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What are the best MBNA credit in Canada?

Woman using credit card on cellphone

When it comes to credit cards, MBNA may not be a brand that sticks out, but they have an incredible portfolio of cards. No fee, balance transfer, travel rewards, cash back and more, they’ll definitely have something that meets your needs.

If you haven’t heard of MBNA, there’s a reason for it. They’re not splashy and aren’t trying to sell you on different products. They focus entirely on credit cards which is why some of their products are so popular. TD actually acquired MBNA Canada back in 2011, so there’s no need to worry about the credibility of the company.

With more than a dozen credit cards from MBNA available, it can be hard to pick the right card for you. We’ve analyzed all of their cards and have figured out which are the best depending on your needs.

The Best MBNA Credit Cards in Canada


Best Overall MBNA Credit Card: MBNA True Line® Mastercard®

MBNA True Line Mastercard

Although the MBNA True Line® Mastercard® doesn’t earn you any rewards, it’s the best overall MBNA credit card since it has a low interest rate and no annual fee. This card is great for people who are looking to reduce their debt since it comes with an optional balance transfer where you’ll pay 0% interest for 10 months as long as you complete the transfer within 90 days of opening your account. Once the promotional period ends, your interest rate goes up to 12.99%. There’s a fee of 3% on the funds advanced (minimum fee of $7.50), but that’s likely still worth it considering most credit cards charge 19.99% or more interest.

Not getting any rewards will be disappointing to some people, but if you’re finding it difficult to make your payments or you want to reduce your debt, then the MBNA True Line® Mastercard® should be one of the first credit cards you look at.

Credit score requirement for approval:

Good: To be approved for this card, you’re going to need a fair-good credit score, so 670 or higher.

Annual fee:

No annual fee

Limited time offer/bonus:

  • 0% annual interest rate for the first 10 months on balance transfers completed with 90 days of account opening. A 3% fee does apply with a minimum fee of $7.50 CAD

Other perks:

  • Save 10% off the base rates in Canada and the U.S., and a minimum of 5% off internationally at Avis Rent A Car and Budget Rent A Car locations

Best MBNA Travel Credit Card: MBNA Rewards World Elite® Mastercard®

MBNA_Rewards_WE.png

Some credit cards make earning reward points complicated by offering more points for certain categories, but with the MBNA Rewards World Elite® Mastercard®, you earn 2 points per $1 spent on all purchases. This is great for people who prefer a credit card that’s easy to understand and comes packed with benefits.

Credit score requirement for approval:

Good: You’ll need a credit score of 670 or higher to be approved for this card.

Annual fee:

$120

Limited time offer/bonus:

  • 20,000 points after you charge $2,000 to your card within 90 days of opening your account
  • 10,000 points when you enroll for paperless e-statements within 90 days of opening your account

Rewards:

  • Earn 2 points for every dollar spent on all eligible purchases

Earning potential:

How does this card stack up to other rewards credit cards? We crunched the numbers using our Best of Finance methodology to see how much an average Canadian could earn over a 24-month period.

  • Rewards earned over a 24-month period = 106,800 points (includes welcome bonus)
  • Monetary value = $1,068
  • Annual fee (x2 for 24-month period) = $240
  • Total earned over a 24-month period (rewards minus annual fee) = $828

Insurance:

  • Travel Accident - $1,000,000
  • Trip Interruption - $2,000
  • Car rental theft and damage
  • Extended warranty
  • Purchase assurance

Other perks:

  • Save 10% off the base rates in Canada and the U.S., and a minimum of 5% off internationally at Avis Rent A Car and Budget Rent A Car locations
  • Price protection

Best MBNA Cash Back Card: MBNA Smart Cash World Mastercard®

MBNA SmartCash World Mastercard

If travel rewards don’t interest you, then the MBNA Smart Cash World® Mastercard® is something you want to consider. The annual fee of $39 is reasonable for a card that gives you concierge service and price protection which are typically premium benefits. As for the earn rate, you get 2% cash back on gas and grocery purchases ($500 monthly combined spend cap) and 1% on all other purchases. When you look at all the other benefits included with the MBNA Smart Cash World® Mastercard®, it’s easy to see why this card is popular.

Credit score requirement for approval:

Good: Like many MBNA cards, your credit score should be 670 or higher if you want to be approved

Annual fee:

$39

Limited time offer/bonus:

  • 5% Cash back on gas and groceries purchases for the first 6 months ($500 monthly combined spend cap)
  • 1% Cash back on all other purchases for the first 6 months

Rewards:

  • After the promotional period ends, your earn rate is 2% cash back on gas and groceries purchases ($500 monthly combined spend cap) and 1% on all other purchases

Earning potential:

  • Cash back over a 24-month period = $594 (includes welcome bonus)
  • Annual fee (x2 for 24-month period) = $78
  • Total earned over a 24-month period (cash back minus annual fee) = $516

Insurance:

  • Travel Accident - $1,000,000
  • Trip Interruption - $2,000
  • Car rental theft and damage
  • Extended warranty
  • Purchase assurance

Other perks:

  • Save 10% off the base rates in Canada and the U.S., and a minimum of 5% off internationally at Avis Rent A Car and Budget Rent A Car locations
  • Price protection