Editorial Note: Comparewise is supported by our readers. When you find products and services through links on our site, we may earn commission.
**Limited time offer: Get a $75 cash back welcome bonus described below! Promotion ends June 30, 2023. *Promotion conditions below.
Welcome cashback offer
If you’re a new cardholder with National Bank, you can receive $75 cashback when you purchase $1,500 with the mycredit Mastercard in the first 3 months.
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.
With the National Bank mycredit Mastercard, you’ll be automatically enrolled in the National Bank Cashback program.
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
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 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.
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.
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.
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
Net purchases are the amount of purchases charged to the account, less returns and refunds. Annual fees, balance transfers, cash advances (including transactions that can be converted directly into cash, such as money orders, travelers checks and gaming-related transactions), interest charges and any other fees or adjustment are not considered purchases and are therefore not included in the calculation of the net purchase amount.
Account in good standing
Account must be in good standing at time of cashback payment.
“Account in good standing” means an account linked to the credit card and in no way contravening the Agreement governing the use of the Credit Card and on which no restriction is applicable. By way of example and without limitation, the related annual fees must have been paid in full.
- The promotion is intended for people who do not have a National Bank Mastercard credit card or who have not held a National Bank credit card in the last 24 months.
- There is a limit of one $75 cashback per eligible credit card account during the promotion period, regardless of the number of cards associated with the account.
- It is not possible to combine this promotion with other credit card promotions offered by National Bank.
- Employees of National Bank, its subsidiaries and group entities are not eligible for this promotion.
- The promotion may be modified, extended or canceled at any time, without notice.