National Bank Mastercard: The 8 Best Cards

September 6, 2020
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If you’re looking for a new -or first- credit card, National Bank of Canada has eight different options you can choose from divided into four categories: Travel and reward points, cashback, no annual fee, and low-interest rate. Of course, the best option will directly depend on your needs and what you’re looking for. But we strongly recommend the NBC World Elite Mastercard. A travel card with incredible and useful benefits, a $150 annual fee, and a 22.99% interest rate on balance transfers and cash advances.

National Bank of Canada, or NBC, is one of Canada’s oldest banks still in existence. They have a history that dates back to 1859, and even when they –as a financial organization- have had ups and downs, they are still going strong.

Nowadays, National Bank is a modern organization that offers its clients a variety of financial solutions, including the many different National Bank Mastercard credit cards. With a total of eight different Mastercard credit cards to choose from, today we will take a look at each one of them and help you decide which one is the best fit for your needs!

National Bank separates its credit cards in different categories according to what they offer or what their characteristics are:

  • Travel and reward points credit cards
  • Cashback credit cards
  • No annual fee credit cards
  • Low Interest Rate National bank Mastercard

NBC Travel And Reward Points Mastercard Credit Cards

NBC offers three Mastercard credit cards that fit into this category:

  • The World Elite Mastercard
  • The World Mastercard
  • The Platinum Mastercard

Let’s take a close look at them!

The NBC World Elite Mastercard

Requirements to applyEvery individual applicant should fan a gross annual income of $80,000, or an annual household income of $150,000 and a credit and be a Canadian resident.

Annual fee$150
Interest rate22.99%
Purchase rate20.99%
Rewards rate2 points per every dollar spent
Travel insuranceYes
Additional benefitsAirport VIP access, available annual refounds, exclusive travel deals, purchase and fraud protection, and 24/7 customer service.

“Travel with peace of mind, knowing that you’re covered” is the slogan for this National Bank Mastercard. To be eligible for this credit card you’ll have to have a gross annual income of $80,000 or a combined household income of $150,000.

That being said, this credit card has a lot to offer for anyone that wants it! It does have a $150 annual fee, a purchase rate of 20.99% and an interest rate for balance transfers and cash advances of 22.99%. So no, this card doesn’t have low fees and interest rates, but that’s not the catch. The catch is the travel benefits.

You see, this card has a rewards program, and for every dollar you spend you’ll get up to 2 points. The more you spend, the more points you earn, which you can, later on, redeem for merchandise, gift cards, vacation packages, plane tickets, travel essentials and more.

As to the benefits themselves, the World Elite Mastercard gives you access to the National Bank Lounge at Montreal-Trudeau Airport, and the opportunity to get refunded up to $250 on expenses such as plane tickets and baggage fees! Not to mention, it comes with travel insurance, so you’ll be covered throughout your adventure.

Of course, this credit card also comes with purchase protection, fraud protection, and 24/7 customer service that’s always available to help you out. 

We recommend this card if you: Are a business person who constantly needs to travel, or simply happen to be traveling around a lot. It’s a great credit card packed with useful benefits for all, but especially for the frequent flier.

We do not recommend this card if you: Don’t travel often, or need a low-interest credit card instead. 

World Mastercard

Requirements to applyEvery individual applicant should fan a gross annual income of $60,000, or an annual household income of $100,000 and a credit and be a Canadian resident.

Annual fee$115
Interest rate22.99%
Purchase rate20.99%
Rewards rate2 points per every dollar spent
Travel insuranceYes
Additional benefitsTravel insurance, purchase security, fraud protection, 24/7 customer service.

“Get up to 2 points per dollar spent and travel with peace of mind.” This National Bank Mastercard is a travel card that offers you reward points for every dollar you spend, and standard rates along with useful benefits.

To be eligible for this credit card you’ll have to have either a personal annual income of $60,000 or a general household annual income of $100,000. Of course, you also have to be a Canadian resident.

The World Mastercard comes with a $115 annual fee, a purchase rate of 20.99% and an interest rate for balance transfers and cash advances of 22,99%. In comparison with the World Elite Mastercard, it does have a lower annual fee, but the interest rates stay the same in both cases.

Now, the real reason this card is a strong competitor is because of the benefits it offers. The World Mastercard also comes with a rewards program, letting you earn up to two points per every dollar you spend.

The more you spend, the more points you’ll earn and will be able to redeem for different things such as gift cards, exclusive travel discounts, vacation packages and more. You can even use them to pay your credit card balance.

Of course, the rewards program isn’t the only benefit. This is a travel card, and as such, comes with many benefits for regular travelers like: Travel insurance, exclusive travel deals, and access to unique urban experiences with Priceless Cities®.

It also comes with everyday benefits like purchase security, fraud protection, extended warranty, and around-the-clock concierge service.

We recommend this card if you: Travel often for any reason. It’s a great card with standard interest rates and extremely useful benefits you can take advantage of while abroad. 

We do not recommend this card if you: Are not a regular traveler and/or business person. This card is a travel card and it’s meant to be used to the fullest.

