Head-to-Head: HSBC World Elite Mastercard vs. National Bank World Elite Mastercard

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In this variation of Head-to-Head, we’ll comparison 2 of the champion Mastercards successful Canada: the HSBC World Elite Mastercard and the National Bank World Elite Mastercard.

Mastercard is possibly the astir wide accepted paper successful the world, and each of these 2 cards presents a beardown statement for being the apical Mastercard successful Canada and for deserving an ongoing spot successful your wallet.

Let’s pit these cards against each different utilizing a scope of criteria to find retired which emerges arsenic the astir elite of the World Elite Mastercards.

Card Basics

Let’s statesman with the properties that thin to substance astir erstwhile comparing recognition cards: invited bonuses, yearly fees, and earning rates.

1. Welcome Bonus

We’ll statesman our Head-to-Head by looking astatine the astir outwardly charismatic portion of a recognition card: the invited bonus.

Starting with the National Bank World Elite Mastercard, the existent invited bonus is for 70,000 À la carte Rewards. This all-time-high invited bonus is breached down into 3 steps:

30,000 À la carte Rewards upon spending $5,000 successful the archetypal 3 months
10,000 À la carte Rewards upon signing up for recognition paper outgo insurance
30,000 À la carte Rewards upon spending $12,000 successful the archetypal 12 months

You’ll person the 2nd batch of 30,000 À la carte Rewards aft renewing the paper for a 2nd year, but since they’re worthy up to $300, it could precise good beryllium worthy the yearly fee, arsenic we’ll research aboriginal successful this article.

À la carte Rewards are National Bank’s proprietary loyalty points. We’ll look astatine however champion to redeem them aboriginal on, but for now, let’s conscionable enactment that the full worth of the invited bonus is worthy up to $700 if you gain the afloat bonus.

Now, turning our attraction towards the HSBC World Elite Mastercard, determination are 2 antithetic invited bonuses to consider: 1 for Quebec residents, and 1 for non-Quebec residents.

Generally speaking, the Quebec invited bonus is usually higher and comes without a minimum spending requirement; however, it comes with an yearly fee. On the different hand, the non-Quebec invited bonus tends to beryllium lower, but the first-year yearly interest is typically waived.

At the moment, if you’re a Quebec resident, you tin perchance gain up to 110,000 HSBC Rewards points arsenic a invited bonus, which is breached down arsenic follows:

20,000 HSBC Rewards points upon completing your archetypal purchase
90,000 HSBC Rewards points upon keeping your relationship unfastened and successful bully lasting for six months

If you’re a nonmigratory elsewhere successful Canada, you’ll gain a full of 80,000 HSBC Rewards points, breached down arsenic follows:

20,000 HSBC Rewards points upon completing your archetypal purchase
10,000 HSBC Rewards points upon spending $1,000 successful each of the archetypal six months

HSBC Rewards points tin beryllium redeemed for 0.5 cents per constituent (cpp) (200 points for $1) arsenic a connection recognition towards immoderate question purchase. This means that the invited bonus is perchance worthy $550 for Quebec residents, and $400 for non-Quebec residents.

However, it’s important to enactment that HSBC Rewards tin besides beryllium converted to 3 antithetic hose loyalty programs: British Airways Avios, Singapore Airlines KrisFlyer, and Cathay Pacific Asia Miles.

With the added flexibility for redemptions, we worth HSBC Rewards astatine 0.8 cents per point. If you look astatine the invited bonus this way, past you tin see that it’s worthy up to $640, which is conscionable shy of the $700 worth from the National Bank World Elite Mastercard.

Verdict: Despite the information that you’ll person 70,000 À la carte Rewards with the National Bank World Elite Mastercard arsenic opposed to 80,000–110,000 HSBC Rewards with the HSBC World Elite Mastercard, the National Bank points are worthy much connected insubstantial ($700 vs. $400–640, depending connected however you look astatine it).

This leads to the National Bank World Elite Mastercard emerging arsenic the victor successful the archetypal round.

2. Annual Fee

Another important origin to see erstwhile applying for a recognition card, and besides erstwhile deciding to support it for the long-term, is the yearly fee.

The National Bank World Elite Mastercard presently comes with a First Year Free offer, and past has an yearly interest of $150 successful consequent years.

The HSBC World Elite Mastercard has a akin yearly interest of $149. For Canadian residents extracurricular of Quebec, the interest is waived for the archetypal year, whereas Quebec residents are liable to wage the yearly interest successful their archetypal twelvemonth arsenic cardholders.

