National Bank MC1 MasterCard® Review
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Recommended Credit Score:
670 900
Average to Excellent
$0
Welcome Bonus Value
$0
Annual Fee
19.99%
Purchase Interest Rate
NA
Min Personal Required
National Bank MC1 MasterCard®
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My Rate Compass Rating: star star star_half star_outline star_outline (2.9)
Bank Name:National Bank
Network Type:Mastercard
National Bank MC1 MasterCard®
Welcome Bonus
Annual Fee
$0
National Bank MC1 MasterCard®
Card Details

The National Bank MC1 Mastercard credit card is a payment solution for all your expenses.

  • Enjoy a simple, efficient and practical payment solution
  • Access funds anywhere in the world
  • Control your spending by setting your credit limit to $500
  • Protect your purchases with an insurance program you can count on: Protect yourself against unauthorized purchases thanks to the Mastercard Zero Liability program.
Insurance
  • 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
  • Vehicule rental insurance No
  • Travel accident insurance No
  • Travel medical insurance No
Fees and Eligibility
Fees
  • Annual Fee: $0
  • Additional Card Fee: $0
  • Purchases Interest Rate: 19.99%
  • Cash Advance Interest Rate: 22.49%
Eligibility
  • You're a Canadian resident
  • You've reached the age of majority in your province or territory
Recommended Credit Score:
670 900
Average to Excellent
Our Rating
My Rate Compass Rating: star star star_half star_outline star_outline (2.9)
Rating Methodology: My Rate Compass's ratings are determined by our editorial team. Our editors rate credit cards objectively based on the benefits and features the credit card offers, interest rates, the fees, and how a credit card compares with other cards in its category. Credit card rating methodology
Editorial Guidelines: Learn more about our editorial guidelines here.
Pros and Cons

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.

Editor's Review

National Bank MC1 Mastercard Review

Overview

The MC1 Mastercard is designed for individuals who want a simple credit card to pay their bills. There aren’t any special programs or offers associated with this credit card, but the annual fee is $0. Check out the other features below.

Key Features and Benefits

  • No annual fee and standard interest rates
  • Purchase protection, fraud protection and extended warranty coverage included
  • Access to Mastercard Priceless Cities, a special travel experience program

Pros

  • No annual fee
  • National Bank is rated as one of the best banks for customer service support

Cons

  • No special rewards programs or offers, this is a basic or starter credit card

Takeaway

If you’re looking for a simple credit card with no frill or special features, this is the credit card for you. It a great option for student or anyone looking into building or establishing their credit history.
Credit card users who are interested in rewards programs or other special perks should consider other options.


Legal notes :

® MC1 is a registered trademark of Mastercard International Incorporated. Authorized user: National Bank.

®Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated. Authorized user: National Bank

TM National Bank of Canada received the highest CX Index™ score among credit card issuers in Canada in Forrester’s proprietary 2020-2021 CX Index™ survey (valid until September 2021). The ranking was based on responses from 9,004 measuring 12 brands. The proprietary survey results are based on consumers’ opinions of the experiences with the brands in the survey. Forrester Research does not endorse any company included in any CX Index™ report and does not advise any person to select the products or services of any particular company based on the ratings included in such reports.

TM CX Index and Forrester are trademarks of Forrester Research inc.

1. 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.

Examples of credit charges

Example of credit charges over a 30-day period:

 
 

Annual interest rate

Average balance

 

$500

$3,000

22.99%

$9.45

$56.69

20.99%

$8.63

$51.76

14.5%

$5.96

$35.75

8.9%

$3.66

$21.95

 

*Variable interest rate in effect on July 1, 2019.

2. Balance transfer and cash advance are subject to credit approval by National Bank. Each balance transfer must be at least $250.

3.  This coverage applies to purchases charged to the National Bank MC1 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.

4.Certain conditions apply. Visit mastercard.ca for more information. Refer to the credit card terms and conditions.

5. Subject to credit approval by National Bank.

® Mastercard, is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated. Authorized user: National Bank

® MC1 is a registered trademark of Mastercard International Incorporated. Authorized user: National Bank.

® Tap & Go and Priceless cities are registered trademarks, and the circles design is a trademark of Mastercard International Incorporated. Authorized user: National Bank.

TM ID Check and Identity Check are trademarks of Mastercard International Inc. Authorized user: National Bank.

Author Bio

User
Mohamed Konate

Mohamed Konate is a personal finance expert, blogger, and marketing consultant based out of Toronto. He is a former financial services professional who worked for many years at major Canadian financial institutions where 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 in Business Administration from the University of Quebec (Montreal) and a Master in International Business from the University of Sherbrooke (Quebec).He is also the author of the Canadian Credit Card Guidebook.

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