Platinum Mastercard

Requirements to applyBeing of legal age and a Canadian resident
Annual fee$89
Interest rate22.99%
Purchase rate20.99%
Rewards rate1 point per every dollar spent
Travel insuranceYes
Additional benefitsTravel insurance, purchase security, fraud protection, 24/7 customer service.

“All the prestige without the artifice” that’s the main slogan for the Platinum Mastercard. To apply for this National Bank Mastercard you’ll have to be a Canadian resident and the age of majority in the province where you live. There’s no minimum annual income required.

The Platinum Mastercard comes with a pretty low annual fee of $89, a purchase rate of 20.99% and an interest rate for balance transfers and cash advances of 22.99% (again, very similar to the rates of the two previous cards).

As a travel card, this National Bank Mastercard it’s also packed with benefits you can use before and during your travel! For starters, you get one point per every dollar you spend, points that you accumulate and earn as you spend and can then redeem for various exclusive offers.

By having this card, you also get access to exclusive benefits such as comprehensive travel insurance, the opportunity to enjoy unique urban experiences in the city you visit, and limited travel discounts.

Of course, you also get benefits you can enjoy during your everyday life, including purchase protection, extender warranty in products you buy with this card, fraud protection and extra security on any online payments you make.

We recommend this card if you: Are planning to travel at least one or two times a year. It is a great card regardless if you’re a regular traveler or not, but it’s best if you can make the most out of its benefits!

We do not recommend this card if you: Are rather looking for a low interest credit card, or an emergency credit card. Remember, this one is a travel credit card and should be used often enough.

As far as rewards and travel cards go, there are many highly sought after cards that’ll make you mouth water with their features and benefits. If you’re looking for the absolute best choice, read our post on the best travel cards for Canadians now, and see all the options that are only a click away.

Cashback Credit Cards

As far as cashback goes, NBC offers three different cashback Mastercards:

  • Mycredit Mastercard
  • Allure Mastercard Cashback Credit Card
  • ECHO Cashback Mastercard

The Mycredit Mastercard

Requirements to applyBeing of legal age and a Canadian resident
Annual fee$0
Interest rate22.99%
Purchase rate20.99%
CashbackUp to %1 on restaurants and pre-authorized recurring payments.
Additional benefitsPhone security, purchase and fraud protection, and extender warranty.

The Mycredit Mastercard is one of the three National Bank Mastercards that reward you with cashback. To be eligible for this card, the only requirements are that you must be a Canadian resident and be the age of majority on the province where you live.

It comes with no annual fee, a purchase rate of 20.99% and an interest rate for balance transfers and cash advances of 22.99%. But the real catch of this credit card is the cashback option.

This credit card allows you to benefit from cashback on your online subscriptions and purchases. You can get up to 1% cashback on restaurants and recurring pre-authorized payments, and up to 0.5% on all other eligible purchases. Basically for every weekly $100 that you spend on restaurants and recurring payments you’ll get $1 cashback.

Every month, your cashback will automatically be deducted from the balance on your bill, so you won’t have to do anything but enjoy this benefit!

Now the cashback option isn’t the only benefit this National Bank Mastercard offers. It also comes with purchase and fraud protection, extended warranty for any product you buy with the card, and even mobile protection against theft or damage to any phone you buy using the Mycredit Mastercard.

We recommend this card if you: Are looking to have your first credit card, build up your credit score or simply manage your daily expenses with a credit card. If so, this is the right option for you!


Allure Mastercard Cashback Credit Card

Requirements to applyBeing of legal age and a Canadian resident
Annual fee$0
Interest rate22.99%
Purchase rate20.99%
CashbackOne point per every $2 spent.
Additional benefitsGift cards discounts, purchase and fraud protection, secure online purchases and extended warranty.

The Allure Mastercard isn’t a regular cashback credit card. With this NBC Mastercard, you can help and support the Quebec Breast Cancer Foundation while also earning cashback on your daily expenses.

By becoming a cardholder, you automatically start helping this foundation! So far, National Bank has donated over 6 million dollars to the Quebec Breast Cancer Foundation, and it’s continuing to do so!

The way it works it’s pretty simple: For every $10 anyone has ever charged to their card, National Bank has donated $0.10 to support the foundation. So, by just using your card to pay for your expenses, you’re helping a great cause!

As to how does it work for you, it works as most cards do. You get one point per every $2 spent, points you can accumulate and later on receive as cashback for up to $60 per year. If you’d like to, you can redeem your accumulated points for a donation to the Foundation.

Now, the card itself comes with a $0 annual fee, a purchase rate of 20.99%, and an interest rate of 22.99% for balance transfers and cash advances. All regular rates in comparison with the previous cards.

It also comes with a handful of benefits! You get gift card discounts on stores that are partners with the Allure Mastercard, purchase and fraud protection, extended warranty and secure online purchase.

We recommend this card if you: Are a woman -or a man!- who’s looking for a cashback credit card with low-standard interest rates to use it for their daily expenses.

