On this version of Head-to-Head, we’ll examine two of the perfect Credit cards in Canada: the HSBC World Elite Mastercard and the Nationwide Financial institution World Elite Mastercard.
Mastercard is probably probably the most extensively accepted card on the earth, 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 towards one another utilizing a spread 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 inclined 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 engaging 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 cost 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 price as much as $300, it may very nicely be well worth the annual payment, as we’ll discover later on this article.
À la carte Rewards are Nationwide Financial institution’s proprietary loyalty factors. We’ll take a look at how finest to redeem them in a while, however for now, let’s simply observe that the whole worth of the welcome bonus is price as much as $700 when you earn the total bonus.
Now, turning our consideration in direction of the HSBC World Elite Mastercard, there are two totally different welcome bonuses to contemplate: one for Quebec residents, and one for non-Quebec residents.
Typically talking, the Quebec welcome bonus is normally larger and comes and not using a minimal spending requirement; nonetheless, it comes with an annual payment. Alternatively, the non-Quebec welcome bonus tends to be decrease, however the first-year annual payment is often waived.
In the intervening time, when you’re a Quebec resident, you possibly can 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
- 90,000 HSBC Rewards factors upon holding your account open and in good standing for six months
If you happen to’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
- 10,000 HSBC Rewards factors upon spending $1,000 in every of the primary six months
HSBC Rewards factors will be redeemed for 0.5 cents per level (cpp) (200 factors for $1) as an announcement credit score in direction of any journey buy. Because of this the welcome bonus is probably price $550 for Quebec residents, and $400 for non-Quebec residents.
Nevertheless, it’s essential to notice that HSBC Rewards can be transformed to 3 totally different airline loyalty packages: British Airways Avios, Singapore Airways KrisFlyer, and Cathay Pacific Asia Miles.
With the added flexibility for redemptions, we worth HSBC Rewards at 0.8 cents per level. If you happen to take a look at the welcome bonus this manner, then you possibly can contemplate that it’s price as much as $640, which is simply shy of the $700 worth from the Nationwide Financial institution World Elite Mastercard.
Verdict: Although 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 price extra on paper ($700 vs. $400–640, relying on the way you take a look at it).
This results in the Nationwide Financial institution World Elite Mastercard rising because the victor within the first spherical.
2. Annual Payment
One other essential issue to contemplate when making use of for a bank card, and likewise 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 provide, 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 acceptable 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 provide.
3. Incomes Charges
The HSBC World Elite Mastercard at the moment has a three-tiered incomes construction, which is as follows:
- 6 HSBC Rewards factors per greenback spent on eligible journey bills
- 4 HSBC Rewards factors per greenback spent on gasoline, groceries, and drug shops
- 2 HSBC Rewards factors per greenback spent on all different purchases
Since 200 HSBC Rewards factors will be redeemed in direction of $1 in journey purchases, you’ll successfully get a minimal 3% return on journey purchases, a 2% return on gasoline, groceries, and drug shops, and a 1% return on all different purchases made with the HSBC World Elite Mastercard.
In the meantime, the Nationwide Financial institution World Elite Mastercard additionally 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 30 days)
- 2 À la carte Rewards per greenback spent on gasoline, electrical car charging, recurring invoice funds, and journey booked by the Nationwide Financial institution on-line portal, in addition to groceries and restaurant bills (after $2,500 per 30 days)
- 1 À la carte Rewards per greenback spent on every little thing else
If you happen to redeem Nationwide Financial institution À la carte Rewards factors on the highest worth of 1cpp by reserving by Nationwide Financial institution’s on-line journey portal, you’re a return of 5% for spending on groceries and eating places as much as $2,500 per 30 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 the Nationwide Financial institution on-line journey portal. The bottom earn fee for all different purchases is 1%.
Verdict: The Nationwide Financial institution World Elite Mastercard has the best earn fee 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 fee versus Nationwide Financial institution’s 2% earn fee for journey booked by 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 fee of return is considerably larger than HSBC World Elite Mastercard’s return for groceries and eating places, in addition to a 2% return on a wide range of different classes, we will 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 direction of the perks and advantages that include these two playing cards, to be able 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 provide 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
Alternatively, 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 towards any journey expense.
Verdict: If you may make use of the Nationwide Financial institution World Elite Mastercard’s journey credit score, then you definitely’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 let you redeem factors towards any journey bills.
As we’ve already talked about, redeeming Nationwide Financial institution World Elite Mastercard À la carte Rewards for journey by Nationwide Financial institution’s on-line journey portal offers you a price of 1cpp.
