To the point
Get the National Bank Platinum Mastercard, one of the best cards with insurance. And no minimum income is required.
Milesopedia recommends this card from National Bank of Canada
National Bank Platinum Mastercard
No Welcome Offer
National Bank offers a very good entry-level product for travellers with the National Bank Platinum Mastercard.
In addition, purchase insurance is among the best on the market!
National Bank Platinum Mastercard - Card Summary
Unlike the other two National Bank’s travel rewards cards, the National Bank Platinum Mastercard does not require a minimum income.
You can earn 2 points per dollar on grocery store and restaurant purchases, and 1.5 points per dollar on gas, electric vehicle recharges, recurring bills and À la Carte Travel. And since it’s a National Bank Mastercard credit card, you can use it at Costco.
In addition, you get premium insurance usually dedicated for high-end credit cards:
- 180-day Purchase protection in the event of theft or damage
- Possibility of tripling the manufacturer’s warranty (up to 2 additional years)
- Trip Cancellation Insurance
- Trip Interruption Insurance
- Out-of-province hospital insurance
- Flight Delay Insurance
- Baggage insurance in case of delay, theft or loss
- Car rental insurance
- Mobile Device Insurance
National Bank Platinum Mastercard - Rewards
NBC points earning
With the National Bank Platinum Mastercard, you can earn up to 2 points per dollar:
| Category | Points |
| Grocery and Restaurant | 2* points per dollar |
| Gas and electric recharge | 1.5 points per dollar |
| Recurring bills | 1.5 points per dollar |
| À la carte Travel | 1.5 points per dollar |
| Other purchases | 1 per $1.50 purchase |
For the Grocery and Restaurant category, you can earn 2 points per dollar up to $1,000 in total monthly purchases charged to the card.
Once you reach $1,000 in monthly purchases, you will earn 1.5 points per dollar on the Grocery and Restaurant category. This is still very good compared to other cards that only offer 1 point per dollar after the threshold is reached.
How to use your NBC points?
To use your NBC Rewards points, you must log in to the National Bank’s À la carte Rewards portal.
Then, you can use your points to book a trip (+ monetary complement if required) through the agency “Voyage À la Carte”. The rates are the same to those you will find at any travel agency.
In addition, you can also earn NBC Rewards points through this agency. By doing so, it will be the best use of points at a rate of 10,000 points per $100 of statement credit.
It is also possible to use your NBC Rewards points as a statement credit for all travel expenses charged to your credit card (redemption must be made within 60 days after the expense is charged to the credit card account).
Thus, you have the freedom to book as you wish, for example with Airbnb, organized tours, excursions, etc.
The exchange rate for this type of use is
- 12,000 points for a $100 credit or
- 11,000 points for a $100 credit when redeeming over 55,000 points in the same transaction
With the National Bank Platinum Mastercard, you can use your points for a variety of rewards such as travel discounts like an apartment rental on Airbnb, or SAQ gift cards.
The best use of points will be to book your trip through the NBC À la Carte Plan travel agency: you get a $100 credit for every 10,000 points redeemed.
| Rewards | Points for $100 |
| A La Carte Travel Agency Redemptions | 10 000 |
| Flexible travel rebates (from 55,000 points redeemed) |
11 000 |
| Flexible travel rebates | 12 000 |
| Extras À La Carte RRSP or TFSA contribution Reimbursement of your all-in-one line of credit or mortgage loan |
12 000 |
| Gift-card | 12 000 – 13 500 |
| Statement credit | 25 000 |
National Bank Platinum Mastercard - Insurance
The National Bank Platinum Mastercard stands out when compared to other cards of the same type.
You can find the insurance contract here.
Travel Medical Insurance (outside province of residence)
The National Bank Platinum Mastercard offers $5,000,000 in emergency travel medical coverage.
| Age | Maximum trip time frame |
| 76 years or less | 10 days |
Trip Cancellation / Trip Interruption Insurance
The National Bank Platinum Mastercard is one of the only credit cards in Canada that covers you for most of its insurance, even if you only carry a portion of the cost of the trip.
The following expenses will be reimbursed (…) provided that a portion or the entire cost of the trip was charged to the account
Banque Nationale du Canada
| Insurance | Coverage |
| Trip cancellation (before departure) | up to $1,000 per insured person |
| Trip interruption (after departure) | up to $1,500 per insured person |
The main differences in coverage with the National Bank Platinum Mastercard are the duration of the trip and the amounts eligible for cancellation/interruption.
When we analyze this data, we can see that this card is perfect for people who like to make several short trips.
For a family of 3, the price for equivalent travel insurance for a week in an all-inclusive package can climb to over $200!
Insurance in case of theft or loss of luggage
The National Bank Platinum Mastercard covers you if at least a portion of the cost of the trip has been charged to the account.
| Insurance | Coverage |
| Lost or Stolen Baggage Insurance | up to $1,000 per person |
Flight delay insurance
The National Bank Platinum Mastercard covers you if at least a portion of the cost of the trip has been charged to the account.
| Insurance | Coverage |
| Flight delay of more than 4 hours | $250 per day (maximum of $500 per insured person) |
Insurance in case of baggage delay
The National Bank Platinum Mastercard covers you if the full cost of travel on a common carrier has been charged to your account.
| Insurance | Coverage |
| Baggage insurance in case of delay | up to $500 per person (more than 6 hours) |
Car Rental Insurance
The National Bank Platinum Mastercard covers you if you use your card (or NBC Rewards points) to pay for the entire vehicle rental.
Similarly, personal belongings in the vehicle are protected.
| Insurance | Coverage |
| Vehicle rental (48 days or less) | Vehicle valued at up to $65,000 |
Insurance for your purchases
The National Bank Platinum Mastercard is one of the only credit cards in Canada to offer 180-day purchase protection (6 months from the date of purchase). Other credit cards offer only 90 days (3 months).
In addition, the National Bank Platinum Mastercard is one of the only credit cards in Canada to triple the coverage period for new items covered by an original manufacturer’s warranty valid in Canada.
| Insurance | Coverage |
| Against theft or breakage for 180 days | up to $60,000 |
| Get up to triple the manufacturer’s warranty | up to 2 additional years |
Bottom line
The National Bank Platinum Mastercard is a great card to have, especially if you don’t qualify for National Bank’s premium cards.
In fact, the insurance offered for short trips is very good and the purchase insurance is identical to its big sister, the National Bank’s World Elite Mastercard®.
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