Overview of the MBNA Rewards Platinum Plus® Mastercard®
On gas, groceries, restaurants (including fast food & drinks)1 point/$1
On other purchases
MBNA Rewards Platinum Plus® Mastercard® details
- Welcome offer
- 10,000 bonus points ($100 value)
- Annual fee
- Earn 2x points on gas, groceries, restaurants (including fast food & drinks), 1x points on other purchases
- Average point value
- Purchase interest rate
- Cash advance interest rate
- Balance transfer interest rate
- Minimum income
- Any amount
- Household income
- Any amount
- Recommended credit score
- Card type
Detailed card summary
Benefits & features
- This offer is not available for residents of Quebec. For residents of Quebec, please click here.
- 4 points†† for every $1 spent on eligible gas, groceries and restaurant purchases during the first 90 days, and 2 points‡ for every $1 spent on eligible gas, groceries and restaurant purchases thereafter ($5,000 annual cap on each category). 1 point‡ for every $1 spent on all other eligible purchases
- 5,000 bonus points†† after you make $500 or more in eligible purchases within the first 90 days of your account opening
- 5,000 bonus points†† once enrolled for paperless e-statements within the first 90 days of account opening
- Redeem points‡ for travel, cash back, brand-name merchandise, gift cards from participating retailers, and charitable donations
- Standard Annual Interest Rates of 19.99% on purchases, 22.99% on balance transfers✪ and access cheques, and 24.99% on cash advances
- No annual fee
- Sponsored advertising. MBNA is a division of The Toronto-Dominion Bank (TD) and TD is not responsible for the contents of this site including any editorials or reviews that may appear on this site. For complete information on this MBNA credit card, please click on the “Get More Details” button
How to redeem
Redeem your points through MBNA Rewards with no flight or date restrictions
How to get approved
- Minimum income Any
- Household income Any
- Recommended credit score 660+
- You are a permanent Canadian resident and have reached the age of majority in the province in which you live.
Average user score for MBNA Rewards Platinum Plus® Mastercard®
4.5 | 6 reviews
Like the low interest rate
this card did all of my christmas shopping and at the time I didn’t have all the money to pay for all of my gifts up front with a debit card due to financial situations, but the mastercard that I received helped me buy gifts for my kids and for my family and I will continue to use this card always even if it’s just for every day purchases because the rates are so low! applying for a master card was probably one of the best things I’ve ever done and as I said before I will always use it!!
Awesome crédit card
Awesome crédit card, I get approbation and the card délivrer at home in a week.
LA DEMANDE SEST TRES BIEN PASSÉ. JAI EU UNE REPONSE RAPIDE ET ON A TRES BIEN REPONDU A TOUS MES QUESTION , JE RECOMMANDE CETTE CARTE A TOUS LES GENS QUI ONT EN BESOIN DUNE DANS LES PROCHAIN TEMPS.
The process was a little bit convoluted and took a few weeks to get the card. The verification process involves getting a letter to say that you are getting the card, then a second letter to go to the post office to get the card. It’s a little inconvenient.
The MBNA Rewards Platinum Plus manages to punch above its weight, offering impressive rewards on everyday spending and a lucrative sign-up bonus despite the fact it has no annual fee or any specific income requirements.
The MBNA Points program is also flexible and easy-to-understand, making it a perfect fit for points beginners or anyone who doesn’t want to deal with elaborate rewards charts or maps. The drawbacks: the card doesn’t offer much in the form of perks or travel emergency insurance, and comes with rewards caps that can put a ceiling (albeit a mostly negligible one) on your ability to rack up bonus points.
MBNA Rewards Platinum Platinum – Quick review
- The MBNA Rewards Platinum Plus has no annual fee.
- It earns up to 2 points per dollar spent (2% in travel rewards) on gas, groceries, and at restaurants – out earning virtually all no fee travel cards in three common spending categories.
- You’ll earn at least 1 point per dollar (1% in travel rewards) on all other everyday purchases. In comparison, many other no fee rewards cards start earning rewards from as little 0.5%.
- New cardholders can get over $100 in bonus points.
- MBNA points values that are easy to calculate. 1 point = 1 cent when redeemed for travel, or 1 point = 1% in travel rewards.
- You can redeem MBNA points from virtually any airline of your choice.
- Aside from travel rewards, MBNA points also offer great value on gift card redemptions (1 point = around 0.8 – 0.9 cents in gift cards).
- The card doesn’t come with any specific income requirements.
- Cardholders will receive rental car theft / damage / accident insurance, and up to $1,000,000 in travel accident insurance.
- As a Mastercard, the MBNA Rewards Platinum Plus is accepted virtually everywhere.
- There is an annual spend cap on bonus categories. You’ll earn 2X the points on gas, groceries, and restaurants on the first $5,000 you spend in each category each year – after which you’ll earn the standard 1 point per dollar.
