Overview of the MBNA True Line® Gold Mastercard® credit card

The MBNA True Line Gold Mastercard offers the lowest fixed interest rate for a credit card in Canada. Despite the annual fee, which some other low-interest cards don’t charge, the super-low rate makes the card a great choice for those who carry a balance.

Pros:

• Lowest fixed interest rate: Low purchase rate which doesn’t change with the prime rate or your credit score
• Low balance transfer rate: The balance transfer interest rate is much lower than other cards and the fee is only 1% vs. the 3% charged by other cards

Cons:

• Few perks: Besides savings on rental cars, there aren’t any perks or rewards associated with this card
• Limited insurance: Aside from the standard purchase assurance and extended warranty, this card doesn’t have trip coverage or rental car insurance which are valuable for users