National Bank of CanadaMastercardBest for: Newcomers to Canada

National Bank mycredit Mastercard®

$100 cash back welcome bonus for newcomers to Canada
Mobile device protection up to $1,000 — rare on any no-fee card
No annual fee and no minimum income requirement
1% cash back on dining and recurring pre-authorized payments

Mobile device protection on a no-fee card is unusual — most cards that include it charge $120 or more annually. Add a newcomer-specific $100 welcome bonus, no income requirement, and 1% on dining and recurring bills, and it makes a solid companion card for anyone arriving in Canada and building credit from scratch.

Welcome bonus

Earn $100 cashback as a newcomer to Canada.

worth approximately $100

~$100 first-year value

cad

Earn rates

Dining & food delivery1%

Recurring bills1%

Everything else0.5%

Estimate annual rewards

You'd earn ~$120/year

Key facts

Annual fee

$0 for the second authorized card.

Purchase APR

20.99%

Cash advance APR

22.49%

Foreign transaction fee

2.5%

Income required

No minimum income required

Credit score

600+

Quebec residents — terms may differ

Standard Quebec-market terms apply: 20.99% / 22.49% interest rates and a 5% minimum monthly payment (vs 2.5% elsewhere in Canada).

Verify current terms at issuer website →

Rates and fees sourced from National Bank of Canada's official card page →

Perks & benefits

$100 cash back welcome bonus for newcomers to Canada

Mobile device protection up to $1,000 — rare on any no-fee card

No annual fee and no minimum income requirement

1% cash back on dining and recurring pre-authorized payments

Insurance coverage

Mobile device protection ($1,000, 2 years).
Purchase protection (90 days).
Extended warranty (1 year).

Pros & cons

Pros

Mobile device protection up to $1,000 is exceptional for a no-fee card
Newcomer welcome bonus specifically targets new Canadians
No income requirement makes it accessible to anyone building credit
National Bank is headquartered in Quebec — strong French-language support

Cons

0.5% base rate on all other purchases is among the lowest available
1% earn rate on bonus categories is modest compared to competing no-fee cards
Limited nationwide branch and ATM network outside Quebec
Welcome bonus requires completing 20 purchases — higher threshold than most

Eligibility requirements

Subject to credit approval.

Frequently asked questions

It is one of the few cards with a welcome bonus specifically for newcomers. The $100 cash back bonus, no income requirement, and mobile device protection make it worth holding alongside a higher-earning card. The earn rates are low but the insurance benefit is genuinely useful for anyone arriving with a new phone.