Brim World Elite Mastercard review

How the Brim World Elite earns points

The card earns 1 point per dollar on all purchases. At select Brim partner merchants you can earn more, up to 30 points per dollar, through Milestone Bonuses. Partner offers vary, so treat them as extras rather than something to build your budget around.

As an example, if you put $2,000 a month on the card, you’d earn 2,000 points a month, or 24,000 points a year, at the base rate, plus whatever partner bonuses you pick up. It’s a simple flat return with no categories to track.

Perks beyond the points

The card includes a DragonPass airport lounge membership, which gives you access to discounted lounge visits rather than free ones, and a free Boingo Wi-Fi membership.

Additional cards cost $50 each, so after the first year, a primary card plus one additional card adds up to $139 in fees. Factor that in if you plan to share the account with a partner or family member.

Before counting the lounge membership as a benefit, compare the discounted visit price with how often you actually wait in airports. Occasional travellers may never use it.

Fees, interest and the fine print

The first year is free, and the annual fee is $89 after that, or about $7.42 a month.

The foreign transaction fee is 1.5% instead of the 2.5% charged by most cards, so $1,000 of spending abroad costs about $15 in fees rather than $25. If you spend $5,000 a year in foreign currencies, that’s a $50 saving, which covers more than half the annual fee. Purchases are charged 19.99% and cash advances 21.5%; paying the full statement balance on time avoids purchase interest.

Insurance coverage

Insurance is where this card stands out more than its earn rate. Alongside trip cancellation and rental car coverage, it protects event tickets, hotel stays and mobile devices. Check the certificate for limits, eligibility and exclusions before you rely on any of it.

• Rental car coverage for vehicles with an MSRP up to $85,000
• Trip cancellation and trip interruption
• Hotel burglary insurance
• Event ticket protector up to $1,000
• Mobile device protection
• Mastercard Zero Liability protection

Who it suits, and who should look elsewhere

The Brim World Elite suits travellers and online shoppers who make regular foreign currency purchases and want a wide set of insurance coverage without a large fee. The free first year also makes it easy to try before you pay anything.

It’s a weaker choice if your priority is earning. At 1 point per dollar, with no bonus categories outside partner offers and no welcome bonus, a card with grocery or dining multipliers will earn more on everyday spending.

It can also work well alongside a rewards card: use the Brim for foreign currency purchases and insured items like event tickets, and a category card for groceries and dining.

How it compares

The Brim Mastercard has no annual fee and the same 1.5% foreign transaction fee, but earns 0.5 points per dollar on all purchases. If you mainly want the lower FX fee, it’s the cheaper route; the World Elite doubles the base earn rate for its $89 fee.

The Wealthsimple Credit Card has no annual fee and no foreign transaction fee, and earns 1% cash back on everything. For pure foreign spending it costs less to use, though you’d want to compare its insurance with Brim’s before switching.

Before you apply

The recommended credit score is 720 or higher, and Brim Financial makes the final decision based on your full credit profile. Check the current fee, partner offers and insurance terms on Brim’s website before you apply.