- While the MBNA Rewards Platinum Plus does offer some basic travel insurance, it lacks comprehensive coverage in the form of travel medical emergency, baggage loss/delay, and trip interruption insurance.
- You must use MBNA Rewards’ proprietary website when redeeming points, which means you can’t use points to book travel directly from an airline or hotel provider.
Everyday earn rate
The MBNA Rewards Platinum Plus lets you rack up points faster than virtually any other no annual fee travel credit card in Canada.
- 2 points per dollar gas, groceries and restaurants
- 1 point per dollar on everything else
When considering most rival no fee travel credit cards will earn you the equivalent of 0.5 to 1 point per dollar on everyday purchases, the MBNA Rewards Platinum really manages to stand out.
Here’s a break down how much you can earn on the credit card based on an average monthly spending scenario of $1,500 in the following categories:
|Spending Category||Monthly Spending|
|Total rewards after 1 year||$266|
There is a small caveat worth calling out, however: the bonus categories have an annual spending cap. You’ll earn 2 points per dollar on the first $5,000 you spend in each gas, groceries and restaurants every year. If you spend over $5,000 within a year in a particular category, like say groceries, you’ll earn 1 point per dollar on any grocery purchases from $5,001 and beyond till the end of the year.
While the annual spending caps are a drawback, there’s some silver lining.
- For one, the caps are set reasonably high at $5,000 annually, which means they won’t come into effect at all unless you spend an average of over $415 per month on groceries, gas, or dining. In other words, you’ll likely earn double the points on all or the vast majority of your spending in bonus categories.
- Secondly, even if you do hit the cap, you’ll still continue to earn rewards on bonus categories but just at a slightly lower rate of 1 point per dollar. That’s still a solid rewards rate that manages to out-earn most other no fee travel credit cards in Canada.
- Finally, the cap resets every year.
Aside from its everyday earn rate, the MBNA Rewards Platinum is one of the best no fee credit cards in Canada for its lucrative welcome offer.
If you’re a new cardholder, you can up to 10,000 bonus points (the equivalent of $100 in travel rewards) in two easy steps:
- 5,000 points after signing up for online e-statements within 90 days of receiving your card
- 5,000 points after making at least $500 in purchases within 90 days of receiving your card
As an added bonus, you’ll get 4 points per dollar spent on gas, groceries, and restaurants for your first 90 days. That works out a 4% return in travel points for your first three months.
MBNA Points redemption
Points value overview
|Avg. value of 1 point||Avg. value of 10,000 points|
|Gift cards||Avg. 0.8 – 09 cents||Avg. $80-$90|
|Cash credits||0.5 cents||$50|
|Merchandise||Avg. 0.7 cents||Avg. $70|
MBNA Rewards is first and foremost a travel points program, which means you’ll get the most value out of each MBNA point when redeeming for travel rewards including:
- Vacation packages
- Hotel stays
- Car rentals
You’ll get a return of 1 cent per point (the equivalent of 1% cash back in travel savings) when using points for any of those aforementioned travel rewards. You can start redeeming for travel in increments of as little as 100 points, so you won’t have to rack a giant pile of points before you can start putting them to good use. You’ll also have the flexibility to book travel from virtually any airline, and won’t be resurrected to a limited number of partner carriers or worry about seat restrictions, black out dates or elaborate rewards charts.
There is a drawback though. You must use MBNA’s proprietary travel search engine and can’t price match or apply points against purchases you made on your own directly from an airline, hotel, or travel provider.
For gift cards
If you want to use points for rewards other than travel, you can get some pretty solid value when redeeming for gift cards.
On average, you’ll get around 0.8 to 0.9 cents per point on gift cards, which is only slightly less than what you’d typically get out of your points on travel rewards. That’s impressive, especially when considering some other points programs offer a quarter or even half as much value on gift card rewards versus travel redemptions.
The MBNA Rewards website includes quite a large catalogue of physical gift card and e-gift card options including: Amazon, Walmart, Wayfair, Home Depot, Hudson’s Bay, eBay, Uber, and more.
For cash credits
When using points for cash credits to pay off your credit card balance, you can redeem points in increments of 200 points for $1. That works out to 0.5 cents per point, which is half the value you’d get when using points for travel (1 cent) and about half what you’d get on gift card redemptions (0.8-0.9 cents).
When redeeming points for cash credits, you’ll also need to have at least 10,000 points accumulated.
All things considered, it’s better to use points for travel or gift cards, and if you’re looking for rewards to reduce your balance, a straight-up cash back credit card may be a better option.
The value of your points when redeeming for merchandise can vary considerably, depending on the item in question. Overall though, you’ll usually get around 0.7 cent per point. So if you’re planning on using points for non-travel rewards, it’s probably better to go the gift card route over redeeming for a specific item.
