The best World Elite and World Mastercards with no annual fee include the Tangerine Money-Back World Mastercard and Rogers Red World Elite Mastercard, though there are a few other excellent options. Don't let the lack of fees fool you – these cards stand up well against even the best Mastercards in Canada.
World and World Elite cards come with valuable perks, such as concierge services and comprehensive insurance, which means their annual fees are usually relatively high. The no-fee options may have slightly fewer of these benefits, but their value is still high enough that the lack of a fee is surprising.
Below, we review and compare the best no-fee World and World Elite Mastercards, taking special interest in their excellent features.
Key Takeaways
- The best World Elite and World Mastercards with no annual fees include the Tangerine Money-Back World Mastercard and Rogers Red World Elite Mastercard.
- World Mastercards have lower income requirements than World Elite Mastercards, though they often share similar benefits.
- World Elite Mastercards have all of the benefits of World Mastercards with extras and better earn rates.
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Best World Elite and World Mastercards with no annual fee
While some World Elite Mastercards and World Mastercards have annual fees as high as $299, there are still several that have no annual fee whatsoever. And while you might think these wouldn't be especially rewarding credit cards, with few perks, they're actually pretty good.
This table lays out some of the best no-fee World Elite and World Mastercards, showcasing some of their best features:
| Credit Card | Welcome bonus | Rewards | Annual fee & income requirements | Learn more |
|---|---|---|---|---|
| Tangerine® Money-Back World Mastercard®* |  $125 GeniusCash + $120 (terms) | * 2% cash back on purchases in up to 3 Money-Back Categories * 0.5% cash back on all other purchases | * $0 * $50,000 personal income * $80,000 household income | Learn more |
| Walmart Rewards World Mastercard | 25 Walmart Dollars (terms) | * 3% back in Walmart Rewards at Walmart * 1% back in Walmart Rewards on all other purchases | * $0 * $0 personal income * $100,000 household income | Learn more |
| Rogers Red World Elite® Mastercard® | None | * Earn 2% unlimited cash back on all eligible non-U.S. dollar purchases if you have 1 qualifying service with Rogers, Fido, Comwave, or Shaw * Earn 1.5% unlimited cash back on eligible non-U.S. dollar purchases * Earn 3% unlimited cash back on all eligible purchases made in U.S. dollars | * $0 * $80,000 personal income * $150,000 household income | Learn more |
| Triangle World Elite Mastercard | None | * 4% CT Money at Canadian Tire stores * 3% CT Money on grocery store purchases * 1% CT Money on all other purchases * Collect 5 cents CT Money per liter on reg/mid grade fuel, or 7 cents on premium fuel at Gas+ and Husky stations | * $0 * $80,000 personal income * $150,000 household income | Learn more |
| PC® World Elite Mastercard® | 20,000 bonus points (terms) | * 45 points per $1 spent at Shoppers Drug Mart * 30 points per $1 spent at Esso and Mobil stations in Canada * 30 points per $1 spent at Loblaw banner grocery stores * 10 points per $1 spent on all other purchases | * $0 * $80,000 personal income * $150,000 household income | Learn more |
1. Best cash back no-fee World Mastercard: Tangerine® Money-Back World Mastercard®*
The Tangerine® Money-Back World Mastercard®* is a unique card with a unique earning structure, one that puts you in control of your rewards. Cardholders get to choose their own two cash back categories from a list of 10 options – and if they have their cash back deposited into a Tangerine Savings Account, they can choose a third cash back category.
Especially for a no-fee card, the insurance package for this Tangerine product is impressive as well. It comes with 4 types, including mobile device protection, which is quite rare. This card also features a valuable balance transfer offer: 1.95% interest for 6 months, with a reasonable 1% balance transfer fee.
2. Best no-fee World Mastercard for Walmart: Walmart Rewards World Mastercard
The Walmart Rewards World Mastercard is especially appealing for dedicated Walmart shoppers, earning 3% back in Walmart Rewards at Walmart, 1% back in Walmart Rewards on all other purchases. Walmart Rewards are easy to understand, with one point equal to $1 in spending at Walmart. Plus, this card offers a nice little welcome bonus of $25 in rewards to get you started.
While it doesn't offer much for insurance, the Walmart Rewards World Mastercard does provide extended warranty and purchase protection benefits. Considering the high-ticket items available at Walmart – electronic devices, workout equipment, small kitchen appliances, etc. – these features can be very convenient.
