The best MBNA credit cards in Canada for 2024
February 20, 2024
Explore the best variety of MBNA credit cards, tailored to meet your unique needs. Compare, choose, and apply today for a card that matches your purchasing habits.
Compare Canada’s best MBNA credit cards
MBNA credit card overview
MBNA offers over two dozen Mastercard credit cards to meet your needs, with a diverse selection of rewards to choose from. We have outlined below the top MBNA credit cards by category.
Best MBNA credit card for balance transfer and low interest
Purchase interest rate
- Pay $5/mo
Based on a credit balance of $500
- Annual fee
$0
Perks
- Ratehub.ca’s 2023 Award Winner – Best Low Interest Credit Card and Best Balance Transfer Credit Card
- This offer is not available for residents of Quebec.
- No annual fee
- Standard Annual Interest Rates of 12.99% on purchases, 12.99% on balance transfers✪, and 24.99% on cash advances
- You could get a 0% promotional annual interest rate (“AIR”)† for 12 months on balance transfers✪ completed within 90 days of account opening, with a 3% transfer fee.
- Around-the-clock fraud protection
- Use available credit on your credit card to transfer funds right to your chequing account.
Apply for the MBNA True Line® Mastercard® credit card today.
Ratehub’s take
In the Venn diagram of features most sought after by those looking to minimize their credit card debt, the MBNA True Line Mastercard has some considerable overlap. The card has no annual fee and a below-average purchase interest rate of 12.99% on purchases and balance transfers. For anyone trying to work themselves out of debt and rebuilt their credit, the 0% promotional annual interest rate for 12 months provides an excellent head start.
Pros
- Best promotional balance transfer offer on the market: A promotional balance transfer of 0% is available for a full year helping pay down or eliminate credit card debt (note: there is a 3% balance transfer fee)
- Fixed low interest rate: The low interest rate of 12.99% is fixed and won’t change regardless of your credit rating, income, or the bank’s prime lending rate
- Accessibility: No annual fee and no income requirements to qualify making it very accessible
Cons
- Lack of additional benefits: This card does not include insurance or other benefits
- Restrictions for Quebec residents: Offer not available to residents of Quebec
Eligibility requirements
Minimum credit score: 660
Minimum income: N/A
Interest rates
Purchase interest: 12.99%
Cash advance: 24.99%
Ratehub.ca's take
The MBNA True Line Mastercard is the most sought after card by those looking to minimize their credit card debt. The card has no annual fee and a below-average purchase interest rate of 12.99% on purchases and balance transfers.
Balance transfer offer: 0% promotional annual interest rate for 12 months with a 3% balance transfer fee. Conditions apply.
Pros
- The low interest rate of 12.99% is fixed and won’t change regardless of your credit rating, income, or the bank’s prime lending rate
- No annual fee and no income requirements to qualify making it very accessible
- Promotional balance transfer of 0% is available for a full year helping pay down or eliminate credit card debt
Cons
- Does not include insurance or other benefits
- Offer not available to residents of Quebec
Best MBNA credit card with no annual fee
Best for Everyday spending
based on spending $2,200/mo after $0 annual fee
- Earn rewards
1pt – 4pts / dollar earn rate
- Annual fee
$0
Perks
- This offer is not available for residents of Quebec.
- Earn 4 points†† for every $1 spent on eligible restaurant, grocery, digital media, membership and household utility purchases during the first 90 days, and 2 points‡ for every $1 spent on eligible purchases in those categories thereafter – in both cases, these earn rates apply until $10,000 is spent annually in the applicable category. 1 point‡ for every $1 spent on all other eligible purchases
- 5,000 bonus points†† ($25 in cash back value) after you make $500 or more in eligible purchases within the first 90 days of your account opening
- 5,000 bonus points††($25 in cash back value) once enrolled for paperless e-statements within the first 90 days of account opening
- Each year, you will receive Birthday Bonus Points‡ equal to 10% of the total number of Points earned in the 12 months before the month of your birthday, to a maximum Birthday Bonus each year of 10,000 Points
- Redeem points‡ for cash back, brand-name merchandise, gift cards from participating retailers, charitable donations, and travel.
- Standard Annual Interest Rates of 19.99% on purchases, 22.99% on balance transfers and 24.99% on cash advances
- Mobile Device Insurance***
- With Mobile Device Insurance, you’ve got up to $1,000 in coverage for eligible mobile devices in the event of loss, theft, accidental damage or mechanical breakdown
- No annual fee
Apply for the MBNA Rewards Platinum Plus® Mastercard®.
Features
Eligibility requirements
Minimum credit score: 660
Minimum income: N/A
Interest rates
Purchase interest: 19.99%
Cash advance: 24.99%
Ratehub.ca's take
For frequent travellers seeking a no annual fee credit card, the MBNA Rewards Platinum Plus Mastercard is a perfect match. This card has a flexible rewards program that offers great value for travel redemption. The MBNA Rewards Platinum Plus Mastercard offers bonus rewards on key spending categories, including restaurants, groceries, digital media, memberships and household utility purchases.
Pros
- Welcome bonus - Earn 10,000 bonus points ($50 in cash back value). Plus, get 4 points per $1 spent on eligible restaurant, grocery, digital media, membership and household utility purchases during the first 90 days.
