The travel points can be accumulated quickly relative to other travel cards and the redemption rate seems to be pretty good. Here is the full Aspire Travel World MasterCard review.

Aspire Travel World MasterCard Review:

Interest Rate: Prime + 16.8% (A total of 19.8% as of June 2014)

Annual Fee: $120/yr
Supplemental Card Fee: $0/yr

Rewards: 2 reward miles for every $1 spent (on all purchases, not just gas/groceries!)

Redemption: Redeem 100 miles for $1 off your travel expenses, so $0.01/mile (for redemptions above $600)

Fine Print:

– Must have excellent credit
– Must have individual income of +$60k or…
– Must have household income of +$100k

Extra Perks:
Because this is a travel reward card there are a number of extra perks that come with this card but one interesting one is that you get 10,000 bonus miles on your cards anniversary each year. At a redemption rate of 100 miles per $1 in free travel that is about $100 in bonus miles each year. This is almost enough to cover the annual fee.

There are also a number travel rewards perks attached to this card. For specific details on these perks visit the Capital One website but here is a summarized list.

– Travel Emergency Medical
– Trip Cancellation
– Trip Interruption
– Flight Delay
– Baggage Loss
– Baggage Delay
– Travel Accident Insurance
– Car Rental Collision/Loss Damage Waiver
– MasterAssist™ Travel Assistance
– Price Protection
– Extended Warranty
– Purchase Assurance
– Concierge Services

Extra/Hidden Fees:
None that we could see. But if you have feedback/experience with extra fees on this card please add your feedback in the comments below.

Additional Comments:

The Aspire Travel World MasterCard is an excellent travel card. There are a few key features that make it one of the best travel cards in Canada.

The first key feature is the excellent rewards. At 2 miles/$ this is one of the highest reward rates in Canada. On top of this rewards are earned on all purchases, not just certain types of purchases (ie gas/grocery) or purchases from certain retailers.

The second feature is the annual bonus of 10,000 miles. At a redemption rate of 100 miles per $1 in free travel this offsets a large part of the annual fee making this card almost free. For a card with this kind of reward rate and low annual fee it ranks pretty high on our list of travel credit cards.

Overall this is an excellent card but there are a couple of draw backs. First of all the requirements for the card can be tough for many potential customers to meet. According to the Capital One website in addition to the income requirements stated above one of the other requirements for this card is having “Excellent Credit”, which means that:

Excellent Credit Requirement:

  • You’ve had open credit such as a credit card, loan or line of credit for three years or more
  • In the last seven years, you have not had any bankruptcies or defaults as a result of failing to pay debts back to creditors
  • In the last three months, you haven’t opened or requested any new credit
  • You’ve made at least the required minimum payments on your existing credit on time in the past six months

Reviews on the Capital One website highlight another potential draw back with this card, low credit limits. Capital One has specific requirements for credit limit increases and it can be difficult for some customers to meet these requirements. As a result some customers found that they were able to get cards with higher limits from other companies that more suited their monthly spending level.

Aspire Travel World MasterCard Review: Final Thoughts

This is an excellent card, one of the best travel cards in Canada. It has a low net annual cost (after annual bonus) and the rewards rate is one of the highest for travel cards in Canada. If you want to earn travel rewards quickly then this is a card you should seriously consider!

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