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.
-
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: $0
- Additional Card Fee: $0
- Purchases Interest Rate: 19.99%
- 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 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
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.
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.