- Very flexible rewards programs in comparison to other no fee credit cards, allowing cardholders to redeem points for cash back, merchandise, gift cards, charitable donations, and travel
- Includes additional benefits such as mobile device insurance, purchase assurance, and extended warranty benefits
- Receive up to 10,000 Birthday Bonus Points every year
Cons
- Earn rate of 2 points per dollar on eligible restaurants, groceries, digital media, memberships, and household utility purchases is capped at $10,000 annually (per category)
- No credit card travel insurance
- This offer is not available for residents of Quebec
Best MBNA cash back credit card
Best for Gas & groceries
based on spending $2,200/mo after $0 annual fee
- Earn rewards
0.5% – 2% earn rate
- Annual fee
$0
Perks
- This offer is not available for residents of Quebec.
- Accelerate cash back on common purchases!
- No annual fee
- Get 5% Cash Back†† on eligible gas and grocery purchases for the first 6 months (until the total gas and grocery purchases in the applicable month reaches $500)
- Get 2% Cash Back‡ on eligible gas and grocery purchases thereafter (until the total gas and grocery purchases in the applicable month reaches $500)
- Get 0.5% Cash Back‡ for all other purchases
- Standard Annual Interest Rates of 19.99% on purchases, 22.99% on balance transfers✪ and access cheques, and 24.99% on cash advances
- Take advantage of a card that provides Cash Back on eligible purchases and has no annual fee. Apply now for the Smart Cash® credit card.
Features
Ratehub’s take
If you’re looking to earn cash back, the MBNA Smart Cash Platinum Plus Mastercard is considered the best MBNA cash back credit card on the market. This card offers 2% cash back on gas and groceries, 0.5% on all other purchases, and complimentary travel insurance, all with no annual fee.
Pros
- Comprehensive coverage: Complimentary travel insurance and purchase protection are included. Also includes a variety of rental car coverage which sets this card apart from others in its category
- No annual fee
- High earning rate for essentials: For the first 6 months, enjoy a great earn rate of 5% for gas and groceries for the first 6 months (up to $500 spent per month). Note: it goes down to 2% after the first 6 months
- Easy reward redemption: Redeem your rewards how and when you want as soon as you have accumulated $50. You can redeem it as a statement credit, deposit it to a bank account or even get it sent to a participating charity.
Cons:
- Cash back cap: The 2% cash back on gas and groceries is capped at $500 per month
- Low earn rate on other purchases: A low earn rate of 0.5% applies to all other purchases
- Restrictions for Quebec residents: This offer is not available for residents of Quebec
Eligibility requirements
Minimum credit score: 660
Minimum income: N/A
Interest rates
Purchase interest: 19.99%
Cash advance: 24.99%
Ratehub.ca's take
If you are interested in earning cash back, the MBNA Smart Cash Platinum Plus Mastercard is considered the best MBNA cash back credit card on the market. This card offers 2% cash back on gas and groceries, 0.5% on all other purchases, and complimentary travel insurance, all for no annual fee.
Pros
- Complimentary travel insurance and purchase protection included
- No annual fee
- Great earning rate for gas and groceries
Cons
- 2% cash back on gas and groceries is capped at $500 per month
- Low earn rate of 0.5% on all other purchases
- This offer is not available for residents of Quebec
Additional considerations for MBNA credit cards
MBNA Rewards Points values will vary depending on what you redeem for. 1 point = 1 cent in travel rewards (from any airline booked on the MBNA Rewards website), 1 point = 0.5 cents in cash back, or 1 point = 0.85 - 0.98 cents when redeemed for e-gifts. You can also use points to order merchandise from the MBNA Rewards catalogue, though values can vary considerably from one item to another.
Online shopping and retail
Are you an avid online shopper? MBNA partnered with Canada's largest online retailer to launch the Amazon.ca Rewards Mastercard, which carries no annual fee, earns accelerated rewards on Amazon purchases as well as for Amazon Prime Members, and offers bonuses points on purchases made in non-Canadian currencies to offset the card's foreign transaction fees. The Amazon.ca Rewards Mastercard earns Amazon points which are redeemed automatically in increments of 2,000 points for a $20 for Amazon gift card. For health enthusiasts, the Melaleuca Mastercard earns bonus Loyalty Shopping Dollars on purchases from Melaleuca - the largest dedicated online wellness shopping club. Finally, there's the Nordstrom Rewards Visa that help you rack up bonus points when shopping at the luxury department store.
Charitable causes
Support Canadian veterans while earning points towards cash back, travel and more with the Royal Canadian Legion MBNA Rewards Mastercard. Not only will you feel good for advocating for the care of Veterans and their families when you swipe your card, but you’ll also earn MBNA Rewards points for every $1 you spend on eligible purchases. Points are redeemable for your choice of MBNA rewards.
More on MBNA
MBNA is a division of The Toronto-Dominion Bank, and offers affinity and co-branded credit cards in Canada, as well as insurance products. With headquarters in Ottawa and an office in Regina, MBNA MasterCards are associated with many Canadian stores, charities, educational institutions, sports associations and professional membership organizations.
Natasha Macmillan, Business Director of Everyday Banking
With over a decade of experience in the finance industry, Natasha works closely with Canada's top financial institutions - from banks to credit unions - to help Ratehub.ca's 1,200,000 monthly users get matched with the right banking products. read full bio
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