Who this card is for
A good fit if you…
- National Bank customers who eat out and pay rent-adjacent bills by pre-authorized Mastercard, want 1% on those two lines at $0, and will pay in full.
- People who shop Costco and wanted a no-fee National Bank cash-back card without ECHO’s $30-class membership.
- Applicants who will use mobile-device insurance if they actually break a phone, and who do not need À la carte travel points.
- Anyone building a National Bank file who wanted some cash back rather than MC1’s zero earn table.
Skip it if you…
- Households whose month is grocery and gas. ECHO currently lists up to 1.5% on those buckets (after $30); Tangerine currently lists 2% categories at $0.
- People who will carry a balance. mycredit’s purchase rate currently matches MC1’s typical rewards figure, not Syncro’s 8.90%.
- Anyone chasing a welcome bonus. None is currently listed.
- Travellers who wanted Platinum’s 2x grocery/dining. That is a $70-class À la carte product, not mycredit.
Pros and cons
Pros
- No annual fee, with extra cards currently at $0.
- 1% on restaurants and PAPs is a clearer printed mix than Allure’s 1-per-$2 points, and cash back currently posts to the account monthly when conditions are met — no $25 ECHO floor on this card.
- Features currently name Costco acceptance and mobile-device insurance.
- 0.5% on other eligible purchases is at least something, unlike MC1’s N/A rewards.
- You can step to ECHO or Platinum later if grocery or travel starts to matter. mycredit is the cash-back on-ramp.
Cons
- 0.5% on everything outside restaurants and PAPs is a weak catch-all. Grocery and gas are not the bonus buckets on this card.
- No welcome bonus, eligibility terms, or insurance details are currently listed, even though features mention mobile-device insurance. Confirm the certificate.
- The Cash Back category is honest; the earn mix is still thinner than Simplii or Tangerine on our site.
- National Bank’s footprint is strongest in Quebec.
Fees and value: is the annual fee worth it?
First-year snapshot (estimate)
- Annual fee
- $0
- Estimated welcome bonus value
- Not listed
- Bonus minus fee (estimate)
- —
This is a simple comparison of the estimated welcome-bonus value against the annual fee. It ignores rewards on spending, credits you have to remember to use, and interest if you carry a balance. Offers change — verify with the issuer.
This is a $0-fee card, with extra cards at $0. There is no welcome-bonus value, so the first-year snapshot will look empty.
Value is 1% on restaurants and PAPs plus 0.5% on the rest, plus mobile-device insurance you would have used. If two Tangerine categories cover the month at $0, Tangerine wins.
If grocery/gas/online are large, ECHO’s $30-class fee can still win on the ceiling. If you needed plastic with no earn mix, MC1 is simpler.
There is no first-year rebate to hide a weak fit. Offers change.
Pay in full.
Rewards and earn rates explained
Rewards program: Cash Back
This card pays cash back, not À la carte Rewards. The current features describe 1% cash back on restaurants and recurring pre-authorized payments, 0.5% on other eligible purchases, mobile-device insurance, and Costco acceptance.
Detailed features currently add that cash back is applied to the account balance with each monthly statement when conditions are met. Confirm National Bank’s live mycredit rate card for what “restaurant” and “PAP” mean.
Redeem to the account. Put dining and bills here.
Put grocery on ECHO or Tangerine. Put a revolving balance on Syncro.
Welcome bonus: how to unlock it
No welcome bonus is currently listed for this card.
This card currently lists no welcome bonus, detailed offer, dollar value, or eligibility text. Treat that as “none on file.” If National Bank is running a cash offer on the mycredit application page, use that page. Mobile-device insurance is an ongoing benefit, not a signup bonus.
FAQ
Is the National Bank mycredit Mastercard worth it in 2026?
It is worth it when restaurants and PAPs are a real share of the month, you want $0 National Bank cash back, and you pay in full. It is not worth it as a grocery card, a low-rate card, or a 2% Tangerine substitute.
mycredit vs ECHO vs MC1?
mycredit vs Tangerine Money-Back?
Tangerine lets you pick 2% categories at $0. mycredit currently locks 1% to restaurants and PAPs. Choose Tangerine if you can get approved and want control. Choose mycredit if National Bank and the monthly statement credit are the point.
Does mycredit work at Costco?
Features currently say it is accepted at Costco. Warehouse spend will typically land in the 0.5% bucket unless National Bank’s live rules say otherwise — Costco is not a restaurant.
Does this card charge foreign-exchange fees?
Most Canadian no-fee Mastercards add a conversion fee on foreign-currency purchases. mycredit is a domestic cash-back card, not a no-FX travel card. Confirm National Bank’s current FX rate in the agreement.
Compare related cards and guides
More Canadian credit card lists that match this product, plus a few cards people usually compare it with.
- National Bank ECHO Cashback Mastercard review · National Bank · $30 annual fee
- National Bank MC1 Mastercard review · National Bank · $0 annual fee
- Tangerine Money-Back Credit Card review · Tangerine · $0 annual fee