Nevertheless, when you select to redeem À la carte Rewards to offset journey bills bought elsewhere, the factors turn into much less invaluable.
Alternatively, you possibly can redeem HSBC Rewards factors towards 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 possibly can flexibly redeem for optimum worth.
3. Switch Companions
HSBC Rewards will be transferred to frequent flyer program companions on the following charges:
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 real Canadian switch accomplice with KrisFlyer, which offers entry to one of the crucial sought-after airline experiences on the earth: Singapore Airways Suites Class.
HSBC Rewards provides Canadians probably the most direct and finest 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 permit for assertion credit. Moreover, a premium cabin redemption would most positively be larger than the 1cpp mounted worth of Nationwide Financial institution’s À la carte Rewards.
4. Overseas Transaction Charges
Just 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 overseas transaction charges.
You’ll be charged an additional 2.5% each time you employ your Nationwide Financial institution World Elite Mastercard on a purchase order that isn’t in Canadian {dollars}, however you received’t be charged something when you use an HSBC World Elite Mastercard.
One of many most important attracts of the HSBC World Elite Mastercard is that it comes with no overseas transaction charges, making it a a lot better card to have with you while you journey outdoors of Canada.
In fact, how a lot this truly issues depends upon how a lot you spend on overseas 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 apparent winner, with no overseas 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 proper insurance coverage can certainly be a invaluable 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 take 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 individual 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 $2 million in emergency medical protection for 31 days when you’re underneath 65, and $2 million for 21 days when 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
- Automotive rental insurance coverage
- Buy safety for theft and harm
- Prolonged guarantee
- Medical, common, and authorized help
- Cell system insurance coverage
The principle 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 total expense of your journey to your card to be able 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 when you use an HSBC World Elite Mastercard to pay for the required taxes and costs, however you would be coated when you use your Nationwide Financial institution World Elite Mastercard to pay for those self same taxes and costs.
Verdict: Regardless of each playing cards providing comparatively robust insurance coverage packages, the Nationwide Financial institution World Elite Mastercard comes out forward as a result of its protection on award bookings, prolonged 60 day insurance coverage period for some cardholders, and its larger limits for emergency medical insurance coverage.
The winner right here largely depends upon your age, and whether or not or not you are inclined to redeem factors for bookings.
Relying on how outdated 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.
If you happen to’re over 64, then the HSBC World Elite Mastercard has the benefit for insurance coverage protection.
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 when you’re travelling internationally (not together with america), and entry to this lounge usually prices $56 (CAD) per individual.
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 provide limitless international entry to Boingo Wi-Fi hotspots. This contains 12 free 90-minute Wi-Fi classes on choose airways, similar to WestJet, Virgin Atlantic, and Etihad Airways.
Verdict: This class is a useless tie, as each playing cards provide the very same profit.
Different Components
1. Supplementary Playing cards
The Nationwide Financial institution World Elite Mastercard has a $50 annual payment for including a supplementary cardholder to your account.
In the meantime, the HSBC World Elite Mastercard doesn’t cost any charges for as much as 4 supplementary playing cards added to your account.
Verdict: As a result of absence of charges for including supplementary cardholders, the HSBC World Elite Mastercard is the winner right here.
2. Ease of Getting Authorised
With a view to qualify for each the Nationwide Financial institution World Elite Mastercard and the HSBC World Elite Mastercard, you will need to have a person revenue of at the very least $80,000 or a family revenue of $150,000.
Verdict: We have now ourselves one other tie, since each playing cards have the similar revenue requirement.
3. Visible Look
Each World Elite Credit cards are pretty comparable in look, though the HSBC card has a vertical design and the Nationwide Financial institution card has a horizontal design. 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 fashionable vertical design and the splash of colors on the HSBC emblem.
Conclusion
Each the Nationwide Financial institution World Elite Mastercard and the HSBC World Elite Mastercard are nice choices when 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 positively the higher card of the 2, because it at the moment comes with a stronger welcome bonus price as much as $700 and a better potential for incomes, with a 5% incomes fee 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, better ease of redeeming factors at most worth, and no overseas transaction charges.
The HSBC World Elite Mastercard is arguably the higher all-around bank card, as a result of its numerous journey perks that may be very useful.
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 carefully align with its options. If you happen to are inclined to extremely worth insurance coverage protection, then the prolonged period of protection is for much longer than what’s at the moment provided on the HSBC World Elite Mastercard, or another bank card in Canada for that matter.
Figuring out Canada’s supreme World Elite Mastercard actually comes all the way down to the trivia, and we hope that poring over the above comparability will aid you resolve which card is finest for you.
