Expired Hot Deals

CWB World Elite Mastercard - First year free; 2% cashback ($25K/yr cap)

  • Last Updated:
  • May 13th, 2021 3:58 pm
[OP]
Newbie
Nov 27, 2020
4 posts
10 upvotes

CWB World Elite Mastercard - First year free; 2% cashback ($25K/yr cap)

Deal Link:
Canadian Western Bank is offering two new cashback Mastercards, in partnership with Brim Financial.

CWB World Elite Mastercard
A lower annual fee than Brim, but sadly charges foreign transaction fees.
  • Earn 2 points for every $1 you spend on everyday transactions (2%), up to $25,000 per calendar year, then 1 point (1%)
  • Earn up to 30 points for every $1 you spend with CWB Rewards (Brim) partners
  • Common card carrier insurance of $150,000 insured and $500,000 accident
  • Up to $1,000 for loss, theft, or damage on your mobile device
  • Event ticket insurance
  • Purchase security insurance and extended warranty on purchases
  • Lounge Key access
  • Free Global Wi-Fi access to over 1 million Boingo Wi-Fi hotspots
  • Up to $5,000,000 out of province medical coverage
  • Travel assistance and trip cancellation insurance
  • Lost or stolen baggage insurance
  • Hotel / Motel burglary insurance
  • Car rental coverage for collision and loss damage, accidental death and dismemberment and personal affects
  • $120 annually (waived for your first year)
  • Additional cards: $50 each
  • 19.99% interest rate
  • 21.50% on cash advances
CWB Rewards Mastercard
  • Earn 1 point for every $1 (1%) you spend on everyday transactions
  • Earn up to 30 points for every $1 you spend with CWB Rewards (Brim) partners
  • Common card carrier insurance of $100,000 insured and $300,000 accident
  • Up to $500 for loss, theft, or damage on your mobile device
  • Event ticket insurance
  • Purchase security insurance and extended warranty on purchases
  • 19.99% interest rate
  • 21.50% on cash advances
  • No annual fee; free additional cards
14 replies
Deal Addict
User avatar
Jul 8, 2007
1546 posts
1484 upvotes
"Expects to spend $25,000 on the card annually"

yikes
Sr. Member
Aug 25, 2019
640 posts
646 upvotes
When I was filling out form didn't see anything about annual fee being waived first year
"It's your place in the world; it's your life. Go on and do all you can with it, and make it the life you want to live." — Mae Jemison
Newbie
Mar 5, 2004
85 posts
37 upvotes
How is this better then Rogers no annual fee world elite card? It gives 1.5% cash back with no annual fee. You’d have to spend > 24,000 to make up the difference, and if you do the cap on 2% cash back where it drops to 1% kills the deal.

Just checking in case I’m missing something.
Deal Expert
May 30, 2005
45646 posts
6111 upvotes
Richmond Hill
c3uo wrote: How is this better then Rogers no annual fee world elite card? It gives 1.5% cash back with no annual fee. You’d have to spend > 24,000 to make up the difference, and if you do the cap on 2% cash back where it drops to 1% kills the deal.

Just checking in case I’m missing something.
You're missing that you can cancel after your first year.
Deal Addict
Dec 21, 2006
1449 posts
240 upvotes
Ottawa
c3uo wrote: How is this better then Rogers no annual fee world elite card? It gives 1.5% cash back with no annual fee. You’d have to spend > 24,000 to make up the difference, and if you do the cap on 2% cash back where it drops to 1% kills the deal.

Just checking in case I’m missing something.
I though

Rogers world elite requires :
“ To maintain eligibility, you must have an annual spend of $15,000 each year.”
Deal Addict
User avatar
Apr 22, 2006
1273 posts
93 upvotes
Toronto
nicolascon wrote: "Expects to spend $25,000 on the card annually"

yikes
Yes I got this few years ago..They downgraded me to the basic card for not spending 25000k .I wont be using it anymore ..Not sure its better to cancel it or just keep it for my credit rating...
Deal Fanatic
Oct 13, 2002
6041 posts
442 upvotes
Calgary
just got this card to replace my nerfed cap one aspire world and so far it's a great replacement for people that want one card for the bulk of their purchases.
Sr. Member
User avatar
Aug 13, 2020
547 posts
1999 upvotes
Slapshot747 wrote: Yes I got this few years ago..They downgraded me to the basic card for not spending 25000k .I wont be using it anymore ..Not sure its better to cancel it or just keep it for my credit rating...
Keeping the card will help your credit score. I don't know about this card but many banks will allow you to move your "Limit" to another card. (Either No Fee or one with better perks)

Here's a few tips that might help some:

You should use all your cards 1X every 3 months to keep them current at the credit bureau, or else they won't help your credit score as much.
(My Bank manager once told me to hold a Negative Balance (Over pay by a few $) on my Credit Cards to keep them active and it seems to work)

You should call every 6 months to increase your limits, whether you need it or not. Banks can no longer increase you automatically, you have to call in.

If you are good with money (IE: You never pay Credit Card interest) then you should apply for a lot of credit cards. When you go for that Big Mortgage, having hundreds of thousands available credit will be useful.

If you are considering a bankruptcy, payment plan or other difficult situation. Think hard but MOVE FAST. What ever you choose will affect your Credit Rating for 7 years to the day. Some people try a payment plan for a couple of years and they ultimately go bankrupt. Bankruptcy is an option to get a fresh start and 7 years can go by very quickly

If you are building or rebuilding credit, start with a secured loan (IE: Borrow for a GIC)

Also you can ask a family member/friend to give you a secondary card on their account. This secondary card is useless for Your credit bureau but if you apply for instant credit at the Bay or Petro Canada (at the cash register) they will ask if you have an existing Credit Card (as a reference), you can use your friend's card and it will help get you accepted.
[OP]
Newbie
Nov 27, 2020
4 posts
10 upvotes
SCOPster wrote: When I was filling out form didn't see anything about annual fee being waived first year
It's listed under the Cost heading
Image
[OP]
Newbie
Nov 27, 2020
4 posts
10 upvotes
c3uo wrote: How is this better then Rogers no annual fee world elite card? It gives 1.5% cash back with no annual fee. You’d have to spend > 24,000 to make up the difference, and if you do the cap on 2% cash back where it drops to 1% kills the deal.

Just checking in case I’m missing something.
The bonus CWB Rewards rates for some retailers are pretty good if you are a frequent customer, but they aren't as good as Brim. These are on top of the 2% (World Elite)/1% (No Fee Mastercard) cash back. Partners include Apple.ca and Walmart.ca.
Last edited by jamesca on May 13th, 2021 6:33 pm, edited 1 time in total.
Member
Apr 29, 2006
395 posts
35 upvotes
Toronto
Is this any better than the Brim mastercard right now?
Deal Guru
User avatar
May 7, 2007
13826 posts
5638 upvotes
blu3xtc wrote: Is this any better than the Brim mastercard right now?
Brim is better ... but regular annual fee for Brim is 200 dollars vs 120 dollars here.

This card IS (or should be) powered by Brim by the way.

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