National Bank mycredit Mastercard review
- Welcome Offer
- N/A
- Rewards
- Up to 1% cash back
- Annual Fee
- $0
- Purchase Interest Rate
- 20.99%
- Cash Advance Rate
- 22.49%
Summary
Earn a decent return on cash back and get a generous welcome bonus when you sign up for the fee-free National Bank mycredit Mastercard.
Earn 1% cash back on every $1 spent in restaurants and on recurring pre-authorized payments, and 0.5% cash back on other eligible purchases.
30-second take
- Think about the National Bank mycredit Mastercard if you want the chance to earn a decent cash back return but you don’t want to pay an annual fee.
- Choose something else if you’d rather collect points or you want comprehensive benefits.
- There are no minimum annual income requirements to qualify.
The basics
If you’re looking for a no-frills credit card that lets you earn cash back on every purchase, then you might like to check out the National Bank mycredit Mastercard.
- No annual fee. Save money upfront with no annual fee
- Cash back return. Earn 1% cash back on every $1 spent in restaurants and on recurring pre-authorized payments, and 0.5% cash back on other eligible purchases.
- Extended warranty. Double your manufacturer’s warranty for eligible products you buy with your card.
- Purchase protection. Lock in purchase protection for up to 90 days
to protect items you buy on your card against theft or damage. - Mobile device insurance. Get up to $1,000 in coverage to pay for your mobile phone if it gets lost, broken or damaged (active for up to 2 years after purchase).
The perks
- Zero-liability coverage. Cover yourself against any losses related to fraudulent charges on your account with zero-liability insurance.
- Instant pay. Tap to pay on the go with Mastercard contactless payment.
- Enhanced security. Protect your online purchases with identity verification through Mastercard ID check.
- Extra cards for free. Grab up to 3 extra cards for no added fee.
- No income requirements. You won’t need to make a certain amount of money each year to qualify.
What to watch out for
- Low return. You’ll only get 0.5% cash back on most purchases (which is about $5 for every $1,000 you spend).
- High interest. You’ll pay 20.99% interest on outstanding balances and 22.49% for cash advances.
- Statement credits only. Cash back is applied as a credit to your account, so you won’t be able to save it aside for other uses.
- No travel insurance. You won’t get complimentary travel or health insurance coverage with this card.
National Bank mycredit Mastercard interest rates
| Interest Type | Interest Rate |
|---|---|
| Purchase interest rate | 20.99% |
| Cash advance rate | 22.49% |
| Standard balance transfer rate | 22.49% |
What should I know before I apply?
Eligibility requirements
To apply for a National Bank mycredit Mastercard, you need to meet the following criteria:
- Be a Canadian citizen or permanent resident who is at least 18 years old (19 in some provinces)
Required documents and information:
- Your name, residential status and contact information
- Your social insurance number (SIN) and date of birth
- Your email address and phone number
How to apply for the National Bank mycredit Mastercard
- Click the ‘Go to site’ button above or use this secure link to be securely redirected to the online application.
- Complete the application, which includes providing your name, email address, social insurance number and birth date.
- Review and submit your application.
Compare other credit cards
Bottom line
The National Bank mycredit Mastercard is a no-frills cash back card that gives you the following: Earn 1% cash back on every $1 spent in restaurants and on recurring pre-authorized payments, and 0.5% cash back on other eligible purchases.. It also comes with other perks like purchase protection and mobile device insurance when you sign up.
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