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Changes to credit cards

As of August 1, 2019, changes to pricing, Cardholder Agreement, À la carte Rewards plan^® and insurance coverage of our credit cards will come into effect.

To find out which changes are applicable to you, please click on one of the following links.

Personal

I have a personal credit card:

Allure^®
CAA Rewards^®
ECHO^® Cashback
Edition^®
Escapade^®
mycredit^TM
MC1

OVATION Gold^®
Platinum
Regular
Syncro
World
World Elite^®

Business

I have a business credit card:

Business
Business Line
Platinum Business
PREMIA^®

Platinum, World and World Elite cards

Changes to the pricing of your Platinum, World or World Elite card

Incidental charges

	Until July 31, 2019	Effective August 1, 2019
Additional copy of sales slip or monthly statement	$5	$0
Cheque issued for a credit balance	$5	$0
Fee for dishonored account payment	$42.50	$0
Fees for balance transfers: Requested when the credit card account is opened Requested after the opening of the credit card account	1% of the amount of the transaction 3% of the amount of the transaction	$0 $0
Fee for use of Mastercard cheques	3% of the amount of the transaction	$0
Fees for cash advances (per transaction): National Bank ATMs and tellers Other financial institutions in Canada Other financial institutions outside Canada	$3.50 $3.50 $3.50	$0 $0 $0

Other fees

	Until July 31, 2019	Effective August 1, 2019
Overlimit fee (fee charged once each statement period if the balance exceeds the credit limit on the billing date)	$29.00	$0 (province of Quebec only) $29 (outside of Quebec)

Interest rate on purchases

	Until July 31, 2019	Effective August 1, 2019
Regular interest rate on purchases	19.99%	20.99%
Increased interest rate on purchases	24.99%	25.99%
Promotional and reduced rates remain in effect. If a promotion ends after July 31, 2019, the new regular interest rate on purchases of 20.99% will apply. The new increased interest rate on purchases applies in all these cases.

Changes to the Cardholder Agreement for your Platinum, World or World Elite card

Payment of your credit card account

Until July 31, 2019

10.1 Minimum Payment

You can make a full or partial payment of the account balance at any time. However, you must make the minimum payment by the due date indicated on your statement. The minimum payment due represents:

For a balance of $10 and more: 2.5% of the credit card account balance plus any overdue payment or $10, whichever amount is higher.
For a balance under $10: the entire credit card account balance.

If you exceed your credit limit, the amount of the minimum payment due will be the highest of the following amounts:

a. 2.5% of the account balance

b. the amount of the overlimit

In case of a partial payment, interest will be calculated as described in section 11 of this agreement.

Effective August 1, 2019

10.1 Minimum Payment

You can make a full or partial payment of the account balance at any time. However, you must make the minimum payment by the due date indicated on your statement. The minimum payment due represents:

For a balance under $10: the entire credit card account balance.
For a balance of $10 and more:

If you reside in the province of Quebec:

If your account was opened on August 1, 2019 or later: the minimum due represents 5% of the credit card account balance plus any overdue payment or $10, whichever amount is higher.
If your account was opened before August 1, 2019: the minimum payment represents the percentage (corresponding to the applicable statement date in the following table) of the credit card account balance plus any overdue payment or $10, whichever amount is higher.

Minimum payments in the province of Quebec for accounts opened before August 1, 2019
Statement date	Minimum payment (% of the account balance)
Before August 1, 2020	2.5%
From August 1, 2020 to July 31, 2021	3.0%
From August 1, 2021 to July 31, 2022	3.5%
From August 1, 2022 to July 31, 2023	4.0%
From August 1, 2023 to July 31, 2024	4.5%
From August 1, 2024 and after	5.0%

If you reside in any of the Canadian provinces and territories, except the province of Quebec: the minimum due represents 2.5% of the credit card account balance plus any overdue payment or $10, whichever amount is higher.

If you choose to make a partial payment, the interests will be computed in accordance with section 11 of this agreement.

Change of address

Until July 31, 2019

23. Change of address

You must notify us promptly of any change of civic address or, where you wish to receive electronic documents. If you neglect to notify us of such changes, you may not hold us responsible for any damages that you may suffer as a result.

Effective August 1, 2019

24. Change of address

If you move to another province, you agree to the terms and conditions applicable to that province. Therefore, no further notice will be provided to you upon a change in address. The applicable changes will appear on your next statement.

Required clauses

New clause - Effective August 1, 2019

26. Clauses required under the Consumer Protection Act (Quebec)

“Clause required under the Consumer Protection Act. (Open credit contract for the use of a credit card)

