Best MBNA credit cards in Canada
Updated: May 01, 2024
MBNA might not be the most well-known brand in Canada, but its range of credit card products is exceptional. MBNA is a financial institution that’s focused exclusively on credit cards, which might be why MBNA credit cards are among the best offered in Canada. MBNA issues only Mastercards , and no longer issues Visa cards, and MBNA credit cards offer low or no annual fees, high rewards, and loyalty points. You can also get MBNA Mastercards that support your favourite Canadian school, sports team, or charitable donations. Here's our list of the best MBNA credit cards in Canada.
Best MBNA credit card overall
MBNA Rewards Platinum Plus Mastercard
Earn 4 points per $1 spent on eligible restaurant, grocery, digital media, membership, and household utility purchases until $10,000 is spent annually. You could also receive up to 10,000 bonus points.
10,000
Get up to 10,000 MBNA Rewards points†† as an introductory bonus (see details below)
Get up to 10,000 MBNA Rewards points†† as an introductory bonus (see details below)
10,000
19.99%
Purchase APR
22.99%
Balance Transfer Rate
24.99%
Cash Advance APR
$0
Annual Fee
Purchase APR
19.99%
Balance Transfer Rate
22.99%
Cash Advance APR
24.99%
Annual Fee
$0
Good
Recommended Credit Score
Recommended Credit Score
Good
Pros
-
No annual fee
-
Accelerated rewards on groceries, restaurants, and more
-
Simple point structure with flexible redemption options
-
Generous introductory bonus of up to 10,000 points
-
No cap on total points earned
Cons
-
Lower cash back redemption rate compared to designated cash back cards
-
Limited benefits beyond rewards
-
Points system may not appeal to cash back enthusiasts
-
Higher earning categories have a spending cap of $10,000 annually
-
Better suited for travel rewards than cash back
10,000
Get up to 10,000 MBNA Rewards points†† as an introductory bonus (see details below)
Get up to 10,000 MBNA Rewards points†† as an introductory bonus (see details below)
10,000
19.99%
Purchase APR
22.99%
Balance Transfer Rate
24.99%
Cash Advance APR
$0
Annual Fee
Purchase APR
19.99%
Balance Transfer Rate
22.99%
Cash Advance APR
24.99%
Annual Fee
$0
Good
Recommended Credit Score
Recommended Credit Score
Good
Pros
-
No annual fee
-
Accelerated rewards on groceries, restaurants, and more
-
Simple point structure with flexible redemption options
-
Generous introductory bonus of up to 10,000 points
-
No cap on total points earned
Cons
-
Lower cash back redemption rate compared to designated cash back cards
-
Limited benefits beyond rewards
-
Points system may not appeal to cash back enthusiasts
-
Higher earning categories have a spending cap of $10,000 annually
-
Better suited for travel rewards than cash back
Best MBNA Mastercard
MBNA Rewards World Elite Mastercard
Earn up to 30,000 bonus MBNA Rewards Points†† for cash back, gift cards and more.
30,000
MBNA offers up to a 30,000-point welcome bonus
5
You get five points‡ per dollar spent on groceries, restaurants, digital media, memberships, and household utilities
1
All other purchases outside those categories earn one point per $1 spent.
MBNA offers up to a 30,000-point welcome bonus
30,000
You get five points‡ per dollar spent on groceries, restaurants, digital media, memberships, and household utilities
5
All other purchases outside those categories earn one point per $1 spent.
