National Bank Platinum MasterCard Review



Annual Fee


Annual Rewards


Intro Offer


Annual fee


Annual rewards


Intro offer


  • 0% introductory interest rate for balance transfers for the first 12 months
  • No annual fee
  • Reward points system with 1 point earned per $1 spent
  • Insurance coverage including travel, car rental, and extended warranty
  • Access to MasterCard’s Airport Experiences by LoungeKey


  • Interest rate of 20.99% on purchases after the first year
  • Limited reward redemption options
  • No additional points on specific categories, such as gas or groceries
  • Foreign transaction fee of 2.5%

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 Platinum MasterCard has earned a 3.89 DollarWise Rating out of 5. This score is based on a weighted average of the two highest scoring factors (excluding acceptance and approval).




Interest rates




The highest scoring categories for the National Bank Platinum MasterCard are insurance and rewards.

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 Platinum MasterCard the most important factors for scoring this card are its insurance and rewards.


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

Bills1.5 points
Pharmacy0.67 points
Gas1.5 points
Groceries2 points
Restaurants2 points
Specific Stores1.5 points
Travel0.67 points
All Other Spend0.67 points

Calculating your annual rewards

We estimate that spending $2,000 per month with the National Bank Platinum MasterCard would earn $337 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:

Specific Stores$18
All Other Spend$52

Our study investigating the value found that each dollar spent on the National Bank Platinum MasterCard is worth up to $0.01, depending on how you redeem.

This $337 in rewards value puts the National Bank Platinum MasterCard in the top 50% 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 Platinum MasterCard earns $337 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.

SpendThis CardAverage
Above, we’ve calculated the earn rate for the National Bank Platinum MasterCard for every spend category and compared it to the average for all Canadian credit cards.
Redemption methodAnnual rewards
Transfer to partner airlines$337
Apply to statement credit$307
Gift cards$260
Make investments$280
Banking plans$337

For an annual spend of $24,000, we estimated annual rewards value at up to $337.

That’s equivalent to a 1.41% return on spending.

The National Bank Platinum MasterCard has an annual fee of $70. After deducting this, we predicted net annual rewards of $267.

This puts it in the bottom 50% of credit cards for net rewards after fees.

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


The National Bank Platinum MasterCard has a $70 annual fee.

The average card charges $85. So, the National Bank Platinum MasterCard is in the top 50% of cards based on the cost of the annual fee.


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

The National Bank Platinum MasterCard scored a 1.5 out of 5 for perks, putting it in the top 50% of cards.

The average card scores 1.6 out of 5 for perks.

Interest Rates

Cash Advance22.49%
Balance Transfer22.49%

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

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

Testing the National Bank Platinum MasterCard 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

InsuranceThis CardAverage
Extended Warranty2 years1 year
Purchase Protection180 days90 days
Emergency Medical Term10 days15 days
Emergency Medical over 6510 days4 days
Trip Cancellation$1,000$1,500
Trip Interruption$1,500$2,000
Flight Delay$500$500
Baggage Delay$500$500
Lost or Stolen Baggage$1,000$1,000
Rental Car Theft & DamageYesNo
Mobile Phone Insurance$1,000$1,000

We scored it 4.4 out of 5 for insurance.

It offers 11 types of insurance, whereas the average card has 5 types of coverage.

Approval and qualifying

Do I qualify?
Estimated Credit Score660 – 724
Personal Income$0
Household Income$0
Annual Fee$70
Extra Card Fee$0
Card typeMasterCard

We scored it 3.0 out of 5 for approval.

We predict that you will require a credit score of at least 660 to qualify for the National Bank Platinum MasterCard, while the average card requires 652 to qualify.

This puts it in the top bottom 50% 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 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.


  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.


  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.


With the National Bank Platinum MasterCard, you can redeem your points for a variety of rewards, including:

  • Travel Rewards: Book flights, hotels, car rentals, cruises, and vacation packages through National Bank’s À la carte Travel agency or by transferring your points to AIR MILES.
  • Gift Cards and Merchandise: Choose from a selection of popular retailers or browse through an extensive catalog of products like electronics, home appliances, fashion, and more.
  • Investments: Contribute to your National Bank investment account like RRSPs, TFSAs, and non-registered investments.
  • Mortgage Payment: Apply your points towards your National Bank mortgage payment (a minimum of 10,000 points required).
  • National Bank Mastercard Credit: Use your points to pay down your credit card balance with National Bank Mastercard credit.
  • Charitable Donations: Donate your points to support various charitable organizations.

The National Bank Platinum MasterCard credit card does impose foreign transaction fees. When you make a purchase in a foreign currency, a fee of 2.5% is added to the converted amount, in addition to the exchange rate charged by MasterCard at the time of transaction.

The National Bank Platinum MasterCard credit card has a minimum income requirement of $12,000 per year for Canadian citizens. Keep in mind that the issuer may consider additional factors when evaluating applicants, but meeting this minimum income threshold is an essential qualification for this card.

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

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