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Groceries and restaurants in Canada keep getting more expensive. To help manage costs, choose a credit card that rewards spending in these categories.
If you’ve experienced sticker shock in the grocery aisles recently, you’re not alone. Feeding yourself and your family has become increasingly expensive over the past several years, with the cost of groceries and eating in restaurants spiking since the start of the COVID-19 pandemic. (Want a lively discussion at the next family get-together? Just mention the price of eggs and butter.) And while the overall rate of inflation has decreased recently, food prices are still well above what they were only four years ago, according to Statistics Canada’s most recent update of the Consumer Price Index.
You can’t do much about grocery prices, aside from using coupons and discount apps, but the right credit card can help you put those expenses to work in your favour (and ultimately benefit your wallet). With National Bank’s World Elite Mastercard, you’ll earn up to five points per dollar spent on groceries and restaurants for the first $2,500 in gross monthly purchases, making this card a strong pick for families and frequent diners. Read on to learn more about how this card can help you leverage your spending. (Terms and conditions apply.)
You can’t control the costs of food, but you can make those expenses pay dividends using a credit card that rewards grocery and restaurant spends. National Bank’s World Elite Mastercard, for example, has an earn rate of five points per dollar for the first $2,500 in gross monthly purchases charged to the account, regardless of the purchase category. After that, you will earn two points per dollar on eligible grocery and restaurant purchases.
Besides food, the National Bank World Elite Mastercard has boosted earn rates for recurring bills, gas and electric vehicle charging and travel booking through À la carte Travel. For all of these categories, cardholders get two points per dollar spent, with no limit to how many points you can earn. All other eligible purchases earn a base rate of one point per dollar spent, making this a solid choice for everyday spending.
Can a rewards credit card help you manage rising costs for everyday expenses? Perhaps, for certain things. As noted above, the National Bank World Elite Mastercard has an earn rate of up to five points per dollar spent on food and restaurants. Let’s see how it stacks up against food inflation.
According to Canada’s Food Price Report for 2024, published by the AgriFood Analytics Lab at Dalhousie University, a family of four is expected to spend $16,297.20 on food this year—up $701.79 from last year. Spending $16,297 on food using a National Bank World Elite Mastercard could earn 81,485 rewards points. That’s almost enough for a $600 payment toward a National Bank mortgage.
This isn’t just a great card for buying food—it’s also a trusty travel companion with features and benefits.
When you book your travel with this card, you’ll be covered automatically by an insurance package that includes medical insurance when you’re out of your province of residence, trip cancellation, trip interruption, departure flight delay insurance, stolen luggage and vehicle rental coverage (for an accident, fire, theft or vandalism)—a package worth hundreds of dollars. (Insurance is limited to specific amounts; read the full insurance details.)
Plus, as a cardholder, you’re welcome to make unlimited visits to the National Bank Lounge at Montréal-Trudeau Airport, so you can arrive at your international destination well fed and well rested.
Finally, this card comes with an annual travel refund of up to $150 that you can use to receive reimbursement on eligible expenses including airport parking fees, baggage fees, seat selection fees, access to airport lounges worldwide and airline ticket upgrades.
If you don’t meet the National Bank World Elite Mastercard’s personal income requirement of $80,000 or minimum household income of $150,000, consider the National Bank Platinum Mastercard.
This card has no income requirement, and it offers two rewards points per dollar spent on eligible groceries and restaurants, for the first $1,000 in gross monthly purchases charged to the account, regardless of the purchase category. After that, you will earn 1.5 points per dollar in eligible grocery and restaurant purchases.
Inflation, the rising cost of living, and super-sized grocery bills are all outside your control, but you can choose the credit card you use. Take back some of your spending power with the National Bank World Elite Mastercard.
This is a paid post that is informative but also may feature a client’s product or service. These posts are written, edited and produced by MoneySense with assigned freelancers and approved by the client.
® Mastercard and World Elite are registered trademarks, and the circles design is a trademark of Mastercard International Incorporated. Authorized user: National Bank.
® National Bank and À la carte rewards are registered trademarks of National Bank of Canada.
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