The Servus World Elite Mastercard is a rewards credit card that includes a strong insurance package, World Elite Mastercard benefits, and more – all for a reasonable annual fee.

In this analysis, we'll check out the pros and cons of the card before comparing it to a similar offering.

Pros of the Servus World Elite Mastercard

Though the most fruitful feature is its insurance coverage, it includes a few other nice perks.

1. Excellent insurance coverage

The Servus World Elite Mastercard offers 11 types of insurance coverage, which is on par with other premium credit cards. But this card stands out for including 3 rare types of coverage:

• Price protection insurance, which reimburses you if something you bought goes down in price
• 2 years of extended warranty coverage, which is double what most credit cards get
• 15 days of emergency medical coverage for those over the age of 65

2. Earns Servus Circle Rewards

The Servus World Elite Mastercard earns 2 points per $1 spent on all purchases. With each point worth up to 1 cent each, this can mean up to 2% in returns.

There's also a hefty welcome bonus of 25,000 points, which you’ll receive upon approval. This represents a cash value of $250.

Bonus: The points don’t expire so you can save them up for a large redemption in cash back, investments, travel, or merchandise.

3. Save on the annual fee with Servus profit sharing

Even though the Servus World Elite Mastercard has a high annual fee of $150, you will get 25% of it returned to you through the credit union's profit sharing program. This reduces it to $112.5, which is a bit less than some other credit cards in the same class.

Cons of the Servus World Elite Mastercard

There are 2 main drawbacks of having this card.

1. Not available outside of Alberta

You must be a resident of Alberta to apply for this card, which means that the majority of Canadians won’t have access to it.

2. Must apply in person

You will need to physically go into a Servus Credit Union branch to show them your ID and employment information or proof of enrollment (for students). In the digital age where pretty much every other bank has some sort of online application, this certainly feels like an inconvenience.

Comparison to a popular flexible rewards card

We'll compare the Servus World Elite Mastercard with the MBNA Rewards World Elite Mastercard, one of the best flexible rewards credit cards in Canada.

	Servus World Elite Mastercard	MBNA Rewards World Elite Mastercard
Welcome bonus	25,000 Servus Circle Rewards points	$150 GC Boost + 30,000 bonus points (terms)
Rewards	* 2 points per $1 spent on all purchases	* 5 points for every $1 spent on restaurants, groceries, and select recurring bills (up to $50,000 spent annually per category) * 1 point per $1 spent on all other purchases
Annual fee	$150	$120
Insurance coverage types	11	12
Other perks	* Profit sharing program knocks 25% off the annual fee * DragonPass membership (no free passes) * World Elite Mastercard benefits	* Annual birthday bonus worth up to 15,000 points

Though the MBNA Rewards World Elite Mastercard has more types of insurance, the coverage is generally better with the Servus World Elite Mastercard. You'll also get those 3 unique types of insurance that we mentioned earlier.

Where the MBNA Rewards World Elite Mastercard really shines is its rewards.

With each MBNA Rewards point worth 1 cent each, you're looking at a max return of 5% on all the boosted categories.

Add the birthday bonus every year (worth $150) and the MBNA option is, for the most part, a better card – even if the annual fee is a little more expensive after Servus's profit sharing discount.

Are you interested in the Servus World Elite Mastercard?

Aside from a strong insurance package, the Servus World Elite Mastercard also ticks boxes with decent rewards and a slightly below-average annual fee.

If this card is in your wallet, leave a review below to share your experience with others.

FAQ

Does the Servus World Elite Mastercard have an annual fee?

Yes, there is an annual fee of $150 per year – but you’ll receive 25% of the fee back by way of the Servus profit sharing program.

What are the eligibility requirements for the Servus World Elite Mastercard?

A rarity for World Elite Mastercards, there are no income requirements for the Servus World Elite Mastercard but you must be a resident of Alberta to qualify for this card.

How much can you earn in rewards with the Servus World Elite Mastercard?

The Servus World Elite Mastercard earns 2 points per $1 spent on all purchases and each point is worth 1 cent each. These flexible points can be redeemed for cash, investments, travel, or merchandise.