Is the Miles & More World Elite Mastercard worth it? | June 2018

Review: Miles & More® World Elite Mastercard® – June 2018

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You’ll find great annual benefits and flexible miles with this travel card.

  • Get this card if… you can take advantage of the card’s annual benefits or often fly with Miles & More carriers.
  • Pick something else if…you rarely fly or want general travel rewards.
  • Recommended good to excellent credit score of 680 to 850.
Product NameMiles & More® World Elite Mastercard®
Intro APR for Balance Transfer0% Intro APR for first fifteen billing cycles (with whichever is greater, $5 or 3% balance transfer fee)
Balance Transfer Rate (not intro)17.49% or 26.49% variable
APR for Purchases ( Purchase Rate )17.49% or 26.49% variable
Annual fee$89
Cash Advance Rate26.74% variable
Card TypeMastercard
Interest Free Period
The interest-free period on purchases is the period or number of days you do not have to pay interest on your card purchases. You will be charged interest either from the day you make a purchase or from the statement date, unless you pay the closing balance in full by the due date (or within the interest-free period) on your statement.
Up to 23 days
Returned Payment Fee$37
Foreign Currency Conversion Fee (MC)
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
0% of transaction value
Minimum Interest$0.50
Minimum Credit ScoreFair (660-699)
Minimum Age18 years of age
Annual fee$89
Returned Payment Fee$37
Late Payment Fee$37
Cash Advance Fee$10 or 5% of the amount of each cash advance, whichever is greater
Rewards ProgramBarclaycard Rewards
Bonus Points on Sign-up20,000
Rewards Points per $ spent (VISA/MC)2
Points ExpiryNever

What Miles & More World Elite Mastercard has to offer

The Miles & More World Elite Mastercard is great for travelers who fly with Lufthansa, SWISS, Austrian Airlines, Brussels Airlines, Star Alliance carriers and more.

It’s $89 p.a. annual fee is easily offset with its generous and flexible rewards structure. As a signup bonus: you’ll earn 20,000 award miles as soon as you pay the card’s annual fee and make your first purchase. And when you spend $5,000 in the first 90 days, you’ll earn another 30,000 award miles. In total, that’s a healthy 50,000 award miles that can get you on a plane right away.

Is 50,000 miles a good haul?

For many flyers, 50,000 miles is a strong bonus. To give you a sense of how far your miles will go, consider these costs for round-trip flights on Lufthansa.

  • North America to North America: 30,000 miles
  • North America to Europe: 60,000 miles
  • North America to Central Asia: 80,000 miles

Typically, Miles & More miles are worth around 1.4 cents apiece. One cent per mile is the industry average.

Spending leads to flexible miles

The Miles & More card has a conventional tiered rewards structure. You’ll earn 1x award miles on all purchases and 2x award miles on ticket purchases from partner airlines including Lufthansa, SWISS, Austrian Airlines, Brussels Airlines, Star Alliance carriers and more.

If you’re shooting for higher status in the Miles & More loyalty program, you’re in luck. Once a year, you can convert between 5,000 and 25,000 award miles into status miles at a five to one ratio.

So 25,000 award miles can be converted into 5,000 status miles. Once you reach 35,000 status miles, you’re into the Frequent Traveler tier, which comes with accelerated mile earnings, complimentary Business Lounge entry and access to an exclusive service hotline.

How to make the annual fee worth it

Earning award miles isn’t the only way to make the $89 p.a. annual fee worth paying. There are three additional perks that deliver immense value.

  • Annual Miles & More discount. Every year, you’ll receive a 15% discount code for bookings on hotels, rental cars and more through the Miles & More program.
  • Annual complimentary lounge access. Every year, you’ll receive two vouchers for free entry into the Lufthansa Business Lounge. Admission per person is worth $35.
  • Annual companion flight ticket. This alone could make your annual fee worth paying. Every year, you’ll receive a ticket that lets you take a companion on an Economy Class flight.

Offsetting the annual fee with award miles

Award miles are worth around 1.4 cents each. Not counting additional perks, this means the annual fee is worth paying if you earn 6,358 award miles.