1
19.99%
Purchase APR
22.99%
Balance Transfer Rate
24.99%
Cash Advance APR
$120
Annual Fee
Purchase APR
19.99%
Balance Transfer Rate
22.99%
Cash Advance APR
24.99%
Annual Fee
$120
Good
Recommended Credit Score
$80,000
Required Annual Personal Income
$150,000
Required Annual Household Income
Recommended Credit Score
Good
Required Annual Personal Income
$80,000
Required Annual Household Income
$150,000
Pros
-
High earn rates: Up to 5 points per $1 on groceries, restaurants, digital media, memberships, utilities
-
Generous welcome bonus of up to 30,000 points, covering first-year annual fee
-
Points never expire, flexible redemption options including travel and statement credit
-
Birthday bonus: Up to 15,000 points annually, 10% of points earned in the previous year
-
Comprehensive benefits: Price protection, purchase assurance, extended warranty, travel insurance
Cons
-
High income requirements: $80,000 personal or $150,000 household income
-
Annual fee of $120 after the first year
-
Travel insurance package not as robust as other cards at similar price points
30,000
MBNA offers up to a 30,000-point welcome bonus
5
You get five points‡ per dollar spent on groceries, restaurants, digital media, memberships, and household utilities
1
All other purchases outside those categories earn one point per $1 spent.
MBNA offers up to a 30,000-point welcome bonus
30,000
You get five points‡ per dollar spent on groceries, restaurants, digital media, memberships, and household utilities
5
All other purchases outside those categories earn one point per $1 spent.
1
19.99%
Purchase APR
22.99%
Balance Transfer Rate
24.99%
Cash Advance APR
$120
Annual Fee
Purchase APR
19.99%
Balance Transfer Rate
22.99%
Cash Advance APR
24.99%
Annual Fee
$120
Good
Recommended Credit Score
$80,000
Required Annual Personal Income
$150,000
Required Annual Household Income
Recommended Credit Score
Good
Required Annual Personal Income
$80,000
Required Annual Household Income
$150,000
Pros
-
High earn rates: Up to 5 points per $1 on groceries, restaurants, digital media, memberships, utilities
-
Generous welcome bonus of up to 30,000 points, covering first-year annual fee
-
Points never expire, flexible redemption options including travel and statement credit
-
Birthday bonus: Up to 15,000 points annually, 10% of points earned in the previous year
-
Comprehensive benefits: Price protection, purchase assurance, extended warranty, travel insurance
Cons
-
High income requirements: $80,000 personal or $150,000 household income
-
Annual fee of $120 after the first year
-
Travel insurance package not as robust as other cards at similar price points
Best MBNA credit card for low interest
MBNA True Line Gold Mastercard
Get up to 1.5% cash back on your day-to-day purchases
8.99
8.99% interest rate on purchases and 8.99%✪ on balance transfers
8.99% interest rate on purchases and 8.99%✪ on balance transfers
8.99
8.99%
Purchase APR
8.99%
Balance Transfer Rate
24.99%
Cash Advance APR
$39
Annual Fee
Purchase APR
8.99%
Balance Transfer Rate
8.99%
Cash Advance APR
24.99%
Annual Fee
$39
Good
Recommended Credit Score
Recommended Credit Score
Good
Pros
-
Low interest rate on purchases and balance transfers
-
24/7 customer service
-
Proactive fraud protection
Cons
-
$39 annual fee
-
Penalty interest rate if minimum payments are missed
8.99
8.99% interest rate on purchases and 8.99%✪ on balance transfers
8.99% interest rate on purchases and 8.99%✪ on balance transfers
8.99
8.99%
Purchase APR
8.99%
Balance Transfer Rate
24.99%
Cash Advance APR
$39
Annual Fee
Purchase APR
8.99%
Balance Transfer Rate
8.99%
Cash Advance APR
24.99%
Annual Fee
$39
Good
Recommended Credit Score
Recommended Credit Score
Good
Pros
-
Low interest rate on purchases and balance transfers
-
24/7 customer service
-
Proactive fraud protection
Cons
-
$39 annual fee
-
Penalty interest rate if minimum payments are missed
Best MBNA Mastercard with no annual fee
MBNA True Line Mastercard
Get a 0% promotional annual interest rate (“AIR”)† for 12 months on balance transfers✪ completed within 90 days of account opening.