If the consumer uses all or part of the credit extended to make full or partial payment for the purchase or the lease of goods or for a service, the consumer may, if the open credit contract was entered into on the making of and in relation to the sale, lease or service contract, and if the merchant and the open credit merchant collaborated with a view to granting credit, plead against the lender any ground of defence urgeable against the merchant who is the vendor, lessor, contractor or service provider.
The consumer may also, in the circumstances described in the first paragraph, exercise against the open credit merchant, or against the merchant’s assignee, any right exercisable against the merchant who is the vendor, lessor, contractor or service provider if that merchant is no longer active or has no assets in Québec, is insolvent or is declared bankrupt. The open credit merchant or the merchant’s assignee is then responsible for the performance of the obligations of the merchant who is the vendor, lessor, contractor or service provider up to the amount of, as the case may be, the debt owed to the open credit merchant at the time the contract is entered into, the debt owed to the assignee at the time it was assigned to him or the payment the open credit merchant received if he assigned the debt.
A consumer who is solidarily liable with another consumer for the obligations arising from an open credit contract is released from the obligations resulting from any use of the open credit account after notifying the merchant in writing that he will no longer use the credit extended and no longer intends to be solidarily liable for the other consumer’s future use of the credit extended in advance, and after providing proof to the merchant, on that occasion, that he informed the other consumer by sending him a written notice to that effect at his last known address or technological address.
Any subsequent payment made by the consumer must be applied to the debts contracted before the notice was sent to the merchant.
A consumer who has entered into a preauthorized payment agreement with a merchant under which payments are made out of credit obtained under a credit card contract may end the agreement at any time by sending a notice to the merchant.
On receipt of the notice, the merchant must cease to collect the preauthorized payments.
On receipt of a copy of the notice, the card issuer must cease debiting the consumer’s account to make payments to the merchant.
The consumer is not liable for debts resulting from the use of a credit card by a third person after the card issuer has been notified, by any means, of the loss, theft or fraudulent use of the card or of any other use of the card not authorized by the consumer. Even if no notice was given, consumer liability for the unauthorized use of a credit card is limited to $50. The consumer is held liable for the losses incurred by the card issuer if the latter proves that the consumer committed a gross fault as regards the protection of the related personal identification number.
Without delay at the end of each period, the merchant must send the consumer a statement of account.The merchant is not required to send a statement of account to the consumer at the end of any period if there have been no advances or payments during the period and the outstanding balance at the end of the period is zero.
If the consumer makes a payment at least equal to the outstanding balance at the end of the preceding period within 21 days after the date of the end of the period, no credit charges may be required from the consumer on that outstanding balance, except as regards money advances. In the case of a money advance, charges may accrue as of the date of the advance until the date of payment.
The consumer may demand that the merchant send, without charge, a copy of the vouchers for each of the transactions charged to the account during the period covered by the statement.The merchant must send the copy of the vouchers requested within 60 days after the date the consumer’s request was sent.
Until the consumer receives a statement of account at his address or technological address if expressly authorized by the consumer, the merchant must not claim credit charges on the unpaid balance, except as regards money advances.

It is in the consumer’s interest to refer to sections 103.1, 122.1, 123, 123.1, 124, 126, 126.2, 126.3, 127 and 127.1 of the Consumer Protection Act (chapter P-40.1) and, if further information is necessary, to contact the Office de la protection du consommateur.”

Changes to the À la carte Rewards plan applicable rules for your Platinum, World or World Elite card

Operations that do not accumulate points

Until July 31, 2019

1.5 You will not earn points on the following:

Cash advances;
Balance transfers;
Mastercard cheques;
Interest charges;
Non-interest charges (e.g. annual fees, balance transfer fees, foreign currency conversion fees, insurance premiums and fees for Mastercard cheques);
Return of purchases.

Effective August 1, 2019

1.5 You will not earn points on the following:

Cash advances;
Balance transfers;
Mastercard cheques;
Interest charges;
Non-interest charges (e.g. annual fees, balance transfer fees, foreign currency conversion fees, insurance premiums and fees for Mastercard cheques);
Return of purchases;
Repay with rewards points;
Credits resulting from an exchange of points.

Balance of negative points

Until July 31, 2019

1.7 If the balance of your points is negative, for example, following the return of a purchase, any new points accumulated will first be used to settle the negative balance.

Effective August 1, 2019

1.7 If the balance of your points is negative, for example, following the return of a purchase or simultaneous or successive purchases made using the same points, any new points earned will first be used to settle the negative balance according to the earning rate associated with your credit card.

13.3 The balance of your points is negative when the account is closed: we reserve the right to cancel any exchange having caused the negative balance.

14.2 If your points show a negative balance when you close your account (e.g.: following the return of a purchase or simultaneous or successive purchases made using the same points or following an error on our part): we reserve the right to cancel any exchange having caused a negative balance or to claim from you the monetary value of those points at the rate of $0.015 per point. This amount will be charged to you and will appear on your next credit card statement.

14.2 We make an error when points are exchanged: we reserve the right to correct it and to adjust the points accordingly.

15.2 If we make a calculation error when points are exchanged or reimbursed: we reserve the right to correct it and to adjust the points accordingly. If the balance of your points is negative following such an adjustment, the new points earned will be first applied to settle the negative balance, as per the earning rate associated with your card.

Assigning a monetary value to points

Until July 31, 2019

2.9 Points have no cash value and cannot be claimed for cash. However, for some eligible financial products and under section 6.1, we attribute a monetary value to your points.

Effective August 1, 2019

2.10 Points have no monetary value and you cannot claim them for cash, except in the following cases for which we attribute a monetary value to your points:

You purchase one of the eligible financial products (section 7);
You exchange your points for a reward which allows for a credit to your credit card account (sections 2.11 and 6.1);
You repay with your rewards points (section 8);
The balance of your points is negative and we ask you to reimburse the negative balance (sections 1.7, 14 and 15);
Your points are converted to pay a debt to your account when your account is not in good standing (section 10.2).

