On this version of Head-to-Head, let’s examine two of the most effective Credit cards in Canada: the HSBC World Elite Mastercard and the Nationwide Financial institution World Elite Mastercard.

Mastercard is probably probably the most broadly accepted card on the planet, and every of those two playing cards presents a robust argument for being the highest Mastercard in Canada and for deserving an ongoing place in your pockets.

Let’s pit these playing cards in opposition to one another utilizing a variety of standards to search out out which emerges as probably the most elite of the World Elite Credit cards.

Card Fundamentals

Let’s start with the properties that are likely to matter most when evaluating bank cards: welcome bonuses, annual charges, and incomes charges.

1. Welcome Bonus

We’ll start our Head-to-Head by wanting on the most outwardly enticing a part of a bank card: the welcome bonus.

Beginning with the Nationwide Financial institution World Elite Mastercard, the present welcome bonus is for 70,000 À la carte Rewards. This all-time-high welcome bonus is damaged down into three steps:

• 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 bank card fee insurance coverage
• 30,000 À la carte Rewards upon spending $12,000 within the first 12 months

You’ll obtain the second batch of 30,000 À la carte Rewards after renewing the cardboard for a second 12 months, however since they’re value as much as $300, it might very nicely be definitely worth the payment, as we’ll discover later on this article.

À la carte Rewards are Nationwide Financial institution’s proprietary loyalty factors. We’ll have a look at how greatest to redeem them afterward on this article, however for now, let’s simply notice that the full worth of the welcome bonus is value as much as $700 should you earn the complete bonus.

Now, turning our consideration in the direction of the HSBC World Elite Mastercard, there are two completely different welcome bonuses to think about: one for Quebec residents, and one for non-Quebec residents.

Typically talking, the Quebec welcome bonus is normally greater and comes with out a minimal spending requirement; nonetheless, it comes with an annual payment. However, the non-Quebec welcome bonus tends to be decrease, however the first-year annual payment is usually waived.

In the meanwhile, should you’re a Quebec resident, you’ll be able to probably earn as much as 110,000 HSBC Rewards factors as a welcome bonus, which is damaged down as follows:

• 20,000 HSBC Rewards factors upon finishing your first buy
• 70,000 HSBC Rewards factors upon conserving your account open and in good standing for six months
• 20,000 HSBC Rewards factors as an anniversary bonus upon renewing your card for a second 12 months

For those who’re a resident elsewhere in Canada, you’ll earn a complete of 80,000 HSBC Rewards factors, damaged down as follows:

• 20,000 HSBC Rewards factors upon finishing your first buy
• 40,000 HSBC Rewards factors upon spending $6,000 within the first six months
• 20,000 HSBC Rewards factors as an anniversary bonus upon renewing your card for a second 12 months

HSBC Rewards factors will be redeemed for 0.5 cents per level (cpp) (200 factors for $1) as a press release credit score in the direction of any journey buy. Which means that the welcome bonus is probably value $550 for Quebec residents, and $400 for non-Quebec residents.

Verdict: Even supposing you’ll obtain 70,000 À la carte Rewards with the Nationwide Financial institution World Elite Mastercard versus 80,000–110,000 HSBC Rewards with the HSBC World Elite Mastercard, the Nationwide Financial institution factors are value an excellent deal extra ($700 vs. as much as $550).

This results in the Nationwide Financial institution World Elite Mastercard rising because the victor within the first spherical.

2. Annual Charge

One other essential issue to think about when making use of for a bank card, and in addition when deciding to maintain it for the long-term, is the annual payment.

The Nationwide Financial institution World Elite Mastercard at the moment comes with a First Yr Free supply, after which has an annual payment of $150 in subsequent years.

The HSBC World Elite Mastercard has an identical annual payment of $149. For Canadian residents outdoors of Quebec, the payment is waived for the primary 12 months, whereas Quebec residents are liable to pay the annual payment of their first 12 months as cardholders.

Verdict: Whereas the HSBC World Elite Mastercard comes out ever-so-slightly forward, it’s so shut that it feels extra applicable to name this one a tie.

Nevertheless, for Quebec residents, the Nationwide Financial institution World Elite Mastercard is the clear winner, because it’s the one possibility between the 2 with a First Yr Free supply.

3. Incomes Charges

The HSBC World Elite Mastercard at the moment has a two-tiered incomes construction, which can change to a three-tiered construction starting February 1, 2023. The present two-tiered construction is as follows:

• 6 HSBC Rewards factors per greenback spent on eligible journey bills
• 3 HSBC Rewards factors per greenback spent on all different purchases

Since 200 HSBC Rewards factors will be redeemed in the direction of $1 in journey purchases, you’ll successfully get a 3% return on journey purchases and a 1.5% return on all different purchases made with the HSBC World Elite Mastercard.

