Profile: MBNA Canada

Charlotte Sinclair
by Charlotte Sinclair September 1, 2016 / No Comments

If you’re unfamiliar with MBNA Canada, it’s a division of TD Bank. MBNA Canada has emerged as a leading provider of co-branded and affinity credit card programs. The company offers more than 50 credit cards with a broad selection of rewards programs.

All MBNA credit cards offer peace of mind benefits and away from home perks to increase your overall satisfaction. Some benefits include 24-hour customer service, one-hour credit line increase decisions, cash advances, emergency card replacement, and emergency cash transfers. Additionally, away-from-home perks include lost document and ticket replacement as well as lost luggage assistance.

One of the benefits of choosing an MBNA credit card is the MBNA Rewards program. Your card can be used as a travel rewards credit card or a cash back credit card because you can redeem your points for travel or for cash back (as well as for merchandise and gift cards). All your rewards points have a consistent value of $0.01. Therefore, if you want to redeem your points for cash back, you’ll get $50 for 5,000 points. This is a great redemption value.

Let’s take a closer look at two of MBNA’s top rewards credit cards:

MBNA Rewards World Elite

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  • $89 annual fee (waived for the first year)
  • Earn two points for each $1 you spend
  • Receive 10,000 bonus points with first eligible purchase

The MBNA Rewards World Elite MasterCard is the best choice if you don’t mind paying an annual fee. With this card, you’ll earn two points for every dollar you spend. Your points can be redeemed for travel, merchandise, gift cards, and cash back at a rate of $0.01 per point. This results in a return of 2% on all your purchases. This is an excellent value, especially for a card with a relatively low annual fee of $89. You’ll also receive 10,000 bonus points after you make your first purchase using the card. Another great perk of this MBNA MasterCard is that there’s no limit to the points you can earn and they’ll never expire. You’ll also receive excellent MasterCard travel insurance.

MBNA Rewards MasterCard

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  • No annual fee
  • Earn one point for each $1 you spend
  • Receive 5,000 bonus points with first eligible purchase

If you’re looking for the same rewards benefits but don’t want an annual fee, you’ll want to consider the MBNA Rewards MasterCard. This card allows you to earn one point for every dollar you spend on your credit card. Once again, your points can be redeemed for travel, merchandise, gift cards, or cash back. Each point has a value of one point = $0.01. This results in a return of 1% on all your spending. This is still a great return. Plus, this is a no-fee credit card. Like any MBNA Rewards credit card, you can earn an unlimited number of points that’ll never expire as long as you hold the card.

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