Conversion of points and suspension of the right to exchange points

Until July 31, 2019

9.1 Your right to exchange points is suspended in the following cases:

You have not fully paid the annual fees for your credit card.
You have failed to make the minimum monthly payment.
You have not fulfilled any other obligation under the credit card agreement.

9.2 You have 30 days following receipt of a notice to this effect to correct the situation. Otherwise, we may cancel your points or close your credit card account in which case you will not be able to exchange your points.

Effective August 1, 2019

10.1 Your right to exchange points is suspended in the following cases:

You have not fully paid the annual fees for your credit card.
You have failed to make the minimum monthly payment.
You have not fulfilled any other obligation under the credit card agreement.

10.2 If your situation corresponds to one of the situations described in the preceding paragraph, we will send you a notice to this effect. You will have 30 days following this notice to correct the situation. Otherwise, we may convert your points to a monetary value, as per the exchange table shown in Schedule “A”* (see section “Conversion of points for reimbursement”) and apply that value as a reimbursement of your credit card account.

Replacement of your credit card by any other National Bank credit card

Until July 31, 2019

10.1 By another card that offers the À la carte Plan: your points will automatically be transferred to your new credit card account.

10.2 By an Allure^TM or Edition^TM card with cashback: your points will automatically be converted to a cashback when your new credit card account is opened.

10.3 By any other National Bank credit card: you will have 30 days to exchange your points. After 30 days, your points will be cancelled.

Effective August 1, 2019

11.1 By another card that offers the À la carte Plan: your points will automatically be transferred to your new credit card account.

11.2 By any other National Bank credit card: your À la carte Plan credit card account will be closed. We encourage you to use your points before the replacement of your card since your points may expire due to the inactivity of your account.

In case of fraud

New clause - Effective August 1, 2019

15.4 In case of fraud: we reserve the right to reverse the fraudulent transaction or claim from you the refund of the monetary value of the points used at the following exchange rate: $0.015 per point. This amount will be charged to you and will appear on your next credit card statement.

* See Schedule A at the following address: nbcrewards.ca/rules

Changes to the insurance coverage of your Platinum, World or World Elite card

Changes to the Platinum card

Insurance coverage

Emergency Medical Care (EMC) outside of the province of residence*

Until July 31, 2019

Applicable coverage:

Age 74 and under : 10 days
Age 75 and over : no coverage

If the trip exceeds this number of days, the insured person will not benefit from EMC coverage outside their province of residence.

Effective August 1, 2019

Applicable coverage:

Age 75 and under: 10 days
Age 76 and over: no coverage

If the trip exceeds this number of days, the insured person will not benefit from EMC coverage outside their province of residence

* Please note that these changes will also be incorporated into the Certificate of Insurance and to the Distribution Guide for the Platinum card.

Changes to the World Mastercard^® and World Elite^® Mastercard^® cards

Insurance coverage

Emergency Medical Care (EMC) outside of the province of residence*

Until July 31, 2019

Applicable coverage:

Age 54 and under: 60 days
Age 55 to 64: 31 days
Age 65 to 74: 15 days
Age 75 and over: no coverage

If the trip exceeds this number of days, the insured person will not benefit from EMC coverage outside their province of residence.

Effective August 1, 2019

Applicable coverage:

Age 54 and under: 60 days
Age 55 to 64: 31 days
Age 65 to 75: 15 days
Age 76 and over: no coverage

If the trip exceeds this number of days, the insured person will not benefit from EMC coverage outside their province of residence

* Please note that these changes will also be incorporated into the Certificate of Insurance and to the Distribution Guide for the World Mastercard^® and the World Elite^® Mastercard^®.

CAA Rewards card

Changes to the pricing of your CAA Rewards card

Incidental charges

	Until July 31, 2019	Effective August 1, 2019
Additional copy of sales slip or monthly statement	$5	$0
Cheque issued for a credit balance	$5	$0
Fee for dishonored account payment	$42.50	$0
Fees for balance transfers: Requested when the credit card account is opened Requested after the opening of the credit card account	1% of the amount of the transaction 3% of the amount of the transaction	$0 $0
Fee for use of Mastercard cheques	3% of the amount of the transaction	$0
Fees for cash advances (per transaction): National Bank ATMs and tellers Other financial institutions in Canada Other financial institutions outside Canada	$3.50 $3.50 $3.50	$0 $0 $0

Other fees

	Until July 31, 2019	Effective August 1, 2019
Overlimit fee (fee charged once each statement period if the balance exceeds the credit limit on the billing date)	$29.00	$0 (province of Quebec only) $29 (outside of Quebec)

Interest rate on purchases

	Until July 31, 2019	Effective August 1, 2019
Regular interest rate on purchases	19.99%	20.99%
Increased interest rate on purchases	24.99%	25.99%
Promotional and reduced rates remain in effect. If a promotion ends after July 31, 2019, the new regular interest rate on purchases of 20.99% will apply. The new increased interest rate on purchases applies in all these cases.

Changes to the Cardholder Agreement for your CAA Rewards card

Payment of your credit card account

Until July 31, 2019

10.1 Minimum Payment

You can make a full or partial payment of the account balance at any time. However, you must make the minimum payment by the due date indicated on your statement. The minimum payment due represents:

For a balance of $10 and more: 2.5% of the credit card account balance plus any overdue payment or $10, whichever amount is higher.
For a balance under $10: the entire credit card account balance.

