Cathay World Elite Review 2025: Is It Worth It for Asia Miles Earners?
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The Cathay World Elite® Mastercard - powered by Neo is a solid choice for frequent Cathay Pacific flyers who spend big abroad. While you earn 2x Asia Miles on foreign purchases, the 3% FX fee can effectively offset the value — making it a wash.
Quick fact, at a glance
Best for:
- Frequent Cathay Pacific travellers
If Cathay Pacific is your airline of choice, you’ll get the most out of the card’s reward program. Plus, you can make full use of the top earn rate (4x points on Cathay Pacific flights).
- Cathay Pacific travellers who spend often in foreign currencies
While there is a 3% foreign transaction fee, getting 2x Asia Miles on foreign purchases can help offset the fee if you spend big abroad.
- Cathay Pacific flyers who value travel insurance over lounge access
If travel insurance is your priority, the Cathay Pacific World Elite Mastercard offers a suite of complimentary policies, such as car rental, health and flight coverage. But that’s the extent of the travel perks, especially when it comes to airport lounge access — you only get DragonPass membership, no free passes.
Not ideal for:
- Occasional or non-Cathay Pacific travellers
Asia Miles is Cathay Pacific’s reward program, so if you don’t fly on the airline often, their rewards won’t be of much use to you.
- Quebec residents
As of this writing, the Cathay Pacific World Elite Mastercard is not available in Quebec.
- Cardholders looking for a no FX fee card
The rewards on foreign purchases help offset the 3% foreign fee, but it’s not a true no-FX fee card. Take a look at our list of best cards with no foreign transaction fees for alternatives.
Full editorial review
Most credit cards have strengths and trade-offs, and few excel across the board. That’s why we rate each card in key categories — from “OK” (the lowest) to “Excellent” (the highest) — to help you see where it shines and where it falls short.
Note: This card is scored as a Travel Card, which means we use the following weighting when assessing the card’s features:
Rewards
"EXCELLENT"
Cathay Pacific’s Asia Miles scores highly in NerdWallet’s analysis of over 70 reward programs. It offers a high redemption value and strong bonus rates, outperforming other Canadian airline cards.
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Earning Asia Miles
Earn 4x Asia Miles for every $1 spent on Cathay Pacific flights.
Earn 2x Asia Miles for every $1 spent on purchases made in foreign currencies.
Earn 1x Asia Miles for every $1 spent on everything else (Canadian purchases).
Earn an average of 5x Asia Miles at Neo partners.
Estimated value of one Asia Mile:
$0.015*
Estimated value of miles earned per $1,000 spent:
$15*
Estimated value of miles earned per year:
$432*
Welcome offer
As of this writing, new cardholders can get up to 60,000 Asia Miles when they sign up for the Cathay Pacific World Elite Mastercard.
35,000 miles upon getting the card.
25,000 additional miles after spending at least $5,000 in the first three months.
New cardholders also get 15% off Cathay Pacific flights by using the discount code: CXNEO15OFF. This offer is not available to Quebec residents, and bookings must be made using the Cathay Pacific World Elite Mastercard.
*according to NerdWallet’s analysis and calculations.
Fees and interest rates
"GOOD"
The annual fee and purchase interest rate are higher than average for a travel card, but solid travel perks and some basic insurance coverage help justify the cost.
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Annual fee: $180
Based on the above estimated value of miles earned each year, the card’s rewards won’t quite cover the annual fee. However, the airport lounge access and complimentary travel insurances may help offset the remaining cost.
Average annual fee for a travel card in Canada: $118*
Purchase interest rate: 19.99% - 26.99%
The interest rate you get is based on your credit history and application details.
Average interest rate for a travel card in Canada: 21.18%*
Cash advance interest rate: 22.99% - 28.99%
Cash advances apply to cash-like transactions, such as ATM withdrawals, and start accruing interest immediately.
Foreign transaction fee: 3%
The card's FX fee may cancel out the rewards earned on foreign purchases, essentially making the card a no-FX credit card. For example, if you spend $100 in foreign currency purchases, you’d earn roughly 200 Asia Miles — an estimated value of $3. You’d also be charged a 3% transaction fee on the $100, which equals $3. The fee eats up the rewards, but your rewards are essentially paying the fee.
*according to NerdWallet’s analysis of over 200 credit cards, as of this writing.
Travel perks
"OK"
Cardholders have access to a wide range of complimentary travel insurances, but there are no complimentary lounge passes, priority boarding or car rental discounts, for example.
