NBC mycredit Mastercard: Earn up to $135 cash back!
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Frequently Asked Questions about the National Bank mycredit Mastercard® offer
Here are frequently asked questions in the milesopedia community about this card.
How do I earn the $135 welcome bonus on the National Bank mycredit Mastercard®?
National Bank pays the $135 welcome bonus on the mycredit Mastercard® as accelerated cash back during your first months as a cardholder. You earn 5% cash back on restaurant purchases and pre-authorized recurring debits in addition to the regular ongoing rates, up to a combined total of $135 in promotional cash back. Cash back is automatically credited to your statement balance every month, so there is nothing to redeem manually. Make sure to activate the offer when you apply and route subscriptions like streaming, internet and gym memberships through the card to maximize your bonus quickly.
What are the ongoing earning rates on the mycredit Mastercard®?
After the welcome promotion ends, the National Bank mycredit Mastercard® earns 1% cash back on restaurant purchases and on pre-authorized recurring debit transactions like phone bills, streaming subscriptions and gym memberships. All other purchases earn 0.5% cash back, including spending at Costco, since the card runs on the Mastercard network. There are no spending caps and the cash back is applied automatically to your statement every month at $25 increments, so it lowers your balance directly without any redemption thresholds or expiration dates to worry about.
Does the National Bank mycredit Mastercard® include any insurance coverage?
Yes. Despite having no annual fee, the mycredit Mastercard® bundles purchase protection, extended warranty up to one additional year and, more notably, mobile device insurance worth up to $1,000 when you charge your phone or tablet to the card. That mobile coverage is rare among no-fee Canadian credit cards and can save you several hundred dollars compared to carrier insurance plans. Travel insurance is not included, however, so frequent travellers should pair the mycredit with a card that covers emergency medical, trip cancellation and rental car protection like the National Bank World Elite Mastercard®.
Who is the National Bank mycredit Mastercard® best for?
The mycredit Mastercard® is best suited for Canadians looking for a simple no-fee Mastercard with broad acceptance, including at Costco, and who want a small but predictable cash-back return on dining and recurring bills. It is a strong starter card for students, newcomers to Canada and anyone wanting to round out their wallet without paying an annual fee. Power users will likely outgrow the modest 1% and 0.5% earning rates, but the included mobile device insurance and lack of fees make it a solid backup card to keep long-term once you graduate to a premium product.