This article covers the World Elite Mastercard. Capital One Canada also offers a lower-tier World Mastercard in the same family. Aside from a higher APR, a lower application bar, and a different logo on the card, the benefits are almost the same. If your income qualifies, apply for the World Elite version. This blog does not have a separate article on the World Mastercard.
Highlights
- 3% cash back on eligible grocery, gas, and EV-charging purchases, with no total cap. Grocery stores do not include superstores such as Walmart and Costco.
- $0 annual fee on the primary card, and no foreign transaction fee.
- No annual fee, and it still includes some travel insurance.
Who it suits: This card is for people with substantial grocery, gas, or EV-charging spend who want unlimited 3% cash back without an annual fee or foreign transaction fee. The first-year offer matches eligible cash back dollar for dollar; if you spend little in those categories or do not meet the $80,000 personal or $150,000 household income threshold, the main value is lower.
Issuer: Capital One Bank (Canada Branch)
Network: Mastercard World Elite
Card type: Credit card
Annual fee: $0 on the primary card
Foreign transaction fee: none
This card earns Capital One Cash Rewards. Each 1 cash Reward is worth $1 CAD when you redeem it, and redemption is only as a statement credit on this account.
Welcome offer
【October 5, 2026 update】 First-year cash back is matched dollar for dollar:
- For new cardholders, the current official offer matches all cash back earned in the first 365 days, 1:1, at the end of the first year. The match posts within two billing periods.
- That works out to 6% on groceries, 6% on gas and EV charging, and 2% on other purchases.
- Cash advances and balance transfers are not Purchases and do not earn the regular cash back. The exact scope of the first-year match still follows the offer and account terms Capital One provides at the time.
Income requirement: the site currently lists a minimum individual annual income of $80,000, or a household annual income of $150,000. Other approval terms follow Capital One’s application process and the account agreement.
Everyday spending
3%: eligible grocery purchases. This applies only to net purchases at eligible grocery stores. Superstores such as Walmart and Costco are outside the 3% grocery category in the published rewards rules. Merchant category codes are set by the payment network and the merchant’s classification, so whether a purchase qualifies depends on what the account shows or on confirmation from Capital One. The published rewards rules do not set a total cap.
3%: eligible gas stations and EV charging stations. Net purchases at eligible gas stations and EV charging stations earn 3% cash back. The actual category depends on the merchant category code. The published rewards rules do not set a total cap.
1%: other eligible purchases. Purchases outside the categories above earn 1% cash back. Rewards are calculated on the net purchase after it posts. Refunds, returns, and merchant credits reduce the amount that can earn rewards. Cash advances and balance transfers do not earn Rewards.
Benefits and insurance
Travel insurance
Official certificate of insurance🔗
The current official certificate is effective September 1, 2026. The coverage below generally requires the full cost of the airfare, rental, or item, including taxes, to be charged to this card, and the account must stay in good standing. The certificate’s full definitions, exclusions, other-insurance rules, and claim-document requirements take priority over this summary.
- Flight Delay Insurance
If a flight’s departure is delayed at least 4 hours, and no alternative transportation is provided within 4 hours of the scheduled departure, reasonable and necessary lodging, meals, refreshments, essential items, and sundry expenses caused by a listed reason — strike, quarantine, civil unrest, hijacking, natural disaster, severe weather, mechanical breakdown, or being denied boarding because the flight was oversold — are covered up to $250 per 24 hours, for a maximum of 48 hours, and up to $1,000 per trip for all insured persons combined. Other insurance and the certificate’s exclusions still apply.
- Baggage Delay Insurance
If checked baggage is delayed or misdirected for more than 4 hours after it was due at a destination that is not your permanent home, emergency essential items are reimbursed up to $300. The limit is $100 per insured person per day, for up to 3 days, and the certificate’s excluded items and other-insurance rules still apply.
- Lost Baggage Insurance
Direct physical loss of checked baggage and the personal items in it is covered up to $1,000 per trip for all insured persons combined. Cash, tickets, documents, computers, software, phones, jewellery, perishables, animals, and many kinds of vehicles or business property are not covered. The certificate’s exclusions control.
- Common Carrier Travel Accident Insurance
If a listed accidental loss happens while you are entering, riding, or leaving a common carrier that meets the definition, during a trip, the benefit for that loss can be up to $500,000 per person. Multiple accidental deaths on the same account from one event are capped at $1,500,000 combined. The loss must occur or be confirmed within 365 days of the accidental bodily injury that caused it. Illness, war, suicide, criminal acts, and the certificate’s other exclusions are not covered.
- Car Rental Collision/Loss Damage Insurance
The rental must be in the cardholder’s name, and the full rental cost, including taxes, must be charged to this card. Where the rental company offers a collision damage waiver, decline it as the certificate requires. Each rental period cannot exceed 31 consecutive days. Coverage is mainly for damage to a qualifying rental car, theft, reasonable towing, administration fees, and documented loss of use. It is not third-party automobile liability insurance. Vehicle type, value, and other limits follow the certificate.
Shopping coverage
- Purchase Assurance
Eligible new personal items paid for in full with this card are covered for 90 days from the purchase date or the delivery date, whichever is later, against loss, theft, or damage. After the insurer approves the claim, the item can be repaired or replaced. The payment cannot exceed the original full cost. Cash, services, consumables, business purchases, online goods still in transit before you receive them, and many kinds of motor vehicles are not covered.
- Extended Warranty
Eligible items paid for in full with this card, whose original Canadian manufacturer’s warranty is 5 years or less, can have the repair period extended by the length of that original warranty after it ends, up to 1 extra year. Only parts and labour that the original warranty would have covered are included. Used, refurbished, and commercial-use items, motor vehicles, and items whose original warranty is longer than 5 years are not covered.
Purchase Assurance and Extended Warranty together have a lifetime limit of $60,000 per account, and a single item cannot be paid above its original purchase price. The certificate also requires you to notify the insurer as soon as you learn of the loss, and written notice of the claim is generally due within 90 days. Complete claim documents are generally due within one year of the loss. The certificate controls the exact timing.
- Price Protection Service
This is a service, not insurance. For most new personal items bought in Canada and paid for in full with this card, if you find an identical retail price in Canadian dollars in Canada within 30 days — same brand, model, and features — you can ask the service provider to handle it. The price difference must be at least $10 and is capped at $100 per item, $500 per account per calendar year, and at most 3 identical items in the same 30-day period. Request materials should be submitted within 90 days of purchase. Computers, phones, vehicles, consumables, used or refurbished items, business purchases, foreign websites, and grey-market goods do not qualify.
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