The MBNA Rewards World Elite® Mastercard® is like multiple cards in one. You can redeem your points for travel, gift cards, merchandise, or a statement credit – the choice is yours, and your points never expire. The pace at which you’ll collect rewards with the card is also stellar, as it has some of the highest earn rates available in categories you probably spend a lot of money in.

You get five points per dollar spent on groceries, restaurants, digital media, memberships, and household utilities. All other purchases outside those categories earn one point per $1 spent.

To further entice people to try the card, MBNA offers up to a 30,000-point welcome bonus††. All that’s required to earn it is to make $2,000 in eligible purchases (20K points††), and to enroll for paperless e-statements (another 10K points††), both within the first 90 days of your account opening. 30,000 points are worth approximately $300 when redeemed for travel or $250 when redeemed for a card statement, so the welcome bonus more than offsets the card’s $120 annual fee in your first year. But the card also has another unusual benefit that gives it added long-term value: Each year you receive up to 15,000 extra points as part of your Birthday Bonus, which amounts to 10% of the total number of points you earned in the 12 months prior to your birthday.

Pros and cons



  • 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



  • 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

Feature breakdown

Aside from its appealing rewards structure, here are some of the other perks that help the MBNA Rewards World Elite® Mastercard® stand out from the pack:

  • Rental vehicle collision damage waiver benefits
  • Price protection: If you make a purchase with your card and find the same product advertised in Canada at a lower price within 60 days after purchase, the difference will be refunded, up to $500 per item and $1000 per year across all price protection claims.
  • Purchase assurance: Covers eligible items purchased with your MBNA credit card for the first 90 days from the date of purchase.
  • Extended warranty benefits: Doubles eligible warranties for up to one additional year on eligible purchases made with your MBNA credit card.
  • Travel benefits: Lost Document and Ticket Replacement, Lost Luggage Assistance, Legal Assistance
  • Travel insurance:  Coverage for Common Carrier Accidents, Unexpected Return Home, Personal Effects, and Travel Medical Insurance
  • Mobile device insurance: Up to $1,000 in coverage for eligible mobile devices in the event of loss, theft, accidental damage, or mechanical breakdown

About MBNA rewards

MBNA Rewards points can be redeemed on virtually whatever the cardholder wants, including cash back against a statement, travel rewards (airfare, hotels, rental cars), gift cards, merchandise, and more. When redeeming MBNA Rewards for travel, 100 points are worth $1. When redeeming for cash back against a statement, 120 points are worth $1 (or about $0.0083 per point). That’s a very, very good rate for redeeming points against a statement credit; most rewards cards give a rate of $0.005 per point for those redemptions.

Is it worth it?

With the first year’s annual fee more than made up for by the card’s big welcome bonus; particularly good earn rate for high-spend categories like groceries and restaurants; and flexible redemption options for cash, travel or merchandise, this card is a good fit for those who want to earn and redeem rewards without rearranging their spending habits or stressing over redemption restrictions. The addition of price protection and the other benefits are just icing on the cake.

On the other hand, the card does not have the strongest travel insurance package relative to other rewards cards at its annual price point.


You will need to either have a minimum personal income of $80,000 or a minimum household income of $150,000 to be eligible for the card††††. If you don’t meet those income requirements you might consider the MBNA Rewards Platinum Plus® Mastercard® instead.

Recommended readBMO World Elite MasterCard vs. MBNA Rewards World Elite Mastercard.

††, , , ***, ††††, Terms and Conditions apply.

This offer is not available for residents of Quebec.

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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.

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