Verdict: While the HSBC World Elite Mastercard comes retired ever-so-slightly ahead, it’s truthful adjacent that it feels much due to telephone this 1 a tie.

However, for Quebec residents, the National Bank World Elite Mastercard is the wide winner, arsenic it’s the lone enactment betwixt the 2 with a First Year Free offer.

3. Earning Rates

The HSBC World Elite Mastercard presently has a three-tiered earning structure, which is arsenic follows:

6 HSBC Rewards points per dollar spent connected eligible question expenses
4 HSBC Rewards points per dollar spent on gas, groceries, and cause stores
2 HSBC Rewards points per dollar spent connected each different purchases

Since 200 HSBC Rewards points tin beryllium redeemed towards $1 successful question purchases, you’ll efficaciously get a minimum 3% instrumentality connected question purchases, a 2% return connected gas, groceries, and cause stores, and a 1% instrumentality connected each different purchases made with the HSBC World Elite Mastercard.

Meanwhile, the National Bank World Elite Mastercard besides has a three-tiered earning structure:

5 À la carte Rewards per dollar spent connected market and edifice expenses (up to $2,500 per month)
2 À la carte Rewards per dollar spent connected gas, electrical conveyance charging, recurring measure payments, and question booked done the National Bank online portal, arsenic good arsenic groceries and edifice expenses (after $2,500 per month)
1 À la carte Rewards per dollar spent connected everything else

If you redeem National Bank À la carte Rewards points astatine the highest worth of 1cpp by booking done National Bank’s online question portal, you’re looking astatine a instrumentality of 5% for spending connected groceries and restaurants up to $2,500 per month, and 2% thereafter.

Aside from that, you’ll get a 2% instrumentality connected gas, electrical conveyance charging, recurring measure payments, and question booked done the National Bank online question portal. The basal gain complaint for each different purchases is 1%.

Verdict: The National Bank World Elite Mastercard has the highest gain complaint among immoderate Mastercard successful Canada, with a superior 5% connected up to $2,500 spent connected groceries and restaurants. However, the HSBC World Elite Mastercard is the amended of the 2 for question expenses, with a 3% gain complaint versus National Bank’s 2% gain complaint for question booked done National Bank’s online question portal, and 1% for each different travel.

Ultimately, the victor present volition highly beryllium connected your ain spending habits.

However, fixed that the National Bank World Elite Mastercard’s complaint of instrumentality is importantly higher than HSBC World Elite Mastercard’s instrumentality for groceries and restaurants, arsenic good arsenic a 2% instrumentality connected a assortment of different categories, we tin proclaim the National Bank World Elite Mastercard arsenic the victor successful this category.

Perks and Benefits

Now that we’ve covered the paper basics, let’s displacement our attraction towards the perks and benefits that travel with these 2 cards, successful bid to find which Mastercard comes retired connected top.

1. Travel Credit

Both the National Bank World Elite Mastercard and the HSBC World Elite Mastercard connection annual question credits.

The National Bank World Elite Mastercard comes with an yearly $150 question credit that resets connected January 1 each year. This recognition tin beryllium utilized for a fistful of circumstantial question expenses, including:

Airport parking fees
Baggage fees
Seat enactment fees
Access to airdrome lounges
Ticket upgrades

On the different hand, the HSBC World Elite Mastercard comes with a little $100 Travel Enhancement Credit. The recognition is simply a batch much flexible, arsenic it tin beryllium utilized against immoderate question expense.

Verdict: If you tin marque usage of the National Bank World Elite Mastercard’s question credit, past you’ll beryllium getting an other $50 of value. However, fixed however flexible the HSBC World Elite Mastercard’s question recognition is, we’ll broadside with HSBC for this class of comparison.

2. Redeeming Points

Both the National Bank World Elite Mastercard and the HSBC World Elite Mastercard person flexible redemption options, and let you to redeem points against immoderate question expenses.

As we’ve already mentioned, redeeming National Bank World Elite Mastercard À la carte Rewards for question done National Bank’s online question portal volition springiness you a worth of 1cpp.

However, if you take to redeem À la carte Rewards to offset question expenses purchased elsewhere, the points go little valuable.

On the different hand, you tin redeem HSBC Rewards points against immoderate question acquisition made connected your HSBC World Elite Mastercard astatine afloat value.

Verdict: As the National Bank World Elite Mastercard requires the usage their ain question portal to get the astir bang for your National Bank À la carte Rewards, we’ll springiness a flimsy borderline to HSBC present arsenic you tin flexibly redeem for maximum value.

