Assessment: Cathay World Elite® Mastercard® – powered by Neo

The Cathay World Elite® Mastercard® – powered by Neo is the one bank card in Canada that straight earns Cathay Pacific Asia Miles via its welcome provide and on on a regular basis spending. 

Asia Miles affords members entry to the perfect award availability for Cathay Pacific flights, in addition to helpful redemptions on oneworld-member airways.

Let’s check out the the reason why you may take into account the Cathay World Elite® Mastercard® – powered by Neo, in addition to the way it stacks up in comparison with different playing cards within the Canadian market.

What we love: robust welcome bonus, 15% low cost on Cathay Pacific flights, World Elite Mastercard advantages. What we’d change: enhance class incomes charges, embrace airline-specific advantages.

Welcome Bonus

One of the vital vital issues to contemplate when making use of for a bank card is the energy of the welcome provide. It’s additionally value contemplating how simple it’s to meet the minimal spending necessities, as it’s a must to work a lot tougher with some playing cards than others.

Since its launch in December 2023, the Cathay World Elite® Mastercard® – powered by Neo has a welcome affords of 27,000–60,000 Asia Miles.

Luckily, all affords have had comparatively low minimal spending necessities of $3,000–5,000 within the first three months, and the factors from the welcome bonus have at all times been awarded in full throughout the first yr. 

We worth Asia Miles at 1.6 cents per mile, and utilizing this valuation, we worth a welcome bonus of 27,000 Asia Miles at $432 and a welcome bonus of 60,000 Asia Miles (the cardboard’s all-time excessive) at $960.

Relying on the way you select to redeem these miles, the worth may find yourself being value roughly than these figures. Count on the next return for journey in premium cabins, and near par for redemptions in economic system.

Incomes Charges

With the Cathay World Elite® Mastercard® – powered by Neo , you earn Asia Miles on the following charges:

• 4 Asia Miles per greenback spent on eligible Cathay Pacific purchases
• 2 Asia Miles per greenback spent on all eligible international forex purchases
• 1 Asia Mile per greenback spent on all different eligible purchases

As soon as once more, utilizing our valuation of 1.6 cents per Asia Mile, you’re taking a look at an efficient return of 6.4% on Cathay Pacific purchases, 3.2% on eligible international forex purchases, and 1.6% on all different eligible purchases.

The return on Cathay Pacific purchases is great, and if you happen to’re a frequent flyer with the airline, you’ll be getting an important return in miles to your purchases.

The elevated Asia Miles you obtain on international forex purchases exterior Canada is offset by the two.5% international transaction payment it’s a must to pay on those self same bills. For out-of-country bills, you could possibly be higher off utilizing a bank card that doesn’t levy international transaction charges.

The baseline incomes charge of 1 Asia Mile per greenback spent and its efficient 1.6% return is nice, however there are additionally different playing cards to contemplate that provide the next baseline return.

Along with the above incomes charges, the Cathay World Elite® Mastercard® – powered by Neo has unique companions with which you earn considerably larger Asia Miles for each greenback spent.

When you store at one among Neo’s many companions, the Cathay World Elite® Mastercard® – powered by Neo instantly turns into extra helpful.

Sadly, the listing of companions isn’t made public till after you’ve utilized for the cardboard, and the companions listing is pretty restricted and comes with spending restrictions.

Redeeming Asia Miles

You may redeem your Asia Miles for award flights with Cathay Pacific and its accomplice airways, together with oneworld airways like British Airways, Qatar Airways, Japan Airways, and extra.

In the previous few years, Asia Miles has gone via a few devaluations, with some being extra important than others.

Nonetheless, there’s loads of worth to be present in this system, particularly if you happen to prioritize journey with Cathay Pacific. That’s since you’ll discover the perfect (and within the case of premium cabins, the one) award availability on Cathay Pacific flights with Asia Miles.

In Canada, Cathay Pacific affords continuous flights from Hong Kong to Vancouver and Toronto.