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Complimentary travel insurances
Auto Rental Collision/Loss Damage: Up to 48 days.
Car Rental Accidental Death & Dismemberment: $2,500 to $100,000, depending on the type of claim.
Car Rental Personal Effects: Up to $1,000 ($2,000 if more than one person).
Delayed and Lost Baggage: Up to $1,000.
Out of Province/Country Emergency Medical: Up to $1,000,000.
Flight Delay: Up to $500.
Hotel and Motel Burglary: Up to $1,000.
Trip Cancellation/Trip Interruption: Up to $1,000 ($5,000 if more than one person).
Airport lounge access
Access to over 1,300 airport lounges via Dragonpass membership (visit fees may apply).
Asia Miles Membership perks
The following perks are available to all Asia Miles members, regardless of holding the Cathay Pacific World Elite Mastercard.
Priority check-in online, up to 48 hours before the departure of your flight.
Ability to redeem Asia Miles for extra baggage and legroom.
Ability to cancel a booking 24 hours after purchase.
Mastercard travel perks
The following perks are available to all Mastercard holders.
Access to the Mastercard Airport Security Fast Track service.
Airport transport bookings available through Mastercard Airport Transfer.
Other benefits
"OK"
Cardholders have access to a basic selection of purchase protections and digital wallets but that’s where the non-travel perks end. There are no discounts from partner stores, annual credits or concierge services on offer.
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General perks
Purchase protection within 90 days of the transaction.
Extended warranty up to one year.
Mastercard Zero Liability coverage
Digital wallet compatibility: Apple Pay and Google Pay.
Secured option available (for newcomers or people with no or bad credit).
Customer ratings and feedback
"OK"
Neo Financial — the card’s issuing bank — has a low Trustpilot and BBB rating. However, consumer sentiment on Reddit applauds the card’s discounts and welcome offer.
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Consumer ratings
Note: Customer review websites can be insightful, but keep in mind that the reviews may not accurately reflect the average experience; for example, unhappy customers may be overrepresented in these reviews. Products also change over time, and reviews may reflect experiences with features and benefits that are no longer available. Nevertheless, these sites are just one way to learn more about the company and the products on offer before you make a decision.
Low Trustpilot rating: Neo Financial — the card’s issuer — has 2.5 out of 5 possible stars based on more than 260 customer reviews at the time of this writing.
Low Better Business Bureau rating: Neo Financial has 1.18 out of a possible 5 stars, according to more than 70 customer reviews on the Better Business Bureau website, at the time of this writing.
What Redditers are saying
Discussion about the new Cathay Pacific World Elite Mastercard are few and far between on Reddit (as of this writing), but a few users give the following insights:
When looking at discussions around Neo Financial, some readers have concerns about the lack of customer support, while others do not.
Cathay Pacific World Elite Mastercard comparison
Here’s a look at how the Cathay Pacific World Elite Mastercard holds up against our best overall travel credit card.
Rewards breakdown
Rewards breakdown
NerdWallet's take
NerdWallet's take
Card details
Card details
Rewards breakdown
Rewards breakdownNerdWallet's take
NerdWallet's takeCard details
Card detailsMethodology
BACK TO TOPFrequently asked questions
Is there a secured version of the Cathay Pacific World Elite Mastercard?
Is there a secured version of the Cathay Pacific World Elite Mastercard?
Yes. You get all of the same perks as the unsecured version without the credit check, but you must provide security funds (at least $50, up to $10,000). Your credit limit is equal to the deposit amount. So, if you put down a $5,000 security deposit, your credit limit will be $5,000.
What are Asia Miles?
What are Asia Miles?
Asia Miles is Cathay Pacific’s reward program. You can become an Asia Miles member by signing up online. Using a credit card that earns Asia Miles can help you boost your rewards, but isn’t required for membership.
Does the Cathay Pacific World Elite Mastercard have a virtual card?
Does the Cathay Pacific World Elite Mastercard have a virtual card?
Yes. If approved, you can start using your virtual card immediately.
Who is eligible for the Cathay Pacific World Elite Mastercard?
Who is eligible for the Cathay Pacific World Elite Mastercard?
You must be a Canadian resident, the age of majority in your province or territory, and have an annual income of at least $80,000 ($150,000 for households) to apply for the Cathay Pacific World Elite Mastercard.
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Shannon Terrell
Shannon Terrell
