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

  • Last Updated:
  • Oct 19th, 2019 10:14 pm
Newbie
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Oct 19, 2017
11 posts
18 upvotes
So what is the difference between World and World Elite cards? I am a bit confused
Deal Addict
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Feb 9, 2009
1256 posts
731 upvotes
ArturR204688 wrote:
Sep 10th, 2019 11:54 am
So what is the difference between World and World Elite cards? I am a bit confused
You dont have the 250$ you can redeem against the seat selection, airport parking and baggage fees.
Newbie
Aug 29, 2017
87 posts
13 upvotes
What do you need to bring to a branch for verification?
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Feb 9, 2009
1256 posts
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simplypop wrote:
Sep 7th, 2019 8:53 pm
So I guess the $80 card is the most worthwhile to get to maximize the $480 cashback?
I think this is the best deal unless you're flying often. So pay 89$ in the 2nd month after activating the card, by that time you should have 2 x 40$ in rewards paid back to your card, so 89$-80$= 9$ paid out of pocket, then another 10 mths x 40$/mth = 400$ profit less the 9$ out of pocket, then cancel next year, with a total profit of 391$ Correct?
Same calculation goes for the World Elite but you're out of pocket 70$ in the second mth, but get the extra 10 mths x 40$/mth + 250$ to reedeem . So total 330+250$ = 580$ in the first year

Both cards will also provide their respective cashback (1-2%) on top of the above mentioned amounts, depending on your spending
Deal Addict
Aug 10, 2003
1060 posts
239 upvotes
Winnipeg
bobcat99 wrote:
Sep 10th, 2019 11:41 am
Not only did did I read it before, I understood it and used the benefits for extended warranty on a MacBook twice, once since they changed the terms and conditions in 2017.
Here you go and it is on page 16.
https://www.nbc.ca/content/dam/bnc/en/p ... delite.pdf

"electronic tablets, mobile devices, portable computers and software" are not listed as an exclusion under Extended Warranty. (Neither are " drones and other remote-controlled aerial devices")
They are only listed under Purchase Protection and there is a difference between the two.

I read the document you linked and found their extended warranty goes *beyond* 5 years.... I updated my post with the following:

The fine print for the warranty says "up to 2 additional years" so 1 year manufacturers warranty becomes 3, 2 year manufacturers warranty becomes 4 and 5 year manufacturers warranty becomes 7. If the item has a 5 year or longer manufacturers warranty then you need to register the item with them.
Member
Jan 16, 2011
423 posts
119 upvotes
Toronto
IIRC, each point is < $1 (i.e. 50 points per $20 dollar statement credit). Don't feel like getting ripped off when redeeming them points.
Member
Nov 22, 2012
361 posts
270 upvotes
AMHERST NS
I updated the thread summary to reflect that the $120 Cashback offer also applies to the Syncro (low interest) and MC1 Mastercards.
Member
Mar 1, 2014
346 posts
185 upvotes
JosephL468090 wrote:
Sep 10th, 2019 11:28 am
can you get both this offer from credit card and from their chequing account, 300 bonus?
just checked and their top account (free with >6000 in the account) give you 150 rebate on credit card
would make this offer very sweet, esp with the triple warrenty that you should keep the card long term
"The Total" account offers the rebate of up to $150. It should work with this, but the wording seems vague - "The cashback on the annual fees for a National Bank Mastercard credit card can only be applied one time, at enrolment." It appears the rebate is for only one time, but not every year. Which "enrolment" does it refer to, for chequing account or credit card?
Member
Aug 5, 2018
451 posts
523 upvotes
JosephL468090 wrote:
Sep 10th, 2019 11:28 am
can you get both this offer from credit card and from their chequing account, 300 bonus?
just checked and their top account (free with >6000 in the account) give you 150 rebate on credit card
would make this offer very sweet, esp with the triple warrenty that you should keep the card long term
gshrfd wrote:
Sep 14th, 2019 5:05 am
"The Total" account offers the rebate of up to $150. It should work with this, but the wording seems vague - "The cashback on the annual fees for a National Bank Mastercard credit card can only be applied one time, at enrolment." It appears the rebate is for only one time, but not every year. Which "enrolment" does it refer to, for chequing account or credit card?
After thinking about this deal for several days, I believe the best deal is platinum without checking.

Checking account needs $6000 in checking, open for 1 year, (along with switching payroll), gives you $300 bonus + $150 annual fee reversal on the WE, for a total value of $450.
This is 7.5% annual return on $6000, which is considerable but not extremely high:
Compare to $500 from HSBC advance ($300 opening bonus + $100 payroll + $100 referral (also +$100 for referrer) ) , with $5000 for 1 year, earning interest (either from savings account or GIC)
This is ~12% annual return, counting the interest of $5000 in 1 year.

Furthermore, you may need to fight for the checking offer of national bank, as the fine prints of the credit card deals state:
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.
https://www.nbc.ca/personal/mastercard- ... elite.html

From what I've read about national bank, I don't think I plan to fight them for it, as many say they are difficult to work with.

