I have been pretty harsh on National Bank, but I also really believe that they have a chance to break out with some better products and take over more of the market share. They are starting with a pretty good promotion with the National Bank World Elite MasterCard. But as usual, below are the highlights of the credit card:
- $150 annual fee (first year fee waived if you apply before April 30, 2016)
- $50 for supplementary cardholders
- Earn 30,000 (or $300) sign up bonus (if you apply before April 30, 2016)
- $250 in travel fee reimbursements
- Earn 1.5 point for every $1 spent on purchases between $0 to $40,000
- Earn 2 points for every $1 spent on purchases between $40,001 to $80,000
- Earn 1.5 point for every $1 spent on purchases of $80,001 and more
- Earn a bonus 0.5 point on purchase volumes in foreign currencies
- Access to the National Bank World MasterCard lounge
The first year fee waived promotion actually works as follows: apply before April 30, 2016, and activate it no later than May 31, 2016.
In terms of the 30,000 sign up bonus points offer, the first 20,000 points will be awarded upon activation of the credit card and the additional 10,000 points will be awarded one year after the card is issued on the account anniversary date.
So technically you will need to pay the $150 one time the following year to get the full bonus. Worse case you take the 20,000 sign up bonus and first year fee waived to give it a try and forgo the last 10,000 before the end of the year. But this credit card does hold a lot of potential value as I explained in my last post. Feel free to refer to that post to get more a detailed analysis on the features and benefits of this credit card.
If you have been contemplating about signing up for this credit card, wait for a promotional offer like this one to give it a try. Now is as good a time as any to go for it!