ManulifeMONEY+ Visa Platinum* Card review
Mar 21, 2025
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Overall rating
First year value
$198
Get this card if you:
- want to earn cash back with no annual fee
- value purchase protection and extended warranty
- want flexibility in redeeming cash back
Scores by category
Cash Back 2.9
No Annual Fee 2.1
At a glance
The ManulifeMONEY+ Visa Platinum* Card offers straightforward rewards and basic financial protections. It's a no-annual-fee cash back credit card offering elevated earn rates on grocery purchases and a standard rate on all other purchases. Cardholders benefit from an introductory low interest rate on balance transfers and essential insurance coverages.
Highlights
$198
First year value
1.99% BT interest
Welcome bonus
$0
Annual fee
$0 for each additional cardholder
Interest Rates
20.99%
Purchase APR
22.99% - 27.99%
Balance transfer APR
22.99% - 27.99%
Cash advance APR
Eligibility
Good
Recommended credit score
Quick overview
Quick overview of the ManulifeMONEY+ Visa Platinum* Card
The ManulifeMONEY+™ Visa* Platinum Card is a grocery rewards credit card from Manulife Bank, Canada’s first branchless bank. The card earns up to 2% cash back on grocery purchases, provides an introductory APR offer on balance transfers and more for $0 annual fee.
Who can benefit?
Who can benefit from the ManulifeMONEY+™ Visa* Platinum Card?
The ManulifeMONEY+™ Visa* Platinum Card makes sense if you are looking for a straightforward cash back credit card and already have an investment or insurance account through Manulife.
Pros and cons
Pros and cons
Pros
- No annual fee
- 2% cash back rate on groceries is competitive
- Introductory APR on balance transfers
- $500,000 in travel accident insurance
Cons
- Grocery category capped at $15,000 per year
- Base rewards rate of 0.5% cash back is lower than average
- Insurance protection is basic
How to earn rewards
How to earn rewards with the ManulifeMONEY+ Visa Platinum* Card
- Earn 2% cash back at grocery stores
- Earn 0.5% on everything else
The 2% cash back category is decent, although there is a $15,000 annual spending cap hidden away in the terms and conditions. That cap works out to $1,250/month or $288/week in grocery spending before the rewards drop to 0.5%. And while that sounds advantageous, remember that the estimated average annual grocery bill for a Canadian family in 2024 is $16,297.20.
In comparison, the American Express Cobalt® Card earns 5x points per $1 spent on groceries with no cap, although it does come with a $191.88 annual fee. The PC® World Elite Mastercard® is another no annual fee card without a grocery cap, but it only earns its 30x points (equal to 3% cash back) at Loblaws grocery stores, significantly reducing the card’s reach.
How to redeem
How to redeem
Redeeming rewards with the ManulifeMONEY+™ Visa* Platinum Card is simple. In fact, it’s so simple, you really don’t have to do anything at all. Cash back rewards are automatically posted to your account four times a year (in March, June, September and December). Cash back rewards do not contribute to your minimum payment. Instead, rewards offset the total balance and new statement balance periods.
Key benefits
Key benefits of the ManulifeMONEY+™ Visa* Platinum Card
- No annual fee and accelerated cash back: The biggest benefit of the ManulifeMONEY+™ Visa* Platinum Card is the lack of an annual fee. There are plenty of great grocery rewards credit cards out there, but many of those cards charge an annual fee in order to earn more than just the bare minimum number of rewards per dollar spent on your weekly shopping bill. Cash back rewards with the ManulifeMONEY+™ Visa* Platinum Card are simple enough: use your card to make purchases at grocery stores and earn 2% back on the first $15,000 in grocery spending; use it anywhere else Visa is accepted and earn 0.5% cash back per $1 spent.
- Travel insurance protection: The ManulifeMONEY+ Visa provides travel accident insurance coverage, which is something you typically don’t see with no annual fee rewards card. That policy provides up to $100,000 per trip in coverage should you (the cardholder and any insured persons) be injured when a covered trip is charged to your ManulifeMONEY+ account. It’s not a rare feature, but it’s still nice to have.