After February 1, 2023 the HSBC World Elite Mastercard’s incomes construction will probably be as follows:

• 6 HSBC Rewards factors per greenback spent on eligible journey bills
• 4 HSBC Rewards factors per greenback spent on groceries, gasoline, and drugstores
• 2 HSBC Rewards factors per greenback spent on all different purchases

As you’ll be able to see, the incomes charge for journey bills will keep the identical, when you’ll earn a barely greater 2% return on groceries, gasoline, and drugstore bills, and a barely decrease 1% return on all different purchases.

In the meantime, the Nationwide Financial institution World Elite Mastercard has a three-tiered incomes construction:

• 5 À la carte Rewards per greenback spent on grocery and restaurant bills (as much as $2,500 per thirty days)
• 2 À la carte Rewards per greenback spent on gasoline, electrical car charging, recurring invoice funds, and journey booked by way of the Nationwide Financial institution on-line portal, in addition to groceries and restaurant bills (after $2,500 per thirty days)
• 1 À la carte Rewards per greenback spent on every part else

For those who redeem Nationwide Financial institution À la carte Rewards factors on the highest worth of 1cpp by reserving by way of Nationwide Financial institution’s on-line journey portal, you’re taking a look at a return of 5% for spending on groceries and eating places as much as $2,500 per thirty days, and 2% thereafter.

Apart from that, you’ll get a 2% return on gasoline, electrical car charging, recurring invoice funds, and journey booked by way of the Nationwide Financial institution on-line journey portal. The bottom earn charge for all different purchases is 1%.

Verdict: The Nationwide Financial institution World Elite Mastercard has the best earn charge amongst any Mastercard in Canada, with a superior 5% on as much as $2,500 spent on groceries and eating places. Nevertheless, the HSBC World Elite Mastercard is the higher of the 2 for journey bills, with a 3% earn charge versus Nationwide Financial institution’s 2% earn charge for journey booked by way of Nationwide Financial institution’s on-line journey portal, and 1% for all different journey.

Finally, the winner right here will extremely rely by yourself spending habits.

Nevertheless, provided that the Nationwide Financial institution World Elite Mastercard’s charge of return is considerably greater than HSBC World Elite Mastercard’s return for groceries and eating places, in addition to a 2% return on quite a lot of different classes, we are able to proclaim the Nationwide Financial institution World Elite Mastercard because the winner on this class.

Perks and Advantages

Now that we’ve coated the cardboard fundamentals, let’s shift our consideration in the direction of the perks and advantages that include these two playing cards, so as to decide which Mastercard comes out on high.

1. Journey Credit score

Each the Nationwide Financial institution World Elite Mastercard and the HSBC World Elite Mastercard supply annual journey credit.

The Nationwide Financial institution World Elite Mastercard comes with an annual $150 journey credit score that resets on January 1 annually. This credit score can be utilized for a handful of particular journey bills, together with:

• Airport parking charges
• Baggage charges
• Seat choice charges
• Entry to airport lounges
• Ticket upgrades

However, the HSBC World Elite Mastercard comes with a decrease $100 “Journey Enhancement Credit score”. The credit score is much more versatile, as it may be used in opposition to any journey expense.

Verdict: If you can also make use of the Nationwide Financial institution World Elite Mastercard’s journey credit score, you then’ll be getting an additional $50 of worth. Nevertheless, given how versatile the HSBC World Elite Mastercard’s journey credit score is, we’ll facet with HSBC for this class of comparability.

2. Redeeming Factors

Each the Nationwide Financial institution World Elite Mastercard and the HSBC World Elite Mastercard have versatile redemption choices, and can help you redeem factors in opposition to any journey bills.

As we’ve already talked about, redeeming Nationwide Financial institution World Elite Mastercard À la carte Rewards for journey by way of Nationwide Financial institution’s on-line journey portal offers you a price of 1cpp.

Nevertheless, should you select to redeem À la carte Rewards to offset journey bills bought elsewhere, the factors change into much less precious.

However, you’ll be able to redeem HSBC Rewards factors in opposition to any journey buy made in your HSBC World Elite Mastercard at full worth.

Verdict: Because the Nationwide Financial institution World Elite Mastercard requires the use their very own journey portal to get probably the most bang to your Nationwide Financial institution À la carte Rewards, we’ll give a slight edge to HSBC right here as you’ll be able to flexibly redeem for optimum worth.

