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National Bank of Canada review

Updated September 28, 2026 · SumCue Editorial Team · Facts checked September 26, 2026

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Our verdict

National Bank of Canada pairs a credit card with an annual fee of CAD 0 and cashback of Up to 1% cashback. It suits people in Canada who want everyday banking under one roof rather than shoppers chasing points. Borrowing costs sit high, with an APR of 20.99% to 22.49%.

Key facts

Best for
Canada based card users who want a fee free credit card with cashback from the same bank as their accounts.
Annual fee
CA$0↗
APR
20.99% to 22.49%↗
Currency conversion fee
2.5%↗
Rewards type
Cashback↗
Rewards rate
Up to 1% cashback↗
Cashback rate
1%↗
Card kind
Credit↗
Legal entity
National Bank of Canada↗
Headquarters
Canada↗
Founded
1859↗
Support channels
Chat, Phone, Help-centre↗
Pricing model
No annual fee
Features
Rewards
Official website
nbc.ca

Savings

Headline rate
0.55%↗
Rate type
Variable↗
Minimum deposit
CA$0↗
Access terms
Savings available at any time↗
Monthly fee
CA$0↗
Account kind
Easy access↗

Mortgages

Initial rate
4.69%↗
Fixed period
5 years↗
Maximum loan to value
95%↗
Product fee
CA$5↗
Purpose
Purchase, Remortgage, First-time-buyer, Home-equity↗

Debit cards

Card type
Debit↗

Facts checked September 26, 2026, 12 sources

Apps and profiles

Elsewhere
WikidataWikipediaX

Pros and cons

Pros

  • No annual fee on the credit card, so a card kept for everyday spending costs nothing to hold
  • Cashback pays Up to 1% cashback on a credit card rather than points that need redeeming
  • Support runs through chat, phone and help centre, so help is available by chat, phone or the help centre
  • The bank also offers an easy access savings account with a headline rate of 0.55% and a monthly fee of CAD 0

Cons

  • An APR of 20.99% to 22.49% is high against a median of 15.5% for cards in the ranking
  • The currency conversion fee of 2.5% sits at the top of the range for cards compared here
  • Support reaches chat, phone and help centre with no branch or in person option listed
National Bank of Canada

Ready to try National Bank of Canada?

Scored 9.3 / 10 by SumCue.

See alternatives

Who it suits

  • Canada residents who bank with the same institution for their card and savings
  • People who pay their balance in full and value cashback over points
  • Shoppers who mostly spend in Canadian dollars and rarely convert

Who should look elsewhere

  • Travellers who convert often, where Wise carries an annual fee of £0 with a much lower conversion cost
  • Card users who want points or travel rewards rather than cash, where bunq structures its plans differently
  • Borrowers carrying a balance, since the APR of 20.99% to 22.49% is high against the card median of 15.5%

How National Bank of Canada compares

Frequently asked questions

What does the National Bank of Canada credit card cost to hold?+

The card has an annual fee of CAD 0, so holding it costs nothing in fees. The cost comes if you carry a balance, with an APR of 20.99% to 22.49%. Paying the balance in full each month keeps the card free.

What rewards does the card pay?+

The card pays cashback, with rewards of Up to 1% cashback on spending. It is a cashback card rather than a points or travel card, so there is no scheme to join or points to redeem.

How much does it cost to use the card abroad?+

Currency conversion runs at 2.5%, which is high compared with a median of 1% across cards. The median currency conversion fee in the ranking is 2%, so foreign spending is the main cost to watch.

Is the card a credit card or a debit card?+

The rewards card is a credit card, so a balance can build up and carries the APR of 20.99% to 22.49%. The bank also issues a debit card through its personal accounts, which spends directly from your balance.

Does the bank offer savings as well as cards?+

Yes. The easy access account is a variable rate account with a headline rate of 0.55%, a minimum deposit of CAD 0 and a monthly fee of CAD 0. Savings are available at any time, so the account is built for instant access rather than a fixed term.

What support can I get if something goes wrong?+

Support runs on chat, phone and help centre. That means chat, phone and a help centre, with no branch network listed, so in person help is not part of the channels.

Who is the card aimed at?+

The card suits people already banking with the bank in Canada, and the bank was founded in 1859 and is headquartered in Canada. It fits everyday spending in Canadian dollars rather than frequent foreign currency use.

What are the account holder's legal details?+

The card is issued by National Bank of Canada. Deposits and savings sit with the same legal entity that issues the card, which keeps the card and the savings side by side.

Sources

Compiled from 12 source pages, checked September 26, 2026. We did not open an account.

National Bank of Canada

National Bank of Canada

Canada based card users who want a fee free credit card with cashback from the same bank as their accounts.

9.3/10See alternatives