Whether you’re looking to redeem points on your next vacation or you want to lock in a low-interest rate for a large purchase, chances are you can find what you’re looking for with National Bank. Check out our recommendations for cards that offer the best deal below.
Best National Bank credit cards
National Bank offers a variety of cards to customers, ranging from travel points to cashback to no-fee and low-interest rates. MasterCard is the only type of card on offer, so these cards probably won’t work for you if you’re in the market for a Visa or American Express.
finder does not currently have access to this credit card provider. Please review the product details, application criteria and terms and conditions on the provider website if you are considering applying for this product.
Best for cashback rewards
Echo Cashback MasterCard
This card lets you earn up to 1.5% cashback on gas, groceries and online purchases, with a 1% return on everything else. Once you earn at least $25, you can apply your savings to your outstanding balance.
There’s a $30 annual fee for this card, but you should be able to pay it down relatively quickly with the money you save. For example, if you pay $500 per month for gas and groceries combined, you’ll earn $7.50 in cashback. Throw in another $400 on other purchases, and you’ll get an additional $4 back, for a total savings of $11.50 per month. This might not seem like much, but adds up to around $138 every year.
You could also consider applying for the mycredit Mastercard, which comes with no annual fee. It only gives a 1% return on all purchases but you may qualify for a promo offer which would give you up to 6% cashback in your first three months.
1.5x the rewards. Get additional cashback on gas, groceries and online purchases.
Low annual fee. Pay only $30 for the year.
Low-interest balance transfers. Lock in a promotional rate of 3.9% on balance transfers in your first six months.
What to watch out for
No promo offer. Unlike the mycredit MasterCard, the Echo doesn’t offer an introductory rate.
Lower rate on some purchases. You’ll only get a 1% return on non-essential items.
Best for travel points
If you’ve got itchy feet and can’t wait to book your next trip overseas, you might like to consider the Platinum MasterCard. This card allows you to save one point per dollar spent and comes with a wide array of benefits, including comprehensive travel insurance.
One of the main perks of this card is that you don’t need a minimum income to qualify. It also offers most of the bells and whistles for a fraction of the cost of other travel cards on offer. The savings aren’t as high though: If you spend $2,000 per month on your card, you’ll only save around $200 for the year.
The other alternative is to apply for a World Elite MasterCard, which has a promo fee-free in the first year offer on as of March 21, 2019. This card offers double the points, but there’s a catch: the number of points you earn is based on your net spending over the year.
To qualify for 2 points per dollar, you have to spend between $40,000 and $80,000 on your card. After the first year, you’ll also need to pay an annual fee of $150, which significantly eats into your potential savings. Another downside is you need a minimum individual income of $80,000 to qualify.
Exclusive travel deals. Qualify for special discounts on vacation packages and travel tickets.
Purchase protection. Get triple the warranty and 180 days of coverage on most purchases made with you card.
Travel insurance. Take advantage of short-term emergency medical, trip cancellation/interruption and baggage loss insurance.
What to watch out for
Less points. If you opt for the Platinum card, you’ll only earn one point per dollar spent instead of two (which means you’ll need to spend up to $12,000 to get a $100 discount).
High annual fee. Even for the bare bones version of this card, the annual fee is $89.
Best for low interest
If you’re on the hunt for a low-fee, low-interest card, look no further than the Syncro MasterCard. This card may not have all the bells and whistles, but the 8.90% interest rate on purchases is a big draw for customers compared to the average 20% rate charged on other cards.
In theory, this means if you have an outstanding balance of $1,000, you’ll pay $8.90 in interest instead of $20. The larger the amount you owe, the more you save on interest. You’ll also pay only $35 for the annual fee, which is less than the fee on offer for many other National Bank cards.
You might like to consider this card if you’re looking to finance a large purchase or you have trouble paying off your balance in full every month.
Low interest. You’ll only pay 8.90% interest on purchases and 12.90% on cash advances and balance transfers.
Reasonable fee. The annual fee is only $35 per year.
Purchase protection. Benefit from 90-day purchase and warranty protection.
What to watch out for
No rewards. You won’t earn points or cashback on purchases.