3. Best no-fee World Elite Mastercard for foreign purchases: Rogers Red World Elite® Mastercard®
With the Rogers Red World Elite® Mastercard®, users can earn as much as 3% cash back on purchases – though that rate is reserved for purchases made in U.S. dollars. Canadian purchases earn up to 1.5% back, or even more if you also have qualifying Rogers, Fido, Comwave, or Shaw products.
Cardholders who have Rogers mobile services also get 5 "Roam Like Home" days when travelling. There are 6 types of insurance too, including 10 days of emergency medical coverage (3 days for seniors) while you travel.
4. Best no-fee World Elite Mastercard for Canadian Tire: Triangle World Elite Mastercard
If you frequent Canadian Tire, Sport Chek, Party City, or any other partner store, the Triangle World Elite Mastercard is the World Elite Mastercard for you. You'll enjoy 4% CT Money at Canadian Tire stores, 3% on grocery store purchases, and 1% on all other purchases.
A few other surprising benefits include weekly personalized offers and getting 5 to 7 cents back when you fuel up at Gas+ locations. The most significant perk, though, is the accompanying roadside assistance – it's usually over $100 per year, but with this card in your wallet, you get it for free.
5. Best no-fee World Elite Mastercard for PC Optimum points: PC® World Elite Mastercard®
The PC® World Elite Mastercard® earns popular PC Optimum Points at very high rates:
- 45 points per $1 spent at Shoppers Drug Mart
- 30 points per $1 spent at Esso and Mobil stations in Canada
- 30 points per $1 spent at Loblaw banner grocery stores
- 10 points per $1 spent on all other purchases
When redeemed, those points are worth as much as 0.21 cents per point.
Identity Theft Assistance is also available with this PC card. This valuable service connects you with legal experts and psychologists to help with practical and emotional matters.
While the PC World Elite Mastercard offers World Elite perks for free, if you currently pay for a PC Express pass, it's worth checking out PC's other World Elite card. For $120 a year, the PC Insiders World Elite Mastercard earns even more PC Optimum points and comes with complimentary PC Express.
Tip: If you love Loblaws but don't qualify for World Elite, check out the PC World Mastercard, which also has no annual fee.
Comparing the best no-fee World and World Elite Mastercards
Let's take a look at how these different Mastercard tiers compare:
Income requirements
World Mastercards require less in terms of personal and household income, while World Elite Mastercards ask for considerably more.
This chart offers a visual representation of how the income requirements compare for our top World and World Elite Mastercards:
Although there are significant differences in eligibility, the benefits that come with these cards aren't necessarily all that different.
Some perks that would normally appear on a World Elite card are sometimes available on a World Mastercard. It's just a matter of researching the cards – you may find the perk you want for a lower income threshold.
Estimated perk value
As the highest possible tier, World Elite Mastercards have the most perks and benefits, as well as the most expensive and exclusive perks.
Of course, the World Elite Mastercards should have a higher perk value than the World Mastercards, given that World Elite status Mastercards are the highest tier Mastercards you can get, with the most benefits.
This chart uses information from 2020, so current dollar values may be different, but the size of the perks packages hasn't changed:
Average rate of return
Many people searching for the right card want to know which World or World Elite Mastercard provides the most bang for your buck.
Based on an average spend of $2,000 a month and $24,000 a year, multiplied by your return on spending, you can figure out the annual value of the rewards on each card.
Here's how the top five cards stack up:
The return rates for the PC and Triangle cards are significantly better than the others. Keep in mind, though, that earning those rates means shopping nearly exclusively at Loblaws or Canadian Tire-owned stores, depending on the card.
Difference between World and World Elite Mastercards
There are distinct differences between the World and World Elite Mastercard benefit tiers, the most obvious being the annual fees and income requirements. However, the higher annual fees and income requirements for World Elite Mastercards tend to be offset by the additional perks and benefits.
You won't find every perk above on all World Mastercards, but you will find them on all World Elite Mastercards.
There are also times when a benefit is available on both Mastercard tiers, but not quite in the same way. For example, Mastercard Travel Pass memberships are available with both card types, but only World Elite Mastercard cardholders have free access to these airport lounges – World cardholders must pay (each visit costs US$32).