The perks

  • Signup Bonus: Up to 50,000 award miles.
    After you make one purchase and pay the annual fee, you’ll earn 20,000 award miles.
    After you spend $5,000 within the first 90 days, you’ll earn an additional 30,000 award miles.
  • Rewards: Earn miles on all purchases, and more on tickets from Miles & More airline partners.
    On all purchases, you’ll earn 1 mile per dollar you spend. When you buy tickets from Miles & More airline partners, you’ll earn 2 miles per dollar you spend.
    Redeem your miles for flights and upgrades on Lufthansa, SWISS, Brussels Airlines, Austrian Airlines, Star Alliance carriers and more.
  • Use award miles for status miles.
    Once each year, you can convert award miles you’ve earned into status miles for better traveler perks.
  • 15% discount at Miles & More Hotel and Car Awards.
    Every year, you’ll receive a 15% discount code for hotel and car bookings through Miles & More.
  • Annual Business Lounge vouchers.
    Every year, you’ll earn two vouchers for complimentary access to the Lufthansa Business Lounge.
  • Annual companion ticket.
    Every year, you’ll receive a companion ticket for an Economy Class flight.

Converting award miles to status miles

You can convert 5,000 to 25,000 award miles to status miles at a 5 to 1 ratio. For example, if you convert 10,000 award miles, you’ll get 2,000 status miles.

It takes 35,000 status miles to reach Frequent Traveller status in the Miles & More loyalty program. This level comes with benefits like higher mile earnings, Business Lounge access and an exclusive service hotline.

Lufthansa Business Lounge-London Heathrow Airport

The Lufthansa Business Lounge at London Heathrow Airport.

You’ll also like …

  • Intro balance transfer APR. You’ll get 0% APR for the first fifteen billing cycles on balance transfers that post within the first 45 days.
  • No foreign transaction fees. Use your card internationally without incurring fees.
  • Travel insurance. Enjoy baggage delay, trip cancellation and trip interruption insurance.
  • Mastercard travel assistance. Contact Mastercard for trip planning assistance, physician referrals, lost or stolen travel documents and more.

What to watch out for

  • Annual fee. The Miles & More World Elite Mastercard comes with an $89 p.a. annual fee.
  • Potentially high APR. Depending on your credit, you could have a purchase and balance transfer APR as high as 17.49% or 26.49% variable.
  • Higher APR for cash advances. Cash advances come with a 26.74% variable APR.
  • Other fees. The card has balance transfer fees and cash advance fees.
  • Penalty fees. Late and returned payments can hurt: You’ll pay up to $37.00.

What should I know before I apply?

To apply for the Miles & More World Elite Mastercard, you must be at least 18 years old and a US resident. Residents of Puerto Rico, US territories and Iowa are not eligible.

Always consider your options and your financial situation before you apply for a credit card.

Information you’ll need

  • Full name and contact information
  • Residential status
  • Annual income and employment information
  • Social Security number, date of birth and mother’s maiden name

What credit score do I need?

You’ll have a better chance of approval for the Miles & More World Elite Mastercard if you apply with a good to excellent credit score of 680 or higher.

How to apply for the Miles & More World Elite Mastercard

1. Go to the Barclaycard’s Miles & More World Elite Mastercard website and click Apply Now.

Miles & More World Elite Mastercard step 1

2. Complete the application with details like your name, contact information, employment information and Social Security number. Then click Apply to submit your application.

Miles & More World Elite Mastercard step 2

How long will it take to be approved?

Typically, you’ll receive an immediate decision on your application. In rare cases, you may need to wait a few days to a few weeks until Barclaycard manually approves your application.

I got the card. Now what?

  • Make timely payments. Pay your bill online at the Barclaycard website, where you can also enroll in autopay.
  • Avoid interest. After the close of each billing cycle, you have a grace period of 23 days to pay your balance. If you do, you won’t pay interest on your purchases.
  • Avoid fees. Late and returned payments come with hefty fees of up to $37. Balance transfers and cash advances also come with fees.
  • Customer service. If you have questions, contact Barclaycard customer service at 866-928-8598.

Bottom line

The Miles & More World Elite Mastercard costs $89 p.a. a year, but it’s worth the cost if you can take advantage of its annual perks. On top of that, you’ll earn flexible miles you can redeem with multiple carriers.

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