Miles & More® World Elite Mastercard® Credit Card Review

Introduction

Selecting the right credit card can be a daunting task given the plethora of choices available in the market. As a financial expert, it is my duty to provide you with comprehensive reviews that break down the nitty-gritty details of popular credit cards. Today, we’ll be reviewing the Miles & More® World Elite Mastercard® Credit Card. This card is particularly appealing for frequent travelers who prefer flying with Lufthansa and its associated airline partners.
With a generous miles earning scheme, a plethora of travel benefits, and an attractive introductory offer, the Miles & More® World Elite Mastercard® Credit Card might just be the travel companion you’ve been searching for. In this review, we’ll delve into various aspects of the card, including its rewards program, fees, benefits, and potential drawbacks. By the end of this article, you’ll have a clear understanding of whether this card is the right fit for your wallet.

Miles & More® World Elite Mastercard® Credit Card Key Takeaways

Before diving into the detailed review, let’s highlight some key takeaways of the Miles & More® World Elite Mastercard® Credit Card:
1. Earning Rate: 2x miles per $1 spent on ticket purchases directly from Miles & More integrated airline partners, and 1x mile per $1 spent on all other purchases.
2. Sign-Up Bonus: Earn 50,000 miles if you spend $3,000 in purchases and pay the annual fee within the first 90 days.
3. Annual Fee: $89.
4. Introductory APR: 0% Introductory APR for the first 15 billing cycles on balance transfers made within 45 days of account opening.
5. Regular APR: 21.24% – 29.99% Variable.
6. Foreign Transaction Fees: None.
7. Additional Benefits: Companion ticket, Lufthansa business lounge vouchers, up to 15% off Hotels & Cars by Points, Mastercard Airport Concierge™, and more.
8. Travel Insurance: Includes trip cancellation and interruption insurance, auto rental collision damage waiver, and baggage delay coverage.

Miles & More® World Elite Mastercard® Credit Card Pros and Cons

Every credit card comes with its own set of advantages and disadvantages. Let’s weigh the pros and cons of the Miles & More® World Elite Mastercard® Credit Card to give you a balanced perspective.

Pros

1. No Foreign Transaction Fee: This is a significant advantage for frequent travelers who make purchases abroad, as they can avoid the typical 3% foreign transaction fees charged by many other cards.
2. Generous Introductory APR for Balance Transfers: The 0% introductory APR for the first 15 billing cycles on balance transfers made within 45 days of account opening can be a boon for those looking to consolidate existing debt.
3. Travel Perks: The card offers a wide array of travel benefits, including a companion ticket, Lufthansa business lounge vouchers, and discounts on hotels and car rentals.
4. Rewards Program: The card’s rewards program is quite attractive for Lufthansa loyalists, offering 2x miles on ticket purchases directly from Miles & More partners and 1x miles on all other purchases.
5. Sign-Up Bonus: The 50,000 miles sign-up bonus is a significant incentive for new cardholders who meet the spending requirement.
6. Comprehensive Travel Insurance: The card includes valuable travel insurance benefits such as trip cancellation and interruption insurance, auto rental collision damage waiver, and baggage delay coverage.

Cons

1. Annual Fee: The $89 annual fee might be a drawback for some, especially if they do not travel frequently enough to offset the cost with the card’s benefits.
2. Limited Redemption Options: Miles can only be redeemed with Lufthansa and its airline partners, which might not be ideal for those who prefer flying with other airlines.
3. Excellent Credit Required: The card requires excellent credit (740-799) to qualify, which may limit its accessibility for some potential applicants.
4. Low Earning Potential on Non-Travel Purchases: The 1x mile per $1 spent on non-travel purchases might not be as competitive compared to other travel rewards cards that offer higher return rates on everyday spending.

