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Santander World Elite Mastercard review January 2020
Frequent fliers will enjoy this premium card with impressive perks.
The Santander World Elite Mastercard has some generous benefits that make it an ideal travel companion, but they come at a price.
You say: ★★★★★We say: ★★★★★
Doing its job: 4/5
In a nutshell:
0% interest on balance transfers
Balance transfer fee
0% interest on purchases
|Annual/monthly fees||£15 per month|
|Balance transfers||0% for 18 months reverting to 18.9%|
|Balance transfer fee||0% for 18 months reverting to 3% (min. £5)|
|Purchases||0% for 18 months reverting to 18.9%|
|Purchases interest-free period||Up to 56 days|
|Min. credit limit||£2,000|
|Max credit limit||Not specified|
|Additional cards available||3|
|Incentive||0.5% on £1 to £3000 of monthly spend. Maximum of £15 cashback paid per month. Cashback paid Monthly into Card Account. Maximum spend for cashback purposes is limited to credit limit.|
|Lounge access||Membership to LoungeKey, complimentary access to over 1000 airport lounges worldwide.|
|Cashback details||0.5% on £1 to £3000 of monthly spend. Maximum of £15 cashback paid per month. Cashback paid Monthly into Card Account. Maximum spend for cashback purposes is limited to credit limit.|
Chris Lilly is a publisher at finder.com. He's a specialist in credit-based products including business and personal loans, mortgages and credit cards, and is passionate about helping UK consumers make informed decisions about their borrowing. In his spare time Chris likes forcing his kids to exercise more.
Only available to existing Santander Select or Private Banking customers, and going head-to-head with the slightly-more-expensive HSBC World Elite, this card offers interest-free periods on both balance transfers and purchases, as well as significant rewards and travel perks.
Cardholders can travel in style with free LoungeKey membership – one of the most popular programmes going – allowing unlimited access to airport lounges in over 120 countries. Plus when you use your card overseas, you won’t have to worry about pesky non-sterling transaction fees.
Other benefits include ongoing cashback, 24/7 Mastercard Concierge and World Elite Privileges discounts and offers.
The obvious downside here is the fairly hefty monthly account fee, but if you take advantage of the 3 additional cards available, you could get more out of the rewards and benefits schemes – potentially making that fee worth swallowing.
Pros and cons
- Earn cashback on purchases.
- No foreign transaction fees on purchases.
- 0% interest on purchases and balance transfers for an introductory period.
- No balance transfer fee within introductory period.
- Mastercard Concierge.
- Free LoungeKey airport lounge membership, with complimentary access for additional cardholders.
- No extra fees for up to three additional cardholders.
- Did we mention the monthly account fee?
- Must be a Santander Select or Private banking customer.
- High annual income requirement to open Select or Private bank accounts.
How does this card compare with other rewards credit cards
When it comes to repayments, you can make manual repayments online or over the phone (0800 389 9905), or alternatively set up a direct debit. A direct debit is a great idea because it protects you from forgetting to make a repayment and either damaging your credit score, getting hit with a penalty fee or losing any promotional rates as a result. You can arrange a direct debit for repayments when you apply for the credit card. The table below shows the options available.
Choose from the following direct debit options for your monthly repayments:
|Minimum amount||Fixed amount||Fixed percentage||Full amount|
How to apply for the Santander World Elite Mastercard
You can apply by visiting the Santander website and completing an online application form. Before you apply, check that you meet all the eligibility requirements and ensure you have the relevant personal and financial information you’ll need to complete your application.