The table below offers a closer look at what you'd typically get from a World Mastercard vs. a World Elite Mastercard, plus the fees and income requirements you'd typically see with each designation:
| Feature | Typical World Mastercard | Typical World Elite Mastercard |
|---|---|---|
| Annual fees | $0 to $115 | $0 to $299 |
| Income requirements | * $60,000 individual * $100,000 household | * $80,000 individual * $150,000 household |
| Travel Perks | * Mastercard Travel Rewards on some cards * Mastercard Travel Pass on some cards with paid access to all lounges * Priceless.com experiences on some cards * Mastercard Global Service * Car rental insurance on some cards | * Mastercard Travel Rewards on all cards * Mastercard Travel Pass on all cards with free access to some lounges * Priceless.com experiences on all cards * Mastercard Global Service * Car rental insurance on all cards |
| Other Perks | * Zero liability * Transaction alerts * Extended warranty * Purchase protection * Digital everyday offers | * Zero liability * Transaction alerts * Extended warranty * Purchase protection * Digital everyday offers |
The best World and World Elite Mastercard perks
The perks offered on both World and World Elite Mastercards are pretty extensive, and these are in addition to the benefits offered by your credit card issuer on your individual credit card.
Let's take a closer look at these benefits:
Mastercard Travel Rewards
This benefit allows some World and all World Elite Mastercard holders to earn cash rewards when they shop at participating merchants, either online or in person, while travelling outside of Canada.
All cardholders need to do is register their account, log in to the Mastercard Travel Rewards shopping portal, and the cash rewards you save are added to your statement.
Mastercard Travel Pass provided by DragonPass
While airport lounge access is available to both World and World Elite Mastercard holders, some World Elite holders get complimentary lounge visits each year.
On the other hand, there are no complimentary visits available for World Mastercard holders. They must pay for each lounge visit, and the fee varies by lounge.
Still, both World and World Elite cardholders have access to over 1,600 lounges in over 100 countries, with wifi, meeting rooms, and snack bars available, plus even more.
Priceless experiences
Priceless experiences are available on some World Mastercards and all World Elite Mastercards, and are available both online and in person in several cities around the world, including Montreal and Toronto.
For example, you can learn how to make a signature dish from some of the world's highest-profile executive chefs online or book an in-person tee time at Mastercard's private network of over 1,000 country clubs.
The whole program gives you early access to ticketed events, opportunities to learn from experts, and unique travel experiences.
Mastercard Global Service
Mastercard Global Service is available on both World and World Elite Mastercards, 24/7, to solve any card-related issues in any language. This can include:
- Lost and stolen card reporting
- Emergency cash advances
- Access to card benefits
- Help locating an ATM that accepts Mastercard
- Access to account information
Everyday digital offers
Available on both Mastercard tiers, these are ongoing exclusive offers texted or emailed to members. For instance, get discounts on streaming subscriptions or services.
Zero liability
Both World and World Elite Mastercards assure you won't be responsible for any unauthorized purchase made on your credit card.
Transaction alerts
With both World and World Elite cards, alerts will be sent to your phone so you know what's happening with your money at all times.
Extended warranty
On both World and World Elite Mastercards, you'll be able to extend the manufacturer's warranty by at least a year on purchases made on your credit card.
Purchase protection
This includes coverage for World and World Elite Mastercard purchases, in the first 90 days after you bought them, against theft, damage, or loss.
Car rental insurance
Car rental insurance is available on all World Elite Mastercards, but not all World Mastercards. It covers damage or theft of a rental car when you use your eligible World Mastercard to rent it.
What is and isn't covered, and how much coverage is provided, depends on each World or World Elite Mastercard that comes with this coverage.
FAQ
What's the best World Elite Mastercard with no annual fee?
The best World Elite Mastercard with no annual fee depends on your shopping habits. If you're a Loblaws loyalist, boost your PC Optimum earnings with the PC World Elite Mastercard. Rogers customers and U.S. shoppers should try the Rogers Red World Elite Mastercard, and CT money fans will enjoy the Triangle World Elite Mastercard.
Is it worth getting a World Elite Mastercard?
If you meet the steep income qualifications, it's definitely worth it to get a World Elite Mastercard, especially one that doesn't charge an annual fee. They offer incredible perks and benefits, including airport lounge access, extensive insurance packages, travel rewards, and much more.
Is there a World Mastercard with no annual fee?
Yes, there are several World Mastercards with no annual fees. Top options include the Tangerine Money-Back World Mastercard, Walmart Rewards World Mastercard, and PC World Mastercard. With these cards, you get World Mastercard benefits for free.
What's the difference between World and World Elite Mastercards?
There are several differences between World and World Elite Mastercards, starting with eligibility requirements – World Elite cards require higher income levels and typically have higher annual fees. World Elite cards also tend to have higher reward earn rates and more valuable benefits than World Mastercards.
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