Overall, we're happy with the Tangerine World Mastercard®. The minimum income requirements are pretty high, and we'd expect that a World Mastercard would offer more travel insurance, but still, the $0 annual fee combined with the high regular earn rate makes it a very valuable and appealing card.
World Mastercard is the middle tier for Mastercard perks. World Mastercard benefits are better than what you'd get from a regular Mastercard but not as good as World Elite Mastercard perks. All such benefits are provided directly by the Mastercard network rather than by the banks and credit unions that issue the cards.
World Elite is Mastercard's highest benefits level. ... The best World Elite Mastercard benefits include: purchase protection, price protection, extended warranties, travel accident insurance and multiple discount programs. Other good perks include a ShopRunner membership and exclusive PGA Tour golf experiences.
The new minimum personal income requirement for the World Elite MasterCard will go from $70K to $80K and the minimum household income requirement will move from $120K to $150K.
World Elite downsides
Depending on your financial situation, it may be hard for you to qualify. You'll need a personal income of at least $80,000 or $150,000 household, which makes these credit cards pretty inaccessible for many Canadians.
The highest level of Mastercard is World Elite, followed by World Mastercard and Standard Mastercard. Each Mastercard level has its own package of cardholder benefits.
Centurion® Card from American Express
Why it's one of the hardest credit cards to get: The hardest credit card to get is the American Express Centurion Card. Known simply as the “Black Card,” you need an invitation to get Amex Centurion.
While VISA has a slightly higher market share and greater amount of transactions worldwide, both VISA and MasterCard are equally well-accepted by merchants. Although MasterCard's upper tiers provide a better set of benefits, there are a lot more perks offered by the issuing banks themselves.
But Mastercard isn't accepted everywhere that you may find yourself spending money. ... That's because Mastercard is a card network, not a card issuer. In other words, it dictates where your card will be accepted and what secondary benefits – rental car insurance, for example – you may receive.
Several World Elite Mastercards are already among the best cards for dining, including the Citi Prestige® Card* (5X points per dollar), the Capital One® Savor® Cash Rewards Credit Card* (4% cash back) and the Chase Freedom FlexSM (3% cash back).
The World Elite Mastercard annual fee is $89-$99 in most cases. One of the best World Elite Mastercards is the Citi® / AAdvantage® Platinum Select® World Elite Mastercard®, which has a $0 annual fee the first year and an annual fee of $99 after that.
The best Canadian credit cards for 2021
The Mastercard® Black Card's requirements for approval include a good credit score, U.S. residency, and enough income to afford the card's $495 annual fee and monthly bill payments.
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