MBNA Rewards’s online merchandise catalogue is quite vast and covers virtually every product line – from electronics and toys to kitchen appliance and jewelry.
Fees, income requirements, and more
One of the best features of the MBNA Platinum Plus is its low barrier to entry – there are no annual fees and you won’t need to meet a specific income to get approved.
As per usual for a rewards credit card, you won’t owe any interest if you pay off your balance on time and in full every month, but if you do carry a balance from one month to the next, an annual purchase interest rate of 19.99% will kick in. Annual interest rates on cash advances is 24.99% while balance transfers is set at 22.99%, which is about average.
Side perks and insurance
Along with the basic coverage of purchase protection and extended warranties (up to one year) available on most credit card, the MBNA Platinum Plus also comes with purchase assurance.
With purchase assurance, most items you bought on your credit card will be covered in the event they’re damaged, lost or stolen within 90 days of the transaction date up to a lifetime value of $60,000. Note though, some items are excluded included art, jewellery, consumable goods, and several electronics.
The card also comes with three other major types of insurance including:
- Common carrier accidental death and dismemberment insurance: up to $1,000,000)
- Trip cancellation insurance / unexpected return home: up to $2,000
- Rental collision/damage waiver insurance: including up to $2,000 in personal effects coverage
The card’s rental car insurance, in particular, stands out for also offering personal effects coverage, which means if your rental car is stolen and some of your personal belongings along with it, you’ll receive some compensation for your belongings.
The one major drawback of the card’s insurance coverage is it doesn’t include any travel medical emergency coverage (e.g. coverage of healthcare bills if you’re sick while abroad), lost or delayed baggage insurance, or trip cancellation insurance. All things considered though, these benefits are rarely offered by other entry-level fee credit cards.
The MBNA Rewards Platinum Plus easily takes the top spot in our rankings as the best no fee travel card in Canada, and is an easy choice if you’re looking for an entry-level rewards card that costs nothing to carry and can help get a seat on a free or discounted flight faster.
‡ These are highlights of the credit card rewards program (the ” Program “) associated with this credit card account. Points will be awarded on eligible transactions charged to your account as set out in the Program terms and conditions. You will earn two (2) points per dollar spent on eligible gas, grocery and restaurant purchases to a maximum annual amount of $5,000 in each category. Eligible purchases that are not eligible gas, grocery and restaurant purchases will earn a Base Earn Rate of one (1) point per dollar. The redemption rate for Points earned may differ depending on the redemption option chosen. Complete terms and conditions describing Program eligibility, accrual, earn limits, and redemption of Points, and other important conditions will be sent after your account is opened. Please read the terms and conditions carefully upon receipt. .
†† To qualify for this offer, an applicant must be approved for the specific credit card account described in the offer. Welcome bonus of 5,000 points will be awarded if $500 in eligible Purchases are made on your Account within the first 90 days of account opening that are not subsequently rescinded, the subject of a charge back request(s) or otherwise disputed. In order to obtain a “Paperless Bonus” of 5,000 bonus points, you must enroll in online banking at www.mbna.ca and consent to Paperless Statements for the account within the first 90 days of account opening, and not subsequently rescind such enrollment throughout this period. For the double the points on gas, grocery and restaurant Purchases offer, for the first 90 days after account opening you will earn an additional 2 points/$1 spent on eligible gas, grocery and restaurant purchases (on top of the regular earn rate of 2 points/$1 spent on such purchases as indicated in the Program terms and conditions), subject to a maximum annual cap of $5,000 in each category. Please allow 8-10 weeks for the applicable bonus points to be posted to your points account. Limit one-time bonus point offer (no cash value) per new account for each bonus point offer. This offer is not available to residents of Quebec. This promotion is offered by MBNA and may be amended or cancelled at any time without notice. .
✪ Balance transfers will be fulfilled in the order listed and are treated as balance transfers in accordance with your Account Agreement. The total value of balance transfers cannot exceed your authorized credit limit. If the value is greater, MBNA may send a partial payment to the named creditor/designated account. THERE WILL BE A TRANSACTION FEE EQUAL TO 1.00 % OF THE DOLLAR AMOUNT OF EACH BALANCE TRANSFER INITIATED WITH THIS APPLICATION. A MINIMUM FEE OF $7.50 WILL APPLY TO EACH BALANCE TRANSFER TRANSACTION. A balance transfer may not be used to pay off or down your account balance or any other balances with us (including our affiliates, which would include any member of the TD Bank Group). .
The Toronto-Dominion Bank is the issuer of this credit card. MBNA is a division of The Toronto-Dominion Bank. .
Sponsored advertising. MBNA is a division of The Toronto-Dominion Bank (TD) and TD is not responsible for the contents of this site including any editorials or reviews that may appear on this site. For complete information on this MBNA credit card, please click on the “Get More Details” button.