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National Bank mycredit Mastercard review

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National Bank mycredit Mastercard
Welcome Offer
N/A
Rewards
Up to 1% cash back
Annual Fee
$0
Purchase Interest Rate
20.99%
Cash Advance Rate
22.49%
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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.

In this guide

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  • Frequently asked questions
  • Your reviews

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 TypeInterest Rate
Purchase interest rate20.99%
Cash advance rate22.49%
Standard balance transfer rate22.49%

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

  1. Click the ‘Go to site’ button above or use this secure link to be securely redirected to the online application.
  2. Complete the application, which includes providing your name, email address, social insurance number and birth date.
  3. Review and submit your application.

Compare other credit cards

Name Product Welcome Offer Rewards Purchase Interest Rate Annual Fee Min. Credit Score Description
RBC ION Visa
3,500 points
1.5 points per $1 spent
20.99%
$0
Min. recommended credit score: 660
Get 3,500 Avion points when you get approved for the card.
Neo Credit Mastercard
Get $25.00 + up to 15% cash back
Up to 5% cash back
19.99% - 29.99%
$0
Min. recommended credit score: 600
Get $25 when you sign up for the Neo Financial Mastercard. Plus, earn bonuses like 15% cashback on your first purchase at most partners, and earn an average of 5% cashback at partner stores and at least 1% cashback guaranteed.
Tangerine World Mastercard
10% cash back
Up to 2% cash back
19.95%
$0
Min. recommended credit score: 600
Earn 10% cash back (up to $100) when you spend $1,000 in the first 2 months. Valid until April 30, 2024. Plus, get a 1.95% interest rate on balance transfers for the first 6 months.
American Express Cobalt Card
15,000 points
Up to 5x points per $1 spent
21.99%
$155.88
Min. recommended credit score: 700
Earn up to 15,000 Membership Rewards points in your first year. Earn 1,250 Membership Rewards points for each monthly billing period in which you spend $750 in purchases. That’s up to $150 towards a weekend getaway or concert tickets.
BMO CashBack Mastercard
5% cash back
Up to 3% cash back
20.99%
$0
Min. recommended credit score: 660
Get 5% cash back on all eligible purchases in the first three months of card membership (up to max. spend of $2,500). Plus, get a rate of 0.99% on balance transfers for 9 months. A 2% fee applies to transferred balances.
Tangerine Money-Back Credit Card
10% cash back
Up to 2% cash back
19.95%
$0
Min. recommended credit score: 600
Earn 10% cash back (up to $100) when you spend $1,000 in the first 2 months. Valid until April 30, 2024. Plus, get a 1.95% interest rate on balance transfers for the first 6 months.
RBC Cash Back Mastercard
N/A
Up to 2% cash back
20.99%
$0
Min. recommended credit score: 650
RBC ION+ Visa
7,000 points
3 points per $1 spent
20.99%
$48
Min. recommended credit score: 660
Get up to 7,000 welcome points. Get 3,500 points on approval and earn 3,500 bonus points when you spend $500 in your first 3 months.
BMO eclipse rise Visa Card
25,000
Up to 5 points per $2 spent
20.99%
$0
Min. recommended credit score: 660
Earn up to 25,000 bonus points.
BMO Preferred Rate Mastercard
0.99% rate on balance transfers for 9 months
N/A
13.99%
$0 annual fee for the first year ($29 thereafter)
Min. recommended credit score: 660
Get a rate of 0.99% on balance transfers for 9 months with a 2% transfer fee. Plus, get the $29 annual fee waived in the first year.
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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.

National Bank mycredit Mastercard FAQs

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