National Bank Syncro Mastercard

Overview

The National Bank Syncro Mastercard is a low-interest credit card issued by National Bank of Canada on the Mastercard network. It carries a $35 CAD annual fee and is built for one purpose: reducing the cost of carrying a credit card balance. Most standard Canadian credit cards charge 19.99% on purchases. The Syncro's purchase interest rate is 8.90%, and the rate on cash advances and balance transfers is 12.90% — both meaningfully lower. This card does not earn rewards or cashback.

Who this card is for

The Syncro Mastercard is for Canadians who regularly carry a balance from month to month and are paying close to 20% interest on a standard card. If you typically owe $3,000–$5,000 CAD on your card and pay it down gradually, the interest savings from switching to the Syncro's 8.90% rate can meaningfully exceed the $35 CAD annual fee in the first year. This is a practical card, not a rewards card — it suits people who prioritise reducing interest costs over accumulating points.

Key benefits

The core benefit is the low purchase interest rate of 8.90%. On a $3,000 CAD average monthly balance, the difference between a standard 19.99% card and the Syncro's 8.90% rate works out to roughly $332 CAD saved in interest annually — well above the $35 CAD fee.

The cash advance rate of 12.90% is also below the standard 21–22% that most Canadian cards charge for cash advances. For emergency situations where a cash advance is unavoidable, the lower rate provides a meaningful cost reduction.

The card comes with standard Mastercard purchase protection and extended warranty, which apply automatically to eligible purchases.

Potential drawbacks

This card earns no rewards. Every dollar you spend returns nothing in cashback or points. That's the trade-off — you're buying lower interest exposure at the cost of earning potential. If you pay your balance in full every month, the Syncro offers no advantage over a rewards card; the low interest rate only benefits cardholders who carry a balance. The $35 CAD annual fee also represents a cost that doesn't exist on no-fee low-interest alternatives like the MBNA True Line Mastercard, which has a 12.99% purchase rate and no annual fee.

How it compares

The MBNA True Line Mastercard has no annual fee and a 12.99% purchase rate — a reasonable low-cost option for balance carriers who want to avoid a fee entirely. The Syncro's 8.90% rate is considerably lower, though, meaning for larger balances the Syncro's annual fee pays for itself in interest saved. The BMO Preferred Rate Mastercard is another comparator: it charges $20 CAD annually with a 12.99% purchase rate, sitting between the no-fee MBNA card and the Syncro on both cost and rate.

Bottom line

The Syncro is a disciplined choice for National Bank clients who carry a balance and want to reduce their interest burden. If you're paying off debt month over month, the 8.90% rate justifies the $35 CAD fee. If you pay in full, use a rewards card instead.