Mycredit Mastercard® credit card review
Learn how to get cashback and many more benefits in one place in this Mycredit Mastercard® credit card review post.
by Aline Augusto
Mycredit Mastercard® credit card: unlimited rewards with no annual fee.
National Bank features many financial products and services and is known for its outstanding customer experience. For the second time in a row, National Bank has achieved first place in Customer Experience among many other card issuers on the 2021 Forrester CX Index. So, today we are going to talk about one of its cash back credit cards and a top of the line product. So keep reading to learn everything in our Mycredit Mastercard® credit card review.
See below for its main perks and features.
|Credit Score||760 – 900|
|Regular APR||20.99% on purchases;|
22.49% on cash advances and balance transfers
|Rewards||1% cash back on purchases at restaurants and recurring pre-authorized payments;|
0.5% on everything else
How does the Mycredit Mastercard® credit card work?
Mycredit Mastercard card offers many benefits to its cardholders. So, if you enjoy dining or have recurring and pre-authorized payments, this credit card might be worth considering.
It allows you to earn unlimited 1% cashback when purchasing at restaurants and on recurring payments. And you earn 0.5% cashback on everything else.
Also, this Mastercard is a fantastic choice for those who don’t want to spend money on monthly or annual service fees for both primary and additional cards.
Moreover, the card provides you with a complete package of security features, including free mobile protection.
Besides that, Mycredit offers a Contactless Payments option, an Extended Warranty, Fraud & Purchase protection, and the Mastercard ID Check that secures your online purchases against fraud.
The minimum credit limit is $500, and the APR ranges from 20.99% on purchases to 22.49% on cash advances and balance transfers.
Mycredit Mastercard® credit card benefits
Among the many quality products at National Bank, Mycredit Mastercard stands out. First because the card mixes a reasonable rate of rewards with no annual fee. Also, this Mastercard comes with a great package of security features, including insurance against damage or theft for up to two years from your mobile device purchase.
Moreover, this credit card is a fantastic option for those who spend money on dining and recurring bills and allows you to get up to 1% cash back on those purchases. The base rewards rate on everything else is 0.5%.
Check out the following list of pros and cons before considering applying for Mycredit Mastercard.
- The card offers a suitable package of security features, including mobile device insurance;
- The rewards program is simple;
- You earn up to unlimited 1% cashback on dining, recurring purchases, and 0.5% on everything else;
- The cashback is automatically deducted from the balance on your bill every month;
- It doesn’t have an annual fee for both primary and additional cards;
- National Bank offers an outstanding customer experience.
- The APR is quite high;
- It lacks insurance benefits like travel coverage;
- It lacks a welcome bonus.
How good does your credit score need to be?
Canadian residents who have reached the provinciall age of majority need a credit score between 760 and 900 to become eligible for this card. However, National Bank uses other criteria besides creditworthiness for approval. So customers with inferior scores are welcome to apply.
How to apply for a Mycredit Mastercard® credit card?
Learn how to apply for a Mycredit Mastercard® credit card and enjoy the peace of mind of knowing you will be well attended to and covered. To learn about the application process, follow the link below.
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