MBNA Rewards Platinum Plus Mastercard® vs MBNA Smart Cash® World Mastercard®: Which one is better?
MBNA Rewards Platinum Plus Mastercard®
3.4
MBNA Smart Cash® World Mastercard®
3.1
Welcome Bonus*
5,000 bonus points for going paperless, 5,000 bonus points after spending $500 in 90 days, and 4 points†† for every $1 spent on eligible restaurant, grocery, digital media, membership and household utility purchases during the first 90 days. This offer is not available for residents of Quebec.
Welcome Bonus*
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)
Rewards Breakdown
Annual Rewards
$362.41
MBNA Rewards
First Year Bonus Value
+
$152.97
MBNA Rewards
Annual Fee
-
$0
First Year Value
$515.37
$362.41 in years after
Based on a hypothetical $2,000/mo average spending. Calculate your rewards.
Rewards Breakdown
Annual Rewards
$300
MBNA Rewards
First Year Bonus Value
+
$90
MBNA Rewards
Annual Fee
-
$39
First Year Value
$351
$261 in years after
Based on a hypothetical $2,000/mo average spending. Calculate your rewards.
How to Earn Rewards*
- Earn 4 points†† for every $1 spent on eligible restaurant, grocery, digital media, membership and household utility purchases during the first 90 days (these earn rates apply until $10,000 is spent annually in the applicable category)
- 2 points‡ for every $1 spent on restaurant, grocery, digital media, membership and household utility purchases (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
- 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
How to Earn Rewards*
- Get 2% Cash Back‡ on eligible gas and grocery purchases (until the total gas and grocery purchases in the applicable month reaches $500)
- Get 1% Cash Back‡ for all other eligible purchases
Insurance Included*
Extended Warranty
Up to a year
Purchase Protection
Up to 90 days
Mobile Device Insurance
$1000
Insurance Included*
Extended Warranty
Up to a yearPurchase Protection
Up to 90 days.svg)
Car Rental Damage & Theft
Up to 31 days
Car Rental Accident
$200,000
Travel Accident
$1,000,000
Price Protection
$500/item, $1,000/year.svg)
Car Rental Personal Effects
$1,000/person, $2,000/occurence
Extra Benefits*
Car Rental Discount
10% off base rate of Avis Rent A Car and Budget Rent A Car in Canada and US and 5% internationally
Annual Birthday Bonus
10% of the Points earned the 12 months prior to the primary cardholder's birthday month (up to a max 10,000 bonus points per year)
Extra Benefits*
Car Rental Discount
10% off base rate of Avis Rent A Car and Budget Rent A Car in Canada and US and 5% internationally
Trip and legal Assistance
Support for emergency cash transfer, lost document and ticket replacement, lost baggage assistance, pre-trip information and legal assistance while traveling
Interest Rates*
Purchase:
19.99%1
Cash Advance:
24.99%1
Balance Transfer:
22.99%1
Interest Rates*
Purchase:
19.99%2
Cash Advance:
24.99%2
Balance Transfer:
22.99%2
Annual Fee*
$0
Annual Fee*
$39
Income Required*
Min Personal Income:
N/A
Min Household Income:
N/A
Income Required*
Min Personal Income:
$50,000
Min Household Income:
$80,000
Loyalty Program*
Loyalty Program*
N/A
Point Redemption Options*
Most Optimal
Travel
1¢ / point
Gift Cards
0.98¢ / point
Statement Credits (Cash) - World Elite
0.82¢ / point
Merchandise
0.8¢ / pointStatement Credits (Cash) - Platinum
0.5¢ / point
Point Redemption Options*
Not Applicable
Is this card worth it?
The MBNA Rewards Platinum Plus MasterCard is a solid no-annual-fee card choice with high returns on restaurant and grocery purchases, which are the most common spending categories for most people. Additionally, it offers one of the highest signup bonuses for a no-annual-fee card. However, there are two main considerations before choosing this card. If you are open to a card with an annual fee, many other cards offer better rewards. Furthermore, the points earned need to be used for travel to fully benefit from this card; otherwise, if you are not planning to use the points for travel, you are better off with a cashback or another type of card.
Is this card worth it?
The MBNA Smart Cash World Mastercard offers decent rewards, especially with its 5% introductory rate on gas and groceries. However, the income requirements and spending caps may limit its appeal to higher earners. If you want flexible rewards and strong insurance coverage, it's a solid option with a low annual fee of $39.
Pros
- One of the best no-annual-fee credit cards in Canada, both in terms of rewards and signup bonus.
- Both restaurants and groceries, two of the most commonly spent categories, earn decent rewards.
- Great annual birthday bonus with up to $100 in value.
Pros
- 5% cash back on gas and groceries for the first 6 months: A solid introductory offer for essential spending categories.
- Up to 2% cash back: Earn 2% on gas and grocery purchases up to $500 monthly.
- Comprehensive insurance: Includes 8 types of insurance, including rental car and price protection.
- Flexible reward redemption: Redeem cash back as a statement credit, deposit to a bank account, or donate to charity.
Cons
- Points must be used for travel otherwise the points won't have much value
- There are better alternative cards both for cashback and paid cards that have higher reward rates
Cons
- High income requirements: $50,000 personal or $80,000 household income needed.
- Cap on rewards for gas and groceries: 2% cash back is limited to $500 in monthly spending for these categories.
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