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  • $0 Welcome Bonus
  • 1% Rewards Rate
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National Bank mycredit Mastercard Overview

The National Bank mycredit Mastercard is a good choice for anyone looking for a simple reward program. You can earn up to 1% when dining out and for pre-approved payments such as bills.

Every other purchase earns 0.5% cashback. The cashback you earn is deducted automatically from your credit card balance each month.

Also, the National Bank mycredit Mastercard is a good option if you’re looking for an introductory card with zero annual fees. You can save the average $120 annual fee with this card in your pocket.

While the cashback you earn may not trump offerings from other credit cards, the card has several benefits. You will receive purchase protection and an extended warranty. Also, you get mobile device insurance, a rarity with most cashback cards available in Canada.

Also, you’ll get a host of Mastercard benefits, including Priceless Cities, Zero Liability and Tap & Go. You’ll also be able to add other cardholders to your account to increase your cashback rewards.

One other thing that makes this card appealing to everyone is the basic eligibility requirements. You may be approved if you meet the legal status and age requirements.

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Essential Information

Network

Mastercard

Provider

National Bank

Card Type

Cashback

Rewards

With the National Bank mycredit Mastercard, you’ll be automatically enrolled in the National Bank Cashback program.

Cashback

As a holder of the National Bank mycredit Mastercard, you’ll earn:

  • 1% cashback on restaurant purchases and recurring automatic transfers, and
  • 0.5% on every other eligible purchase

Insurance

The National Bank mycredit Mastercard offers the following coverage.

Mobile Device Insurance

If you use your National Bank mycredit MasterCard to purchase a mobile device, you’ll get up to $1000 coverage. The insurance protects your device from theft or damages for a period of up to 2 years. It doesn’t cover unexplained losses of a mobile device.

Purchase Protection

Purchase protection covers instances of theft or damage to items charged to your National Bank mycredit Mastercard. Products receive coverage for up to 90 days from the purchase date.

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Extended Warranty

You can avoid paying for an additional warranty on your purchases using the National Bank mycredit Mastercard. Product warranties are extended for one additional year after the manufacturer’s original warranty expires.

An extended warranty provides secondary coverage. This is useful if you plan to buy household appliances.

Other Perks

Besides cashback rewards, all National Bank mycredit Mastercard holders receive the following benefits.

  • Mastercard® ID Check – protects you against fraud when shopping online by verifying your identity.
  • Mastercard Zero Liability – keeps you from being held liable for unauthorized card transactions.
  • Mastercard Tap & Go® – allows you to checkout quicker by making contactless payments.
  • Option of adding more cards to your account to maximize cashback rewards.
  • Access to unique experiences with Priceless Cities®, including culinary encounters and priority access.
  • Ability to lock your card temporarily or replace it through your online bank if it’s lost or missing.
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Costs and Fees

  • Annual fee: $0
  • Additional card fee: $0
  • The interest rate on purchases: 20.99%
  • Cash advance interest rate: 22.49%
  • Balance transfer interest rate: 22.49%
  • Minimum credit limit: $500

FAQs about the
National Bank mycredit Mastercard

Should I get the National Bank mycredit Mastercard?

This card is suitable for people who don’t want to accumulate a lot of debt. And for those who want a card for essential purposes. It’s especially great if you want a card that can improve your credit score.

Who Is This Card Not Suitable For?

If you don't have a regular source of income, this card may not be best for you. For instance, if you are self-employed. It's better to opt for a different card because the 20.99% interest charged on purchases can accumulate quickly.

What Are the General Eligibility Requirements?

To qualify for the National Bank mycredit Mastercard, you must be 18 years old or older. This age requirement varies depending on your province’s age of majority. You should also be a Canadian resident at the time of your application.

What Is the Credit Score Requirement for the National Bank mycredit Mastercard?

To qualify for the National Bank mycredit Mastercard, you should have a good credit score. It should be 600 or higher.

What Benefits Come With the National Bank mycredit Mastercard?

The National mycredit Mastercard comes with purchase insurance. This covers damage or theft to eligible purchases made with your card for up to 90 days. You’ll also receive mobile insurance for eligible mobile devices purchased with your card. And an extended warranty of up to 1 extra year.

Does the National Bank mycredit Mastercard Come With a Welcome Bonus?

