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Mr. Loonie
National Bank mycredit Mastercard

National Bank mycredit Mastercard

7.1
Good
Expert Score · 3 reviews How we score

Best for: People who want cash back on dining and bills with no annual fee

Your spending a month
What’s in each?
Light:
Groceries $400, restaurants $100, gas $100, recurring bills $100, everything else (base rate) $250, foreign currency $50
Typical:
Groceries $800, restaurants $250, gas $250, recurring bills $250, travel $150, everything else (base rate) $650, foreign currency $150
Big:
Groceries $1,200, restaurants $500, gas $400, recurring bills $400, travel $500, everything else (base rate) $1,600, foreign currency $400
Yours:
Your own amounts, saved on this device only
Every year
$195

Ranked #120 of 176 for year one. See the list

See how we worked it out
Annual fee
None
Apply now on National Bank’s site (opens in a new tab)
We may get paid if you apply through this link. It never changes our score.

Have this card?

Details from National Bank’s site. Banks can update terms at any time, so give them a quick look before you apply. Source

What you’d earn Can I get it? Fees Similar cards
From the numbers

The good and the bad

Stands out

  • Good: 1% back on restaurants and recurring bills
  • Good: No annual fee It costs nothing to keep.

Watch for

  • Watch for: Everything else earns 0.5% back That’s low for everyday spending.
  • Watch for: 2.5% on foreign purchases Use a no foreign fee card when you travel.

Worked out from the card’s rates and fees.

Show your work

What you’d earn

With typical spending of $2,500 a month.

  • Groceries $48
    0.5% back $800 a month · $48 a year
  • Restaurants $30
    1% back $250 a month · $30 a year
  • Gas $15
    0.5% back $250 a month · $15 a year
  • Recurring bills $30
    1% back $250 a month · $30 a year
  • Travel $9
    0.5% back $150 a month · $9 a year
  • Everything else $39
    0.5% back $650 a month · $39 a year
  • Foreign currency $9
    0.5% back $150 a month · $9 a year
For you Year one Later years
Cash back you earn $180 $180
Annual fee $0 $0
Foreign currency fee2.5% on $1,800 a year −$45 −$45
Phone insurance$60 a year $60 $60
Total $195 $195

Rows are rounded to the dollar. Insurance counts at what the same cover costs on its own, and only pays when you charge the trip, rental or phone to the card.

What counts in each category
Restaurants
1% back
Recurring bills
1% back Recurring pre-authorized payments
Everything else (base rate)
0.5% back

These are example budgets to compare cards side by side, not averages. Your own spending will give a different number.

Checked on Nov 8, 2026. Source

Before you apply

Can I get it?

  • Age 18 or older 19 or older in BC, NB, NL, NS and the territories
  • Where you live Canada
  • Credit score No minimum on record Most banks don’t publish one, and we don’t guess.

Mr. Loonie’s tip Each application shows up on your credit file. Leave a few months between card applications.

What critics say

Other reviewers on this card

7.1
Good
Expert Score How we score
  • Finder (opens in a new tab) Oct 2022

    “The National Bank mycredit Mastercard is a no-frills cash back card that gives you the following: Earn 1% cash back on every $1 spent in restaurants and on recurring pre-authorized payments, and 0.5% cash back on other eligible purchases.. It also comes with a generous welcome bonus and other perks like purchase protection and mobile device insurance when you sign up.”

  • MoneyGenius (opens in a new tab) Jan 2021
    6.2

    “The National Bank mycredit Mastercard is about as straight-forward as you can get while still earning a decent earn rate on your purchases. Its main draw is the simple cash back you earn, which is deposited into your account every month. You'll also get protection for your cell phone included in the price, which is a rare treat in Canada. But it doesn't offer much else – not even a welcome bonus.”

  • creditcardGenius (opens in a new tab) Feb 2019
    6.6

    “There are plenty of reasons for adding a no fee card to your wallet. Whether you don't spend enough to justify an annual fee, or just want a no fee card to pair with a more premium card if you're looking for a no fee cash back card, the National Bank mycredit Mastercard is a good place to start. One area where this card really stands out is that you're not forced to wait around for a whole year to get your cash back rewards. Instead, it's automatically applied as a statement credit every billing cycle.”

What cardholders say

Ratings from people with this card

No ratings yet. If you have this card, tell others what it’s like.

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Insurance and perks

What comes with it

  • Extended warranty Included
  • Purchase protection Included
  • Mobile device $1,000 per device
  • Mobile devices insurance
Coverage limits

We haven’t recorded the coverage limits for this card yet. Read National Bank’s insurance certificate before you count on any coverage.

Not included

Not listed for this card: travel medical, trip cancellation, trip interruption, flight delay, lost baggage and car rental damage.

Fees and interest

What it costs

Annual fee
None
Purchase interest
20.99%
Cash advance interest
22.49%
Foreign currency fee
2.5%
All fees and rates

Fees

Extra cards
None
Cash advance fee
$3.50, $5.00 fee for cash advances outside of Canada.
Balance transfer fee
1%, If transfer is requested when credit card account is opened, otherwise 3%.
Over-limit fee
None
Late payment fee
None
Source
Issuer page

Interest rates

Balance transfer interest
22.49%
Source
Issuer page

Read the card terms and conditions for the full terms.

Checked on Nov 8, 2026. Source

Before you decide

Similar cards for the same spending

With typical spending. This card: $195 year one, $195 every year after.

See all cards ranked for your spending

Some of these links pay us when you apply, at no extra cost to you. Most don’t, and pay never changes our score. How we make money

Common questions

Questions people ask

What is the annual fee on the National Bank mycredit Mastercard?

There is no annual fee.

Does it charge a foreign transaction fee?

Yes, 2.5% on purchases in other currencies.

What is the interest rate?

20.99% on purchases. Cash advances are 22.49%.

Does it include insurance?

It lists extended warranty, purchase protection and mobile devices insurance. Read the insurance certificate for the limits.

Rates, fees and offers come from the card issuers and change often. We work to keep this page accurate and current, but it may contain mistakes, so always check the issuer’s terms before you apply. This page is general information and isn’t financial advice.

Spot something wrong? We’ll check it with the bank. Suggest a correction

Card names, logos and trademarks belong to their owners. No issuer wrote, paid for or approved what we say about this card. Our scores and opinions are our own.

Mr. Loonie is independent and supported by affiliate links. We may earn a commission when you apply through some links, at no cost to you. How we make money

$195
a year for you
Apply now on National Bank’s site (opens in a new tab)
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