3. Transfer Partners

HSBC Rewards tin beryllium transferred to predominant flyer programme partners astatine the pursuing rates:

25,000 HSBC Rewards points tin beryllium converted into 8,000 Cathay Pacific Asia Miles.
25,000 HSBC Rewards points tin beryllium converted into 9,000 Singapore Airlines KrisFlyer miles.
25,000 HSBC Rewards points tin beryllium converted into 10,000 British Airways Avios.

The quality to transportation HSBC Rewards points into Singapore Airlines KrisFlyer miles is possibly the astir appealing mode to redeem points successful this manner. HSBC Rewards is the sole Canadian transportation spouse with KrisFlyer, which provides entree to 1 of the astir sought-after hose experiences successful the world: Singapore Airlines Suites Class.

HSBC Rewards gives Canadians the astir nonstop and champion mode to gain Singapore Airlines KrisFlyer miles connected their mundane spending.

Meanwhile, National Bank’s À la carte Rewards cannot beryllium transferred to immoderate hose oregon edifice partners.

Verdict: The HSBC World Elite Mastercard is the wide victor successful this category, since À la carte Rewards cannot beryllium transferred to immoderate hose oregon edifice partners.

Redeeming HSBC Rewards points for First Class and concern people tickets allows you to compression much worth retired of your points than the baseline 0.5cpp would let for connection credits. Furthermore, a premium compartment redemption would astir decidedly beryllium higher than the 1cpp fixed worth of National Bank’s À la carte Rewards.

4. Foreign Transaction Fees

Similar to its deficiency of transportation partners, the National Bank World Elite Mastercard besides lags down the HSBC World Elite Mastercard erstwhile it comes to overseas transaction fees.

You’ll beryllium charged an other 2.5% each clip you usage your National Bank World Elite Mastercard connected a acquisition that isn’t successful Canadian dollars, but you won’t beryllium charged thing if you usage an HSBC World Elite Mastercard.

One of the main draws of the HSBC World Elite Mastercard is that it comes with no overseas transaction fees, making it a overmuch amended paper to person with you erstwhile you question extracurricular of Canada.

Of course, however overmuch this really matters depends connected however overmuch you walk connected overseas transactions.

With the National Bank World Elite Mastercard, you’ll extremity up paying an further $25 for each $1,000 connected non-Canadian dollar purchases, whereas with the HSBC World Elite Mastercard, you’ll wage $0.

Verdict: The HSBC World Elite Mastercard is the evident winner, with nary overseas transaction fees arsenic a cardinal ongoing payment of having the card.

5. Insurance Coverage

Insurance sum tin often beryllium an afterthought erstwhile considering which recognition paper to use for. However, having the close security tin so beryllium a invaluable benefit, should you ever request to usage it.

Both the National Bank and HSBC World Elite Mastercards supply beardown security coverage, truthful let’s look astatine which 1 ekes retired arsenic superior.

Starting with out-of-province exigency aesculapian and infirmary insurance, the National Bank World Elite Mastercard provides up to $5 cardinal per person for durations that disagree depending connected your age:

60 days for cardholders aged 54 and younger
30 days for cardholders aged 54–64
15 days for cardholders aged 65–75

For the HSBC World Elite Mastercard, you’ll beryllium covered for importantly less, receiving $2 million successful exigency aesculapian sum for 31 days if you’re nether 65, and $2 cardinal for 21 days if you’re 65 oregon older.

Both National Bank and HSBC World Elite Mastercards supply comparable sum for the following:

Trip cancellation/interruption
Flight delays
Delayed and mislaid baggage
Travel accidents
Car rental insurance
Purchase extortion for theft and damage
Extended warranty
Medical, general, and ineligible assistance
Mobile instrumentality insurance

The main quality lies successful what’s required to get immoderate of the supra question related insurance. With the HSBC World Elite Mastercard, you’re required to complaint the afloat disbursal of your travel to your paper successful bid to beryllium eligible for the security benefits.

However, with the National Bank World Elite Mastercard, you’re lone required to usage your paper for a information of the disbursal to beryllium eligible for security coverage.

This quality tin person immense implications for travellers: you wouldn’t beryllium covered by security for immoderate question oregon flights booked with points if you usage an HSBC World Elite Mastercard to wage for the required taxes and fees, but you would beryllium covered if you usage your National Bank World Elite Mastercard to wage for those aforesaid taxes and fees.

Which Credit Cards Offer Insurance connected Award Travel?

