Pages Menu
Categories Menu

Posted by in Cashback

World Elite Mastercard Review

World Elite Mastercard Review

.

You should get this card!

Are you looking for the best cashback credit card out there? Then the World Elite MasterCard is probably on the top of your list. Here is a quick snapshot of what makes it one of the best cash back credit cards in Canada.

  1. 1.75% cash back on everything!
    • This is probably enough of a reason to get the card alone
  2. Complimentary roadside assistance program
    • Free battery charge/boosts, flat tire changes, lock smith service and towing
  3. Travel and medical protection
    • Collision & damage on rental cars, unexpected return home benefits, 8 days of out-of-country emergency medical benefits up to $2 million
  4. Extended warranty
    • Doubles the original manufacturer’s warranty period (up to a max of two additional years)

The only downside with this card is that there are no preferred categories with a higher % cash back. Unlike other cards that pay more on gas/groceries with this card you get the same 1.75% on all purchases.

A smart consumer would choose to have a couple of credit cards at their disposal with the World Elite MasterCard being the best one for all those ‘other’ categories that don’t get a preferred cash back rate.

The Details:

  • Annual Fee: $120 (waived for first year)
  • Interest Rate (purchases): 19.99%
  • Cash Advance and Balance Transfer Interest Rate: 22.99%

Welcome Bonus:

  • Welcome bonus of $150 that is split into two levels.
    • Level 1: $50 after first purchase on card
    • Level 2: $100 after $3,000 in spending during first 3 months

Benefits:

The World Elite MasterCard comes with some travel benefits that we already mentioned above.

  • Travel and medical protection
    • Collision & damage on rental cars, unexpected return home benefits, 8 days of out-of-country emergency medical benefits up to $2 million

In addition there are some other cool benefits like roadside assistance and extended warranty.

  • Complimentary roadside assistance program
    • Free battery charge/boosts, flat tire changes, lock smith service and towing
  • Extended warranty
    • Doubles the original manufacturer’s warranty period (up to a max of two additional years)
  • Purchase protection plus
    • Items bought with your card are automatically insured, against theft or damage for 180 days from date of purchase
  • Free additional cards
    • Get additional cards and no cost, good for maximizing your cash back

Final Thoughts:

This World Elite MasterCard is an awesome cash back credit card with some pretty good additional benefits. Although there is a fee of $120 this can easily be made up by the extra 0.75% cash back vs normal cash back credit cards in Canada.

Annual spending of over $16,000 per year will pay for the annual fee. So if you’re spending more than $1,333 on your credit card each month then this may be the card for you.

There are other cards out there with higher cash back on certain categories (like gas and groceries) so a smart consumer would have two/three cards in their wallet. The World Elite MasterCard would be great for spending that doesn’t fall within those special categories.

All in all this is a great card with a pretty good welcome bonus. If anything you should give it a try for the first year and see how it works for you.

.

Check Out The Best Credit Cards In Canada!

Disclaimer: bestcreditcardscanada.com makes no representations as to accuracy, completeness or validity of any information on this site and will not be liable for any errors, omissions, or delays in this information or any losses, injuries, or damages arising from its display or use. All data and information provided on this site is for informational purposes only.