Pros & Cons
Pros
- +Purchase protection included
- +No annual fee
Cons
- –Foreign Transaction Fee (2.5%)
Our Review
With NBC mycredit Mastercard, you get:
- 1% cash back on restaurant purchases and recurring pre-authorized debits
- 0.5% cash back on all other purchases
And since it’s a Mastercard credit card, you can use it at Costco.
Cash back is automatically applied to your credit card account balance when each monthly statement is issued.
This is a credit card we recommend for those new to credit cards and want a no-fee credit card. What’s more, this credit card comes with a number of insurances for your purchases, including mobile device insurance (which is rare for a credit card with no annual fee).
Rewards
All Spending
0.5x
Cash Back pts per dollar
Restaurants
1x
Recurring
1x
Telecom
1x
Credit Card Rewards Calculator
See how much you could earn with this card based on your spending.
Cashback earned
$192
$/yr
Estimated Value
$192
After Fees
+$192
1st Year Value
$192
incl. welcome bonus
Annual rewards breakdown
Purchase Protection
Purchase Protection
Included
Extended Warranty
+1 year(s)
Mobile Device
Up to $1,000
Interest Rates
- Purchase Rate20.99%
- Cash Advance22.49%
- Foreign Transaction Fee2.5%
Terms & Conditions
Card Features
- 1% cash back on restaurant transactions and recurring direct debits
- 0.5% cash back on other eligible purchases
- Cell phone protection: Your new mobile devices, purchased with your card or by direct debit from your macrédit account, are protected against theft or damage for up to 2 years.
Legal
Cash back details
Card issued subject to National Bank credit approval. A 1% cash back is granted on restaurant purchases and recurring pre-authorized payments when settled by recurring automatic payments to your macrédit account. The 0.5% cash back applies to all other eligible purchases during a billing cycle. The account must be in good standing when the cash back is disbursed. Your account is in good standing when you meet the obligations of your credit card agreement (e.g., making the minimum payment by the due date). Eligible pre-authorized payments are defined as payments made regularly and automatically debited by a merchant from your credit card. Balance transfers, cash advances, and fees related to card usage are not included in the cash back calculation. To learn about the terms and restrictions applicable to cash back, consult the Cash Back Program [PDF].
Mobile device protection
Subject to purchase of device with card or telephony service subscription paid by recurring pre-authorized payments from your macro-credit account.
Credit terms
Grace period: No interest will be charged on purchases made during the month, provided the client pays the balance in full within twenty-one (21) days of the statement date. This grace period does not apply to cash advances or balance transfers.
Minimum payment: If your account balance is lower than $10, you must pay the entire balance.
If you reside in the province of Quebec, your minimum payment is the greater of 5% of your account balance, plus any overdue amounts, or $10.
If you live outside Quebec, your minimum payment is 2.5% of your credit card balance, plus any past-due amount or $10, whichever is greater.
Account statement: A statement is sent monthly.
Example of credit charges over a 30-day period
| Annual interest rate | Average balance | |
| $500 | $3,000 | |
| 22.49% (regular card) | $9.24 | $55.45 |
| 20.99% (regular card) | $8.63 | $51.76 |
| 12.90% (Syncro card) | $5.30 | $31.81 |
| 8.90% (Syncro card) | $3.66 | $21.95 |
*Variable interest rate in effect on September 1, 2021.
Balance transfer and cash advance are subject to credit approval by National Bank. Each balance transfer must be at least $250.
®MASTERCARD is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated. National Bank is an authorized user.
®NATIONAL BANK and the NATIONAL BANK logo are registered trademarks of National Bank of Canada.
TM mycredit is a trademark of National Bank of Canada.
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Conditions apply. All information is believed accurate but not guaranteed. Card details, rewards, and offers are subject to change at any time. Always verify the latest terms on the issuer’s website before applying. EducFinance may receive compensation through affiliate links. This does not affect our editorial choices or card rankings. © 2026 Banque Nationale. All trademarks are property of their respective owners.