Best MBNA Credit Cards in Canada for 2024
Low annual fee
Low standard purchase interest rates
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Low annual fee: $39
Low interest rates: The standard purchase rate is 8.99% after the promotional balance transfer rate period ends for the MBNA True Line® Gold Mastercard®
This card from MBNA is considered to be even better than the MBNA True Line® Mastercard®. The Gold version, despite coming with a $39 annual fee, allows you to get an even better interest for purchases and balance transfers.
You'll only have to pay 8.99%, instead of the 12.99% for the standard card. Compared to the 19.99% or 22.99%, which are the standard rates offered by most card providers out there, the MBNA True Line® Gold Mastercard® is definitely one of the most attractive cards you can get in 2021.
Additionally, this card allows you to add up to 9 authorized users at no cost at all, so all of them can benefit from the low-interest rate.
If you're quite into reward points and you spend a lot of money on groceries, gas and travelling, then the MBNA Rewards World Elite® Mastercard® is an excellent choice for you. With this card, you can earn 2 points for every dollar you spend. However, the introductory offer is simply exceptional.
During the first 3 months, you can earn up to 30,000 points, which are worth over $30. You can continue earning points and use them when shopping on the MBNA Rewards Catalogue, travelling, or even to improve your balance.
Compared to any other reward cards offered by MBNA, the World Elite is the only one that comes with free concierge service, extended coverage and price protection of up to 60 days.
However, in order to get your hands on this card, you'll have to meet the requirements: earn more than $80k a year solo, or $150k as a household. You also need to be willing to pay $120 a year, which could be quite a lot. Nonetheless, this card is worth its price, especially if you're travelling a lot and you love concierge services.
Author Bio
Mohamed Konate is a personal finance expert, blogger, and marketing consultant based in Toronto. He is a former financial services professional who worked at major Canadian financial institutions for many years. He managed the marketing strategy around various financial products ranging from credit cards to lines of credit. Mohamed is passionate about personal finance and holds a Bachelor's in Business Administration from the University of Quebec (Montreal) and a Master's in International Business from the University of Sherbrooke (Quebec). He is also the author of the Canadian Credit Card Guidebook.