3. Switch Companions

HSBC Rewards will be transferred to frequent flyer program companions on the following charges:

• 25,000 HSBC Rewards factors will be transformed into 8,000 Cathay Pacific Asia Miles.
• 25,000 HSBC Rewards factors will be transformed into 9,000 Singapore Airways KrisFlyer miles.
• 25,000 HSBC Rewards factors will be transformed into 10,000 British Airways Avios.

The power to switch HSBC Rewards factors into Singapore Airways KrisFlyer miles is probably probably the most interesting option to redeem factors on this method. HSBC Rewards is the only Canadian switch associate with KrisFlyer, which offers entry to some of the sought-after airline experiences on the planet: Singapore Airways Suites Class.

HSBC Rewards provides Canadians probably the most direct and greatest option to earn Singapore Airways KrisFlyer miles on their on a regular basis spending.

In the meantime, Nationwide Financial institution’s À la carte Rewards can’t be transferred to any airline or resort companions.

Verdict: The HSBC World Elite Mastercard is the clear winner on this class, since À la carte Rewards can’t be transferred to any airline or resort companions.

Redeeming HSBC Rewards factors for First Class and enterprise class tickets lets you squeeze extra worth out of your factors than the baseline 0.5cpp would enable for assertion credit. Moreover, a premium cabin redemption would most undoubtedly be greater than the 1cpp mounted worth of Nationwide Financial institution’s À la carte Rewards.

4. International Transaction Charges

Much like its lack of switch companions, the Nationwide Financial institution World Elite Mastercard additionally lags behind the HSBC World Elite Mastercard in the case of international transaction charges.

You’ll be charged an additional 2.5% each time you utilize your Nationwide Financial institution World Elite Mastercard on a purchase order that isn’t in Canadian {dollars}, however you gained’t be charged something should you use an HSBC World Elite Mastercard.

One of many fundamental attracts of the HSBC World Elite Mastercard is that it comes with no international transaction charges, making it a a lot better card to have with you once you journey outdoors of Canada.

After all, how a lot this really issues is determined by how a lot you spend on international transactions.

With the Nationwide Financial institution World Elite Mastercard, you’ll find yourself paying an extra $25 for each $1,000 on non-Canadian greenback purchases, whereas with the HSBC World Elite Mastercard, you’ll pay $0.

Verdict: The HSBC World Elite Mastercard is the plain winner, with no international transaction charges as a key ongoing profit of getting the cardboard.

5. Insurance coverage Protection

Insurance coverage protection can typically be an afterthought when contemplating which bank card to use for. Nevertheless, having the fitting insurance coverage can certainly be a precious profit, must you ever want to make use of it.

Each the Nationwide Financial institution and HSBC World Elite Credit cards present robust insurance coverage protection, so let’s have a look at which one ekes out as superior.

Beginning with out-of-province emergency medical and hospital insurance coverage, the Nationwide Financial institution World Elite Mastercard offers as much as $5 million per particular person for durations that differ relying in your age:

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

For the HSBC World Elite Mastercard, you’ll be coated for considerably much less, receiving simply $1 million in emergency medical protection for 31 days should you’re underneath 65, and no protection in any respect should you’re 65 or older.

Beginning on February 1, 2023, nonetheless, the HSBC World Elite Mastercard will increase its emergency medical insurance coverage protection by offering as much as $2 million for 31 days should you’re aged 64 or youthful, and $2 million for 21 days should you’re 65 or older.

Each Nationwide Financial institution and HSBC World Elite Credit cards present comparable protection for the next:

• Journey cancellation/interruption
• Flight delays
• Delayed and misplaced baggage
• Journey accidents
• Automobile rental insurance coverage
• Buy safety for theft and harm
• Prolonged guarantee
• Medical, normal, and authorized help
• Cell system insurance coverage

The primary distinction lies in what’s required to get among the above journey associated insurance coverage. With the HSBC World Elite Mastercard, you’re required to cost the complete expense of your journey to your card so as to be eligible for the insurance coverage advantages.

Nevertheless, with the Nationwide Financial institution World Elite Mastercard, you’re solely required to make use of your card for a portion of the expense to be eligible for insurance coverage protection.

This distinction can have large implications for travellers: you wouldn’t be coated by insurance coverage for any journey or flights booked with factors should you use an HSBC World Elite Mastercard to pay for the required taxes and charges, however you would be coated should you use your Nationwide Financial institution World Elite Mastercard to pay for those self same taxes and charges.

