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
Average balance
$500
$3,000
22.49%
$9.24
$55.45
20.99%
$8.63
$51.76
12.90%
$5.30
$31.81
8.9%
$3.66
$21.95
*Variable interest rate in effect on September 1, 2021Balance transfer and cash advance are subject to credit approval by National Bank. Each balance transfer must be at least $250.