Here is our review on a no-fee cash back credit card: the National Bank Mycredit Mastercard.
There is no annual fee for the NBC mycredit Mastercard. Also, there is no fee for additional cards.
Earn cash back
With the NBC mycredit Mastercard you earn:
- 1% cash back on restaurant purchases and recurring pre-authorized payments
- 0.5% cash back on all other purchases, including at Costco
Enjoying your cash back
National Bank mycredit Mastercard Insurance
Purchase insurance and mobile devices
Mobile devices insurance, a complimentary benefit of the NBC mycredit Mastercard, includes two types of protection:
Purchase insurance and extended warranty
This insurance covers you in the event of theft or damages and offers an extended warranty on new items paid for with your card.
Repair or replacement of mobile devices
In case of breakage, loss or theft.
To be covered, the mobile device has to be:
- purchased with your card
- financed by a plan of which all the monthly payments are paid for with your card or by pre-authorized payments from your mycredit account
If your covered mobile device is broken, lost or stolen, the Covered Amount will be equal to the least of the following amounts:
- the replacement cost of the mobile device
- the repair cost charged to the mobile device; and
- the depreciated value
The maximum amount of coverage is $1,000 for mobile devices.
Purchase Insurance for Other Eligible Purchases
The purchase insurance (except for mobile devices), a complimentary benefit of the NBC mycredit Mastercard, includes two types of protection:
Purchase insurance (excluding mobile devices)
The NBC mycredit Mastercard‘s Purchase Insurance protects new items against theft or breakage for 90 days following purchase.
Warranty extension (excluding mobile devices)
Avoid paying for the optional extended warranty on your next purchase by using your NBC credit card. This is particularly useful for household appliances.
This insurance double the manufacturer’s warranty for most items purchased using your credit card in Canada. The warranty can be extended up to a maximum of 1 year after the end of the original manufacturer’s warranty.
Maximum compensation (excluding mobile devices)
The compensation is limited to the purchase price charged to the account. The Insurer will pay a Purchase and Extended Warranty Insurance benefit of up to $60,000 for the entire term of the account.
It is a credit card to keep to benefit from purchase insurance, especially for its mobile device insurance.