The National Bank Syncro Mastercard is considered one of the best National Bank credit cards, particularly for those prioritizing low-interest rates.
It offers a current rate of 11.20% APR on purchases and 15.20% on cash advance transactions for a $35 annual fee.
This National Bank Syncro Mastercard review covers this card’s benefits, downsides and eligibility requirements to help you determine if it’s the right card for you.
Key Takeaways
- The National Bank Syncro Mastercard is a low-interest credit card with a current APR of 11.20% on purchases and 15.20% on cash advance transactions.
- The other benefits of the Syncro Mastercard include getting Purchase Protection, Extended Purchase Warranty, and protection from fraudulent transactions.
- Some downsides of this credit card are its $35 annual fee and the absence of rewards points or cash back benefits.
National Bank Syncro Mastercard – Summary
National Bank Syncro Mastercard
Best National bank credit card for low interest
Annual fee: $35
Rewards: Low-interest credit card.
Interest rates: 4% + prime rate for purchases (currently 11.20%), 8% + prime rate for cash advances (currently 15.20%).
Minimum income requirement: None
Recommended credit score:
Very Good
On National Bank’s website
The National Bank Syncro Mastercard is an ideal choice for individuals who wish to transfer their balance, receive basic insurance coverage on purchases, or minimize their interest payments on their credit card.
After all, the current APR for purchases on this card is only 11.20% (4% + Prime), while the minimum APR for cash advances is 15.20% (8% + Prime).
However, note that since this Mastercard uses the National Bank’s annual variable interest rate, aka Prime Rate, the interest rates can vary slightly, depending on your transaction type.
Benefits Of The National Bank Syncro Mastercard
Some of the main benefits of the National Bank Syncro Mastercard include the following:
Purchase Protection
The National Bank Syncro Mastercard protects your purchases from loss, damage, or theft for 90 days from the purchase date of your goods.
Extended Purchase Warranty
Double the manufacturer’s warranty of the items you buy using the National Bank Syncro Mastercard for up to a one-year extension. This benefit also covers purchases made abroad, provided the manufacturer’s warranty is valid in Canada.
Fraud Protection
Mastercard’s Zero Liability Policy guarantees you won’t be held liable for unauthorized transactions made using your card. In case of any disputed payments, simply contact National Bank’s customer service for assistance.
Special Offers For Urban Travels
Thanks to the Priceless Cities program, this National Bank Mastercard provides you with exclusive offers for room upgrades, unique tours, and menus when visiting eligible cities worldwide.
Safe And Convenient Payments
Whether you need to make contactless, mobile, automated or one-click payments, the National Bank Syncro Mastercard has got you covered. It caters to all forms of popular payments, ensuring your safe and convenient financial transactions.
Downsides Of The National Bank Syncro Mastercard
Although it has multiple benefits, the National Bank Syncro Mastercard still has some downsides you should take note of, which are listed below.
$35 Annual Fee
Although paying $35 per year is a considerably fair price for this National Bank credit card, some may still consider this a downside, considering that some other low-interest credit cards in Canada have no annual fees.
No Rewards Points Or Cash Back
You can’t accumulate rewards points or receive cash back with this credit card.
Interest Rates May Vary
Since the National Bank Syncro Mastercard incorporates the Prime Rate to determine its APR, it’s not unusual for its interest rates to vary over time.
Note: The increase or decrease of this National Bank Mastercard’s APR is subject to change based on the Bank of Canada’s overnight rate.
Paid Balance Transfers
This card’s low-interest rates make it an excellent option for balance transfers. Unfortunately, it charges a minimum of 15.20% when transferring balances, which makes it the weaker candidate against other low-balance transfer credit cards in Canada.
How To Apply For The National Bank Syncro Mastercard
The following requirements must be met to apply for the National Bank Syncro Mastercard:
- Be a Canadian resident.
- Be at the age of majority in your province or territory.
Provided you meet these two criteria, you can apply for this credit card online, by calling the National Bank customer service, or by visiting the bank in person.
The application process typically takes only a few minutes. Ensure you have your SIN and several pieces of ID for identification purposes to avoid potential delays when applying.
Alternatives To The National Bank Syncro Mastercard
If you’re open to other low-interest credit card options apart from the National Bank Syncro Mastercard, you may want to consider the cards listed below.
HSBC +Rewards Mastercard
For a low annual fee of $25, this Mastercard allows you to enjoy only 11.9% interest rates on both purchases and cash advance transactions. On top of that, the HSBC +Rewards Mastercard offers up to 2 Rewards Points on every dollar you spend on eligible purchases.
HSBC +Rewards Mastercard
Best for low-interest rates
Annual fee: $25
Rewards: Earn up to 2 points per dollar on eligible purchases.
Interest rates: 11.9% on both purchases and cash advances.
Minimum income requirement: None
Recommended credit score:
Good
On HSBC’s website
BMO Preferred Rate Mastercard
The BMO Preferred Rate Mastercard is another affordable credit card option with a low annual fee of $20. It offers highly competitive interest rates of 12.99% on purchases and 15.99 on cash advance transactions.
BMO Preferred Rate Mastercard
Best BMO credit card for low-interest
Annual fee: $20
Rewards: Low-interest credit card.
Interest rates: 12.99% for purchases and 15.99% for cash advances.
Minimum income requirement: $15,000
Recommended credit score:
Good
On BMO’s website
CIBC Select Visa Card
This Visa card is another excellent low-interest credit card option for any Canadian resident whose household income is at least $15,000 per year. In exchange for a $29 annual fee, it offers a low APR of 13.99% on both purchases and cash advances.
Related: CIBC Select Visa Review.
CIBC Select Visa Card
CIBC low-interest credit card
Annual fee: $29
Rewards: Access insurance benefits plus savings on gas and transaction fees.
Interest rates: 13.99% on purchases and cash advances.
Minimum income requirement: A minimum annual household income of $15,000.
Recommended credit score:
Good
On CIBC’s website
MBNA TrueLine Mastercard
If you are looking for a low-interest credit card with zero annual fees, the MBNA TrueLine Mastercard fits the bill. Its interest rate on purchases is only 12.99%, and cash advances are charged with a 24.99% APR.
MBNA True Line Mastercard
Great for low-interest purchase rates
Annual fee: $0
Rewards: Low-interest rate of 12.99%.
Welcome offer: 0% interest rate on balance transfers for the first 12 months.
Interest rates: 12.99% for purchases, 24.99% for cash advance.
Minimum income requirement: N/A
Recommended credit score:
Good
On MBNA’s website
Is the National Bank Syncro Mastercard Worth It?
The National Bank Syncro Mastercard is worth it if you need a secure, low-interest credit card with multiple benefits.
This credit card offers purchase and fraud protection and an extended purchase warranty, making it one of the best cards for Canadian residents who prioritize security while saving money.
FAQs
The interest rate on the Syncro Mastercard is a minimum of 11.20% on purchases and 15.20% on cash advances. This credit card uses the Prime rate. Hence, interest rates can vary over time or depending on the type of purchase.
You may contact National Bank by calling their customer service number, 1-888-622-2783. Alternatively, you can reach them online, through email or messenger, or by visiting one of the bank’s branches in person.
You may pay your National Bank Mastercard balance through the bank’s website or mobile application. Just head to the “Pay” or “Pay a bill” section of the platform’s main menu and follow the prompts on the screen to pay for your credit card balance.
