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Compare MBNA Credit Cards in Canada

 
Welcome Bonus Value Estimated dollar value of the credit card welcome bonus
Annual Fee The annual fee on a credit card is a fee you pay each year to use the card
Purchase APR The interest Percentage Rate applied to all purchases you make with your credit card.
Cash Advance APR The Annual Percentage Rate applied if you used your card to get funds via ATM.
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MBNA Credit Cards

 

If you’ve never heard of MBNA Mastercards, you’re probably not alone. It is one of the lesser known credit cards available, despite the fact they offer what adds up to a very impressive range of credit cards. They are also owned by TD Bank, one of Canada’s “Big Five” which might give you a little more confidence to look into what they offer. Here we look at the top MBNA credit cards, their benefits, and drawbacks in hand with how they compare to other cards out there.


MBNA Credit Cards Overview

 

MBNA offers 14 Mastercards in total covering all of the categories you expect, with a few unusually branded options available like Harley Davidson. Categories cover:

  • Low Interest
  • No Annual Fee
  • Cashback
  • Rewards
  • Travel
  • Retail

Once people discover MBNA they are sold thanks to their suitability for a wide number of needs and highly flexible rewards programs. They also offer instant approval when you apply online.


MBNA Credit Card Benefits and Perks

 

Here are some of the top-rated MBNA Mastercards:

 

MBNA Rewards Platinum Plus® Mastercard®

This is a winner thanks to its high rewards with a lot of different redemption options. Add to this the exceptional insurance and the fact there’s no annual fee and you can’t go wrong. Benefits include: 

  • Welcome bonus up to 14,200 bonus points
  • 2 points per $1 spent on gas, groceries, and restaurants (up to $5,000 annually on each category)
  • 1 point per $1 spent on all other purchases
  • Double your points for the first three months on bonus categories
  • Earn 10,000 bonus points after making one purchase if you sign up for e-statements within 90 days
  • 7 types of travel and purchase protection insurance

 

MBNA Smart Cash Platinum Plus® Mastercard®

What is really attractive about this card is the welcome bonus of 5% cashback on gas and groceries for the first 6 months. The other perks of the card include:

  • 2% cashback on eligible gas and grocery purchases, up to a combined spend of $500 per month
  • 5% cashback on all other eligible purchases
  • 7 types of complimentary travel insurance
  • Purchase protection
  • 3 types of rental car insurance
  • No annual fee

 

MBNA True Line® Gold Mastercard® credit card

If you’re looking for a low interest rate and no annual fee this is the card for you. At just 8.99% on both purchases and balance transfers, you can start to pay down your high-interest credit card debt faster while also enjoying less interest on any new purchases you make.

 

MBNA Rewards World Elite® Mastercard®

Combine flexible rewards with this long list of premium perks and it’s difficult to find a better credit card than the MBNA Rewards World Elite Mastercard®:

  • 2 points for every dollar spent
  • No tiers or caps
  • Cash value is increased to 0.83 cents per point
  • 20,000 bonus points after spending $2,000 in the first 3 months
  • 10,000 bonus points when you sign up for e-statements within 90 days
  • 8 types of insurance
  • Price protection coverage

 

Alaska Airlines Platinum Plus® Mastercard®

At the start, you might think this isn’t a great option for a travel rewards card since you would never have a chance to fly with Alaska Airlines. However, they have partnerships with the popular airlines you would travel with so you could earn big with their Mileage Plan™ miles. Benefits include:

  • Travel with any of their 18 partner airlines which includes major players such as American Airlines, British Airways, Quantas and Cathay to name a few
  • 1 mile for every $1 spent
  • 3 miles on purchases made with Alaska Airlines
  • Save money on flights using Miles you earn on every eligible purchase
  • 20,000 bonus Miles after you spend $1,000 or more on eligible purchases in the first 90 days
  • Famous Companion Fare™ every year on your account anniversary for $121(USD) towards a companion’s round trip
  • No income requirement to qualify

 

MBNA Credit Card Drawbacks

 

There are a few drawbacks with MBNA credit cards including a limited premium MBNA credit card offering. With just two to consider, you might find better choices from competitors depending on what you are looking for. Also, pay close attention to your return rates for rewards cards because some can be as high as 2.3% but others are quite low at around 0.5%.

Looking at specific cards, while the MBNA Rewards Platinum Plus® Mastercard® offers some perks, if you tend to take cash advancements more often, you’ll be paying a high 24.99% interest rate. The same applies to their low interest rate card the MBNA True Line® Gold Mastercard® credit card. One last card-specific drawback is the $120 annual fee for the MBNA Rewards World Elite® Mastercard®.

 

How do MBNA credit cards compare to other banks?

 

All in all, they stand up quite well. However, when you look at the drawbacks you get a feel for where they might pale in comparison. One of the worst areas is how high their interest rates are for cash advances. While most credit cards are about 19.99% for purchases and around 22.99% for cash advances, their cash advance can jump to 24.99%.


How to choose the right MBNA credit card for your need?

 

There really is never a best card when you look at credit cards from an overall standpoint, because there are just too many variables to consider. You have to consider not only what you want feature-wise in your credit card, but also things like the credit score or income required to qualify. This helps narrow down your choices so you can choose the right card for your personal needs.

However, our overview here recommends the MBNA True Line® Gold Mastercard® credit card for low interest, transfer balance seekers and the MBNA Rewards Platinum Plus® Mastercard® if you’re looking for high rewards. For travellers you should consider the Alaska Airlines Platinum Plus® Mastercard® and for flexibility, it’s all about the MBNA Rewards World Elite® Mastercard®.

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