One-way redemptions between Hong Kong and Vancouver value out as follows, with a modest quantity of taxes and charges:

• Financial system: 27,000 Asia Miles
• Premium economic system: 50,000 Asia Miles
• Enterprise class: 88,000 Asia Miles

Whereas one-way redemptions between Hong Kong and Toronto value out as follows:

• Financial system: 38,000 Asia Miles
• Premium economic system: 75,000 Asia Miles
• Enterprise class: 115,000 Asia Miles

Exterior of those routes, listed below are some examples of what you are able to do when you’ve amassed a wholesome sum of Asia Miles:

• Fly Cathay Pacific First Class from Hong Kong to Beijing for 43,000 Asia Miles
• Fly Cathay Pacific First Class from Hong Kong to Tokyo for 50,000 Asia Miles
• Fly British Airways enterprise class from North America to London for 63,000 Asia Miles
• Fly American Airways enterprise class from the US to Australia for 89,000 Asia Miles
• Fly Cathay Pacific First Class from Hong Kong to London or Los Angeles for 125,000 Asia Miles 
• Fly Japan Airways First Class from Tokyo to New York for 135,000 Asia Miles

Insurance coverage Protection

With the Cathay World Elite® Mastercard® – powered by Neo, you obtain the next insurance coverage advantages:

• Emergency medical insurance coverage: as much as $1 million for journeys of as much as 14 days for these aged 60 and youthful
• Journey interruption insurance coverage: as much as $1,000 per individual, as much as $5,000 per journey
• Journey cancellation insurance coverage: as much as $1,000 per individual, as much as $5,000 per journey
• Flight delay insurance coverage: as much as $500 ($250 per day for affordable and vital bills for a missed connection, denied boarding, or flight departure delay).
• Misplaced/delayed baggage insurance coverage: as much as $1,000 for delays of six hours or longer
• Auto rental collision/injury insurance coverage: for as much as 48 consecutive days on autos with an MSRP of as much as $65,000
• Lodge/motel housebreaking insurance coverage: as much as $1,000 to cowl the injury to or the lack of private gadgets ensuing from the housebreaking at your lodge or motel room
• Buy safety: for up 90 days from date of buy
• Prolonged guarantee: doubling the producer’s guarantee, as much as one extra yr

For a journey bank card with a $180 annual payment, the journey and retail insurance coverage protection on the Cathay World Elite® Mastercard® – powered by Neo isn’t fairly as robust as we’d like.

For instance, ‌the emergency medical insurance coverage of as much as $1 million solely covers cardholders aged 60 and youthful for 14 days.

There are different bank cards with decrease annual charges that provide extra safety, longer protection, and embrace advantages for these as much as 65 years of age.

The Cathay World Elite® Mastercard® – powered by Neo additionally doesn’t present cellular gadget insurance coverage, which is often seen on comparable journey playing cards with an equal, or perhaps a decrease, annual payment.

Lastly, a number of co-branded airline bank cards will cowl you for flight-related insurance coverage protection on award bookings with the airline. The Cathay World Elite® Mastercard® – powered by Neo doesn’t.

Usually talking, if you pay for an award reserving with a co-branded bank card that earns the factors/miles you earn with the cardboard, the insurance coverage protection applies.

For instance, if you happen to pay for the taxes and charges on an Aeroplan reserving with an Aeroplan co-branded bank card, or a Flying Blue reserving with the Air France KLM World Elite Mastercard, you’re lined the identical as if you happen to’d booked the flight with money.

Sadly, this isn’t the case with the Cathay World Elite® Mastercard® – powered by Neo.

For insurance coverage protection on an Asia Miles award reserving, you’re higher off paying for the taxes and charges with a distinct bank card, such because the Nationwide Financial institution® World Elite® Mastercard®, since you’re then lined for insurance coverage in your journey.

In any other case, the journey insurance coverage advantages offered by the cardboard are pretty typical for a World Elite Mastercard.

Different Options

Essentially the most noteworthy distinctive profit on the Cathay World Elite® Mastercard® – powered by Neo is the provide of 15% off the bottom fare if you make a money reserving via the Cathay Pacific web site and use your Cathay World Elite® Mastercard® – powered by Neo with a promo code listed on the Cathay Pacific web site to make an eligible buy.

This profit is simply obtainable till December 31, 2025 (although it appears to get renewed yearly), and solely covers one-way or round-trip flights departing from Canada. The complete listing of phrases and situations will be discovered on the Cathay Pacific web site.

With the Cathay World Elite® Mastercard® – powered by Neo, you additionally obtain customary World Elite® Mastercard® perks, together with paid lounge entry via Mastercard Journey Move, powered by DragonPass.

In any other case, the Cathay World Elite® Mastercard® – powered by Neo lacks airline-specific advantages. Notably, there are not any distinctive advantages for Cathay Pacific flights supplied to cardholders apart from the low cost.

