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MBNA, headquartered in Ottawa, is a part of The Toronto-Dominion Bank and is one of Canada’s leading co-branded and affinity credit card providers. MBNA offers Canadians a selection of great credit cards to choose from, making it easy for you to pick the best credit card for your lifestyle.
When it comes to credit cards, MBNA may not be a brand that sticks out, but they have an incredible portfolio of cards. They’ll have something that meets your needs, from no fee to balance transfer cards, travel rewards to cash back and more. 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 cards are so popular. TD 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.
| Our top picks |
|||
|---|---|---|---|
| Credit card |
Great features |
Annual fee | First-year value* |
| 1. MBNA True Line® Mastercard® |
|
$0 | $0 |
| 2. MBNA Rewards World Elite® Mastercard® |
|
$120 | $660 |
| 3. MBNA Smart Cash World® Mastercard® |
|
$39 | $396 |
| 4. MBNA Rewards Platinum Plus® Mastercard® |
|
$0 | $503 |
Although the MBNA True Line® Mastercard® doesn’t offer 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 looking to reduce their debt and pay less interest. The card features a standard annual interest rate of 12.99% on purchases and balance transfers. A balance transfer fee of 1% of the amount transferred does apply (minimum fee of $7.50). However, it’s worth considering this option as most credit cards have interest rates of 19.99%, considerably higher than this card.
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 research.
Credit score requirement for approval:
Good: To be approved for this card, you’re going to need a fair-good credit score, so 660 or higher.
Annual fee:
No annual fee
Other perks:
Some credit cards make earning reward points complicated by offering more points for specific categories and fewer points for others. With the MBNA Rewards World Elite® Mastercard®, you can earn two points for every $1 spent on all purchases — simple and straightforward. This type of card 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 660 or higher to be approved for this card.
Annual fee:
$120
Limited time offer/bonus:
Offer expiry date: N/A subject to change without notice
Rewards:
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 12-month period.
Rewards earned over a 12-month period = 78,000 points
Monetary value = $780
Annual fee= $120
Total earned over the first year (rewards minus annual fee) = $660
Insurance:
Other perks:
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 services 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 it 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:
Offer expiry date: N/A subject to change without notice
Rewards:
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 12-month period.
Rewards earned over a 12-month period = $435
Annual fee= $39
Total earned over the first year (rewards minus annual fee) = $396
Insurance:
Other perks:
Apply for the MBNA Rewards Platinum Plus® Mastercard® and get four times the MBNA Rewards points for every $1 spent on grocery, restaurant, digital media, membership, and household utility purchases for the first 90 days (about three months), up to the $10,000 spending cap in each of these categories annually.
According to our Best of Finance methodology, the average Canadian will see $503 in MBNA Rewards points within the first year.
Credit score requirement for approval:
Good: You’ve had a credit card or loan for at least six years. You’ve had good credit for the last seven years (no bankruptcies or defaults on credit as a result of failing to pay debts back to creditors). You haven’t opened a new credit card account, loan, or line of credit in the last nine months. You’ve made the minimum payments on any existing credit cards for the past three months.
Annual fee:
$0
Limited time offer/bonus:
This offer is not available for residents of Quebec. For residents of Quebec, please click here.
Offer expiry date: N/A subject to change without notice
Rewards:
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 12-month period.
Rewards earned over a 12-month period = 50,300 points
Monetary value= $503
Annual fee = $0
Total earned over the first year (rewards minus annual fee) = $503
You can redeem your points for:
Insurance:
Other perks:
*Rates, product information, and reward estimates are subject to change at any time and do not constitute financial advice.
The MBNA credit card rewards program allows you to earn, save and redeem rewards points for great rewards such as:
MBNA credit cards are widely accepted around the globe, making them excellent for travelling. Use your credit card to pay for every purchase, tracking and managing each transaction safely. Every MBNA credit card is Chip & PIN enabled, helping secure all your purchases. You will also receive fraud alerts if your card information is misused.
Depending on which MBNA credit card you have, you’ll be covered by one of the following security policies:
