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National Bank MC1 Mastercard®
Credit cards

National Bank MC1 Mastercard®

Updated 29.11.2022

About National Bank MC1 Mastercard

National Bank MC1 Mastercard is a no-fee card with basic credit card functionality and regular interest rates. For clients who don’t use credit cards often, National Bank MC1 Mastercard may be an optimal credit solution.

National Bank MC1 Mastercard features

A National Bank MC1 Mastercard credit card features a 20.99% interest rate on purchases and 22.49% — on balance transfers and cash advances. There is no annual fee for this card, and you can issue additional cards free of charge.

The minimum credit limit with a National Bank MC1 Mastercard credit card is $500.

National Bank MC1 Mastercard provides just the basic credit card features, with no cash back or reward-earning opportunities.

Just like all other Mastercard credit cards from the National bank of Canada, an MC1 Mastercard credit card supports contactless payment available through the Tap & Go® technology. 

According to the NBC website, MC1 Mastercard cardholders have access to Priceless Cities® from Mastercard. With this benefit, you can explore the neighborhood in the cities you live and travel to, get room upgrades, and try exclusive menus.

An MC1 Mastercard credit card has the following insurance coverages included:

  • Purchase protection providing 90-day coverage for purchases charged to your credit card account against theft or damage

  • Extended warranty increasing the original manufacturer’s warranty by up to one additional year

Pros and cons

Let’s outline the major benefits of a National Bank MC1 Mastercard credit card:

  • A zero annual fee

  • Free issuance of additional cards

  • Affordable minimum credit card limit

  • No minimum annual income requirements to apply

  • 24/7 customer service

  • Contactless payment supported

  • Zero liability protection from Mastercard

  • Protection against fraud with Mastercard® ID CheckTM 

The drawbacks of a National Bank MC1 Mastercard credit card are:

  • The lack of welcome offers for new applicants

  • The lack of partner benefits 

  • The lack of cash back or reward-earning opportunities

  • Few insurance coverages included

How to apply for a National Bank MC1 Mastercard credit card

You can apply for a National Bank MC1 Mastercard credit card online by clicking the “Apply now” button on the credit card description page. If you are a National Bank of Canada client already, sign in using your login credentials to fill out a shorter version of a credit card application. If not, proceed with an extended application form and provide the following information:

  • Your first name

  • Your last name

  • Your date of birth

  • Your email

  • Your social insurance number (optional)

  • Your phone number

  • Your address

  • How long you have lived there

  • Your occupation 

  • Your employee status

  • Your position

  • The name of your employer

  • Work phone number

  • Month and year since you work there

  • Your gross annual income

  • Whether you want to add a credit card payment insurance plan

After that, review your information, agree to the terms and conditions, and proceed with identity verification. To verify your identity, you will need to upload a picture of your government-issued photo ID and take a selfie. 

In the next step, you will be able to order additional cards if needed.

To apply for a National Bank MC1 Mastercard credit card, you must be a Canadian resident at the age of majority in your province or territory. There are no minimum annual income requirements to apply for this credit card.

Can I go over the $500 credit limit with my National Bank MC1 Mastercard credit card?

If you exceed a $500 credit limit, the National Bank of Canada may refuse the transaction over your approved limit. The bank can approve a transaction as well, although this won’t mean an increase in your credit limit.

When you exceed your approved credit limit, over-limit fees may apply.

How do I get a cash advance with my National Bank MC1 Mastercard credit card?

The National Bank of Canada offers several ways to get a cash advance:

  • At a National Bank of Canada ATM

  • At an ATM of another financial institution

  • Through online banking

  • At a National Bank of Canada branch

  • With cheques drawn from your credit card account

  • By making gaming-related transactions (such as betting and casino chips)

  • By using overdraft protection on any type of account held with the National Bank of Canada

  • By transferring funds from your account in any other authorized manner

How do I make an insurance claim?If you are in Canada or the U.S., call the National Bank of Canada at 1‑888‑235‑2645 to make an insurance claim. If you are in other countries, call the National Bank of Canada at 514‑286‑8345.
Rate
i

Effective interest rate on the product

20.99% - 22.99%

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