Wednesday, July 6, 2022

Changes to the National Bank World Elite MasterCard

 

On September 1, 2022, National Bank will be making changes to the World Elite Mastercard credit card. 

New way to earn rewards points

You may be able to earn more points in certain categories by spending the same amount. Points will still be redeemed for the same value.

These are positive changes. From my point of view, the value of 1 National Bank rewards point is around 0.9 cents. So, 5X points = 4.5% return, which is pretty good for grocery and restaurant purchases. 

The new accumulation rate will apply the day after your September 2022 billing date. For purchases from the À la carte Travel Agency, the new accumulation rate will apply on September 1, 2022.

Changes to insurance coverage

For purchases on or after September, 2022, a number of changes will apply:

  • Addition of mobile device coverage for two years
  • Withdrawal of coverage for personal effects aboard a rental vehicle
  • Clarification of the multiple coverage clause

Changes to reimbursement of travel expenses

Effective January 1, 2023, your travel benefits will be adjusted:

  • Introduction of new eligible travel expenses: airline ticket upgrades and access to airport lounges worldwide
  • Withdrawal of annual maximums for each travel expense category
  • Maximum annual refund of $150