mycredit Mastercard
Annual Fee
$0.00
Interest Rate
19.99%
Balance Transfer
22.99%
Cash Advance
22.99%
Credit Score
Good
Rewards
-
- Limited time offer: get up to 6% cashback on eligible purchases for the first 3 months
- Earn cashback at a rate of 1% on restaurants purchases and recurring pre-authorized payments
- Earn 0.5% cashback on all other eligible purchases.
- Cashback will automatically be deducted each month from the balance on your bill.
- Protect your mobile device: get a protection against theft or damages for a period of up to 2 years after the date of purchase of the mobile device.
- Double the manufacturer’s warranty: get items repaired or replaced for up to twice as long.
- Get 90-day purchase protection: shop with peace of mind—most purchases made with your card are protected against theft and damage.
- Zero Liability Included.
- You must be a Canadian resident
- You must be the age of majority in your province/territory of residence.
Summary
The mycredit Mastercard is a cashback card that also offers its holders mobile device insurance, purchase protection and extended warranty. Earn 1% cashback on restaurant purchases and recurring payments, and 0.5% cashback on all other eligible purchases!
Our Review
mycredit Mastercard
The mycredit Mastercard allows its holders to earn cash back on all their eligible day-to-day purchases, as well as benefit from mobile device insurance. For no annual fee, you can earn 1% cashback on restaurant purchases and pre-authorized payments, and 0.5% cash back on all other eligible purchases. This card also has a welcome offer of 6% cash back for the first 3 months, though these earnings are capped at $125. Cardholders will also benefit from purchase protection and extended warranty. All in all, this card looks like a great option for those wanting to get a little cash back from their credit card for no annual fee, especially those who love to dine out! With the additional mobile device insurance, this card could help you make pretty good savings if you don’t let interest build up.
As per our rating system, this card scored 17/25 on rewards, 16/25 on interest rates and balance transfers, 8/25 on perks and insurance, and 25/25 on annual fees. Therefore, the total smart score of this card is 66/100.
Pros
- No annual fee
- Limited time offer: get up to 6% cashback on eligible purchases for the first 3 months
- Earn cashback at a rate of 1% on restaurants purchases and recurring pre-authorized payments
- Earn 0.5% cashback on all other eligible purchases.
- Cashback will automatically be deducted each month from the balance on your bill.
- Protect your mobile device: get a protection against theft or damages for a period of up to 2 years after the date of purchase of the mobile device.
- Get 90 day purchase protection as well as extended warranty and zero liability.
Cons
- A relatively low cashback rate after the 3 month promotional period.
- The promotional cash back rate of 6% has a cap of $125 in earnings.