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[National Bank] National Bank Mastercard Cashback Offer - New Clients Only

  • Last Updated:
  • Jan 23rd, 2020 4:12 pm
[OP]
Member
Mar 3, 2015
313 posts
359 upvotes
King City

[National Bank] National Bank Mastercard Cashback Offer - New Clients Only

Deal Link:
Retailer:
National Bank
More offers from National Bank
EDIT 2: The offer has been extended until November 30

EDIT: Offer is now live. I posted details in the thread summary

Starting September 3, 2019, National Bank will be offering a cashback incentive for new clients who sign up for one of their Mastercards.

For their Echo, Allure, MyCredit - $10 cashback a month for each month you spend $200 or more (Up to 12 months)

For Platinum, World, and World Elite - $40 a month for each month you spend $500 or more (up to 12 months)

This hasn't been released officially yet so I will update the thread once it is live with the terms and conditions. I figured I'd post it ahead of time just to let everyone know.
Last edited by TheSheldor on Oct 31st, 2019 9:31 pm, edited 3 times in total.
Thread Summary
EDIT 2: The offer has been extended until Feb 29, 2020

EDIT: The offer has been extended until November 30, 2019

$120 Cashback Conditions for mycredit, Allure, ECHO, Syncro, MC1
Credit card is issued subject to credit approval by National Bank of Canada. Get $10 cashback for each month you charge at least $200 in net purchases to card over a 12-month period (maximum cashback of $120). The account must be in good standing for the cashback to be awarded. Certain restrictions apply. This promotion is intended for individuals who do not have a National Bank Mastercard credit card and cannot be combined with any other National Bank offer, promotion or advantage. You must apply before October 31, 2019 to take advantage of this promotion. National Bank reserves the right to end this promotion at any time without notice. Upgrades are excluded from the offer. The offer is not applicable when opening an additional card. The CAA Rewards and Ultramar cards are excluded from this offer.

$480 Cashback Conditions for Platinum, World, World Elite
Credit card is issued subject to credit approval by National Bank of Canada. Get $40 cashback for each month you charge at least $500 in net purchases to card over a 12-month period (maximum cashback of $480). The account must be in good standing for the cashback to be awarded. Certain restrictions apply. This promotion is intended for individuals who do not have a National Bank Mastercard credit card and cannot be combined with any other National Bank offer, promotion or advantage. You must apply before October 31, 2019 to take advantage of this promotion. National Bank reserves the right to end this promotion at any time without notice. Upgrades are excluded from the offer. The offer is not applicable when opening an additional card. The CAA Rewards and Ultramar cards are excluded from this offer.

Annual Fees and income requirements for cards that offer the $480 bonus: Platinum at $89 a year, the World at $115 a year and the World Elite at $150 a year annual fee. Platinum has no minimum income requirement, World has $60,000 individual or $100,000 family minimum income requirement and World Elite has $80,000 individual or $150,000 family minimum income requirement.

FAQ:

Q: Does the minimum spend limit have to be reached within the calendar month or statement period?
A: It must be reached within the statement period

Q: Does the annual fee count towards the minimum spending limits?
A: No

Q: When will you get your first statement credit?
A: Folks have stated it appears after you reach your spending limits on your 2nd statement
261 replies
Deal Guru
User avatar
Mar 8, 2002
11706 posts
3047 upvotes
GTA
TheSheldor wrote:
Sep 1st, 2019 10:37 pm


For Platinum, World, and World Elite - $40 a month for each month you spend $500 or more (up to 12 months)



$500 for churning, niiiice.
_______________

( ͡° ͜ʖ ͡°)
Deal Addict
Dec 4, 2008
1331 posts
806 upvotes
TheSheldor wrote:
Sep 1st, 2019 10:37 pm
For Platinum, World, and World Elite - $40 a month for each month you spend $500 or more (up to 12 months)
== $6k min spend for $500.

But I guess most people will cancel before they receive the CB on the 12th month to avoid AF hit (whether FYF or not).