If you exceed your credit limit, the amount of the minimum payment due will be the highest of the following amounts:

a. 2.5% of the account balance

b. the amount of the overlimit

In case of a partial payment, interest will be calculated as described in section 11 of this agreement.

Effective August 1, 2019

10.1 Minimum Payment

You can make a full or partial payment of the account balance at any time. However, you must make the minimum payment by the due date indicated on your statement. The minimum payment due represents:

For a balance under $10: the entire credit card account balance.
For a balance of $10 and more:

If you reside in the province of Quebec:

If your account was opened on August 1, 2019 or later: the minimum due represents 5% of the credit card account balance plus any overdue payment or $10, whichever amount is higher.
If your account was opened before August 1, 2019: the minimum payment represents the percentage (corresponding to the applicable statement date in the following table) of the credit card account balance plus any overdue payment or $10, whichever amount is higher.

Minimum payments in the province of Quebec for accounts opened before August 1, 2019
Statement date	Minimum payment (% of the account balance)
Before August 1, 2020	2.5%
From August 1, 2020 to July 31, 2021	3.0%
From August 1, 2021 to July 31, 2022	3.5%
From August 1, 2022 to July 31, 2023	4.0%
From August 1, 2023 to July 31, 2024	4.5%
From August 1, 2024 and after	5.0%

If you choose to make a partial payment, the interests will be computed in accordance with section 11 of this agreement.

Change of address

Until July 31, 2019

23. Change of address

Effective August 1, 2019

24. Change of address

Required clauses

New clause - Effective August 1, 2019

26. Clauses required under the Consumer Protection Act (Quebec)

“Clause required under the Consumer Protection Act. (Open credit contract for the use of a credit card)

If the consumer uses all or part of the credit extended to make full or partial payment for the purchase or the lease of goods or for a service, the consumer may, if the open credit contract was entered into on the making of and in relation to the sale, lease or service contract, and if the merchant and the open credit merchant collaborated with a view to granting credit, plead against the lender any ground of defence urgeable against the merchant who is the vendor, lessor, contractor or service provider.
The consumer may also, in the circumstances described in the first paragraph, exercise against the open credit merchant, or against the merchant’s assignee, any right exercisable against the merchant who is the vendor, lessor, contractor or service provider if that merchant is no longer active or has no assets in Québec, is insolvent or is declared bankrupt. The open credit merchant or the merchant’s assignee is then responsible for the performance of the obligations of the merchant who is the vendor, lessor, contractor or service provider up to the amount of, as the case may be, the debt owed to the open credit merchant at the time the contract is entered into, the debt owed to the assignee at the time it was assigned to him or the payment the open credit merchant received if he assigned the debt.
A consumer who is solidarily liable with another consumer for the obligations arising from an open credit contract is released from the obligations resulting from any use of the open credit account after notifying the merchant in writing that he will no longer use the credit extended and no longer intends to be solidarily liable for the other consumer’s future use of the credit extended in advance, and after providing proof to the merchant, on that occasion, that he informed the other consumer by sending him a written notice to that effect at his last known address or technological address.
Any subsequent payment made by the consumer must be applied to the debts contracted before the notice was sent to the merchant.
A consumer who has entered into a preauthorized payment agreement with a merchant under which payments are made out of credit obtained under a credit card contract may end the agreement at any time by sending a notice to the merchant.
On receipt of the notice, the merchant must cease to collect the preauthorized payments.
On receipt of a copy of the notice, the card issuer must cease debiting the consumer’s account to make payments to the merchant.
The consumer is not liable for debts resulting from the use of a credit card by a third person after the card issuer has been notified, by any means, of the loss, theft or fraudulent use of the card or of any other use of the card not authorized by the consumer. Even if no notice was given, consumer liability for the unauthorized use of a credit card is limited to $50. The consumer is held liable for the losses incurred by the card issuer if the latter proves that the consumer committed a gross fault as regards the protection of the related personal identification number.
Without delay at the end of each period, the merchant must send the consumer a statement of account.The merchant is not required to send a statement of account to the consumer at the end of any period if there have been no advances or payments during the period and the outstanding balance at the end of the period is zero.
If the consumer makes a payment at least equal to the outstanding balance at the end of the preceding period within 21 days after the date of the end of the period, no credit charges may be required from the consumer on that outstanding balance, except as regards money advances. In the case of a money advance, charges may accrue as of the date of the advance until the date of payment.
The consumer may demand that the merchant send, without charge, a copy of the vouchers for each of the transactions charged to the account during the period covered by the statement.The merchant must send the copy of the vouchers requested within 60 days after the date the consumer’s request was sent.
Until the consumer receives a statement of account at his address or technological address if expressly authorized by the consumer, the merchant must not claim credit charges on the unpaid balance, except as regards money advances.

Changes to the terms and conditions of the National Bank CAA Rewards^© Mastercard^MD Program

Operations that do not earn points

Until July 31, 2019

4.2 CAA Dollars are not earned on cash advances, balance transfers, cashlike transactions, Mastercard cheques, payments, credits, interest charges, foreign exchange fees, credit insurance premiums or other fees and charges.

Effective August 1, 2019

4.4 You cannot earn CAA Dollars on the following transactions that are made with your Credit Card, which do not qualify as eligible purchases: cash advances, balance transfers, cash-like transactions, Mastercard cheques, payments and credits to the Credit Card account, interest charges, non-interest charges (e.g. annual fees, balance transfer fees, currency conversion fees, insurance premiums and fees for Mastercard cheques) and purchase returns.

