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Feature: MBNA Rewards World Elite Mastercard

Bassel Abdel-Qader

Before being acquired by TD Bank in 2011, MBNA was Canada’s largest MasterCard issuer and fourth-largest credit card issuer overall. Despite the many changes made to its portfolio and point system over the years, MBNA has always upheld a reputation for offering quality credit cards. (The latest change took place as recently as last week, when the popular SmartCash Platinum Plus MasterCard was removed from its list of offerings.)

Having an MBNA MasterCard means you don’t have to worry about it not being accepted at certain places. An MBNA credit card is also usually marked by a unique benefit that sets it apart from competitors offering the same type of card.

Card details

  • Get 10,000 Bonus Points after your first purchase
  • Earn 2% cash back on all purchases
  • $89 annual fee is waived for the first year

Although it’s sometimes considered a travel rewards credit card, the MBNA World Elite MasterCard is at its most valuable when it’s used as a cash back card. You’ll earn 2 MBNA Rewards Points (with no restrictions) for every dollar you charge to the card, no matter where you choose to spend. This equates to 2% back on all your purchases since each point is equal to one cent. Remember that you need to redeem at least $50 (5,000 points) at a time. Although you can redeem your points for things such as travel, merchandise, or gift cards, these rewards generally provide you with lower value than the 2% cash rewards. You’re better off getting your points back in the form of a statement credit and buying those other reward with your own money. (To see what they’re worth, check out the value of an MBNA reward point.)

As is the case with many other World Elite credit cards, this card has a solid set of perks: the annual fee of $89 is waived for the first year and you’ll receive 10,000 bonus points ($100) after you make your first purchase. Pair this with the comprehensive set of World Elite travel, medical, and shopping benefits, and it’s easy to see why this is one of the best cash back credit cards out there.

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