National Bank Mastercard Business Card Review

4.25

$0

Annual Fee

$0

Annual Rewards

N/A

Intro Offer

$0

Annual fee

$0

Annual rewards

N/A

Intro offer


Pros


  • No annual fee for the first year, allowing businesses to try the card without upfront costs
  • Cashback rewards program with up to 1.75% cashback on eligible purchases
  • Integration with various accounting software, simplifying expense tracking and reporting
  • Purchase protection and Extended warranty coverage on eligible items
  • Travel insurance benefits, including Travel Medical and Trip Cancellation Insurance
  • Flexible credit limits tailored to businesses’ specific needs

Cons


  • Annual fee of $125 CAD after the first year, which may be costly for smaller businesses
  • Cashback rates lower compared to other competitors in the market
  • Foreign transaction fees of 2.5% on purchases made outside of Canada
  • No priority boarding or lounge access privileges often found with other business credit cards
  • Limited to National Bank customers, which may not be suitable for businesses working with other financial institutions

Performance test results

At DollarWise, for each credit card we test 7 different factors including the rewards, value for money, perks, insurance, strengths and weaknesses of the card.

You can see our full testing methodology here to learn why we’re the most trusted source for credit card reviews.

The National Bank Mastercard Business Card has earned a 4.25 DollarWise Rating out of 5. This score is based on a weighted average of the two highest scoring factors (excluding acceptance and approval).

Rewards

Fees

Perks

Interest rates

Insurance

Acceptance

Approval

The highest scoring categories for the National Bank Mastercard Business Card are fees and interest.

These factors are weighted 70% to the highest scoring factor and 30% to the second highest score to get an overall review score.

This weighting allows us to judge cards on their merits and the customers they are designed for.

For the National Bank Mastercard Business Card the most important factors for scoring this card are its fees and interest.

Rewards

With the National Bank Mastercard Business Card, here’s the rates at which you earn rewards for different spending categories per dollar you spend:

Calculating your annual rewards

We estimate that spending $2,000 per month with the National Bank Mastercard Business Card would earn $0 in rewards over the year.

Our performance testing research uses an accurate estimation of the average Canadian households spending patterns to predict the rewards a card will earn.

We found that you’d earn this per category:

Our study investigating the value found that each dollar spent on the National Bank Mastercard Business Card is worth up to $0.00, depending on how you redeem.

This $0 in rewards value puts the National Bank Mastercard Business Card in the bottom 20% of credit cards in Canada based on rewards earned.

The average credit card in our database earns $337 in rewards for the same spend that the National Bank Mastercard Business Card earns $0 in rewards value.

We can compare this card to other options by looking at the earn rate by category.

This earn rate is the percentage return that you would get when you spend on this card, assuming you redeem at the predicted maximum value.

For example, if a card earned 5 points per dollar on gas and each point is worth up to $0.02, then the earn rate is 5 points multiplied by $0.02 each, divided by the dollar you spent.

In this example, that’s a 10% earn rate on gas.

Above, we’ve calculated the earn rate for the National Bank Mastercard Business Card for every spend category and compared it to the average for all Canadian credit cards.

For an annual spend of $24,000, we estimated annual rewards value at up to $0.

That’s equivalent to a 0.00% return on spending.

The National Bank Mastercard Business Card has an annual fee of $0. After deducting this, we predicted net annual rewards of $0.

This puts it in the bottom 20% of credit cards for net rewards after fees.

In comparison, the average card earns net annual rewards of $254.

Fees

The National Bank Mastercard Business Card has a $0 annual fee.

The average card charges $85. So, the National Bank Mastercard Business Card is in the bottom 50% of cards based on the cost of the annual fee.

Perks

We manually review the perks of each credit card to determine how they compare to other cards.

The National Bank Mastercard Business Card scored a 0.6 out of 5 for perks, putting it in the bottom 20% of cards.

The average card scores 1.6 out of 5 for perks.

Interest Rates

Purchase20.99%
Cash Advance22.49%
Balance Transfer22.49%

The average (median) credit card has a purchase interest rate of 19.99% and so the National Bank Mastercard Business Card charges 1% more than the average.

For cash advances it costs 22.49% compared to the average of 19.96%.

Testing the National Bank Mastercard Business Card with a $2,000 starting balance, you can see in the graph how the 1% more in interest rates impacts the interest over a year, compared to the average card.

Insurance coverage

We scored it 0.0 out of 5 for insurance.

It offers 0 types of insurance, whereas the average card has 5 types of coverage.

Approval and qualifying

Do I qualify?
Estimated Credit Score760 – 900
Personal Income$0
Household Income$0
Fees
Annual Fee$0
Extra Card Fee$0
Card typeMasterCard

We scored it 2.5 out of 5 for approval.

We predict that you will require a credit score of at least 760 to qualify for the National Bank Mastercard Business Card, while the average card requires 652 to qualify.

This puts it in the top top 10% of cards by approval difficulty.

