Lena Hayes
The National Bank Platinum Mastercard is a flexible rewards card aimed at Canadians who want solid everyday earn rates, useful travel insurance and mobile device coverage without paying a premium-card fee. You can earn up to 2 points per $1 on everyday spending, enjoy travel insurance for trips of 10 days or less, and get up to $1,000 in mobile phone insurance, all with an annual fee of $70 (rebated in the first year for new cardholders during the current promo).
Quick highlights
- đ° Welcome offer of up to 25,000 rewards points plus first-year annual fee rebate for the primary card and one additional card (offer currently scheduled to run until February 2, 2026).
- đ Earn 2 points per $1 on the first $1,000 in gross monthly purchases across all categories, then 1.5 points per $1 on eligible grocery and restaurant purchases above that threshold.
- ✠Earn 1.5 points per $1 on gas and electric vehicle charging, recurring bill payments and Ă la carte Travel bookings.
- đ Earn 1 point per $1.50 on all other eligible purchases.
- âïž Travel insurance for trips of up to 10 days outside your province of residence, including emergency medical, trip cancellation and trip interruption.
- đ± Mobile device insurance up to $1,000 for eligible phones purchased with the card, for up to 2 years.
- đ Named one of the best credit cards for young professionals by Canadian rewards experts, with no minimum income requirement.
Why we like the National Bank Platinum Mastercard
The National Bank Platinum Mastercard is a true all-rounder in the mid-range space. It combines a flexible points program, useful travel insurance, mobile device coverage and a lowish annual fee, with no minimum income requirement. That makes it especially attractive for students nearing graduation, young professionals and anyone who wants real perks without the price tag of a full premium card.
Where it stands out is in its category multipliers and first-$1,000 monthly accelerator: the first $1,000 of gross monthly purchases earns 2 points per $1 regardless of category, and key categories like groceries, restaurants, gas, recurring bills and travel continue to earn elevated rates beyond that. Add in 10-day travel insurance and up to $1,000 in mobile phone coverage and you get a card that quietly covers a lot of bases.
Stand-out features
- â Up to 25,000 rewards points for new cardholders who meet spending and insurance enrolment conditions, plus a first-year fee rebate for the primary card and one additional card.
- â 2 points per $1 on the first $1,000 in gross monthly purchases across any category, then elevated multipliers on common everyday categories.
- â 1.5 points per $1 on gas and EV charging, recurring bill payments and Ă la carte Travel bookings.
- â Travel insurance for trips up to 10 days, including emergency medical, trip cancellation and interruption, and baggage protections.
- â Mobile device insurance up to $1,000 for up to 2 years on eligible smartphones financed or purchased with the card.
- â Access to the National Bank Lounge at MontrĂ©alâTrudeau (subject to program terms and conditions).
- â Recognised by Milesopedia as one of the best credit cards for young professionals.
Good to know
- â ïž Annual fee is $70 for the primary card and $35 per additional card, rebated in the first year under the current promo.
- â ïž Interest rates are 20.99% on purchases and 22.49% on cash advances and balance transfers.
- â ïž There is no minimum income requirement, but approval is still subject to National Bankâs credit criteria.
- â ïž Travel insurance coverage is designed for short trips (10 days or less); longer trips will need top-up coverage.
- â ïž The welcome offer requires specific spending and, for part of the bonus, enrolment in payment protection insuranceâmake sure those conditions fit your plans.
Pros
- Strong earn rates on groceries, restaurants, gas, EV charging and recurring bill payments for a modest annual fee.
- First $1,000 of monthly spending earns 2 points per $1 across all categories, giving a nice boost on your main card spend.
- Travel insurance for trips up to 10 days, including medical, trip cancellation/interruption and baggage protections.
- Mobile device insurance up to $1,000 for up to 2 years on eligible phones.
- Access to the National Bank Lounge at MontrĂ©alâTrudeau for a more comfortable airport experience.
- No minimum income requirement, which opens the card up to a wider range of applicants.
- Points can be used toward travel, gift cards, merchandise or statement credits through the Ă la carte Rewards program.
Cons
- Base earn rate of 1 point per $1.50 on âother purchasesâ is weaker than many flat-rate cash-back cards.
- Travel insurance only covers trips of up to 10 daysâfrequent long-haul travellers will need additional coverage.
- Welcome bonus is tied partly to enrolling in payment protection insurance, which may not make sense for everyone.
- No comprehensive airport lounge program; access is focused on National Bankâs own lounge in MontrĂ©al.
