Canadians have an incredible range of options when it comes to their credit cards. Different cards compete with each other in terms of rewards and benefits to hopefully create a winning combination. The Mastercard World Elite Desjardins offers is called the Odyssey World Elite Mastercard, and it’s a top contender in both areas. It could be considered one of the best cards in the country.
Enjoy Incredible Rewards
Desjardins’ reward system uses a type of point called BONUSDOLLARS and awards them in percentages just like a cash back card. When you use the Odyssey World Elite card, you’ll get 1.5% in BONUSDOLLARS for your first $20,000 in spending for the year, then 2% after that. Considering that BONUSDOLLARS have a flat cash equivalency of $1 each, that is the same as having a 1.5-2% cash back rate on all purchases. It’s a respectable amount considering that it applies to absolutely every charge you make regardless of what it is, and the fact that the boost only applies to higher levels of spending indicates that this card is very well-suited to those with high incomes. The more you can spend, the more you stand to earn from this reward system.
BONUSDOLLARS’ cash equivalency status doesn’t end with their value, either; they are also almost as versatile as liquid cash too. You can exchange them for all kinds of prizes, including travel packages, gift cards, retail items and deposits into different financial accounts with Desjardins. You’ll need a Desjardins account to begin with if you want to use that last option, though. All the same, it’s great to have the freedom to do so much with your rewards and never lose out on value when you do. The power really is entirely in your hands.
A Benefits Bonanza
The Odyssey World Elite card’s benefits are extensive and very good, so they’re worth going over quickly. Like all Desjardins cards, it comes with some ever-handy mobile device insurance to keep your devices safe. It also bundles in some car rental collision and loss damage insurance. The rest of its perks are focused around travel, including trip cancellation insurance, baggage insurance, and common carrier accident insurance – plus 8 free passes to the Desjardins Odyssey Lounge and access to concierge service, travel assistance and identity theft assistance whenever you need these things. The star of this excellent collection, however, is the unparalleled 60 days of emergency travel medical insurance coverage. This benefit will ensure that you are covered for treatment for most illnesses and injuries when you are far away from the Canadian health care system, and its long length means that it should have no trouble covering almost all trips you would make for their full duration. This is a stellar bit of back-up to have available to you in case the worst happens, particularly when Canadians are largely forgetting to insure themselves privately when they leave the country.
That’s not all, though; you can get even more from this card if you happen to be a member of the Desjardins credit union as well. You don’t have to be to get the card, but if you do decide to join or are already part of this organization, you’ll enjoy two extra bonuses. The first is an extra 20% in BONUSDOLLARS that applies to all of your reward earnings, plus free additional cards if you wanted to give one to any friends or family members. These two perks have considerable value built into them, so if you’re interested at all, consider signing up with Desjardins soon.
A High Bar To Meet
The Odyssey World Elite card is a stellar option on all counts but one: its availability. Not only does it cost a whopping $130, but it also requires at least $80,000 in income on your own or $150,000 as a household. While it’s far from impossible to make that much, those incomes would still put you within the top earners in the country, making it unlikely that most people will reach them. On top of all of this, you must also meet one more requirement – you must live in either Ontario or Quebec, as Desjardins does not service other provinces at this time. All of this adds up to a very exclusive card that just won’t be within reach for most people, no matter how good it is.
Some Final Words on the Mastercard World Elite Desjardins
The Mastercard World Elite Desjardins card (the Odyssey World Elite) isn’t something most people can count on getting, but it’s great if you do. It may just be the best Canadian credit card in terms of benefits, and its rewards aren’t lacking either. If you can’t qualify for it yet, you may want to keep its name in the back of your mind for later in your life. Chances are good that when you do reach that level of prosperity, this card will be just as appealing as ever.