MBNA Rewards World Elite® Mastercard®
Card highlights
Welcome bonus
Annual fee
Ratehub’s review
Natasha Macmillan
The MBNA Rewards World Elite Mastercard is an excellent choice for flexible rewards. If you don’t want to be limited to booking with one airline or rewards portal, this might be the card for you. Just keep in mind, the tradeoff for flexibility is that some other loyalty programs offer higher points values than what’s available with this card.
Pros
- Flexible redemptions: You can book travel through the MBNA Rewards Centre, or use your points to cover your booking. You can also buy more points with cash. Points can be used for contributing to investments, charitable donations, merchandise and more
- High earn rates: The bonus earn rate of 5 points per dollar on groceries, restaurants, digital media and more is one of the highest around
- Insurance package: The card comes with strong travel medical and trip coverage, plus baggage and mobile device insurance – although it is missing rental car coverage
Cons
- Points less valuable: While MBNA points are flexible, one point is always worth 1 cent for travel, and for non-travel redemptions they are worth less. You might be able to stretch your points values further with other travel credit cards or reward programs like Aeroplan
- Bonus earn rates limited: You’re limited to spending $50,000 annually on the following categories combined: groceries, restaurants, memberships, digital media and household utility purchases and then you earn at the lower base rate of 1 point per $1 spent. Some may find they exceed these limits quickly
Rewards & bonuses
See what you could earn based on how you spend.
Welcome bonus
Earn up to $200.
earn 20,000 bonus points (approximately $165 in cash back value) after you make $2,000 or more in eligible purchases within the first 90 days.
Earn rates
Caps apply where shown. Rewards are earned on eligible purchases only, see the card’s terms for full details. 100 points = $1.
Your earning potential
First year reward
Based on spending $2,200/mo after $120 annual fee
Second year reward
Based on spending $2,200/mo after $120 annual fee
These numbers are based on estimations and the calculation breakdown below.
Adjust your spending
First year reward†
- If you spend $2,200/month, you’ll earn
- Welcome bonus
- Annual fee
- First year reward
Second year reward†
- If you spend $2,200/month, you’ll earn
- Annual fee
- Second year reward
† Estimate calculated by Ratehub.ca and is based on current offers and a monthly spend of $2,200. It is for illustrative purposes only.
Perks & insurance
Perks and insurance coverage included with the card.
| Perks | Details | |
|---|---|---|
| Lounge access | Not included | You’ll gain complimentary passes to airport lounges. The number of passes and lounges you have access to will vary. |
| No foreign exchange fees | Not included | A surcharge that credit card holders pay for purchases made in a foreign currency (typically 2.5%). |
| Extended warranty | Included | Either doubles the length of the item’s manufacturer’s warranty coverage or extends it by 1 year, whichever is less. |
| Price protection | Included | If, within a certain amount of time of purchasing an item, its price drops or you find an identical item offered for a lower retail price than what you paid, you will be reimbursed for the difference. |
| Insurance | Details | |
|---|---|---|
| Travel accident insurance | Not included | If you suffer a loss as a result of an accidental bodily injury sustained while occupying a common carrier, you are eligible for this coverage. |
| Travel emergency medical | Included | If you require urgent medical care while on a trip outside of your home province, you will be covered for any eligible medical expenses incurred. |
| Car rental insurance | Included | Credit card rental car insurance usually covers theft, loss and damage to your rental car in the case of an accidental collision. |
| Trip cancellation | Not included | If you have to cancel your trip before it’s even started, your prepaid travel costs will be covered up to a maximum amount if the cause of cancellation is eligible for the insurance. |
| Trip interruption | Included | If your trip has to be cut short or is delayed after the scheduled departure date, you will be covered up to a maximum amount for an eligible cause of interruption or delay. |
| Flight delay insurance | Included | If your flight departure is delayed by a certain number of hours, you’ll be reimbursed a certain amount for necessary and reasonable expenses. |
| Baggage loss insurance | Included | If your checked bag cannot be located by a common carrier, you’ll be reimbursed for a portion of the replacement cost of lost personal property. |
| Baggage delay insurance | Included | If your checked bag is not delivered within a specified time upon your arrival, you’ll be reimbursed for the cost to replace essential items. |
| Hotel/motel burglary | Not included | Provides protection, while you’re checked in, for your personal belongings when left unattended in your room up to a certain dollar amount. |
| Mobile insurance | Included | Reimburses a portion of your cell phone in the event it’s damaged or lost. Device coverage is limited to a certain period of time after purchasing with your credit card. |
| Purchase assurance | Included | Automatically protects new purchases by insuring them for 90 days from the date of purchase in the event of loss, theft or damage. |
Details & eligibility
Fees
- Annual fee
- $120
Rates
- Purchase interest
- 21.99%
- Balance transfer rate
- 22.99%
- Cash advance rate
- 22.99%
Type
- Provider
- MBNA
- Card type
- Travel
- Payment network
- Mastercard
Eligibility
- Minimum personal income
- $80,000
- Minimum household income
- $150,000
- Minimum credit score
- 660+