Brim World Elite Mastercard Review (Feb 2023)

December 21, 2022
Reviews
brim financial

The Brim World Elite Mastercard has an annual fee of $199 and offers the best benefits of all Brim credit cards. Some of the best features include high points earn rates on qualifying purchases and comprehensive insurance coverage; you can redeem your points for statement credits or use them as payment at eligible stores.

The Brim World Elite Mastercard doesn't charge foreign transaction fees, which makes it ideal if your travel abroad often or make online purchases, and the annual fee of $199 is completely waived for the first year. Another perk is that as a Brim Financial cardholder, you can schedule payments in installments, on all purchases $500 and above. 

What Is The Brim World Elite Mastercard?

The Brim World Elite Mastercard is the highest tier of credit card issued by Brim Financial, one of Canada's fastest-growing financial technology companies. The company was founded in 2015 in Toronto. Currently, it is the only non-bank or Canadian fintech licensed to provide credit cards. 

As a premium credit card, the Brim World Elite Mastercard lets you earn 3% to 30% points back from shopping at eligible online merchants. With an annual fee worth $199, you can get comprehensive insurance coverage and no foreign exchange fees from transactions outside Canada. Additionally, frequent travelers can take advantage of complimentary Boingo Wi-Fi access worldwide and access to airport lounges through Mastercard's Travel Pass by DragonPass.

Brim World Elite Mastercard Features

You can get various excellent benefits from signing up with the Brim World Elite Mastercard. As a premium credit card, the $199 annual fee is worth it and ideal for individuals who often travel and shop from stores outside Canada. Meanwhile, your spending allows you to earn points which you can use to redeem many reward options from Brim Financial.

#1 Comprehensive Insurance Coverage

The Brim World Elite Mastercard has an annual fee of $199 and includes comprehensive insurance coverage. It offers a comprehensive package that is valuable for purchases, travel, car rentals, travel accidents, and more. Frequent travelers can significantly benefit from these coverages since they are exposed to many circumstances. 

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The insurance coverages offered by the Brim World Elite Mastercard are shown in the table below.

Insurance Coverage
Common Carrier Accident Insurance$150,000/ $500,000 for insured (per accident)
Mobile Device Insurance$1,500
Event Ticket Protector Insurance$1,000
Purchase Security Insurance90 days/ $1,0000 per occurrence
Extended Warranty Protection1 year (maximum of $25,000 per year)
Out-of-Province Emergency Travel Medical Insurance15 days ($5,000,000 depending on the age)
Flight Delay Insurance$500 per day ($1,000 maximum)
Baggage Delay Insurance$500 for insured/ $1,000 max for all insured
Lost or Stolen Baggage Insurance$1,000 per insured/ $2,000 max for all insured
Hotel Burglary Insurance$2,500 per occurrence
Car rental Collision/Loss Damage Insurance48 days (MSRP of $85,000)
Trip Cancellation Insurance$2,000 for insured per trip/ max of $5,000 for all insured
Trip Interruption Insurance$2,000 insured per trip/ max of $25,000 for all insured

#2 Earn 2 Points For Every $1 Spent For The First $25,000 Annual Purchase

New cardholders of the Brim World Elite Mastercard can earn 2 points for every $1 spent on their purchases. Once you reach the annual capping of $25,000, your earning rate will reduce to 1 point per $1 spent, which is the base rate. Additionally, Brim Financial offers 1 cent for each of the points earned. 

Points accumulated can be used to pay for your purchases or redeemed as a statement credit. If you shop at eligible online merchants, you can earn from 3% to 30% of points from your purchases. It is relatively high compared to other credit cards. 

#3 Pay Your Purchase In Various Installment Plans Options

Purchases worth $500 or more can be paid through flexible installment plans with Brim World Elite Mastercard. Brim Financial offers this feature to all credit cards, including the Brim Mastercard and Brim World Mastercard. You can spread your payment to 12, 16, 20, and 24 months through the convenient setup of an installment plan only or the Brim Financial app. 

However, you must pay the One-Time Installment Fee in the first month, which is 7% of the purchase price. Meanwhile, a monthly processing fee worth $4.75 is also applied for every $1,000, equaling 0.475% of the purchase cost. 

#4 Additional Exclusive Access to World Elite Mastercard Benefits

Since Brim World Elite Mastercard is a Mastercard, you are entitled to exclusive benefits from its programs. These include the World Elite Mastercard concierge, Mastercard World Experiences, and Mastercard Priceless Cities. The programs highly benefit travelers providing them with opportunities for significant events and valuable deals from their trip. 

Moreover, all of the credit cards under World Elite Mastercard are considered premium because it is the highest tier among Mastercard credit cards. 

#5 Access To Mastercard Travel Pass And Complimentary Boingo Wi-Fi Worldwide

If you are a frequent traveler, you can access a $32 worth of Mastercard Travel Pass to various airports. There are over 1,000 airport lounges that you can access around the world. However, there are no free passes offered to cardholders. 