As for the extra $250 of baggage/parking etc, (or $250 + $250 if you double dip before and after Jan 1), it doesn't seem easy to claim.
From the fine print, you need to call in, and have them mail you a form, and then you mail it back, in which case they may still deny the claim.
This is far worse and risky to work with, compared to HSBC WE travel enhancement credit $100.
(You risk not getting reimbursed for your spending.)

So I'm deciding to keep things simple.
Just grab the platinum $89 fee, for $480 cashback in a year.
Forget about WE + checking.

The plat is already a good enough deal, and from reading comments here, seems to be easy to work with as well.


Indeed, with WE, you spend $6000 on 1 whole year, gets you extra 3k national bank points (1.5pt/$ on WE, 1pt/$ on plat), worth about $20, but this is not a deal changer.
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Jan 4, 2011
2170 posts
2164 upvotes
Montreal
efrant wrote:
Sep 5th, 2019 9:18 pm
For what it's worth, here is my experience:

I applied online on day 1 and received the application confirmation email saying "A letter with the credit decision will be mailed to you within ten to fifteen business days". I waited until I saw a hard pull on my Equifax file (which happened on day 3) and I called in to find out the status. The customer service rep (who was not a credit specialist) told me that I will be receiving a letter in the coming days asking me to come in to a branch to verify my identity. I asked if that meant I was approved, and she said there was nothing indicating approved or declined on the application, from what she could see, other than I needed to present myself to a branch for ID verification.
So just to continue the story:

I received the letter. It stated that once I headed into a branch and they verified my identity, they would go ahead and send me a card. I proceeded to a branch, where I waited about 20 minutes to get served. When I was finally in front of the teller and told here what I was there for, she had a blank stare on her face. Eventually she decided to call someone (probably the same number we call for credit cards) and we were waiting on hold for another 15-20 minutes. Finally we got through to a rep. The teller spouted off her employee number or whatever, and then proceeded to tell the rep what was in the letter. Then the rep had to talk to me and confirm my address verbally (even though the teller already had my drivers' license in her hand), then back to the teller. I guess the rep told the teller what needed to be done, which is filling out a form with all my info and mailing it to the credit card team. So, the teller takes another 10 minutes, fills out the form, and tells me that we were finished. (Waste of an hour.) A couple of days later, I called NBC to ensure that my application is on track, and the rep tells me (in a slightly rude tone) that the form is mailed to them by the branch, so there's no way it would have reach them, and that I should "exercise some patience", and once they receive the form, I should receive the card in 8-10 business days after. And that conversation was on day 15 after I applied, so this is going to likely be a full month process... :D

Interesting experience to say the least. Even my experience with Scotia was nowhere even close to being that bad. At least Scotia told me that my card would be mailed to the branch and I would need to go pick it up and bring whatever documents. I went to a branch, showed them my docs, they punched in the info into their computer, gave me my card and wished me well. A breeze compared to National Bank.
Sr. Member
Mar 23, 2009
553 posts
266 upvotes
Toronto
Anyone know of is a hard credit check to open the bank account online? Or is it just a soft check via the verification questions... It states you must have a credit profile for 6 months on the starting page.
Deal Addict
Sep 15, 2008
1402 posts
3381 upvotes
Pawtucket
Received my card today. PIN came earlier in the week. Only got $5k limit but it should be fine since I plan on using spending only $500 each month to qualify for the bonuses. Took just under 2 weeks from time of application to receiving the card.
Member
Oct 4, 2003
275 posts
52 upvotes
To choose which card, you need to factor in the point value of the minimum spend of $6,000 ($500 x 12) and determine the net cost of each card. If we assume you will be using the points earned against travel not booked through the National Bank travel site, a point is worth $0.0083. So if we use the $6,000 spend, the net cost of the World Elite would be $150 (Annual Fee) - $74.70 (Rewards on the $6,000 x 1.5 points = 9,000 points x $0.0083 = $74.70) = $75.30. The World net cost would be $115 (Annual Fee) - $62.25 (Rewards on the $6,000 x 1.25 points = 7,500 points x $0.0083 = $62.25) = $52.75. The Platinum net cost would be $89 (Annual Fee) - $49.80 (Rewards on the $6,000 x 1 point = 6,000 points x $0083 = $49.80) = $39.20. No one would choose the World since it costs more than the Platinum with no extra benefit (except for the higher multiplier). So the choice boils down to whether you can use any of the Travel perks (Airport Parking $100, Seat Selection $50 or Baggage Fees $100) that would offset the extra net cost of $36.10 for the World Elite ($75.30 net cost) vs. the Platinum ($39.20 net cost).
Jr. Member
Apr 7, 2019
160 posts
95 upvotes
Planning to get Platinum card and hoping to get $40/cashback per month.

When does first month start? From card Issue date, card activation date or first day of the month?

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