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National Bank Platinum Mastercard: A credit card with no minimum income required!

To the point Get the National Bank Platinum Mastercard, a credit card with no minimum income requirement.

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!

Welcome offer

Unlike the other two travel rewards cards, the National Bank Platinum Mastercard does not require a minimum income.

With this exclusive welcome offer for Milesopedia readers, you can earn 35,000 points after $3,000 in purchases and the first year annual fee is waived for the primary and first additional cardholder.

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.

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

This promotion is intended for individuals who do not have a National Bank Mastercard credit card and have not held a National Bank credit card within the last 24 months.

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.

NBC Points All inclusive
NBC Points All inclusive

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
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Other products

You can also shop for a product in the catalogue offered by NBC À la carte. However, this is not an optimal use of points.

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
À la carte Rewards Plan

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

Conclusion

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®.

Come to discuss that topic in our Facebook Group!
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