Expires
Jan 1, 2025
0%
New cardholders can enjoy a 0% promotional annual interest rate† (a 3% transfer fee applies) for 12 months on any balance transfer✪ completed within 90 days of opening the account
New cardholders can enjoy a 0% promotional annual interest rate† (a 3% transfer fee applies) for 12 months on any balance transfer✪ completed within 90 days of opening the account
0%
12.99%
Purchase APR
12.99%
Balance Transfer Rate
24.99%
Cash Advance APR
$0
Annual Fee
Purchase APR
12.99%
Balance Transfer Rate
12.99%
Cash Advance APR
24.99%
Annual Fee
$0
Good
Recommended Credit Score
Recommended Credit Score
Good
Pros
-
Solid welcome offer: 12 months of 0% APR† on balance transfers✪ made within the first 90 days (3% transfer fee applies)
-
No annual fee or minimum income requirement
-
Low standard interest rate of 12.99% for all new purchases charged to the card
-
Some extra perks like fraud protection and a discount on car rentals
Cons
-
3% balance transfer fee is comparatively high
-
Very high cash advance interest rate of 24.99%
-
No insurance benefits
-
Can’t transfer a balance owed to either MBNA or TD
0%
New cardholders can enjoy a 0% promotional annual interest rate† (a 3% transfer fee applies) for 12 months on any balance transfer✪ completed within 90 days of opening the account
New cardholders can enjoy a 0% promotional annual interest rate† (a 3% transfer fee applies) for 12 months on any balance transfer✪ completed within 90 days of opening the account
0%
12.99%
Purchase APR
12.99%
Balance Transfer Rate
24.99%
Cash Advance APR
$0
Annual Fee
Purchase APR
12.99%
Balance Transfer Rate
12.99%
Cash Advance APR
24.99%
Annual Fee
$0
Good
Recommended Credit Score
Recommended Credit Score
Good
Pros
-
Solid welcome offer: 12 months of 0% APR† on balance transfers✪ made within the first 90 days (3% transfer fee applies)
-
No annual fee or minimum income requirement
-
Low standard interest rate of 12.99% for all new purchases charged to the card
-
Some extra perks like fraud protection and a discount on car rentals
Cons
-
3% balance transfer fee is comparatively high
-
Very high cash advance interest rate of 24.99%
-
No insurance benefits
-
Can’t transfer a balance owed to either MBNA or TD
Best MBNA Mastercard with cash back
MBNA Smart Cash World Mastercard
Earn 5% Cash Back on gas and groceries for the first 6 months ($500 spend cap)
2%
Earn cash 2% on gas and groceries ($500 monthly cap)
1%
Earn 1% cash back on all other purchases
9
Include up to 9 authorized users with no additional annual fee
Earn cash 2% on gas and groceries ($500 monthly cap)
2%
Earn 1% cash back on all other purchases
1%
Include up to 9 authorized users with no additional annual fee
9
19.99%
Purchase APR
22.99%
Balance Transfer Rate
24.99%
Cash Advance APR
$39
Annual Fee
Purchase APR
19.99%
Balance Transfer Rate
22.99%
Cash Advance APR
24.99%
Annual Fee
$39
Good
Recommended Credit Score
$60,000
Required Annual Personal Income
$100,000
Required Annual Household Income
Recommended Credit Score
Good
Required Annual Personal Income
$60,000
Required Annual Household Income
$100,000
Pros
-
Welcome Bonus: Accelerated cash back rate during the initial six months of account opening
-
Above-average cash back rates after the initial six months bonus offer - up to 2% cash back on eligible purchases
-
The first additional card comes with no extra fee, making it a good option for families.
-
Rental Vehicle Collision Damage Waiver - beneficial for those who frequently rent cars.
-
Price Protection Service
-
Low annual fee
Cons
-
High income requirement
-
High-interest rates mean carrying a balance can be expensive – and quickly negate the benefits of earning cash back.