The personal income requirements are $0, while the average card requires $23,896.

This puts it in the top 50% of cards by the income required to qualify.

The National Bank Mastercard Business Card is a credit card designed specifically for entrepreneurs and small business owners. With a focus on earning rewards and providing travel benefits, this card offers a variety of features that cater to diverse needs. Below is a review of the card’s earning potential, four benefits, two drawbacks, and additional information worth noting.

Earning potential with the card

The National Bank Mastercard Business Card allows cardholders to earn points on everyday purchases. For every $2 spent, cardholders receive 1 A La Carte point, redeemable for rewards such as merchandise, gift cards, car rentals, and flights.

Though not specifically distinguishing between categories, the earning potential remains consistent across various spending areas, including dining, travel, and grocery purchases.

Benefits

  1. Complimentary Travel Insurance: Being a travel-centric card, the National Bank Mastercard Business Card offers Complimentary Travel Insurance that includes common carrier accident coverage, trip interruption, and vehicle rental. This added protection ensures peace of mind for entrepreneurs who frequently travel for business purposes.
  2. Expense Management Tool: Cardholders have access to an Expense Management Tool, enabling them to monitor spending, categorize and consolidate transactions, set alerts, and assign cards to employees. This allows businesses to maintain efficient control over their expenses.
  3. À la Carte Travel agency: By offering exclusive access to the À la Carte Travel agency, this card provides favorably negotiated rates with major airlines and hotel chains, ensuring cardmembers save money on their business-related travel.
  4. First-Year Annual Fee Waiver: National Bank Mastercard Business Card offers a first-year annual fee waiver for the primary cardholder as well as two supplementary cards. This represents saving on upfront costs and encourages entrepreneurs to provide cards to trusted employees.

Drawbacks

  1. Lack of Welcome Bonus: A primary downside to this card is the lack of a welcome bonus usually found with competitive cards, which could have encouraged increased card usage and reward earning among new users.
  2. High Reward Rates Deficiency: Although it offers vital travel benefits and expense management, this card lacks the high reward rates found in other business-specific credit card options, which might deter potential users who prioritize a higher earning potential.

Additional information

Cardholders benefit from access to several exclusive experiences with the Mastercard Priceless Cities program, which includes special offers and promotions within the realms of dining, entertainment, and shopping. Additionally, with a presence in over 40 million locations worldwide, this card ensures global acceptance for entrepreneurs conducting business worldwide.

In conclusion, the National Bank Mastercard Business Card is a useful travel-focused credit card for entrepreneurs and small business owners seeking travel insurance, expense management, and exclusive access to negotiated travel rates.

However, the lack of a welcome bonus and a comparatively lower reward rate cause the card to lack the competitive edge present in other business credit card offerings.

Is the National Bank Mastercard Business Card not convincing you? Consider the The Business Platinum Card American Express or the Scotiabank Passport Visa Infinite Business Card. Still not the right credit card? Make sure not to miss the BMO Air Miles No Fee Business MasterCard.

FAQ

With the National Bank Mastercard Business Card, you can redeem your points for a range of rewards through the À la carte Rewards Plan. These options include:

  • Travel: Use your points to book flights, hotels, car rentals, and vacation packages with no blackout dates or seat restrictions.
  • Gift cards and merchandise: Choose from a wide variety of gift cards from popular retailers, as well as an extensive selection of merchandise, including electronics, home appliances, and more.
  • Financial products: You can apply your points towards various National Bank products and services, such as contributing to your RRSP or TFSA, paying for mortgage interest, or covering fees for your bank account or investment products.
  • Charitable donations: Use your points to make donations to charitable organizations affiliated with National Bank.

In addition to these redemption options, you may also have access to exclusive events and experiences through the Mastercard Priceless Cities program.

The National Bank Mastercard Business Card imposes a foreign transaction fee on transactions made in a foreign currency. Cardholders are charged a fee of 2.5% of the transaction amount, converted to the card’s billing currency.

This fee is in addition to the currency conversion, based on the exchange rate applied by Mastercard at the time of the transaction.

There is no minimum income requirement for the National Bank Mastercard Business Card credit card. As this is specifically a business credit card, factors such as business revenues, business credit history, and time in operation are more relevant for the approval process.

Key benefits

  • First-year annual fee waiver, enabling cost-effective card exploration
  • Up to 1.75% cashback on qualifying transactions
  • Smooth integration with multiple accounting applications for streamlined financial management
  • Protective measures for purchases, including extended warranties where applicable
  • Comprehensive travel insurance, encompassing medical and trip cancellation coverage
  • Customizable credit ceilings to accommodate fluctuating business demands
  • Post-first-year annual fee of $125 CAD, potentially burdensome for smaller enterprises
  • Suboptimal cashback percentages relative to market alternatives
  • 2.5% foreign transaction fees for international spending
  • Absence of frequent flyer perks such as priority boarding or lounge entry
  • Exclusivity to National Bank clientele, potentially restricting businesses aligned with different banks

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