Whereas Neo advertises this card as coming “unique membership perks” resembling on-line precedence check-in, additional baggage redemption, and Cathay Pacific enterprise class lounge redemption entry, the fact is that these are merely advantages loved by all base-level Asia Miles members.

On the subject of additional baggage and Cathay Pacific enterprise lounge redemptions, this merely means that you’ve the choice to redeem Asia Miles for these perks, which once more is one thing that anybody with an Asia Miles membership can select to do.

Different Playing cards to Think about

The Cathay World Elite® Mastercard® – powered by Neo is value getting if you need a pleasant enhance to your Asia Miles stability, you can also make good use of the 15% low cost, and/otherwise you store on the Neo companions that earn elevated Asia Miles with this card.

Nevertheless, if you happen to’d prefer to discover a bank card that earns airline miles, there are different choices that offer you extra flexibility or that earn Asia Miles at a heightened charge.

For instance, the RBC® Avion Visa Infinite† earns RBC Avion factors, which you’ll be able to switch to The British Airways Membership and Cathay Pacific Asia Miles at a 1:1 ratio, in addition to American Airways AAdvantage at a 1:0.7 ratio.

This provides you extra flexibility for award bookings with oneworld airways, since totally different loyalty applications have totally different candy spots. Typically, you’ll be able to e-book the identical flight with a number of applications, however the pricing may be extra beneficial with one over the opposite.

The one draw back to the RBC® Avion Visa Infinite† is that it has slightly low incomes charges. Nevertheless, if you happen to even have an RBC® ION+ Visa – constructing what we prefer to consult with as The Optimized RBC Credit score Card Portfolio – you’ll be able to earn 3x Avion factors on many frequent day by day bills:

• Earn 3 Avion factors† per greenback spent on qualifying grocery, eating, meals supply, gasoline, rideshare, day by day public transit, electrical car charging, streaming, digital gaming and digital subscriptions

In different phrases, with The Optimized RBC Credit score Card Portfolio, you’ll be able to earn 3x Avion factors on the above classes, which is basically like incomes 3x Asia Miles (since Avion factors switch 1:1 to Asia Miles.)

In the meantime, in case your major purpose is to build up Asia Miles, you could possibly take into account the American Categorical Cobalt Card which earns American Categorical Membership Rewards (MR) factors that may simply be transformed to Asia Miles at a 1:0.75 ratio. In different phrases, every MR level will be exchanged for 0.75 Asia Miles.

With the American Categorical Cobalt Card, you earn MR factors on the following charges in your purchases:

• 5 MR factors per greenback spent on groceries and eating in Canada (as much as $2,500 per 30 days)
• 3 MR factors per greenback spent on eligible streaming companies
• 2 MR factors per greenback spent on gasoline, transit, and rideshare in Canada
• 1 MR level per greenback spent on all different purchases

There’s a number of flexibility with Membership Rewards factors, however if you happen to intend to transform all of your MR factors to Asia Miles on the charge of 1:0.75, the incomes charges on the Amex Cobalt are basically as follows:

• 3.75 Asia Miles per greenback spent on groceries and eating in Canada (as much as $2,500 per 30 days)
• 2.25 Asia Miles per greenback spent on eligible streaming companies
• 1.5 Asia Miles per greenback spent on gasoline, transit, and rideshare in Canada
• 0.75 Asia Miles per greenback spent on all different purchases

As you’ll be able to see, in most spending classes, you could possibly find yourself incomes nearly 4 occasions as many Asia Miles by utilizing your American Categorical Cobalt Card as a substitute of your Cathay World Elite® Mastercard® – powered by Neo.

Conclusion

The Cathay World Elite® Mastercard® – powered by Neo affords a stable welcome bonus and the distinctive good thing about 15% off Cathay Pacific flights.

Regardless of being the one co-branded Cathay Pacific Asia Miles bank card in Canada, the cardboard doesn’t provide any extra Cathay Pacific perks, and the class incomes charges are comparatively low.

If you can also make use of the advantages that do exist, or if you happen to’d like to spice up your Asia Miles stability, then the Cathay World Elite® Mastercard® – powered by Neo deserves consideration – particularly with an all-time excessive provide.

Nevertheless, there are different playing cards to contemplate if you happen to’d prefer to earn extra versatile factors for journey, or if you happen to’d prefer to have higher returns on day by day spending.