Verdict: Regardless of each playing cards providing comparatively robust insurance coverage packages, the Nationwide Financial institution World Elite Mastercard comes out forward because of its protection on award bookings, prolonged 60 day insurance coverage length for some cardholders, and its greater limits for emergency medical insurance coverage.

As of February 1, 2023, the protection on the HSBC World Elite Mastercard turns into stronger for anybody over the age of 65, which could possibly be an essential consideration should you fall into this age class.

The winner right here largely is determined by your age, and whether or not or not you are likely to redeem factors for bookings.

Relying on how previous you might be, the Nationwide Financial institution World Elite Mastercard is the clear winner, because it offers insurance coverage protection on award bookings, and provides some cardholders an unprecedented 60 days of emergency medical insurance coverage.

For those who’re over 64, then the HSBC World Elite Mastercard could have the benefit for insurance coverage protection as of February 1, 2023.

6. Airport Lounge Entry

The Nationwide Financial institution World Elite Mastercard comes with limitless lounge entry to the Nationwide Financial institution Lounge at Montreal Pierre Elliott Trudeau Worldwide Airport for you and one visitor. Lounge entry is just relevant should you’re travelling internationally (not together with the US), and entry to this lounge usually prices $56 (CAD) per particular person.

The HSBC World Elite Mastercard comes with a DragonPass membership, however sadly all this implies is that you simply’re capable of pay for entry to DragonPass lounges worldwide.

Verdict: Whereas neither of those playing cards have significantly excellent lounge entry inclusions, the Nationwide Financial institution World Elite Mastercard comes forward as being the one one of many two to supply free lounge entry, even when it’s just for a single lounge in Montreal.

7. Wi-Fi

As a World Elite product, each the Nationwide Financial institution and HSBC World Elite Credit cards supply limitless international entry to Boingo Wi-Fi hotspots. This consists of entry to free Wi-Fi on choose airways, equivalent to WestJet, Virgin Atlantic, and Etihad Airways.

Verdict: This class is a useless tie, as each playing cards supply the very same profit.

Different Elements

1. Supplementary Playing cards

Each the Nationwide Financial institution and HSBC World Elite Credit cards at the moment have a $50 annual payment for including a supplementary cardholder to your account.

Nevertheless, efficient February 1, 2023, the HSBC World Elite Mastercard will now not cost any charges for as much as 4 supplementary playing cards added to your account.

Verdict: As a result of beneficial adjustments coming in February 2023, the HSBC World Elite Mastercard is the winner right here.

2. Ease of Getting Authorized

With a view to qualify for each the Nationwide Financial institution World Elite Mastercard and the HSBC World Elite Mastercard, you should have a person revenue of not less than $80,000 or a family revenue of $150,000.

Verdict: Now we have ourselves one other tie, since each playing cards have the equivalent revenue requirement.

3. Visible Look

Each World Elite Credit cards are pretty related in look. They each have a noticeable black and gray main presence, with a touch of purple exhibiting up of their respective logos.

Verdict: Regardless of each playing cards having glossy designs, we’ll give the sting to the HSBC World Elite Mastercard as a result of geometric lion sample.

Conclusion

Each the Nationwide Financial institution World Elite Mastercard and the HSBC World Elite Mastercard are nice choices should you’re wanting so as to add a keeper Mastercard to your pockets. 

After we examine the cardboard fundamentals, then the Nationwide Financial institution World Elite Mastercard is most undoubtedly the higher card of the 2, because it at the moment comes with a stronger welcome bonus value as much as $700 and a better potential for incomes, with a 5% earn charge on grocery and restaurant purchases.

As for the perks and advantages, the HSBC World Elite Mastercard excels with a extra versatile journey credit score, a number of switch companions, larger ease of redeeming factors at most worth, and no international transaction charges. 

The HSBC World Elite Mastercard is arguably the higher all-around bank card, because of its varied journey perks that may be very helpful. The upcoming beneficial adjustments to the cardboard will give it much more clout going ahead.

On the identical time, the Nationwide Financial institution World Elite Mastercard could possibly be higher suited to you, ought to your spending or journey patterns extra intently align with its options. For those who are likely to extremely worth insurance coverage protection, then the prolonged length of protection is for much longer than what’s at the moment provided on the HSBC World Elite Mastercard, or some other bank card in Canada for that matter.

Figuring out Canada’s supreme World Elite Mastercard actually comes right down to the trivia, and we hope that poring over the above comparability will make it easier to resolve which card is greatest for you.