Thursday, February 26, 2015

Introducing the Capital One® Aspire Travel™ World Elite MasterCard®

As many of you are aware now, the Capital One® Aspire Travel™ World MasterCard® has been replaced by the new Capital One® Aspire Travel™ World Elite MasterCard®. The card has been out for a few weeks and this is our introduction of it to you, the readers of Rewards Canada.

There was a lot of concern surrounding the end of its predecessor and if or what it would be replaced by. The good news is the Capital One® Aspire Travel™ World Elite MasterCard® is not much different. On the good news side it gets World Elite MasterCard® benefits instead of World MasterCard® benefits which ultimately means stronger Concierge services. On the not so good news side the new card does not offer the 10,000 miles Anniversary Bonus we used to see on the old World version and the hefty sign up bonus of 35,000 miles is brought down to 10,000 miles on the World Elite version. Although the new version of the card remains very strong, the change in the sign up bonus and anniversary bonus are definitely weak points now as the sign up bonus is lower than many of this card's competitors and the anniversary bonus was one thing that made the previous card stand out above the competition.

I am glad they kept the 2 reward miles for every $1 spent on all purchases as this keeps the card on the higher end of the rate of return spectrum when compared to similar cards and it also retains an extremely strong insurance and benefits package.

The card has already been added to the following Rewards Canada Credit Card comparison charts so that you can see how it stacks up against the rest of the cards in Canada:
Here are the complete details of the Capital One® Aspire Travel™ World Elite MasterCard®:

• Earn more reward miles – on everything you buy!
• Earn 2 reward miles for every $1 – on all purchases
• Get 10,000 bonus reward miles with your first purchase – a value of up to $100

Please Note: A requirement of this card is a minimum personal income of $70,000 or household income of $120,000.

• Redeem for travel, cash, and gift cards
• World Elite MasterCard benefits, including Travel Emergency Medical Insurance and Trip Cancellation Insurance
• Add an authorized user for $0
• MasterCard PayPass

World Elite MasterCard Travel Benefits
• Travel Emergency Medical
• Trip Cancellation
• Trip Interruption
• Flight Delay
• Baggage Loss
• Baggage Delay
• Travel Accident Insurance
• Travel Assistance
• Car Rental Collision/Loss Damage Waiver

World Elite MasterCard Everyday Benefits
• Price Protection Service
• Extended Warranty
• Purchase Assurance
• World Elite MasterCard Concierge Services

MasterCard Benefits
• MasterCard Global Service™
• Zero Liability

Apply Now

“The interest rates, fees, rewards details, benefits and other details of the Capital One product(s) described in the article may have changed since the time of publication. Please consult the product information pages on the Capital One website for accurate product details. In the event of any conflict between the product details in this article and the Capital One website, the details on the Capital One website shall prevail.”

5 comments:

  1. Going World Elite definitely the right move but I agree, the 10,000 sign-up bonus way too stingy in today's competitive market. And removing the annual 10K loyalty bonus points is a bonehead move too since it's the only thing that has kept me with Capital One and from jumping ship to the MBNA World Elite. The MBNA is the only other card in Canada with a guaranteed 2% return on all purchases and without the misleading tiers that Capital One has that require you to wait to have 60,000 points or 600$ before you redeem to get the full 2%. Now that they are on a level bonus structure, there is no reason except travel medical and baggage that someone would choose the more restrictive Capital One over the MBNA. ps Capital One are also stingy on their limits, I only got 12,500$ from Cap One with no increase possible after 3 years of paying in full and early. I got 20K with MBNA. The only thing that may keep me with Capital One is Apple Pay which rumor has it is coming in May!

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  2. The MBNA World Elite is a great card on the earn side but very weak on the insurance side when compared to the new Cap One card or most of its competitors. If you strictly look or need earn and burn then yes the MBNA card is good.

    BMO Rewards World Elite is also a true 2% return on all purchases.

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  3. Yes but the problem with the BMO World Elite is you must use their on-line or phone in Travel agency, therefore not at the lowest possible price. The only two cards that assure a 2% return on all spending are the Capital One World Elite (as long as you redeem for a travel purchase over 600$ within 90 days) and the MBNA which has no restrictions or time limits. I agree if you don't have travel medical and baggage insurance elsewhere, go with the Cap One.

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  4. That's true, the biggest drawback with BMO card is that you have to book via them (I keep nudging them to change that but of course they would lose out on travel commissions....)

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  5. I used to recommend this card to friends when it still had the hefty sign-on and anniversary bonus - I did my research then, and no other card came close to the package it offered. The only other compelling one then was the AMEX Gold Card, which is limited by its acceptability (and it appears most cards have been stripped down now, so we need to compare apple and apple). That being said, I'm still with them because I've been informed by Capital One that I get to keep every single benefit (including the anniversary bonus) that I had on the Aspire World Travel as existing holder of the card; otherwise, I would've started shopping around for a new card.

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