Capital One Aspire World MasterCard

Class World
Type MasterCard
Issuer Capital One
Annual Fee $120
Interest Rate 19.8%
Min. Income $70,000
Reward Type Travel Points
Reward 2 points / $1 spent
Reward Return 1.5-2%
Sign Up Bonus 35,000 points
Grace Period 25 days
Apply Sign Up!
 

In the recently stagnant Canadian credit card market, the Capital One Aspire World MasterCard is like a breath of fresh air and is garnering a lot of attention because it breaks the mould of typical travel rewards credit cards in several ways. First, it awards you two points per dollar spent, as opposed to the typical one. Second, it gives you a high sign up bonus of 35,000 points that is worth up to $350 in travel. Third, it has an annual renewal bonus of 10,000 points worth about $100 in travel that nearly pays for the cost of the annual fee before you do any spending on the card.

Unfortunately, when redeeming for travel there are reward tiers that need to be respected but as long as you redeem your points smartly they will always net you a 2% reward return value. Fortunately, if you don’t want to be bothered with tiers, you can also redeem your points for cash at a rate of 1.5%, which is almost as good as the travel redemption rate! That makes this card as good or better than many of the popular cash back cards currently available in the Canadian market! Other than the tiers problem, the Aspire World is actually a very flexible travel rewards card similar to the American Express Blue Sky Card in that your points can be applied to any travel purchase that is charged to the card using any imaginable method of booking. That means that you can take advantage of all the best sales, last minute discounts, and internet specials! That really stretches the overall value of the card up from 2% because you can redeem for the best quality travel at deeply discounted rates. If you save 50% off the regular price, then your reward return essentially doubles in value to 4%, just like that!

As a final icing on the cake, this card has an extremely comprehensive insurance package that includes some very rare coverage that you don’t often see, even on premium travel cards like the CIBC Aerogold Infinite Visa or the Starwood Preferred Guest Amex. That includes price protection, two years additional product warranty, emergency medical including those over 65 years of age, trip interruption with a very high maximum, and trip cancellation. With all these benefits, the only thing that should be holding most people back from applying for this card is the $70,000 minimum income requirement! If you meet that criteria, why don’t you apply now?!

Positives:

  • 35,000 mile sign up bonus, worth $350 when redeeming for travel.
  • 10,000 mile annual renewal bonus worth $100 redeeming for travel.
    • This bonus essentially covers the cost of the $120 annual fee!
  • Flexible redemption options for any travel, not just flights, booked using any possible method.
    • You can take advantage of the best sales and promotions!
  • No annual maximum on the amount of points that can be earned.
  • Can redeem for cash instead of travel yielding a reward return value of 1.5%.
    • This is superiour to most of the currently available dedicated cash back credit cards!
  • Exceptional insurance package better than most platinum cards:
    • Extended Warranty: coverage for two additional years, instead of the usual one.
    • Purchase Protection: coverage for 120 days, instead of the usual 90 days.
    • Price Protection: not typically offered by travel rewards cards at all.
    • Emergency Medical: applies even when trip expenses aren’t booked on the card!
    • Trip Interruption: extremely high $5,000 per person maximum.
    • Trip Cancellation.
  • Free supplementary cards.

Negatives:

  • Tiered system of redeeming points for travel, but it can be easily maximized to always get a 2% return.
  • Very high minimum income requirement of $70,000, even when compared to most premium credit cards.
    • If you don’t meet this requirement or you don’t like the $120 annual fee, you can also apply for the gold version of the card.
  • You cannot apply for this credit card if you already have two or more Capital One cards or have applied for one in the past 45 days.

Insurance Package:

  • Extended Warranty - up to 2 years.
  • Purchase Protection – 120 days.
  • Price Protection - $100 per item, $500 annual maximum.
  • Travel Accident - $500,000.
  • Emergency Medical – 22 days under 65 years of age, 8 days after 65 years of age.
  • Trip Cancellation - $1,000 per person, $5,000 maximum.
  • Trip Interruption - $5,000 per person, $25,000 maximum.
  • Flight Delay - $250 per day, $1,000 maximum.
  • Baggage Delay - $100 per person per day, 3 day maximum.
  • Lost Or Stolen Baggage - $1,000.
  • Car Rental Theft & Damage (CDW & LDW).

Minor Perks:

  • Call centre assistance for almost any unexpected problem while traveling:
    • Emergency cash (costs paid by you, not them).
    • Lost document and ticket replacement (costs paid by you).
    • Lost baggage assistance (costs paid by you).
    • Pre-trip planning information (entry requirements, vaccinations, etc).
    • Find legal advisor or post bail (costs paid by you).
  • Concierge services for help with travel, entertainment, business, and shopping.

Apply Now!

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