- Interest rates are standard credit-card levelsâcarrying a balance will quickly erase the value of points and perks.
Rewards program
The National Bank Platinum Mastercard earns points in the Ă la carte Rewards program. These points are fairly flexible: you can redeem them for travel discounts, merchandise, gift cards or credits toward your card balance. Travel redemptions through the National Bank online boutique typically yield some of the best value.
- First $1,000 in monthly purchases (all categories): 2 points per $1 spent on the first $1,000 in gross purchases billed to your account each month.
- Groceries & restaurants: After that first $1,000, eligible grocery and restaurant purchases continue to earn 1.5 points per $1.
- Gas & EV charging: 1.5 points per $1 on eligible gas and electric vehicle charging purchases.
- Recurring bill payments: 1.5 points per $1 on eligible recurring bill payments (such as utilities, streaming services and some subscriptions).
- Ă la carte Travel bookings: 1.5 points per $1 when you book travel through the Ă la carte Rewards platform.
- Other purchases: 1 point per $1.50 spent on all other eligible purchases.
- Welcome offer: Up to 25,000 bonus points broken into tiers for enrolment in payment insurance and meeting spending thresholds in the first 3 and 12 months.
How to maximize rewards
-
Front-load your spending each month.
Because the first $1,000 in monthly spending earns 2 points per $1, try to put your core recurring purchases (groceries, gas, bills, transit, etc.) on the card early in each statement cycle to capture the higher rate. -
Lean into the 1.5Ă categories.
After youâve hit the first $1,000, keep using the card for groceries, restaurants, gas/EV charging, recurring bills and travel, where youâll still earn 1.5 points per $1. Consider using a different card for big âotherâ purchases that only earn 1 point per $1.50. -
Plan around the welcome bonus conditions.
If youâre comfortable with payment protection insurance and the spending thresholds, line up near-term expenses (like travel, insurance, or large bills) so you can unlock as much of the 25,000-point bonus as possible within the required timelines. -
Redeem where points are worth more.
Use your points first for travel discounts or high-value items in the Ă la carte Rewards online boutique. Statement credits and some merchandise may offer slightly lower value per point, so treat those as secondary options. -
Add an authorized user if it fits.
If you share finances with a partner or family member, adding an authorized user can consolidate spending and accelerate your points earning, especially in bonus categories. -
Always charge insured purchases to the card.
Make sure major travel expenses, car rentals and eligible mobile devices are charged to this card so you benefit from the included insurance and protections if something goes wrong.
Insurance & benefits
Included coverage
- Out-of-province hospital medical insurance for trips of up to 10 days outside your province of residence, covering eligible emergency medical expenses (up to the limits set out in the certificate).
- Trip cancellation and interruption insurance for covered reasons when you charge eligible travel arrangements to your Platinum Mastercard.
- Flight delay and delayed luggage insurance to help cover meals, accommodation and essentials when flights are significantly delayed or baggage is late.
- Stolen or lost baggage insurance for personal property that is lost, stolen or damaged while in transit, subject to per-item and aggregate limits.
- Vehicle rental insurance (collision, loss and damage) when you charge the full cost of the rental to your card and decline the rental agencyâs collision damage waiver, up to the vehicle and duration limits specified.
- Medical, legal and general assistance services while travelling, including help finding care, replacing documents and coordinating emergency support.
- Mobile device insurance for eligible new smartphones and tablets purchased with the card or financed on a plan paid with the card, up to $1,000 in case of accidental damage, loss or theft, typically for up to 2 years from purchase.
- Purchase protection for covered items against theft or accidental damage for up to 180 days from the date of purchase when charged to the card.
- Extended manufacturerâs warranty that doubles the original warranty on eligible items, up to a maximum additional year.
Travel & lifestyle perks
- Access to the National Bank Lounge at MontrĂ©alâTrudeau International Airport for a more relaxed pre-flight experience (access conditions and any fees apply as per current program rules).
- Ă la carte Rewards online boutique where you can redeem points for travel, merchandise, gift cards or to pay down your card balance.
- Contactless payments with Apple Pay and Google Pay for faster checkout online and in-store.
- Enhanced security through Mastercard ID Check and National Bankâs fraud monitoring, including zero liability for unauthorized transactions when you meet the cardholder obligations.
- Discounts on certain banking packages like The Total and The Connected packages when you hold a qualifying credit card and account bundle.
