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National Bank Syncro Mastercard review
Get a low interest rate on your everyday purchases with the low-fee National Bank Syncro Mastercard.
You’ll pay a rate of 4% plus prime for outstanding balances, with a minimum rate of 8.90%
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The National Bank Syncro Mastercard offers a low interest rate on outstanding balances.
30-second take
- Think about the National Bank Syncro Mastercard if you want a low interest rate or an affordable 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.
National Bank Syncro Mastercard review: The basics
If you regularly carry a balance on your credit card, then you might like to check out the low-interest National Bank Syncro Mastercard. This card doesn’t let you earn points or cash back on your purchases, but it lets you save money on interest payments throughout the year. It also comes with a low annual fee of $35.
You’ll also get basic insurance like purchase protection and extended warranty coverage when you sign up.
Infobox: What interest rates will I pay with the National Bank Syncro Mastercard?
The main selling point of this card is that it offers relatively low interest rates compared to a typical credit card. You’ll pay different interest rates based on what type of transactions you’re covering.
- Outstanding balances. You’ll pay a rate of 4% plus prime for outstanding balances, with a minimum rate of 8.90%
- Cash advances and balance transfers. You’ll owe 8% plus prime for cash advances and balance transfers, with a minimum rate of 12.90%.
The perks
- Anti-fraud protection. Protect against fraudulent purchases on your account with zero-liability insurance.
- Tap-and-go payments. Make easy payments on the go with Mastercard contactless payment.
- Extra online security. Verify your ID online to make online purchases for extra security with Mastercard ID check.
- Exclusive deals. Enjoy special upgrades and other exclusive experiences with National Bank‘s Priceless Cities program.
- Low minimum credit limit. Get a credit limit as low as $500 to manage how much money you spend on your card each month.
- No income requirements. You won’t need to make a certain amount of money each year to qualify.
- Extra cards for free. Grab up to 3 extra cards for no added fee.
What to watch out for
- Annual fee. You’ll have to pay an annual fee of $35 for this card.
- 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.
National Bank Syncro Mastercard interest rates
| Interest Type | Interest Rate |
|---|---|
| Purchase interest rate | 11.2% |
| Cash advance rate | 15.2% |
| Standard balance transfer rate | 15.2% |
What should I know before I apply?
Eligibility requirements
To apply for a National Bank Syncro Mastercard, you need to meet the following criteria:
- Be a Canadian citizen or permanent resident with the age of majority in the province of residence
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 for the National Bank Syncro 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.
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Bottom line
The National Bank Syncro Mastercard offers low interest rates and the chance to earn bonus cash back in your first year. You’ll also get a handful of benefits like purchase protection and extended warranty coverage when you sign up. The biggest downside of this card is that you won’t earn any points or cash back for making daily purchases.