Assigning a monetary value to points

Until July 31, 2019

6.1 CAA Dollars have no cash, monetary or other value and cannot be converted into currency. The redemption of CAA Dollars from a CAA Membership Account is governed by the terms and conditions established by the relevant CAA Club which are separate and distinct from the Program.

Effective August 1, 2019

6.2 CAA Dollars have no cash, monetary or other value and cannot be converted into currency, unless the Credit Card account is closed and the amount of CAA Dollars to be issued is negative

Termination of the program

Until July 31, 2019

7.1 Following a 90 day written notice, we may terminate your participation in the Program.

Effective August 1, 2019

7.1 Following a 90 day written notice, we may terminate your participation in the Program. You will then have 12 months from the termination of the Program to exchange your CAA Dollars. In this case, we will transfer to the relevant CAA Club, the information on the CAA Dollars to be assigned to your CAA Account.

Change of insurer for your CAA Rewards card

Coverage summary

The definitions of the words in italics in this present section can be found in your new Insurance Certificate and Distribution Guide that will be available at nbc.ca/caa as of August 1, 2019.

Coverage

Purchase and extended warranty insurance for new items covered

For losses on or before July 31, 2019

• Theft, loss or damage for 90 days following the purchase of a new item with the credit card

• Double the manufacturer’s warranty period up to an additional year

• Maximum of $60,000 for the entire period the account is held

For losses on or after August 1, 2019

• Theft or damage for 90 days following the date of purchase of a new item with the credit card

• Double the manufacturer’s warranty period up to an additional year

• Maximum of $60,000 for the entire period the account is held

Coverage

Baggage insurance for a trip

For losses on or before July 31, 2019

Baggage delayed (more than 4 hours)

Up to $300 for the emergency purchase of essential items (limited to $100 a day per insured person for up to 3 days)

For losses on or after August 1, 2019

Lost, damaged, stolen or delayed (more than 6 hours) baggage

Up to a total of $1,000 per insured person

Delayed baggage: up to $500 for basic necessities
Lost, damage or stolen baggage: cost of the item, maximum $250
Replacement fees for (lost or stolen) travel documents: up to a total of $50

Coverage

Accidental death and dismemberment aboard a common carrier during a trip

For losses on or before July 31, 2019

Up to $1,000,000 in the event of loss of life, limbs, sight, speech or hearing due to an accident aboard a common carrier during a trip

For losses on or after August 1, 2019

Up to $500,000 in the event of death, or loss or loss of use of limbs further to an accident aboard a common carrier during a trip

Up to $33 per day for hospitalization (7 days in a row or more) if accidental dismemberment benefit payable (maximum of 365 days per accident)

Important - Coverage and terms applicable after the change of insurer

For baggage insurance and accidental death and dismemberment insurance aboard a common carrier, the coverage as well as the terms and conditions that apply are those in effect when the trip is taken.

For purchase and extended warranty insurance, the terms and conditions that apply are those in effect when the incident occurs.

Amendments to certain clauses, exclusions, limitations and warranty reductions

Purchase and extended warranty insurance

The following items have been added to the list of items excluded from purchase insurance. They are therefore not covered.

Gift cards
Electronic tablets, mobile phones, laptops and software
Heat pumps and any other heating or air conditioning devices
Drones and any other remote-controlled flying device

The following situations have been added to the list of exclusions for purchase insurance. No benefit is payable if the loss results from:

Professional use of an item intended for personal use;
Damage caused by corrosion or mould;
Damage caused by insects or animals.

The following items have been added to the list of items excluded from extended warranties. They are therefore not covered.

Used or second-hand items
Heat pumps and any other heating or air conditioning devices

Accidental death and dismemberment aboard a common carrier

To benefit from coverage, only a portion of the cost of the trip needs to have been charged to the account prior to departure, as opposed to previously when the total cost of accommodations and the main trip needed to have been charged to the account.

Coverage and claim amounts

Until July 31, 2019

Loss of life	$1 000 000
Loss of both hands and/or both feet	$1 000 000
Loss of one foot or one hand and loss of sight of one eye	$1 000 000
Loss of sight of both eyes	$1 000 000
Loss of speech and hearing	$1 000 000
Loss of one hand or one foot	$500 000
Loss of sight of one eye	$500 000
Loss of speech or hearing	$500 000
Loss of thumb and index finger on the same hand	$250 000

Effective August 1, 2019

Loss of life	$500 000
Loss or loss of use of 2 or more limbs	$500 000
Loss or loss of use of 1 limb	$250 000
Loss or loss of use of the thumb and index finger on one hand	$125 000

Coverage period

Coverage:

takes effect when the insured person starts to board the common carrier for an eligible trip; and
is terminated when the insured person has gotten off the common carrier.

Previously, the coverage could be in effect prior to the insured person boarding the common carrier if the total cost of the ticket for the common carrier had been charged to the account prior to departure for the airport, terminus or station, in accordance with certain terms and conditions, exclusions and limitations.

