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Updated: December 27, 2023

We adhere to strict standards of editorial integrity to help you make decisions with confidence. Please be aware that some (or all) products and services linked in this article are from our sponsors.

We adhere to strict standards of editorial integrity to help you make decisions with confidence. Please be aware this post may contain links to products from our partners. We may receive a commission for products or services you sign up for through partner links.

Quick overview

The Royal Canadian Legion MBNA Rewards Mastercard is a rewards credit card that has no annual fee and a welcome bonus of up to 5,000 MBNA Rewards Points. It'll appeal to those who frequently spend on restaurant, grocery, digital media, membership and household utility purchases, offering 2 points per $1 spent in these categories up to $10,000 annually. Other purchases earn 1 point per dollar. The card also includes birthday bonus points, flexible rewards redemption options and the MBNA Payment Plan for large purchases.

Another great feature with the card is that spending on eligible purchases helps support the care of Canadian veterans and their families.  

However, the card's purchase APR (19.99%) and the cash advance APR is (24.99%) are on the high end, which will be off putting for those who regularly carry a balance. 

Who is this card for

This card is ideal for individuals who value rewards for everyday spending, especially in categories like groceries and dining out, without having to pay an annual fee. It's geared toward people who appreciate flexible reward options and are comfortable with standard APR rates.

Pros and cons



  • No annual fee

  • Offers a welcome bonus of up to 5,000 points

  • Earn up to 2 points for every $1 spent on eligible purchases

  • Earn up to 2 points for every $1 spent on eligible purchases; points never expire as long as the account is open

  • Flexible rewards redemption options for things like travel, gift cards, merchandise, and more

  • Additional card benefits include purchase assurance, extended warranty coverage, car rental discounts, and more

  • A unique Birthday Bonus: Earn 10% of the total points earned the year prior, up to a maximum of 10,000 points.

  • Travel and security perks like lost luggage assistance, ticket replacement services and security features



  • High interest rates

  • No introductory balance transfer rate

  • Cap on higher earn rate categories

Welcome bonus

  • Earn 2,500 bonus points after your first eligible purchase within 90 days of account opening.
  • Additional 2,500 bonus points for enrolling in e-statements within the first 90 days.
  • Total potential Welcome Bonus: 5,000 MBNA Rewards Points.

How to earn points

  • Earn 2 points for every $1 spent on eligible restaurant, grocery, digital media, membership and household utility purchases, up to $10,000 annually.
  • 1 point for every $1 spent on all other eligible purchases.
  • No maximum limit on points earned on general purchases.

Key benefits

  • No annual fee.
  • Flexible rewards redemption options including cash back, merchandise, gift cards and travel.
  • Birthday bonus points equal to 10% of the total points earned in the previous year, up to 10,000 points.

Insurance coverage

  • Mobile Device Insurance: Up to $1,000 coverage for eligible mobile devices in case of loss, theft, accidental damage, or mechanical breakdown.
  • Purchase Assurance: Coverage for eligible items purchased with the card if stolen or damaged within 90 days from the date of purchase, with a lifetime limit of $60,000 per account.
  • Extended Warranty Benefits: Doubles the manufacturer's warranty for up to one additional year on eligible new purchases.


  • Savings with Avis Rent A Car and Budget Rent A Car.
  • The MBNA Payment Plan can make it more convenient to pay for large purchases and manage your budget. Pay for eligible credit card purchases of $100 or over by making monthly payments. 

How this card compares

MBNA Royal Canadian Legion Rewards Mastercard vs. Neo Credit Card

When considering the MBNA Royal Canadian Legion Rewards Mastercard and the Neo Credit Card, your choice should depend on your spending habits and reward preferences. The MBNA card offers a unique opportunity to support Canadian veterans while earning rewards. With no annual fee, it provides up to 5,000 bonus points and a rewards rate of 2 points per $1 on select categories, and 1 point per $1 on other purchases. Additionally, it offers Birthday Bonus points and flexible redemption options, including cash back and travel.

The Neo Credit Card, known for its high average cash back rates, might appeal more if you prioritize cash rewards. It offers an average of 5% cashback at thousands of partners and a minimum of 1% cashback overall, with no annual fee. However, the specific cash back rate can vary significantly based on where you shop.

MBNA Royal Canadian Legion Rewards Mastercard vs. SimplyCash Card from American Express

Comparing the MBNA Royal Canadian Legion Rewards Mastercard with the SimplyCash Card from American Express, the latter is appealing to those interested in straightforward cash back. The SimplyCash Card offers a flat cash back rate of 1.25% on all purchases, with no limit on the amount you can earn, and no annual fee. It also offers 2% cash back on eligible gas purchases in Canada, and 2% cash back on eligible grocery purchases in Canada (up to $300 cash back annually). 

The MBNA card, while also having no annual fee, offers a more complex rewards system with the potential for higher rewards in specific categories and the added benefit of supporting veterans. Its reward structure is more beneficial if your spending aligns with its bonus categories.

MBNA Royal Canadian Legion Rewards Mastercard vs. Tangerine World Mastercard

When comparing the MBNA Royal Canadian Legion Rewards Mastercard to the Tangerine World Mastercard, the latter might be more appealing if you prefer customizable rewards. The Tangerine card allows you to choose two or three bonus categories (if you deposit your rewards into a Tangerine Savings account) where you earn 2% cash back, with 0.5% cash back on all other purchases. There's no annual fee, making it a flexible choice for rewards.

The MBNA card, offering support for veterans, also has no annual fee and provides a more diverse rewards program, including a unique birthday bonus. It's more suited for those who value supporting a cause while earning rewards in specific categories.

Is the card worth it?

The MBNA Royal Canadian Legion Rewards Mastercard is worth considering if you like the idea of having no yearly fees and earning rewards on everyday purchases, especially in its bonus categories. Its unique feature of supporting veterans adds a charitable aspect. However, high interest rates and lack of comprehensive benefits like travel insurance might be drawbacks for some. It's ideal for those who spend regularly in its reward categories and are interested in supporting a cause while earning points.


  • Which bank owns MBNA Mastercard?


    MBNA Mastercard is owned by The Toronto-Dominion Bank, commonly known as TD Bank Group, one of Canada's largest financial institutions.

  • Which credit cards are owned by MBNA?


    MBNA offers a variety of credit cards, including rewards cards, cash back cards, travel cards and low-interest cards, catering to diverse consumer needs.

  • What is the minimum credit score for MBNA Canada?


    The minimum credit score typically required for MBNA Canada credit cards is around 660-670, which is considered to be in the fair to good range.

  • Which credit agency does MBNA use?


    MBNA primarily uses TransUnion, one of the major credit reporting agencies in Canada, for credit checks and reporting.

About our author

Justin da Rosa
Justin da Rosa, Freelance Writer

Justin is a writer and editor who has been covering personal finance for over 10 years. He's written for companies such as KOHO, Ratehub, BMO, Zoocasa, and Questrade, among others. Justin also created a course in Content Creation, which he taught at York University for four years. When not writing, Justin can be found at a live concert, on the golf course, riding a motorcycle, or sailing.


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