- $1,000 minimum credit limit: Manulife credit cards come with at least a $1,000 minimum credit limit. While a $1,000 credit limit might not seem generous, it’s a generous starting limit when you consider the fact that many larger banks give starting credit limits of $500 or below on occasion.
Insurance coverage
ManulifeMONEY+™ Visa* Platinum Card insurance coverage
Manulife credit cards come with robust travel and purchase protections built-in. The $0 annual fee option, the ManulifeMONEY+™ Visa* Platinum Card comes with significantly fewer insurance protections than its $139 annual fee sibling, but still offers more than just the bare essentials:
- Purchase protection: 90 days
- Extended warranty: 1 year
- Travel accident insurance: $100,000 per covered person, per trip
The above-mentioned PC® World Elite Mastercard offers comparable insurance coverage to the ManulifeMONEY+™ Visa* Platinum Card, with the noted exception of car rental insurance, something the Manulife card lacks.
Optional balance protection
Manulife also provides optional balance protection insurance. This coverage protects you from hardships with paying your credit card bill should illness, injury or unemployment impact your ability to pay on time. This coverage costs $0.99 for every $100 of your monthly total average daily balance.
Extra benefits
Extra benefits of the ManulifeMONEY+™ Visa* Platinum Card
- Offers Visa Zero-liability, in case of fraud on your account
- Mobile wallet compatibility with Apple Play, Google Pay, Samsung Pay, FitBit Pay and Garmin Pay
- Access to the Manulife mobile app
How it compares
How does the ManulifeMONEY+™ Visa* Platinum Card compare?
2.99% BT intro rate
Welcome Bonus
$303
First Year Value
$0
Annual Value
Get this card if you...
- want to earn cash back on everyday purchases
- don't mind paying a modest annual fee
- value extended warranty and purchase protection
Annual Fee & Annual Interest Rates
$39
Annual Fee
19.99%
Purchase
22.99%
Cash Advance
22.99%
Balance Transfer
Our Take
The Scotiabank Momentum® Visa* Card is a cash back credit card offering cash back on eligible gas station, grocery store, drug store purchases, and recurring bill payments and other eligible purchases. Cardholders benefit from purchase security and extended warranty protection, as well as discounts on car rentals at participating AVIS and Budget locations in Canada and the U.S.; however, the card carries an annual fee, and cash back is awarded only once per year as a statement credit, which may not suit those preferring more frequent redemption options.
Eligibility
Fair (300 - 619)
Recommended Credit Score
Pros
- Cash back rewards: Earn 2% cash back on gas, groceries, drug stores, recurring bill payments, and more, and 1% on all other eligible purchases.
- Annual cap benefits: The 2% cash back applies up to $25,000 spent annually in key categories, allowing for substantial rewards accumulation.
- Purchase security and extended warranty: Offers protection for new purchases against theft, loss, or damage and extends the manufacturer's warranty.
- Supplementary cards available: Although there's a fee, additional cards can be useful for shared expenses.
Cons
- Annual fee: The card has an annual fee of $39.
- High interest rate: The card has a high interest rate of 19.99% on purchases and 22.99% on cash advances.
- Limited rewards categories: The card’s rewards categories are limited to groceries, gas, and recurring bill payments.
- Rewards paid out annually: Cash back rewards are paid out annually as a statement credit.
- $25,000 annual cap for 2% cash back: The 2% cash back rate applies up to the first $25,000 spent annually on gas station, grocery store and drugstore purchases, and on recurring payments.
Annual Interest Rates
19.99%
Purchase
22.99%
Cash Advance
22.99%
Balance Transfer
2.99%
Balance Transfer (Introductory)
Fees
$39
Annual Fee
2.50%
Foreign Transaction
$5
Cash Advance
$29
Over The Limit Penalty
Rewards cash back
2%
cash back for every $1 you spend on all eligible gas stations, grocery store, drug store purchases, transit, ride share, food delivery, and recurring bill payments.
1%
cash back on all other eligible purchases.
25%
savings off base rates at participating AVIS locations and at participating Budget locations in North America.
90
days of purchase security on most items purchased with your card.
1
extra year on top of manufacturer's warranty.
Get a 2.99% introductory interest rate on balance transfers for the first 6 months (22.99% after that; annual fee $39).†
Rates, fees, offers and other information are effective as of July 2, 2025. Subject to change.
