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- Earn 1.5% cashback on online purchases, groceries and on gas
- Get unlimited 1% cashback on all other purchases
- Annual fee:$30
- No fees for additional cards
- Apply your cashback as soon as you accumulate $10. You can even access your cashback on the go from any tablet or mobile device!
-
Priority airport services
No
-
Airport lounge access
No
-
Concierge service
No
-
Balance protection(Optional)
No
-
Purchase Security & Extended Protection Insurance
Yes
-
Flight delay insurance,Baggage Insurance
No
-
Vehicle rental insurance
No
-
Travel accident insurance
No
-
Travel medical insurance
No
- Annual Fee: $30
- Additional Card Fee: $0
- Purchases Interest Rate: 20.99%
- Cash Advance Interest Rate: 22.49%
- You're a Canadian resident
- You've reached the age of majority in your province or territory
Purchase protection
Protect your new purchases from loss, theft or damage for up to 90 days after the date of purchase.
Extended warranty
Get up to double the manufacturer's warranty for most items purchased using your credit card.
Secure online purchases
Mastercard® ID CheckTM is a service that protects you against fraud by verifying your identity when making online purchases.
Fraud protection
Benefit from Mastercard's Zero Liability policy—you won't be liable for unauthorized transactions completed with your card.
Urban experiences
Enjoy unique experiences with Priceless Cities®. Get room upgrades, exclusive menus and many other surprises.
National Bank ECHO Cashback MasterCard Review
Overview
National Bank has a number of credit cards to choose from, including the ECHO Cashback Mastercard. As the name implies, this credit card earns up to 1.5% cash back. There is a small annual fee of $30 and other costs related to usage are in line with industry standards. Check out the details below.
Key Features and Benefits
- Earn up to 1.5% cash back
- Annual fee of $30 and standard interest rates
- Access to Mastercard Priceless Cities, a special travel experience program
- Purchase protection, fraud protection and extended warranty coverage included
Pros
- Earn 1.5% cash back on gas, grocery and online purchases, all other purchases earn 1% cash back
- National Bank is rated as one of the best banks for customer service support
Cons
- Cash back can only be used for statement credits
- No reduced fees or interest rate offers
Takeaway
National Bank’s ECHO Cashback Mastercard is ideal for individuals who use their credit card mainly for daily purchases, like grocery and gas. The low annual fee and the standard interest rates are beneficial as well. The only thing to watch out for is that cashback rewards can only be used for statement credits.Legal notes :
1 Certain conditions apply
®Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated. Authorized user: National Bank
® ECHO is a registered trademark of National Bank.
Cashback details
All eligible purchases qualify for 1% cashback when your account is in good standing. Your account is in good standing when you comply with the obligations of your cardholder agreement (e.g., making your minimum payment by the due date). The cashback will be paid as a credit applied to your account and cannot be paid in cash. An additional cashback of 0.5% is granted on the first $25,000 of eligible gas, grocery and online purchases charged annually to your credit card account. The additional cashback of 0.5% does not apply when the total of your annual eligible purchases exceeds $25,000. After that, the cashback equals 1% of eligible purchases, regardless of the type of purchase. For conditions and restrictions that apply to cashback rewards and a full list of codes associated with eligible merchants, refer to the cashback accumulation table [PDF] and the applicable rules [PDF].
Credit Terms
Grace period: No interest will be charged on purchases made during the month, provided the client pays the balance in full within twenty-one (21) days of the statement date. This grace period does not apply to cash advances or balance transfers. Minimum payment: If your account balance is lower than $10, you must pay the entire balance. If you reside in the province of Quebec, your minimum payment will correspond to 5% of the credit card account balance plus any overdue payment or $10, whichever amount is higher. If you reside outside of Quebec, your minimum payment represents 2.5% of the credit card account balance plus any overdue payment or$10, whichever amount is higher. Account statement: A statement is sent monthly.
Example of credit charges over a 30-day period
|
Annual interest rate |
Average balance |
|
|
|
$500 |
$3,000 |
|
22.49% |
$9.24 |
$55.45 |
|
20.99% |
$8.63 |
$51.76 |
|
12.90% |
$5.30 |
$31.81 |
|
8.9% |
$3.66 |
$21.95 |
*Variable interest rate in effect on September 1, 2021
Balance transfer and cash advance are subject to credit approval by National Bank. Each balance transfer must be at least $250.
Purchase protection and Extended warranty
This coverage applies to purchases charged to the National Bank ECHO cashback card. Extended warranty coverage applies to most new items purchased with the card, in Canada or abroad, as long as the manufacturer's warranty is valid in Canada. Certain conditions and restrictions apply. For more information and for details of your insurance coverage, please consult the insurance certificate associated with your card.
Author Bio
Mohamed Konate is a personal finance expert, blogger, and marketing consultant based in Toronto. He is a former financial services professional who worked at major Canadian financial institutions for many years. He managed the marketing strategy around various financial products ranging from credit cards to lines of credit. Mohamed is passionate about personal finance and holds a Bachelor's in Business Administration from the University of Quebec (Montreal) and a Master's in International Business from the University of Sherbrooke (Quebec). He is also the author of the Canadian Credit Card Guidebook.
