National Bank MC1 Mastercard

Earn cashback in your first year and pay no annual fee with this basic no-frills credit card.

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The National Bank MC1 Mastercard is a no-frills credit card designed to help you learn the basics of managing your credit. It doesn’t let you earn points, but you may be able to collect up to $120 cash back in your first year when you spend at least $200 per month on your card. This card also comes with purchase protection and extended warranty coverage for no annual fee.

30-second take

  • Think about this card if you want an easy-to-manage account with no 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 want a fee-free credit card that lets you make purchases without having to track points, then the National Bank MC1 Mastercard could be a good fit.

  • No annual fee. This card comes with no annual fee, so you’ll save on out-of-pocket expenses.
  • Welcome bonus: collect up to $120 cash back in your first year when you spend at least $200 per month on your card..
  • Extended warranty. Get an extra year added to your manufacturer’s warranty when you use your credit card to pay for eligible purchases.
  • Purchase protection. Lock in purchase protection for up to 90 days
    to protect items you buy on your card against theft or damage.
  • Extra cards for free. Grab as many extra cards as you need for no added fee.

The perks

  • Anti-fraud protection. Rest easy with zero-liability insurance to cover fraudulent charges on your account.
  • Instant pay. Tap to pay on the go with Mastercard contactless payment.
  • Added security. Take advantage of online payment security measures like identity verification through Mastercard ID check.
  • Exclusive deals. Enjoy special upgrades and other exclusive offers on hotels, flights, car rentals and more with National Bank’s Priceless Cities program.
  • Low minimum credit limit. Qualify for a credit limit as low as $500 to make sure you don’t exceed your monthly budget.
  • No income requirements. You won’t need to make a certain amount of money each year to qualify.

What to watch out for

  • No rewards. You won’t earn any cash back or points to redeem for rewards when you make purchases on your card.
  • High interest. You’ll pay around 21% interest on outstanding balances and even more for cash advances.
  • Few benefits. There are no added benefits that come with this card such as mobile device protection or roadside assistance.
  • No travel insurance. You won’t get complimentary travel or health insurance coverage with this card.

What should I know before I apply?

Eligibility requirements

To apply for a National Bank MC1 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 and date of birth
  • Your email address and phone number

How to apply

  1. Click “Go to Site” on this page to be directed to the National Bank MC1 Mastercard application.
  2. Complete the application, which includes providing your name, email address, social insurance number and birth date.
  3. Review and submit your application.

Bottom line

The National Bank MC1 Mastercard is a no-frills credit card that offers the chance to earn up to $120 cash back in your first year. It comes with basic insurance like purchase protection and extended warranty coverage but little in the way of other benefits. The biggest downside of this card is that you won’t earn any points or cash back for making daily purchases.

Frequently asked questions about the National Bank MC1 Mastercard

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