- Simple online application with quick responses and no minimum income required (approval still subject to credit review).
As with all credit card insurance, coverage is governed by detailed terms, conditions, exclusions and eligibility requirements in the official Certificate of Insurance. Be sure to read those documents carefully and contact the insurer or National Bank if you have questions before you travel or rely on the benefits.
Rates & fees
| Annual fee | $70 for the primary cardholder (rebated in the first year for new cardholders under the current promotion). |
|---|---|
| Additional cards | $35 per additional card per year (the first additional cardâs fee is also rebated in the first year during the promo). |
| Purchase APR | 20.99% on purchases. |
| Cash advance APR | 22.49% on cash advances and balance transfers. |
| Installment purchases | No dedicated installment plan is prominently advertised for this card; standard revolving credit terms apply unless a promotional offer is provided. |
| Cash advance limit | Cash advances and balance transfers are subject to credit approval and are limited by your assigned credit limit and any applicable daily ATM or teller limits. |
| Grace period | At least a 21-day interest-free grace period on new purchases when you pay your statement balance in full by the due date. No grace period applies to cash advances or balance transfersâinterest accrues from the transaction date. |
| Minimum payment | If you live in Quebec, the minimum payment is generally 5% of the account balance or $10, whichever is higher, plus any past-due amounts. Outside Quebec, the minimum payment is typically 2.5% of the account balance or $10, whichever is higher, plus any past-due amounts. |
Best for
- đ Students and young professionals who want real rewards, travel insurance and mobile coverage without a high annual fee or income requirement.
- đ Households that spend consistently on groceries, restaurants, gas and recurring bills and can leverage the 2Ă and 1.5Ă earn rates.
- âïž Canadians who take short trips (10 days or less) and value having built-in emergency medical and trip coverage.
- đ± Anyone investing in a new smartphone who likes the extra peace of mind of mobile device insurance.
- đł People who want a âdo-most-thingsâ card that can handle everyday spending and modest travel without tying them to a single airline.
Where it falls short
- The base earn rate of 1 point per $1.50 on other purchases is weaker than flat 1â2% cash-back cards.
- Travel insurance only covers trips up to 10 days; longer vacations and extended stays require additional coverage.
- Welcome bonus is partially tied to signing up for payment protection insurance, which wonât appeal to everyone.
- No broad global lounge program; lounge perks are focused on National Bankâs MontrĂ©al lounge only.
- As with nearly all rewards cards, carrying a balance at ~21â22% interest quickly erodes any value from points and insurance.
Customer reviews
Positive feedback
âFor $70 a year (rebated in year one), the Platinum Mastercard gives me travel insurance for short trips, decent points on my groceries and gas, and even phone insurance. Itâs a nice step up from a no-fee card.â
âI like that thereâs no income requirement. I got this card early in my career and use the points mostly for travel discounts and the odd gift card.â
Critiques
âThe earning rate on the âother purchasesâ category is pretty underwhelming. I now use another rewards card for big miscellaneous spends and keep this one for groceries, restaurants and gas.â
âThe welcome bonus conditions are a bit complex, especially the part tied to payment insurance. Itâs not as straightforward as some other cards with simple spend-based bonuses.â
Community insights
Among Canadian rewards enthusiasts, the National Bank Platinum Mastercard is often described as a âsleeper hitâ for young professionals. It doesnât have the flash of a premium World Elite card, but the combination of solid earn rates, 10-day travel insurance and mobile device coverage for a relatively low annual fee earns it a lot of respect. Many people pair it with a no-fee cash-back card or a more premium travel card, using the Platinum Mastercard specifically for its high earn categories, short-trip coverage and phone insurance.
AI review (straight talk)
The National Bank Platinum Mastercard hits a sweet spot for many Canadians: better than entry-level, but not so premium that the fee feels hard to justify. If youâre building your credit, early in your career or just want a card that does a bit of everything without demanding a high income, this card is absolutely worth a look.
The main caveats are the weaker base earn rate on âotherâ purchases and the 10-day limit on travel insurance. If you spend heavily in grocery, dining, gas and recurring bills, and your trips tend to be short, those trade-offs are easy to live with. If you want longer-trip coverage or a card that maximizes absolutely every dollar of spend, you may eventually graduate to a premium travel card and keep this one for its niche strengths.