The ECHO Cashback Mastercard

Requirements to applyBeing of legal age and a Canadian resident
Annual fee$30
Interest rate22.99%
Purchase rate20.99%
CashbackUp to 1.5% cashback on groceries, gas and eligible purchases.
Additional benefitsExclusive urban experiences, purchase and fraud protection, secure online purchases and extended warranty.

The ECHO Cashback Mastercard is the last one of the National Bank Mastercards that reward you with cashback. To be eligible for this card the only requirements are that you must be a Canadian resident and be the age of majority on the province where you live.

It comes with an annual fee of $30, a purchase rate of 20.99% and an interest rate for balance transfers and cash advances of 22.99%. And of course, the opportunity to earn up to 1.5% on cashback on your daily expenses.

You’ll be able to earn 1% cashback on: 

  • Cell Phone and utilities
  • Restaurants and shows
  • Miscellaneous expenses

And you’ll be able to earn up to 1.50% cashback on:

  • Online purchases
  • Gas
  • Groceries

Of course, the cashback option isn’t the only benefit the ECHO National Bank Mastercard has to offer you. It also gives you access to exclusive urban experiences in the city you’re visiting, purchase and fraud protection, extended warranty and secure online purchases.

We recommend this card if you: Are looking for a credit card you can use on your day to day expenses. This is the card you want to take care of your groceries, utilities, and regular shopping.

If you’re not keen on the cashback Mastercad options National Bank offers, take a look at our review of the best cashback cards available for Canadians, you’ll love what you’ll find!

No Annual Fee National Bank Credit Cards

Mycredit Mastercard

This is the same National Bank Mastercard under the category of cashback credit cards we mentioned earlier. Not only you get up to 1% on cashback, but it comes with an annual fee of $0 and considerably low rates.

Again, we strongly recommend this credit card if you’re planning on building your credit score and using it on your day to day expenses. 

MC1 Mastercard

Requirements to applyHaving the age majority for the providence you live and being a Canadian Resident
Annual fee$0
Interest rate22.99%
Purchase rate20.99%
Cashback
Additional benefitsExclusive urban experiences, purchase and fraud protection, secure online purchases and extended warranty.

National Bank of Canada describes this credit card as “a simple credit card for all your expenses” and it’s a great way to sum it up. The MC1 Mastercard comes with no annual fee, a purchase rate of 20.99% and an interest rate for balance transfers and cash advances of 22.99%.

Although the rates are pretty similar to the cards mentioned above, the no annual fee is what catches people’s attention. Plus, all you need in order to apply for this credit card is to be a Canadian resident and have the majority of age in the province where you live.

Of course, the MC1 Mastercard comes with some standard, yet very useful benefits such as access to unique urban experiences with Priceless Cities, purchase and fraud protection, extended warranty on products you get using this card, and secure online purchases.

We recommend this card if you: Are thinking of getting your first credit card and slowly build your credit score, or need a standard credit card for regular everyday expenses.

Allure Mastercard

This is another National Bank Mastercard that we already reviewed early on, and it also falls under the category of cashback credit cards. You see, the Allure Mastercard no only allows you to accumulate points on every purchase you make, but it comes with no annual fee.

We recommend you to scroll back a little bit more again and read the benefits and characteristics of this credit card once more to see if it fits your necessities!

Didn’t find what you were looking for? Take a look at our post on the best no-fee credit cards and find the perfect one for you!

Low Interest Rate National Bank Mastercard

NBC only offers one credit card with low interest rates: the Syncro Mastercard

The Syncro Mastercard

Requirements to applyHaving the age majority for the providence you live and being a Canadian Resident
Annual fee$35
Interest rate12.90%
Purchase rate8.90%
Cashback
Additional benefitsExclusive urban experiences, purchase and fraud protection, secure online purchases and extended warranty.

The Syncro Mastercard is the only credit card with low rates in this bank, and it’s in a league of its own. It comes with an annual fee of $35, a purchase rate of 8.90% (with a prime rate of 4%), and an interest rate of 12.90% for balance transfers and cash advances.

By acquiring this card, you automatically get access to all the benefits it has to offer like purchase security, fraud protection, extended warranty, unique urban experiences in cities you decide to visit, and secure online purchases.

We truly recommend this card if you: Need a low interest rate credit card to manage your debt over time or simply need a backup card for emergencies and unexpected expenses.

If you’re looking specifically for low interest rate credit cards, we recommend you check out our blog post about them here. You’ll find lots of useful information about the best Canadian low interest rate credit cards, and we’ll help you choose the best one for you!

In Summary

In total, the National Bank offers eight different credit cards with a wide variety of benefits and characteristics designed to suit your needs, whatever they might be! If you’re looking for a specific credit card, chances are one of these will suit you.

If you’re a travel person, we strongly recommend the World Elite Mastercard. If you just want a backup credit card then the Syncro Mastercard might be the best option, and if you want a credit card for your everyday expenses -with the opportunity to get points back!- then the Mycredit Mastercard will come in handy.

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