-
Monthly spend cap on higher cash back rate
-
Limited insurance benefits
-
Welcome Bonus cap
-
Regional variations in interest rates
2%
Earn cash 2% on gas and groceries ($500 monthly cap)
1%
Earn 1% cash back on all other purchases
9
Include up to 9 authorized users with no additional annual fee
Earn cash 2% on gas and groceries ($500 monthly cap)
2%
Earn 1% cash back on all other purchases
1%
Include up to 9 authorized users with no additional annual fee
9
19.99%
Purchase APR
22.99%
Balance Transfer Rate
24.99%
Cash Advance APR
$39
Annual Fee
Purchase APR
19.99%
Balance Transfer Rate
22.99%
Cash Advance APR
24.99%
Annual Fee
$39
Good
Recommended Credit Score
$60,000
Required Annual Personal Income
$100,000
Required Annual Household Income
Recommended Credit Score
Good
Required Annual Personal Income
$60,000
Required Annual Household Income
$100,000
Pros
-
Welcome Bonus: Accelerated cash back rate during the initial six months of account opening
-
Above-average cash back rates after the initial six months bonus offer - up to 2% cash back on eligible purchases
-
The first additional card comes with no extra fee, making it a good option for families.
-
Rental Vehicle Collision Damage Waiver - beneficial for those who frequently rent cars.
-
Price Protection Service
-
Low annual fee
Cons
-
High income requirement
-
High-interest rates mean carrying a balance can be expensive – and quickly negate the benefits of earning cash back.
-
Monthly spend cap on higher cash back rate
-
Limited insurance benefits
-
Welcome Bonus cap
-
Regional variations in interest rates
Best MBNA credit card with no-fee cash back
MBNA Smart Cash Platinum Plus Mastercard
Earn 5% Cash Back on gas and groceries for the first 6 months (until $500 spend cap reached)
2%
Earn 2% on gas and groceries ($500 monthly spend cap)
0.5%
Get 0.5% cash back on all other purchases
Earn 2% on gas and groceries ($500 monthly spend cap)
2%
Get 0.5% cash back on all other purchases
0.5%
19.97%
Purchase APR
22.99%
Balance Transfer Rate
24.99%
Cash Advance APR
$0
Annual Fee Up to 9 additional card with no annual fee
Purchase APR
19.97%
Balance Transfer Rate
22.99%
Cash Advance APR
24.99%
Annual Fee
$0
Good
Recommended Credit Score
Recommended Credit Score
Good
Pros
-
Generous Welcome Bonus to earn accelerated rewards during the initial six months of account opening
-
No annual fee
-
Ongoing cash back rewards after the welcome bonus - up to 2% cash back on eligible purchases
-
Car rental discounts
-
MBNA Payment Plan: Flexible payment options for purchases over $100, which is a nice perk for budget management.
-
Purchase assurance and extended warranty
Cons
-
Monthly spend cap on the welcome bonus rewards earn rate
-
Limited reward categories
-
Potential fees for payment plan
-
No travel rewards or premium perks
2%
Earn 2% on gas and groceries ($500 monthly spend cap)
0.5%
Get 0.5% cash back on all other purchases
Earn 2% on gas and groceries ($500 monthly spend cap)
2%
Get 0.5% cash back on all other purchases
0.5%
19.97%
Purchase APR
22.99%
Balance Transfer Rate
24.99%
Cash Advance APR
$0
Annual Fee Up to 9 additional card with no annual fee
Purchase APR
19.97%
Balance Transfer Rate
22.99%
Cash Advance APR
24.99%
Annual Fee
$0
Good
Recommended Credit Score
Recommended Credit Score
Good
Pros
-
Generous Welcome Bonus to earn accelerated rewards during the initial six months of account opening
-
No annual fee
-
Ongoing cash back rewards after the welcome bonus - up to 2% cash back on eligible purchases
-
Car rental discounts
-
MBNA Payment Plan: Flexible payment options for purchases over $100, which is a nice perk for budget management.
-
Purchase assurance and extended warranty
Cons
-
Monthly spend cap on the welcome bonus rewards earn rate
-
Limited reward categories
-
Potential fees for payment plan
-
No travel rewards or premium perks
Compare MBNA Mastercard credit cards
† Terms and conditions apply
Choose the right MBNA credit card for you
Whether you’re after high rewards or low fees, there’s an MBNA credit card that suits your circumstances. As long as you make sure to use your card responsibly, MBNA credit cards are a good choice for a financially healthy lifestyle.
Scott Birke is a finance editor at Money.ca.
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