Few benefits. This card is fairly basic, so you won’t be able to take advantage of many extras.
Best for fee-free rewards cards
CAA Rewards MasterCard
If you’re a CAA member, then this card offers the most bang for your buck in terms of dollars to points ratio. You can earn up to 1% cashback in CAA dollars on eligible purchases, and up to 2% on purchases at participating CAA Club retailers (except for on travel purchases).
Every CAA Dollar you earn equals $1 CAD, and you can redeem CAA Dollars towards travel merchandise, membership renewal, gift memberships, vacation getaways or even your next insurance renewal premium.
If you spend $1,000 on your card per month (which is pretty easy to do), you could earn as much as $20 to spend on your CAA membership, insurance or other rewards. You can also earn additional rewards by shopping with online partners like Indigo and Sephora, or local partners ranging from movie theatres to coffee shops to travel agencies.
No fee. Pay zero fees to rack up more CAA points.
Targeted rewards. Earn CAA dollars to help cover the costs of membership, insurance premiums, auto maintenance and repairs.
Member deals. Get access to exclusive discounts and one-of-a-kind experiences.
What to watch out for
Very specialized. This card will be no good to you unless you’re a CAA member, which costs $150 per year.
No cashback. You won’t be able to convert points earned into cash should you decide to leave CAA.
National Bank MasterCard rewards program
National Bank MasterCards offer returns in the form of targeted rewards, cashback, travel points and low-interest rates.
How to redeem points
For cashback, you can just sign into your online banking to see how much you’ve earned and request to apply amounts over $25 onto your next bank statement. To redeem points, you just need to sign on to your rewards account or call the À la carte Rewards Centre.
How much is money worth?
It depends on which card you choose. For the cashback card, you earn a small percentage (1 – 2%) of the money that you spend. For the travel card, around 12,000 points (between $6,000-$12,000 in spending, depending on the card) translates to a savings of around $100. For the fee-free and low-interest cards, the real value is the money you save on interest and fees up-front, so you won’t be able to take advantage of additional rewards.
Typical card benefits and features of a National Bank card
National Bank offers a number of credit cards options to suit every need. Each card offers its own range of unique features, but there are also common features across cards.
Contactless payments. Check out in a flash with Tap & Go.
Purchase protection. Enjoy damage, loss or theft protection on most purchases.
Extended warranty. Double or triple the manufacturer’s warranty on most purchases.
24/7 concierge services. Call in for quick and easy access to customer support.
Secure online purchases. Protect your credit card information by creating a SecureCode for online purchases.
Fraud protection. Rest easy with Mastercard’s Zero Liability policy, which protects you against fraudulent purchases.
Exclusive offers. Buy tickets for one-of-a-kind events offered only to MasterCard holders.
How to apply for a credit card with National Bank
You can apply for a credit card with National Bank through its website. Before you apply, make sure you meet the minimum eligibility requirements and prepare some basic information.
You must be at least 18 years old.
You must be a Canadian citizen.
Full name and date of birth.
Street address and phone number.
Valid email address.
Total annual income.
How does National Bank keep my credit card information safe?
National Bank provides enhanced protection for your card by asking for a SecureCode for online purchases. You’ll also be protected against fraud with Mastercard’s Zero Liability policy.
National Bank offers a variety of cashback, rewards, no fee and low-interest credit cards. Compare their current cards to find out which one is the best fit for you. If you’re not quite satisfied, check out the features and benefits on offer from other credit card providers.
Frequently asked questions
You can exchange your points for items from the gift catalogue (including gift cards) as well as travel discounts.
You won’t earn cashback on cash advances, balance transfers, or additional charges like annual fees, foreign exchange transactions and insurance premiums.
It depends on the card. Some cards are fee-free but offer limited rewards, while others come with a medium-high fee, but offer lots of benefits.
Claire Horwood graduated with a Bachelor of Arts from the University of Victoria, and became a freelance writer in 2017. She has traveled extensively (24 countries and counting) and enjoys working remotely for clients all over the world. In her spare time, Claire loves rock climbing, drinking inordinate amounts of coffee and reading the epic graphic novel series, SAGA.
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