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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 {{card.name}} has earned a {{ranking}} DollarWise Rating out of 5. This score is based on a weighted average of the two highest scoring factors (excluding acceptance and approval).

The highest scoring categories for the {{card.name}} are {{score_1}} and {{score_2}}.

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 {{card.name}} the most important factors for scoring this card are its {{score_1}} and {{score_2}}.

Rewards

With the {{card.name}}, 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 {{monthlyspend}} per month with the {{card.name}} would earn {{card.rewards}} 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 {{card.name}} is worth up to {{card.max_reward}}, depending on how you redeem.

This {{card.rewards}} in rewards value puts the {{card.name}} in the {{decile.annual_rewards}} of credit cards in Canada based on rewards earned.

The average credit card in our database earns {{averages.mean_annual_rewards}} in rewards for the same spend that the {{card.name}} earns {{card.rewards}} 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.

For an annual spend of {{annualspend}}, we estimated annual rewards value at up to {{total_net_rewards}}.

That's equivalent to a {{total_earn_rate}} return on spending.

The {{card.name}} has an annual fee of {{card.annualFee}}. After deducting this, we predicted net annual rewards of {{net_after_fee}}.

This puts it in the {{decile.net_annual_rewards}} of credit cards for net rewards after fees.

In comparison, the average card earns net annual rewards of {{averages.mean_net_annual_rewards}}.

Fees

The {{card.name}} has a {{card.annualFee}} annual fee.

The average card charges {{averages.mean_annual_fee}}. So, the {{card.name}} is in the {{decile.annual_fee}} 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 {{card.name}} scored a {{factor_score_perks}} out of 5 for perks, putting it in the {{decile.factor_score_perks}} of cards.

The average card scores {{averages.mean_factor_score_perks}} out of 5 for perks.

Interest Rates

The average (median) credit card has a purchase interest rate of {{averages.median_purchase_interest_rate}} and so the {{card.name}} charges {{purchase_interest_diff}} than the average.

For cash advances it costs {{cash_advance_interest_rate}}% compared to the average of {{averages.mean_cash_advance_interest_rate}}.

Testing the {{card.name}} with a $2,000 starting balance, you can see in the graph how the {{purchase_interest_diff}} in interest rates impacts the interest over a year, compared to the average card.

Insurance coverage

We scored it {{factor_score_insurance}} out of 5 for insurance.

It offers {{insurance_count}} types of insurance, whereas the average card has {{averages.insurance_count}} types of coverage.

Approval and qualifying

We scored it {{factor_score_approval}} out of 5 for approval.

We predict that you will require a credit score of at least {{credit_score_low}} to qualify for the {{card.name}}, while the average card requires {{averages.mean_credit_score_low}} to qualify.

This puts it in the top {{decile.credit_score_low}} of cards by approval difficulty.

The personal income requirements are {{personal_income}}, while the average card requires {{averages.mean_personal_income}}.

This puts it in the {{decile.personal_income}} of cards by the income required to qualify.

The National Bank Platinum MasterCard offers impressive benefits and a competitive earning potential aimed at providing a great experience for its users. This review will discuss the earning potential, benefits, drawbacks, and other relevant information to assist in determining if this card is the right fit for you.

Earning potential

The National Bank Platinum MasterCard allows cardholders to earn points through its À La Carte Rewards program. Users will earn 1 point for every $1 they spend using the card.

While the card does not offer category-specific earning rates, its reward structure remains uncomplicated and straightforward — making it more appealing to individuals who prefer simplicity in earning rewards.

Benefits

1. Comprehensive Travel Insurance: The first major advantage of this card is its comprehensive travel insurance coverage. The National Bank Platinum MasterCard provides an extensive travel insurance package, covering everything from trip cancellations, interruptions, baggage losses, and car rental protection.
   
   This added protection offers peace of mind for travelers, especially those frequently setting out on trips.





2. Access to À La Carte Rewards Catalogue: Cardholders can redeem points through the extensive À La Carte Rewards Catalogue. The catalogue offers an array of rewards, including gift cards, merchandise, travel benefits, and more. This flexibility allows users to choose the rewards that best suit their personal preferences and lifestyles.





3. No Travel Blackout Periods: Another key advantage of the National Bank Platinum MasterCard is the freedom from travel blackout periods. Users can redeem points for travel rewards without worrying about these restrictions. This means cardholders can book flights, hotels, and other travel-related amenities whenever they choose.





4. Concierge Service: The fourth major advantage of this card is the complimentary concierge service. Cardholders have access to a 24/7 concierge service that can assist with reservations, event ticket bookings, and more. This perk ensures an elevated sense of luxury and convenience for users.

Drawbacks

1. Annual Fee: One significant drawback of the National Bank Platinum MasterCard is the annual fee. The card carries a $89 annual fee, which may deter some individuals looking for a no-fee card. It’s important to weigh the benefits and rewards against the annual fee to determine if this card offers enough value to justify the cost.





2. No Bonus Categories: Another drawback of this card is the lack of bonus earning categories. Unlike other cards that provide higher earning rates for specific spending categories such as dining, travel, or groceries, this card maintains a flat earning rate with no additional bonuses.
   
   This may be less appealing for those who want to maximize their rewards in specific spending categories.

Additional information

The National Bank Platinum MasterCard offers various promotions and exclusive events to its cardholders. These promotions can include discounts on travel accommodations, financial products, and other unique experiences. Keeping an eye on these promotions can add extra value to the overall credit card experience.

In summary, the National Bank Platinum MasterCard is a great choice for those seeking simplicity in earning rewards along with excellent travel benefits. However, the lack of bonus earning categories and the annual fee may prompt some to explore alternative options.

Is the National Bank Platinum MasterCard not convincing you? Consider the National Bank World Elite MasterCard or the National Bank Syncro MasterCard. Still not the right credit card? Make sure not to miss the National Bank ECHO Cashback Mastercard.

FAQ

Key benefits

• 0% introductory APR for first 12 months on balance transfers





• Standard APR of 20.99% after introductory period





• No annual fee





• Earn 1 point for every $1 spent on eligible purchases





• Travel medical insurance up to $1 million





• Trip interruption and cancellation insurance





• Comprehensive car rental collision and loss insurance





• Extended warranty protection on eligible items





• Access to LoungeKey airport lounges worldwide





• 3D Secure Protection for online transactions





• Accepted at millions of locations globally





• 2.5% fee on foreign currency transactions