Unfortunately, the National Bank mycredit Mastercard doesn’t come with a welcome bonus. However, it has zero annual fees and no additional fees on extra cards.

What Is the Minimum Income Requirement?

If you want to sign up for a National Bank mycredit Mastercard, you'll be glad to know it has no income requirement. Therefore, almost anyone can receive approval for this card.

General Terms

National Bank's Mastercard® mycredit® credit card won the 2022 Milesopedia Award for Best Credit Card in Canada for Newcomers. The ranking is based on an analysis of nearly 200 credit cards offered to Canadians based on their overall features and cardholder opinions on their experiences with these products. *National Bank of Canada received the highest CX Index™ score among credit card issuers in Canada in Forrester’s proprietary 2021 CX Index™ survey. The ranking was based on responses from 8,840 measuring 12 brands. The proprietary survey results are based on consumers’ opinions of the experiences with the brands in the survey. Forrester Research does not endorse any company included in any CX Index™ report and does not advise any person to select the products or services of any particular company based on the ratings included in such reports. 1. Subject to credit approval by National Bank of Canada.  The cashback granted is 1% on restaurant purchases and on recurring pre-authorized payments when you use recurring automatic transfers with your mycredit account. The cashback of 0.5% applies to all other eligible purchases during a billing cycle. The account must be in good standing when the cashback is awarded. Your account is in good standing when you comply with the obligations of your cardholder agreement (e.g., making your minimum payment by the due date). These eligible automatic transfers are defined as regular payments that are automatically withdrawn by a merchant on your credit card. Balance transfers, cash advances and fees resulting from the use of the card are excluded from the cashback calculation. For conditions and restrictions that apply to cashback rewards, refer to the Cashback Program [PDF]. 2. Grace period: No interest will be charged on purchases made during the month, provided the client pays the balance in full within twenty-one (21) days of the statement date. This grace period does not apply to cash advances or balance transfers. Minimum payment: If your account balance is lower than $10, you must pay the entire balance. If you reside in the province of Quebec, your minimum payment will correspond to 5% of the credit card account balance plus any overdue payment or $10, whichever amount is higher. If you reside outside of Quebec, your minimum payment represents 2.5% of the credit card account balance plus any overdue payment or $10, whichever amount is higher. Account statement: A statement is sent monthly. 3. Subject to credit approval by National Bank. Each balance transfer must be at least $250. 4. Subject to the mobile device’s purchase with the card or mobile plan settled by recurring pre-authorized payments from your mycredit account. 5. This coverage applies to purchases charged to the National Bank mycredit card. Extended warranty coverage applies to most new items purchased with the card, in Canada or abroad, as long as the manufacturer's warranty is valid in Canada. Certain conditions and restrictions apply. For more information and for details of your insurance coverage, please consult the insurance certificate associated with your card. 6. Certain conditions apply. Visit mastercard.ca for more information. Refer to the credit card terms and conditions. 7. Subject to credit approval by National Bank. 8.Some merchants may not be eligible. ®MASTERCARD AND TAP & GO are registered trademarks, and the circles design is a trademark of Mastercard International Incorporated. Authorized user: National Bank. ®MYCREDIT is a trademark of National Bank of Canada. TM ID Check and Identity Check are trademarks of Mastercard International Inc. Authorized user: National Bank. TM CX Index and Forrester are trademarks of Forrester Research Inc.

National Bank mycredit Mastercard Details

Provider
National Bank
Network Provider
Mastercard
Card Type
Balance Transfer, Rewards
Rewards Type
Cashback
Annual Fee
$0
Purchase Interest Rate
22.99%
Cash Advance Rate
22.49%
Balance Transfer Rate
22.49%
Credit Needed
Good (660 - 724)
                                                                                                                    

National Bank mycredit Mastercard Offices

Phone Number
1-888-835-6281
Email
info@nbc.ca
Hours
Monday to Friday, 7 a.m. to 10 p.m. (ET), Saturday and Sunday, 8 a.m. to 8 p.m. (ET)
Address
600 Gauchetiere St W Montreal QC H3B 4L2 Canada
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National Bank mycredit Mastercard Card Details
  • Min. Credit :
    Good (660 - 724)
                                                                    
  • Card Type : Balance Transfer, Rewards
  • Reward Type : Cashback
  • Providers : National Bank
  • Network Provider : Mastercard
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