National Bank mycredit Mastercard®
Not yet rated
Cash back
Card highlights
Annual fee
Number of perks & insurances
Ratehub’s review
Natasha Macmillan
This no-fee cash back card has a few notable perks and benefits, including unlimited cash back rates and mobile device protection. However, the cash back earnings are low compared to other cards. Newcomers can qualify for this card under National Bank’s newcomer banking program.
Pros
- Unlimited cash back: The 1% and 0.5% cash back rates don’t have monthly or annual limits
- Cash back redemptions are automatic: Unlike with some other cards, you don’t have to wait until once a month or even once a year to redeem your cash back rewards. They are applied to your card balance automatically
- Newcomers can qualify for the card: You don’t need to have a Canadian credit history to qualify for the newcomer program and sign up for the mycredit card, however there may be other requirements
Cons
- Low regular earn rate: The 0.5% cash back rate on everything other than restaurants and groceries is quite low
- Few perks: Other than credit card mobile device insurance and other standard coverages like purchase assurance, the card is lacking in valuable perks like rental car or trip insurance
Rewards & bonuses
See what you could earn based on how you spend.
Earn rates
1%
On on eligible restaurant purchases and recurring bill payments*
0.5%
On on all other eligible purchases*
Monthly spending caps apply where shown. Rewards are earned on eligible purchases only, see the card’s terms for full details.
Your earning potential
First year reward
Based on spending $2,200/mo after $0 annual fee
Second year reward
Based on spending $2,200/mo after $0 annual fee
These numbers are based on estimations and the calculation breakdown below.
Adjust your spending
First year reward†
- If you spend $2,200/month, you’ll earn
- Annual fee
- First year reward
Second year reward†
- If you spend $2,200/month, you’ll earn
- Annual fee
- Second year reward
† Estimate calculated by Ratehub.ca and is based on current offers and a monthly spend of $2,200. It is for illustrative purposes only.
Perks & insurance
Perks and insurance coverage included with the card.
| Perks | Details | |
|---|---|---|
| Lounge access | Not included | You’ll gain complimentary passes to airport lounges. The number of passes and lounges you have access to will vary. |
| No foreign exchange fees | Not included | A surcharge that credit card holders pay for purchases made in a foreign currency (typically 2.5%). |
| Extended warranty | Not included | Either doubles the length of the item’s manufacturer’s warranty coverage or extends it by 1 year, whichever is less. |
| Price protection | Not included | If, within a certain amount of time of purchasing an item, its price drops or you find an identical item offered for a lower retail price than what you paid, you will be reimbursed for the difference. |
| Insurance | Details | |
|---|---|---|
| Travel accident insurance | Not included | If you suffer a loss as a result of an accidental bodily injury sustained while occupying a common carrier, you are eligible for this coverage. |
| Travel emergency medical | Not included | If you require urgent medical care while on a trip outside of your home province, you will be covered for any eligible medical expenses incurred. |
| Car rental insurance | Not included | Credit card rental car insurance usually covers theft, loss and damage to your rental car in the case of an accidental collision. |
| Trip cancellation | Not included | If you have to cancel your trip before it’s even started, your prepaid travel costs will be covered up to a maximum amount if the cause of cancellation is eligible for the insurance. |
| Trip interruption | Not included | If your trip has to be cut short or is delayed after the scheduled departure date, you will be covered up to a maximum amount for an eligible cause of interruption or delay. |
| Flight delay insurance | Not included | If your flight departure is delayed by a certain number of hours, you’ll be reimbursed a certain amount for necessary and reasonable expenses. |
| Baggage loss insurance | Not included | If your checked bag cannot be located by a common carrier, you’ll be reimbursed for a portion of the replacement cost of lost personal property. |
| Baggage delay insurance | Not included | If your checked bag is not delivered within a specified time upon your arrival, you’ll be reimbursed for the cost to replace essential items. |
| Hotel/motel burglary | Not included | Provides protection, while you’re checked in, for your personal belongings when left unattended in your room up to a certain dollar amount. |
| Mobile insurance | Included | Reimburses a portion of your cell phone in the event it’s damaged or lost. Device coverage is limited to a certain period of time after purchasing with your credit card. |
| Purchase assurance | Included | Automatically protects new purchases by insuring them for 90 days from the date of purchase in the event of loss, theft or damage. |
Details & eligibility
Fees
- Annual fee
- $0
Rates
- Purchase interest
- 20.99%
- Balance transfer rate
- 22.49%
- Cash advance rate
- 22.49%
Type
- Provider
- National Bank of Canada
- Card type
- Cash back
- Payment network
- Mastercard
Eligibility
- Minimum personal income
- N/A
- Minimum household income
- N/A
- Minimum credit score
- 660+