Alternatives & comparison
| Card | Annual Fee | Top Categories / Earn | Other Purchases | Key Perks | Best For |
|---|---|---|---|---|---|
| National Bank Platinum Mastercard | $70 | 2 points per $1 on first $1,000 monthly; 1.5 points per $1 on groceries, restaurants, gas, EV charging, recurring bills and Ă la carte Travel | 1 point per $1.50 | 10-day travel insurance, mobile device insurance up to $1,000, National Bank Lounge access, no income requirement | Young professionals and everyday spenders who value insurance and flexible rewards |
| National Bank World Elite Mastercard | Higher | Up to 5 points per $1 on select categories | Elevated base earn rate | More robust travel insurance, stronger earn rates, richer travel perks | Frequent travellers willing to pay a higher fee for more rewards and benefits |
| Typical no-fee cash-back card | $0 | Up to 2% cash back in a few categories | 0.5â1% cash back | Simple rewards, usually minimal insurance | Light spenders and those who rarely travel or want zero annual fees |
| Premium travel rewards card | $150â$500+ | High multipliers on travel, dining, groceries and more | 1â2 points per $1 | Global lounge access, hotel status, rich insurance and welcome bonuses | Frequent travellers who maximize benefits and can justify a higher fee |
FAQ
What is the annual fee for the National Bank Platinum Mastercard?
The annual fee is $70 for the primary cardholder and $35 for each additional card. Under the current promotion, these fees are rebated in the first year for the primary card and the first additional card.
What are the interest rates on this card?
The standard interest rate is 20.99% on purchases and 22.49% on cash advances and balance transfers. These rates are typical for mid-range rewards cards and can change over time, so always verify the current rates with National Bank.
How does the rewards program work?
You earn points in the Ă la carte Rewards program. The first $1,000 in gross purchases charged to your account each month earns 2 points per $1, regardless of category. After that, grocery and restaurant purchases earn 1.5 points per $1; gas, EV charging, recurring bills and Ă la carte Travel earn 1.5 points per $1; and other purchases earn 1 point per $1.50. Points can be redeemed for travel, merchandise, gift cards or statement credits.
Is there a welcome bonus?
Yes. New cardholders can currently earn up to 25,000 rewards points by meeting spending thresholds in the first 3 and 12 months and by enrolling in credit card payment insurance for at least 3 months. The offer structure and end date are subject to change, so check the National Bank website for the latest details before applying.
What travel insurance is included?
The card includes travel insurance for trips of up to 10 days outside your province of residence. Coverage includes emergency medical care, trip cancellation and interruption, delayed and lost baggage, and rental vehicle coverage, subject to the limits and conditions outlined in the Certificate of Insurance.
Does this card include mobile device insurance?
Yes. If you buy or finance a new eligible smartphone or tablet with your National Bank Platinum Mastercard, you can get up to $1,000 in coverage for loss, theft or accidental damage for up to 2 years, subject to the policy terms and exclusions.
Is there airport lounge access?
The card provides access to the National Bank Lounge at MontrĂ©alâTrudeau International Airport under the terms of the current lounge program. It does not include a global lounge network membership like Priority Pass, but can still add comfort if you regularly depart from MontrĂ©al.
Who should consider the National Bank Platinum Mastercard?
This card is well suited to Canadians who want a single mid-tier card that combines decent rewards on everyday spending with short-trip travel insurance and mobile device coverage, particularly those who donât meet or donât want higher income requirements for premium cards.
Final verdict & ratings
Our take The National Bank Platinum Mastercard is a very solid mid-range option that punches above its weight on benefits. It doesnât chase ultra-high multipliers or luxury perks; instead, it quietly delivers good earn rates in real-world categories, 10-day travel insurance and mobile device coverageâall for a $70 annual fee thatâs rebated in year one for new cardholders.
If youâre a heavy traveller looking for global lounge access and premium hotel perks, youâll probably want to pair or replace this with a higher-end travel card. But if youâre a young professional, a frequent grocery-and-gas spender or someone who likes the idea of protecting their phone and short trips without breaking the bank, the Platinum Mastercard is a very compelling choice.
| Overall | â â â â â 4.2 / 5 |
|---|---|
| Rewards value | 4.1 / 5 â strong for targeted categories, but weaker on general spend. |
| Benefits & protections | 4.4 / 5 â short-trip travel insurance and mobile device coverage are impressive at this fee level. |
| Fees & costs | 4.0 / 5 â modest annual fee, but standard interest rates mean you should avoid carrying a balance. |
| Ease of approval | 4.5 / 5 â no minimum income requirement makes it accessible to many Canadians with decent credit. |
