National Bank of Canada is offering a limited time increased welcome bonus offer on their no fee cash back mycredit Mastercard. In fact, this welcome bonus is the highest percentage wise of any no fee card in the market right now. That bonus is 8% cash back on restaurant and delivery purchases as well as 8% back on recurring pre-authorized payments.
You can earn the 8% cash back for the first three months of having the card up to a maximum of $1,500 in purchases in those categories. That equates to up to $120 cash back which is pretty decent for a no fee cash back card. Once those three months are up the spending in those categories reverts to the card’s standard 1% cash back on purchases in those categories. All other spending on the card earns a 0.5% cash back rate.
The card has a small insurance package that includes Mobile Device Protection, Purchase Protection and Extended Warranty. It is rare to see Mobile Device Protection on no fee cards so this is one bonus that this card has over some of its competition.
It’s nice to see this big of welcome bonus on a no fee cash back card and is definitely the right fit for someone just starting out with credit or wanting to dip their toes into cash back rewards. The 0.5% earn rate on most purchases is on the low to average end for no fee cash back cards but that can be expected on an entry level card. If you are looking for bigger rewards there are definitely other cards out there that will earn you more cash back if you have a higher income, great credit and are open to paying an annual fee.