Exclusions, limitations, warranty reductions

The following situations have been clarified or added to the list of exclusions for accidental death and dismemberment insurance aboard a common carrier. No benefit is payable if the event leading to the claim for benefits is directly or indirectly related to:

A war (declared or not), an invasion, hostilities between nations, a civil war, a rebellion, insurrection, coup or terrorist act
A criminal offense or intended criminal offense, or participation in a criminal offense
Injury suffered by the insured person while they are travelling aboard a common carrier in a capacity other than as a passenger
Injury aboard a common carrier without the carrier being involved in an accident

Syncro, ECHO Cashback, mycredit, MC1 and Regular cards

Changes to the pricing of your Syncro, ECHO Cashback, mycredit, MC1 or Regular card

Incidental charges

	Until July 31, 2019	Effective August 1, 2019
Additional copy of sales slip or monthly statement	$5	$0
Cheque issued for a credit balance	$5	$0
Fee for dishonored account payment	$42.50	$0
Fees for balance transfers: Requested when the credit card account is opened Requested after the opening of the credit card account	1% of the amount of the transaction 3% of the amount of the transaction	$0 $0
Fee for use of Mastercard cheques	3% of the amount of the transaction	$0
Fees for cash advances (per transaction): National Bank ATMs and tellers Other financial institutions in Canada Other financial institutions outside Canada	$3.50 $3.50 $3.50	$0 $0 $0

Other fees

	Until July 31, 2019	Effective August 1, 2019
Overlimit fee (fee charged once each statement period if the balance exceeds the credit limit on the billing date)	$29.00	$0 (province of Quebec only) $29 (outside of Quebec)

Interest rate on purchases

	Until July 31, 2019	Effective August 1, 2019
Regular interest rate on purchases	19.99%	20.99%
Increased interest rate on purchases	24.99%	25.99%
The Syncro card is not affected by the rise in interest rate on purchases. Promotional and reduced rates remain in effect. If a promotion ends after July 31, 2019, the new regular interest rate on purchases of 20.99% will apply. The new increased interest rate on purchases applies in all these cases.

Changes to the Cardholder Agreement for your Syncro, ECHO Cashback, mycredit, MC1 or Regular card

Payment of your credit card account

Until July 31, 2019

10.1 Minimum Payment

You can make a full or partial payment of the account balance at any time. However, you must make the minimum payment by the due date indicated on your statement. The minimum payment due represents:

For a balance of $10 and more: 2.5% of the credit card account balance plus any overdue payment or $10, whichever amount is higher.
For a balance under $10: the entire credit card account balance.

If you exceed your credit limit, the amount of the minimum payment due will be the highest of the following amounts:

a. 2.5% of the account balance

b. the amount of the overlimit

In case of a partial payment, interest will be calculated as described in section 11 of this agreement.

Effective August 1, 2019

10.1 Minimum Payment

You can make a full or partial payment of the account balance at any time. However, you must make the minimum payment by the due date indicated on your statement. The minimum payment due represents:

For a balance under $10: the entire credit card account balance.
For a balance of $10 and more:

If you reside in the province of Quebec:

If your account was opened on August 1, 2019 or later: the minimum due represents 5% of the credit card account balance plus any overdue payment or $10, whichever amount is higher.
If your account was opened before August 1, 2019: the minimum payment represents the percentage (corresponding to the applicable statement date in the following table) of the credit card account balance plus any overdue payment or $10, whichever amount is higher.

Minimum payments in the province of Quebec for accounts opened before August 1, 2019
Statement date	Minimum payment (% of the account balance)
Before August 1, 2020	2.5%
From August 1, 2020 to July 31, 2021	3.0%
From August 1, 2021 to July 31, 2022	3.5%
From August 1, 2022 to July 31, 2023	4.0%
From August 1, 2023 to July 31, 2024	4.5%
From August 1, 2024 and after	5.0%

If you choose to make a partial payment, the interests will be computed in accordance with section 11 of this agreement.

Change of address

Until July 31, 2019

23. Change of address

Effective August 1, 2019

24. Change of address

Required clauses

New clause - Effective August 1, 2019

26. Clauses required under the Consumer Protection Act (Quebec)

“Clause required under the Consumer Protection Act. (Open credit contract for the use of a credit card)