Social media is the leading means of communication nowadays, and with the complimentary Boingo Wi-fi access worldwide, you can freely update and reach out to family and friends. Hotspots are available for over a million locations worldwide. Internet access is typically hard to find if you travel from one country to another. 

#6 Extra Protection From Fraud with Zero Liability And Real-Time Notifications 

Brim Financial designed a mobile app to easily access your credit card account. One of the enticing features of the app is the instant lock, and real-time purchase notifications whenever your card is used. You can detect unauthorized purchases and lock your card instantly. 

The Brim World Elite Mastercard cardholders are also entitled to Zero Liability Protection. It prevents you from charging if your credit card is used for fraudulent activities. This is solid protection for cardholders with the instant lock and real-time purchase notifications. Additionally, it would be best to inform Brim Financial once you notice unusual activities in your account for immediate response. 

#7 0% Foreign Transaction Fees

Brim World Elite Mastercard brings valuable deals for new cardholders by giving a waived first-year annual fee. Brim Financial will not charge you for the first year of your membership. The fee will be applied after a year of acquiring the card. 

If you often have transactions outside Canada, this card helps you avoid charging transaction fees, typically 2.5% of the amount you pay. The fee required is relatively high for other individuals, especially if they always shop from foreign stores. With Brim World Elite Mastercard, you can significantly save, which you can use to pay for your monthly billings.  

Brim World Elite Mastercard Pros And Cons

Pros

  • 2% cashback earning rate on the first $25,000 annual purchase
  • No foreign transaction fees
  • Complimentary Boingo Wi-fi access to over a million locations worldwide
  • Comprehensive insurance coverage
  • High earning rate from shopping at eligible online merchants
  • Pay your purchases in flexible installment payment plans
  • Free membership to Mastercard Travel Pass by DragonPass
  • Solid security with instant card lock, real-time purchase notifications, and Zero liability protection

Cons

  • Annual fee of $199 is higher than other credit cards 
  • High-income requirements ($80,000 for personal or $150,000 for household)
  • High earn rate has an annual spending capping of $25,000

Brim World Elite Mastercard Pricing

Brim World Elite Mastercard is the highest tier and premium credit card among the three cards issued by Brim Financial. It offers an excellent earning rate and outstanding benefits compared to other credit cards in the market.

Other than its $199 annual fee, there are additional fees and interest you must consider when getting this card. Some of the essential fees involved with this card are shown in the table below.

Interest and FeesCost
Annual fee$199 (waived on the first year)
Additional Card Fees$50 each
Annual Purchase Rate19.99% – 24.99%
Cash Advance Rate (APR)21.50%
Foreign Transaction Transaction Fee0%
Balance Transfer Fee19.99% of the amount

Brim World Elite Mastercard annual fee is higher than other World Elite Mastercard. However, with comprehensive insurance coverage and a high earning rate in the first year, it may be beneficial to some individuals. Its no-charge foreign transaction fee feature is also valuable, especially if you often shop from stores and merchants outside Canada. 

In Summary

Brim World Elite Mastercard is one of Canada's superb premium credit cards. Frequent travelers and individuals who often have transactions outside the country can take advantage of its zero foreign transaction fees, Mastercard programs, and Boingo Wi-Fi access. 

Comprehensive insurance coverage is also offered, covering purchases, travel, travel accidents, event ticket reimbursement, car rentals, and more. Cardholders can also pay their purchase worth $500 and above into flexible installment plans. However, card applicants must have a high annual income for personal or household, ranging from $80,000 to $150,000.

Brim World Elite Mastercard FAQs

How much does the Brim World Elite Mastercard cost?

Brim World Elite Mastercard has an annual fee of $199. Each of its additional cards is worth $50 and has no foreign transaction fees. 

Is the Brim World Elite Mastercard worth it?

Yes, the Brim World Elite Mastercard is worth it. It offers comprehensive insurance coverage and exclusive access to Mastercard programs. Other than these, cardholders can earn 2 points for every $1 spent on the annual $25,000 first-year capping. 

Is the Brim World Elite Mastercard safe?

Yes, Brim World Elite Mastercard is safe to use. It is equipped with instant card lock features and real-time purchase notifications. Cardholders are also entitled to Zero Liability Protection against fraudulent credit card charges. 

Is the Brim World Elite Mastercard legit?

Yes, the Brim World Elite Mastercard is legit. It is used by many Canadians and is recognized as one of the best premium credit cards in the country. 

What is the highest tier Mastercard?

The highest tier of Mastercard is the World Elite Mastercard. The other two tiers are the Standard Mastercard and World Mastercard, with lesser features. 

How do I increase my credit limit at Brim?

To increase your credit limit with Brim, contact their customer support at 1-866-305-2746 or visit their official website at brimfinancial.com/contact-us for more information. 

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