Our Take
The Scotiabank Momentum® Visa* Card is a cash back credit card offering cash back on eligible gas station, grocery store, drug store purchases, and recurring bill payments and other eligible purchases. Cardholders benefit from purchase security and extended warranty protection, as well as discounts on car rentals at participating AVIS and Budget locations in Canada and the U.S.; however, the card carries an annual fee, and cash back is awarded only once per year as a statement credit, which may not suit those preferring more frequent redemption options.
Eligibility
Fair (300 - 619)
Recommended Credit Score
Pros
- Cash back rewards: Earn 2% cash back on gas, groceries, drug stores, recurring bill payments, and more, and 1% on all other eligible purchases.
- Annual cap benefits: The 2% cash back applies up to $25,000 spent annually in key categories, allowing for substantial rewards accumulation.
- Purchase security and extended warranty: Offers protection for new purchases against theft, loss, or damage and extends the manufacturer's warranty.
- Supplementary cards available: Although there's a fee, additional cards can be useful for shared expenses.
Cons
- Annual fee: The card has an annual fee of $39.
- High interest rate: The card has a high interest rate of 19.99% on purchases and 22.99% on cash advances.
- Limited rewards categories: The card’s rewards categories are limited to groceries, gas, and recurring bill payments.
- Rewards paid out annually: Cash back rewards are paid out annually as a statement credit.
- $25,000 annual cap for 2% cash back: The 2% cash back rate applies up to the first $25,000 spent annually on gas station, grocery store and drugstore purchases, and on recurring payments.
Annual Interest Rates
19.99%
Purchase
22.99%
Cash Advance
22.99%
Balance Transfer
2.99%
Balance Transfer (Introductory)
Fees
$39
Annual Fee
2.50%
Foreign Transaction
$5
Cash Advance
$29
Over The Limit Penalty
Rewards cash back
2%
cash back for every $1 you spend on all eligible gas stations, grocery store, drug store purchases, transit, ride share, food delivery, and recurring bill payments.
1%
cash back on all other eligible purchases.
25%
savings off base rates at participating AVIS locations and at participating Budget locations in North America.
90
days of purchase security on most items purchased with your card.
1
extra year on top of manufacturer's warranty.
Get a 2.99% introductory interest rate on balance transfers for the first 6 months (22.99% after that; annual fee $39).†
Rates, fees, offers and other information are effective as of July 2, 2025. Subject to change.
The Scotiabank Momentum® Visa* Card is another no annual fee card choice that earns cash back on groceries. The card earns 2% cash back on eligible gas stations, grocery stores, drug stores and recurring payments and 1% back on all other purchases. The Scotiabank Momentum® Visa* Card also comes with a low balance transfer interest rate of 2.99% for the first six months compared with the ManulifeMONEY+ Card’s 1.99% intro balance transfer offer.
Conditions Apply. Visit here for the Scotiabank Momentum® Visa* Card to learn more. *See Card Provider's website and Card Application for complete card details, terms and current offers. Reasonable efforts are made to maintain accuracy of information.
up to 10,000 points
Welcome Bonus
$860
First Year Value
$360
Annual Value
Welcome Bonus: Earn 4 points per $1 spent on eligible restaurant, grocery, digital media, membership, and household utility purchases until $10,000 is spent annually. Plus, earn up to 10,000 bonus points†.
Get this card if you...
- want to earn rewards on everyday purchases such as groceries
- value flexible redemption options
- want to avoid paying any annual fees
Annual Fee & Annual Interest Rates
$0
Annual Fee
21.99%
Purchase
22.99%
Cash Advance
22.99%
Balance Transfer
Our Take
The MBNA Rewards Platinum Plus® Mastercard® is a no-annual-fee credit card that allows cardholders to earn rewards points on everyday purchases, with accelerated rates in categories such as groceries, restaurants, digital media, memberships, and household utilities. These points can be redeemed flexibly for travel, merchandise, gift cards, or cash back, providing versatility to suit various spending habits and preferences.