If the consumer uses all or part of the credit extended to make full or partial payment for the purchase or the lease of goods or for a service, the consumer may, if the open credit contract was entered into on the making of and in relation to the sale, lease or service contract, and if the merchant and the open credit merchant collaborated with a view to granting credit, plead against the lender any ground of defence urgeable against the merchant who is the vendor, lessor, contractor or service provider.
The consumer may also, in the circumstances described in the first paragraph, exercise against the open credit merchant, or against the merchant’s assignee, any right exercisable against the merchant who is the vendor, lessor, contractor or service provider if that merchant is no longer active or has no assets in Québec, is insolvent or is declared bankrupt. The open credit merchant or the merchant’s assignee is then responsible for the performance of the obligations of the merchant who is the vendor, lessor, contractor or service provider up to the amount of, as the case may be, the debt owed to the open credit merchant at the time the contract is entered into, the debt owed to the assignee at the time it was assigned to him or the payment the open credit merchant received if he assigned the debt.
A consumer who is solidarily liable with another consumer for the obligations arising from an open credit contract is released from the obligations resulting from any use of the open credit account after notifying the merchant in writing that he will no longer use the credit extended and no longer intends to be solidarily liable for the other consumer’s future use of the credit extended in advance, and after providing proof to the merchant, on that occasion, that he informed the other consumer by sending him a written notice to that effect at his last known address or technological address.
Any subsequent payment made by the consumer must be applied to the debts contracted before the notice was sent to the merchant.
A consumer who has entered into a preauthorized payment agreement with a merchant under which payments are made out of credit obtained under a credit card contract may end the agreement at any time by sending a notice to the merchant.
On receipt of the notice, the merchant must cease to collect the preauthorized payments.
On receipt of a copy of the notice, the card issuer must cease debiting the consumer’s account to make payments to the merchant.
The consumer is not liable for debts resulting from the use of a credit card by a third person after the card issuer has been notified, by any means, of the loss, theft or fraudulent use of the card or of any other use of the card not authorized by the consumer. Even if no notice was given, consumer liability for the unauthorized use of a credit card is limited to $50. The consumer is held liable for the losses incurred by the card issuer if the latter proves that the consumer committed a gross fault as regards the protection of the related personal identification number.
Without delay at the end of each period, the merchant must send the consumer a statement of account.The merchant is not required to send a statement of account to the consumer at the end of any period if there have been no advances or payments during the period and the outstanding balance at the end of the period is zero.
If the consumer makes a payment at least equal to the outstanding balance at the end of the preceding period within 21 days after the date of the end of the period, no credit charges may be required from the consumer on that outstanding balance, except as regards money advances. In the case of a money advance, charges may accrue as of the date of the advance until the date of payment.
The consumer may demand that the merchant send, without charge, a copy of the vouchers for each of the transactions charged to the account during the period covered by the statement.The merchant must send the copy of the vouchers requested within 60 days after the date the consumer’s request was sent.
Until the consumer receives a statement of account at his address or technological address if expressly authorized by the consumer, the merchant must not claim credit charges on the unpaid balance, except as regards money advances.

Allure and Edition cards

Changes to the pricing of your Allure or Edition card

Incidental charges

	Until July 31, 2019	Effective August 1, 2019
Additional copy of sales slip or monthly statement	$5	$0
Cheque issued for a credit balance	$5	$0
Fee for dishonored account payment	$42.50	$0
Fees for balance transfers: Requested when the credit card account is opened Requested after the opening of the credit card account	1% of the amount of the transaction 3% of the amount of the transaction	$0 $0
Fee for use of Mastercard cheques	3% of the amount of the transaction	$0
Fees for cash advances (per transaction): National Bank ATMs and tellers Other financial institutions in Canada Other financial institutions outside Canada	$3.50 $3.50 $3.50	$0 $0 $0

Other fees

	Until July 31, 2019	Effective August 1, 2019
Overlimit fee (fee charged once each statement period if the balance exceeds the credit limit on the billing date)	$29.00	$0 (province of Quebec only) $29 (outside of Quebec)

Interest rate on purchases

	Until July 31, 2019	Effective August 1, 2019
Regular interest rate on purchases	19.99%	20.99%
Increased interest rate on purchases	24.99%	25.99%
Promotional and reduced rates remain in effect. If a promotion ends after July 31, 2019, the new regular interest rate on purchases of 20.99% will apply. The new increased interest rate on purchases applies in all these cases.

Changes to the Cardholder Agreement for your Allure or Edition card

Minimum Payment

Until July 31, 2019

10.1 Minimum Payment

You can make a full or partial payment of the account balance at any time. However, you must make the minimum payment by the due date indicated on your statement. The minimum payment due represents:

For a balance of $10 and more: 2.5% of the credit card account balance plus any overdue payment or $10, whichever amount is higher.
For a balance under $10: the entire credit card account balance.

If you exceed your credit limit, the amount of the minimum payment due will be the highest of the following amounts:

a. 2.5% of the account balance

b. the amount of the overlimit

In case of a partial payment, interest will be calculated as described in section 11 of this agreement.

Effective August 1, 2019

10.1 Minimum Payment

You can make a full or partial payment of the account balance at any time. However, you must make the minimum payment by the due date indicated on your statement. The minimum payment due represents:

For a balance under $10: the entire credit card account balance.
For a balance of $10 and more:

If you reside in the province of Quebec:

If your account was opened on August 1, 2019 or later: the minimum due represents 5% of the credit card account balance plus any overdue payment or $10, whichever amount is higher.
If your account was opened before August 1, 2019: the minimum payment represents the percentage (corresponding to the applicable statement date in the following table) of the credit card account balance plus any overdue payment or $10, whichever amount is higher.

Minimum payments in the province of Quebec for accounts opened before August 1, 2019
Statement date	Minimum payment (% of the account balance)
Before August 1, 2020	2.5%
From August 1, 2020 to July 31, 2021	3.0%
From August 1, 2021 to July 31, 2022	3.5%
From August 1, 2022 to July 31, 2023	4.0%
From August 1, 2023 to July 31, 2024	4.5%
From August 1, 2024 and after	5.0%

If you choose to make a partial payment, the interests will be computed in accordance with section 11 of this agreement.