Does it matter to FIs if people spend $6k at once and get $500, or spend $500/month for 12 months and get $40/month? They charge the same interchange %...my guess is this is just a way to encourage people to not hit and run (taking from the AMEX Cobalt model).
Member
Mar 16, 2018
473 posts
452 upvotes
Hamilton
Nice to see National Bank getting their head in the game - their credit cards otherwise stink!
Sr. Member
Mar 13, 2012
980 posts
507 upvotes
Near You
If FYF this could be worth getting. Shame it'll most likely be worse than old Echo offering
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Sr. Member
User avatar
Jul 5, 2013
897 posts
1347 upvotes
Saint John
Their credit cards don't have good basic cashback rates tho....
[OP]
Member
Mar 3, 2015
313 posts
359 upvotes
King City
demon1102 wrote:
Sep 2nd, 2019 12:25 am
Their credit cards don't have good basic cashback rates tho....
A $480 cashback makes the par/slightly subpar cashback rates seem a lot better.
Deal Addict
Sep 15, 2008
1458 posts
3775 upvotes
Pawtucket
The WE version doesn't look so bad despite the $150 AF.
Looks like it also comes with $250 per year on seat selection, airport parking and baggage fees.* (times 2 since the $250 is every calendar year although there are max payouts for each category which does make it a little more restrictive)

*The maximum amount that can be submitted for reimbursement between January 1 and December 31 of each year is $250. Eligible expenses include: airport parking fees (maximum $100), baggage fees (maximum $100) and seat selection fees (maximum $50). The claim must be submitted within 60 days of the purchase date and accompanied by proof of purchase. The travel fees must be charged to the National Bank World Elite Mastercard credit card. The maximum reimbursement amount is $250 per account. An amount not claimed in a year cannot be carried over to the following year. For more information or to obtain a copy of the reimbursement claim form, call 1‑888‑296‑8881 (toll-free) in Canada and the United States, or +1‑416‑734‑3922 (collect) from anywhere in the world.

Just cancel after the first year.
[OP]
Member
Mar 3, 2015
313 posts
359 upvotes
King City
redboy69 wrote:
Sep 3rd, 2019 10:24 am
The WE version doesn't look so bad despite the $150 AF.
Looks like it also comes with $250 per year on seat selection, airport parking and baggage fees.* (times 2 since the $250 is every calendar year although there are max payouts for each category which does make it a little more restrictive)

*The maximum amount that can be submitted for reimbursement between January 1 and December 31 of each year is $250. Eligible expenses include: airport parking fees (maximum $100), baggage fees (maximum $100) and seat selection fees (maximum $50). The claim must be submitted within 60 days of the purchase date and accompanied by proof of purchase. The travel fees must be charged to the National Bank World Elite Mastercard credit card. The maximum reimbursement amount is $250 per account. An amount not claimed in a year cannot be carried over to the following year. For more information or to obtain a copy of the reimbursement claim form, call 1‑888‑296‑8881 (toll-free) in Canada and the United States, or +1‑416‑734‑3922 (collect) from anywhere in the world.

Just cancel after the first year.
I have said this before but I think the World Elite is a very underrated travel card. The cashback is lackluster for sure but it's got amazing travel benefits. If you travel a lot, it's actually a pretty good card to have.

Ofc on RFD, most people look at just the cashback.
Deal Addict
Jun 1, 2008
2470 posts
415 upvotes
Cambridge, ON/Guelph…
dekay wrote:
Sep 3rd, 2019 9:42 am
Might be worthwhile to sign up for the World card just for the 2x points.

Assuming you'll only spend 6k/year, your annual fee comes to $15 for the first year.
$115 annual fee - $100GC from 12,000 points = $15

https://creditcardgenius.ca/blog/nation ... enses-bnc/
If you only do the min spend to hit the $480 cashback, you only get 1.5x the points.

It's only after you spend $40k-80K on the card that you start to earn 2x the points.

While I don't see the card a fit for me (considering no FYF), I do like the extended warranty coverage on this card. It's the first time I've seen a card triple the warranty.

I would have considered it if there were no FTF.

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