Eligibility
Good (620 - 670)
Recommended Credit Score
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
Annual Interest Rates
21.99%
Purchase
22.99%
Cash Advance
22.99%
Balance Transfer
Fees
$0
Annual Fee
2.50%
Foreign Transaction
3.00%
Balance Transfer
Rewards MBNA Rewards
10,000
Get up to 10,000 MBNA Rewards points†† as an introductory bonus (see details below)
Insurance Benefits
$1,000
Mobile device insurance amount
For the first 90 days of account opening, new cardholders will earn an additional 2 points/$1 spent on eligible restaurant, grocery, digital media, membership, and household utility purchases (on top of the regular earn rate of 2 points/$1 spent) until $10,000 is spent annually in each category.
Plus, new cardholders can get up to 10,000 bonus MBNA Rewards points †† when they sign up for paperless e-statements (5,000 points†) and make $500 or more in purchases within the first 90 days (another 5,000 points†).
Our Take
The MBNA Rewards Platinum Plus® Mastercard® is a no-annual-fee credit card that allows cardholders to earn rewards points on everyday purchases, with accelerated rates in categories such as groceries, restaurants, digital media, memberships, and household utilities. These points can be redeemed flexibly for travel, merchandise, gift cards, or cash back, providing versatility to suit various spending habits and preferences.
Eligibility
Good (620 - 670)
Recommended Credit Score
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
Annual Interest Rates
21.99%
Purchase
22.99%
Cash Advance
22.99%
Balance Transfer
Fees
$0
Annual Fee
2.50%
Foreign Transaction
3.00%
Balance Transfer
Rewards MBNA Rewards
10,000
Get up to 10,000 MBNA Rewards points†† as an introductory bonus (see details below)
Insurance Benefits
$1,000
Mobile device insurance amount
For the first 90 days of account opening, new cardholders will earn an additional 2 points/$1 spent on eligible restaurant, grocery, digital media, membership, and household utility purchases (on top of the regular earn rate of 2 points/$1 spent) until $10,000 is spent annually in each category.
Plus, new cardholders can get up to 10,000 bonus MBNA Rewards points †† when they sign up for paperless e-statements (5,000 points†) and make $500 or more in purchases within the first 90 days (another 5,000 points†).
The no annual fee MBNA Rewards Platinum Plus® Mastercard® offers a similar earn rate to the ManulifeMONEY+ Card. This card earns 2 MBNA Rewards points for every $1 spent†† in several categories, including groceries, restaurants, digital media, memberships and household utilities and 1 MBNA Rewards point for every $1 spent†† on any eligible purchase made with the card. Unlike the Manulife Card, the MBNA Platinum Plus comes with up to $1,000 in mobile device protection.
‡, ††, ✪, ***, Terms and Conditions apply. This offer is not available for residents of Quebec. For residents of Quebec, please click here. 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 “Apply Now” button. The Toronto-Dominion Bank is the issuer of this credit card. MBNA is a division of The Toronto-Dominion Bank. ®MBNA and other-trademarks are the property of The Toronto-Dominion Bank.
Is it worth it?
Is the ManulifeMONEY+™ Visa* Platinum Card worth it?
The ManulifeMONEY+™ Visa* Platinum Card appeals to a niche audience — namely, those who already have an account with Manulife and want a basic cash back credit card that offers enhanced rewards without an annual fee. And if that sounds like you, then it’s likely a match made in heaven.
Eligibility
Eligibility requirements
The ManulifeMONEY+™ Visa* Platinum Card is available to Canadian residents of the age of majority in their territory or province. There are no personal or household income requirements but you’ll need at least a good credit score when applying for the card.
Contact American Express for the most up-to-date referral bonus figures. American Express is not responsible for maintaining or monitoring the accuracy of information on this website. For full details and current product information, click the Apply Now link. If you apply and get approved for an American Express Card, (I/we) may receive compensation from American Express, which can be in the form of monetary payment.
Cory Santos
Senior Reporter
Cory Santos is a finance writer, editor and credit card expert with nearly a decade of experience in personal finance. Cory joined Wise Publishing from BestCards, with bylines in numerous print and digital publications across North America, including the Miami Herald, BlogTO, Debt.ca, AOL, MSN and Medium as well as financial podcasts like KOFE Talk. He's also the creator and author of the annual Money.ca Credit Card Awards.
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†Terms and Conditions apply.