Change of address

Until July 31, 2019

23. Change of address

Effective August 1, 2019

24. Change of address

Required clauses

New clause - Effective August 1, 2019

26. Clauses required under the Consumer Protection Act (Quebec)

“Clause required under the Consumer Protection Act. (Open credit contract for the use of a credit card)

If the consumer uses all or part of the credit extended to make full or partial payment for the purchase or the lease of goods or for a service, the consumer may, if the open credit contract was entered into on the making of and in relation to the sale, lease or service contract, and if the merchant and the open credit merchant collaborated with a view to granting credit, plead against the lender any ground of defence urgeable against the merchant who is the vendor, lessor, contractor or service provider.
The consumer may also, in the circumstances described in the first paragraph, exercise against the open credit merchant, or against the merchant’s assignee, any right exercisable against the merchant who is the vendor, lessor, contractor or service provider if that merchant is no longer active or has no assets in Québec, is insolvent or is declared bankrupt. The open credit merchant or the merchant’s assignee is then responsible for the performance of the obligations of the merchant who is the vendor, lessor, contractor or service provider up to the amount of, as the case may be, the debt owed to the open credit merchant at the time the contract is entered into, the debt owed to the assignee at the time it was assigned to him or the payment the open credit merchant received if he assigned the debt.
A consumer who is solidarily liable with another consumer for the obligations arising from an open credit contract is released from the obligations resulting from any use of the open credit account after notifying the merchant in writing that he will no longer use the credit extended and no longer intends to be solidarily liable for the other consumer’s future use of the credit extended in advance, and after providing proof to the merchant, on that occasion, that he informed the other consumer by sending him a written notice to that effect at his last known address or technological address.
Any subsequent payment made by the consumer must be applied to the debts contracted before the notice was sent to the merchant.
A consumer who has entered into a preauthorized payment agreement with a merchant under which payments are made out of credit obtained under a credit card contract may end the agreement at any time by sending a notice to the merchant.
On receipt of the notice, the merchant must cease to collect the preauthorized payments.
On receipt of a copy of the notice, the card issuer must cease debiting the consumer’s account to make payments to the merchant.
The consumer is not liable for debts resulting from the use of a credit card by a third person after the card issuer has been notified, by any means, of the loss, theft or fraudulent use of the card or of any other use of the card not authorized by the consumer. Even if no notice was given, consumer liability for the unauthorized use of a credit card is limited to $50. The consumer is held liable for the losses incurred by the card issuer if the latter proves that the consumer committed a gross fault as regards the protection of the related personal identification number.
Without delay at the end of each period, the merchant must send the consumer a statement of account.The merchant is not required to send a statement of account to the consumer at the end of any period if there have been no advances or payments during the period and the outstanding balance at the end of the period is zero.
If the consumer makes a payment at least equal to the outstanding balance at the end of the preceding period within 21 days after the date of the end of the period, no credit charges may be required from the consumer on that outstanding balance, except as regards money advances. In the case of a money advance, charges may accrue as of the date of the advance until the date of payment.
The consumer may demand that the merchant send, without charge, a copy of the vouchers for each of the transactions charged to the account during the period covered by the statement.The merchant must send the copy of the vouchers requested within 60 days after the date the consumer’s request was sent.
Until the consumer receives a statement of account at his address or technological address if expressly authorized by the consumer, the merchant must not claim credit charges on the unpaid balance, except as regards money advances.

The following changes only apply to the Allure and Edition cards with a cashback program.

Changes to the Cashback program applicable rules for your Allure or Edition card

Cashback does not replace the minimum payment

New clause - Effective August 1, 2019

4.1 When you benefit from a cashback, the minimum payment remains due and payable. The cashback does not replace your minimum payment. It only reduces the balance of your credit card account.

Termination or modification of the cashback program

New clause - Effective August 1, 2019

4.2 National Bank reserves the right to terminate the cashback program at any time, following a 90 day prior notice. National Bank also reserves the right to modify the rules with a 60 day prior notice, drafted clearly and legibly. This notice may be sent to you by electronic transmission, when applicable. You may refuse a change by terminating your credit card agreement, without cost, penalty or cancellation indemnity, no later than 30 days after the change comes into effect. In particular, you may refuse a change when such a change increases your obligations or reduces our obligations under the agreement.

If your card is lost, stolen or replaced

Until July 31, 2019

4.3 If your Card is lost, stolen or replaced for any other reason, points accumulated will automatically be transferred to your new account when a Card with cashback is issued to you.

Effective August 1, 2019

4.4 If your Card is lost or stolen, the points you have accumulated will stay in your account.

4.5 If you replace your Card for any other reason than loss or theft, the points accumulated will automatically be transferred to your new account when a Card with cashback is issued to you. If you replace your Card for another National Bank credit card that does not offer a rewards program, your Card account will be closed.

Closure of the account and cashback applied to the account balance

Important notices

Changes to credit cards

Changes to the pricing of your Platinum, World or World Elite card

Changes to the Cardholder Agreement for your Platinum, World or World Elite card

Changes to the À la carte Rewards plan applicable rules for your Platinum, World or World Elite card

Changes to the insurance coverage of your Platinum, World or World Elite card

Changes to the pricing of your CAA Rewards card

Changes to the Cardholder Agreement for your CAA Rewards card

Changes to the terms and conditions of the National Bank CAA Rewards© MastercardMD Program

Change of insurer for your CAA Rewards card

Changes to the pricing of your Syncro, ECHO Cashback, mycredit, MC1 or Regular card

Changes to the Cardholder Agreement for your Syncro, ECHO Cashback, mycredit, MC1 or Regular card

Changes to the pricing of your Allure or Edition card

Changes to the Cardholder Agreement for your Allure or Edition card

Changes to the Cashback program applicable rules for your Allure or Edition card

Changes to the terms and conditions of the National Bank CAA Rewards^© Mastercard^MD Program