Which Credit Cards Offer Insurance connected Award Travel?

Verdict: Despite some cards offering comparatively beardown security packages, the National Bank World Elite Mastercard comes retired up owed to its sum connected grant bookings, lengthy 60 time security duration for immoderate cardholders, and its higher limits for exigency aesculapian insurance.

The victor present mostly depends connected your age, and whether oregon not you thin to redeem points for bookings.

Depending connected however aged you are, the National Bank World Elite Mastercard is the wide winner, arsenic it provides security sum connected grant bookings, and gives immoderate cardholders an unprecedented 60 days of exigency aesculapian insurance.

If you’re implicit 64, past the HSBC World Elite Mastercard has the vantage for security coverage.

6. Airport Lounge Access

The National Bank World Elite Mastercard comes with unlimited lounge entree to the National Bank Lounge astatine Montreal Pierre Elliott Trudeau International Airport for you and 1 guest. Lounge entree is lone applicable if you’re travelling internationally (not including the United States), and entree to this lounge usually costs $56 (CAD) per person.

The HSBC World Elite Mastercard comes with a DragonPass membership, but unluckily each this means is that you’re capable to wage for entree to DragonPass lounges worldwide.

Verdict: While neither of these cards person peculiarly outstanding lounge entree inclusions, the National Bank World Elite Mastercard comes up arsenic being the lone 1 of the 2 to connection escaped lounge access, adjacent if it’s lone for a azygous lounge successful Montreal.

7. Wi-Fi

As a World Elite product, some the National Bank and HSBC World Elite Mastercards connection unlimited planetary entree to Boingo Wi-Fi hotspots. This includes 12 escaped 90-minute Wi-Fi sessions connected prime airlines, specified arsenic WestJet, Virgin Atlantic, and Etihad Airways.

Verdict: This class is simply a dormant tie, arsenic some cards connection the nonstop aforesaid benefit.

Other Factors

1. Supplementary Cards

The National Bank World Elite Mastercard has a $50 yearly interest for adding a supplementary cardholder to your account.

Meanwhile, the HSBC World Elite Mastercard doesn’t complaint immoderate fees for up to 4 supplementary cards added to your account.

Verdict: Due to the lack of fees for adding supplementary cardholders, the HSBC World Elite Mastercard is the victor here.

2. Ease of Getting Approved

In bid to suffice for some the National Bank World Elite Mastercard and the HSBC World Elite Mastercard, you indispensable person an idiosyncratic income of astatine slightest $80,000 oregon a household income of $150,000.

Verdict: We person ourselves different tie, since some cards person the identical income requirement.

3. Visual Appearance

Both World Elite Mastercards are reasonably akin successful appearance, though the HSBC paper has a vertical plan and the National Bank paper has a horizontal design. They some person a noticeable achromatic and grey superior presence, with a hint of reddish showing up successful their respective logos.

Verdict: Despite some cards having sleek designs, we’ll springiness the borderline to the HSBC World Elite Mastercard owed to the modern vertical plan and the splash of colours connected the HSBC logo.

Conclusion

Both the National Bank World Elite Mastercard and the HSBC World Elite Mastercard are large options if you’re looking to adhd a keeper Mastercard to your wallet.

When we comparison the paper basics, past the National Bank World Elite Mastercard is astir decidedly the amended paper of the two, arsenic it presently comes with a stronger invited bonus worthy up to $700 and a higher imaginable for earning, with a 5% earning complaint connected market and edifice purchases.

As for the perks and benefits, the HSBC World Elite Mastercard excels with a much flexible question credit, aggregate transportation partners, greater easiness of redeeming points astatine maximum value, and nary overseas transaction fees.

The HSBC World Elite Mastercard is arguably the amended all-around recognition card, owed to its assorted question perks that tin beryllium precise beneficial.

At the aforesaid time, the National Bank World Elite Mastercard could beryllium amended suited to you, should your spending oregon question patterns much intimately align with its features. If you thin to highly worth security coverage, past the lengthy duration of sum is overmuch longer than what’s presently offered connected the HSBC World Elite Mastercard, oregon immoderate different recognition paper successful Canada for that matter.

Determining Canada’s ultimate World Elite Mastercard truly comes down to the minutiae, and we anticipation that poring implicit the supra examination volition assistance you determine which paper is champion for you.

The station Head-to-Head: HSBC World Elite Mastercard vs. National Bank World Elite Mastercard appeared archetypal connected Prince of Travel by Ricky Zhang.

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