The ECHO Rewards Mastercard from the National Bank of Canada is designed to make cashback rewards easier and more valuable. Once you've amassed enough rewards through online purchases, buying groceries, gas, and paying for other miscellaneous expenses, you can collect and use the rewards at any time.
Using cashback credit cards can be a great way to increase your spending budget and get more value for your money. You can get a small percentage back for every dollar you spend on select purchases using your card. The only issue is that many of those cards have strict limitations on how and when you can collect your rewards. Not ECHO Cashback Mastercard, however. Offered by the National Bank of Canada, the sixth-largest commercial bank in the country, the ECHO Cashback Mastercard is a reliable choice for those who want to accumulate their rewards.
National Bank ECHO Cashback Mastercard is Best for
National Bank’s ECHO Cashback Mastercard presents numerous advantages to the right cardholder. Take a look at just some of the benefits you can enjoy by applying for this card.
Up to 1.5% cashback reward
National Bank ECHO Cashback Mastercard’s biggest selling point is its valuable rewards. As a cardholder, you could earn as much as $291 in cashback for your regular weekly expenses, including online purchases – a unique advantage not frequently seen in cashback credit cards. The 1.5% cashback is applied to select online purchases, gas, and groceries. Paying for other expenses such as utilities, phone bills, going to restaurants and shows, and using your card for other miscellaneous purchases will earn you 1% cashback rewards. While most credit cards with cashback rewards force you to wait until the end of the year to collect and spend them, the ECHO card gives you almost immediate access. As soon as you’ve collected $10 in cashback rewards, you can apply them to your credit card account and start using them for a vast selection of goods and services.
Secure online purchases
As part of the Mastercard network, the National Bank ECHO card offers an array of benefits. You can have a secure online shopping experience with the Mastercard ID Check1 that protects you against fraud. The service will automatically verify your identity when you make online purchases, so you can rest easy knowing your card is safe and secure. You’ll also enjoy Mastercard’s Zero Liability Policy which will keep you safe from any unauthorized transactions. The ECHO Mastercard also offers 90-day purchase protection against theft and damage, as well as an extended warranty on most items bought with your card.
With Mastercard’s Priceless Cities2 program, you can enjoy unique urban experiences in cities you live in and travel to. You can use your card to attend global events and gain priority access, explore hidden gems, gain access to exclusive menus, unlock room upgrades during your travels, and more.
Easy online application
The National Bank makes its cards accessible and affordable to all. Therefore, to qualify for the ECHO Cashback Mastercard, you simply have to be the age of majority in your state and a legal Canadian resident with a valid address and ID. You can seamlessly apply for the card online and start reaping its benefits without wasting time.
Are There Any Disadvantages?
Although the National Bank ECHO credit card can be a valuable addition for virtually any cardholder, it does have some drawbacks. Find out what the card’s major disadvantages are.
Not all online purchases receive 1.5% cashback. While the National Bank ECHO credit card’s strongest suit is cashback rewards on online purchases, you need to be aware that not all payments you make online will count towards your 1.5% rewards. If your online purchases belong to the categories of travel, transportation, or recurring bills (including online subscriptions), you’ll only receive the standard 1% cashback.
Cap on the 1.5% cashback rates. An additional drawback regarding the rewards is that there’s a cap on your 1.5% cashback rates. You’ll only receive 1.5% cashback on the first $25,000 you spend on eligible purchases – gas, groceries, and online purchases. Once you’ve exceeded $25,000, the rewards fall back to the standard 1%.
No sign-up bonuses. While most similar cards offer generous welcome and referral bonuses for new cardholders, the National Bank ECHO Cashback Mastercard has no such program.
Annual fees. Finally, you’ll have to prepare to cover the $30 annual fees when you apply for this card. While the fee itself is relatively low compared to some other cards, it could diminish your rewards. That’s why the card is best suited to those who spend at least $6,000 a year ($500 a month) on online shopping, gas, and groceries. By spending that amount, you’d earn $30 in cashback rewards that would cover the annual fees.