Miles & More® World Elite Mastercard® Credit Card Benefits

The Miles & More® World Elite Mastercard® Credit Card comes packed with an array of benefits designed to enhance the travel experience. Here’s a closer look at some of the standout features:

Travel Benefits

1. No Foreign Transaction Fees: One of the most appealing features for international travelers is the absence of foreign transaction fees. This allows you to make purchases abroad without worrying about additional charges, which typically range up to 3% with other cards.
2. Companion Ticket: The primary cardmember is eligible for an economy class companion ticket upon the first use of the new Card Account for a purchase and on the Card Account opening anniversary every year thereafter, provided the Card Account remains open and in good standing. This benefit can result in significant savings for those who frequently travel with a companion.
3. Lufthansa Business Lounge Vouchers: Upon the first use of the Card Account for a purchase, the primary cardmember is eligible to receive 2 one-time use Lufthansa business lounge vouchers. Each year thereafter, the primary cardmember can receive the vouchers, provided the Card Account remains open and in good standing for at least 45 days after payment of the annual fee. This benefit adds a touch of luxury to your travel experience, allowing you to relax in comfort before your flight.
4. Up to 15% off Hotels & Cars by Points: After the first use of the Card Account for a purchase, the primary cardmember becomes eligible for up to 15% off Hotels & Cars by Points. This discount can be a valuable perk for those who frequently book travel accommodations.
5. Mastercard Airport Concierge™: This service is designed to make the airport experience as smooth and painless as possible. A Meet & Greet escort will be waiting when you arrive at the airport and can assist in various ways, such as moving you quickly through immigration checkpoints, helping with baggage, or arranging for chauffeured vehicles. Note that this service comes with a fee.

Miles Redemption

1. Redeem Miles at Several Airlines: You can redeem miles for flight awards and upgrades on Lufthansa, Austrian Airlines, Brussels Airlines, SWISS, Star Alliance Airlines, and other partners. This flexibility allows you to choose from a variety of airlines for your travel needs.

Travel Insurance

1. Trip Cancellation and Interruption Insurance: This coverage protects against forfeited, non-refundable payments and deposits if a trip is canceled or interrupted for covered reasons. This can provide peace of mind and financial protection in case of unforeseen circumstances.
2. Auto Rental Collision Damage Waiver: When declining damage coverage at a rental agency, the card’s coverage secondarily provides protection for damage to or theft of a rental vehicle. This can save you money on rental insurance fees.
3. Baggage Delay Coverage: This travel insurance coverage provides a certain amount (from $100 to $500 depending on the plan) to purchase essential personal items necessary to get you through until your luggage arrives. This benefit can be particularly useful during travel disruptions.

Additional Benefits

1. Purchase Protection: The card offers purchase protection, which can cover eligible purchases against damage or theft for a certain period after the purchase date.
2. Fraud Protection: The card includes fraud protection features to help detect and prevent unauthorized transactions on your account.
3. Payment Flexibility: The card offers flexible payment options, allowing you to manage your finances according to your needs.

Conclusion

The Miles & More® World Elite Mastercard® Credit Card is an excellent choice for frequent travelers, particularly those who often fly with Lufthansa and its airline partners. With its generous rewards program, robust travel benefits, and comprehensive travel insurance, the card offers significant value for those who can take full advantage of its features.
However, the $89 annual fee and the requirement for excellent credit might be a drawback for some. Additionally, the limited redemption options and lower earning potential on non-travel purchases could be a consideration for potential cardholders who prefer more flexibility in their rewards.
Ultimately, the Miles & More® World Elite Mastercard® Credit Card is a strong contender for those who prioritize travel perks and are loyal to the Lufthansa network. By carefully evaluating your travel habits and spending patterns, you can determine if this card aligns with your financial goals and lifestyle.
As always, it’s essential to read the full terms and conditions of the card and consider how it fits into your overall financial strategy before making a decision. With the right approach, the Miles & More® World Elite Mastercard® Credit Card can be a valuable tool in your financial arsenal, enhancing your travel experiences and helping you maximize your rewards.