What Makes ECHO Cashback Mastercard Different
The ECHO Cashback Mastercard stands out as one of the best rewards cards for online shoppers. Even with the $25,000 cap on 1.5% rewards and the $30 annual fee, it’s a valuable card for increasing your spending power. It comes with significant Mastercard benefits, including purchase protection, contactless payments, urban experiences, extended warranty, and fraud protection, to name but a few, making it a valuable addition to anyone’s card collection.
Although the National bank ECHO Cashback Mastercard has some drawbacks, its advantages far outweigh them. It’s the top choice for online shoppers who want to receive high rewards. With a seamless application process and affordable fees, it makes for an excellent beginner’s card.
Frequently Asked Questions
Will I receive cash back on all online purchases with ECHO Cashback Mastercard?
The 1.5% cashback reward on online purchases isn’t applicable to all purchases. You will not receive 1.5% cashback on travel, transportation, and repetitive payments, including automatic bill payments and online subscriptions.
What are the eligibility criteria for ECHO Cashback Mastercard?
The National Bank ECHO Cashback Mastercard has very lenient eligibility criteria. You have to be a legal Canadian resident and be the age of majority in the province/territory where you live. Although there’s no minimum credit score requirement, the card is recommended for those with fair to excellent scores.
Is there a minimum income requirement for this card?
The ECHO Cashback Mastercard has no minimum income requirement for its cardholders. Still, unless you’re a student, it’s in your best interest to apply for this card if your income exceeds $15,000.
When can I redeem my cashback rewards?
Unlike most cashback cards that allow you to redeem your rewards at the end of the year, National Bank ECHO Cashback Mastercard enables you to use your rewards as soon as you’ve collected $10. Simply transfer the reward to your credit card account online and start using it.
All eligible purchases qualify for 1% cashback when your account is in good standing. Your account is in good standing when you comply with the obligations of your cardholder agreement (e.g., making your minimum payment by the due date). The cashback will be paid as a credit applied to your account and cannot be paid in cash. An additional cashback of 0.5% is granted on the first $25,000 of eligible gas, grocery and online purchases charged annually to your credit card account. The additional cashback of 0.5% does not apply when the total of your annual eligible purchases exceeds $25,000. After that, the cashback equals 1% of eligible purchases, regardless of the type of purchase. For conditions and restrictions that apply to cashback rewards and a full list of codes associated with eligible merchants, refer to the cashback accumulation table [PDF] and the applicable rules [PDF].
Grace period: No interest will be charged on purchases made during the month, provided the client pays the balance in full within twenty-one (21) days of the statement date. This grace period does not apply to cash advances or balance transfers. Minimum payment: If your account balance is lower than $10, you must pay the entire balance. If you reside in the province of Quebec, your minimum payment will correspond to 5% of the credit card account balance plus any overdue payment or $10, whichever amount is higher. If you reside outside of Quebec, your minimum payment represents 2.5% of the credit card account balance plus any overdue payment or $10, whichever amount is higher. Account statement: A statement is sent monthly.
Example of credit charges over a 30-day period
Annual interest rate
*Variable interest rate in effect on September 1, 2021
Balance transfer and cash advance are subject to credit approval by National Bank. Each balance transfer must be at least $250.
Purchase protection and Extended warranty
This coverage applies to purchases charged to the National Bank ECHO cashback card. Extended warranty coverage applies to most new items purchased with the card, in Canada or abroad, as long as the manufacturer’s warranty is valid in Canada. Certain conditions and restrictions apply. For more information and for details of your insurance coverage, please consult the insurance certificate associated with your card.
*The information provided for National Bank ECHO® Cashback Mastercard® is believed to be accurate at the time of evaluation or recent update on September 21, 2023. However, we strongly advise visitors to review the card fees and Terms & Conditions on the issuer's website by following Apply Now link to verify the accurancy of the information posted prior to applying for this card offer.
ECHO® Cashback Mastercard®
National Bank ECHO® Cashback Mastercard®
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