MBNA Rewards Platinum Plus Mastercard® vs MBNA True Line® Mastercard®: Which one is better?
MBNA Rewards Platinum Plus Mastercard®
3.4
MBNA True Line® Mastercard®
5
Finly Rebate
N/A
Finly Rebate
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 $2,000/mo average spending. Calculate your rewards.
Rewards Breakdown
Annual Rewards
$0
First Year Bonus Value
$0
Annual Fee
$0
First Year Value
$0
Based on $2,000/mo average spending. Calculate your rewards.
Insurance Included*
Mobile Device Insurance
$1000
Extended Warranty
Up to a year
Purchase Protection
Up to 90 days
Insurance Included*
N/A
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
Interest Rates*
Purchase:
19.99%
Cash Advance:
24.99%
Balance Transfer:
22.99%
Interest Rates*
Purchase:
12.99%2
Cash Advance:
24.99%2
Balance Transfer:
17.99%2
Annual Fee*
$0
Annual Fee*
$0
Income Required*
Min Personal Income:
N/A
Min Household Income:
N/A
Income Required*
Min Personal Income:
N/A
Min Household Income:
N/A
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*
You could get a 0% promotional annual interest rate (“AIR”)† for 12 months on balance transfers✪ completed within 90 days of account opening, with a 3% transfer fee. This offer is not available for residents of Quebec.
Rewards Rate*
- 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
Rewards Rate*
- No rewards earned on purchases.
- Standard Annual Interest Rates of 12.99% on eligible purchases, 17.99% on balance transfers✪, and 24.99% on cash advances.
- You could get a 0% promotional annual interest rate (“AIR”)† for 12 months on balance transfers✪ completed within 90 days of account opening, with a 3% transfer fee. This offer is not available for residents of Quebec.
- Use available credit on your credit card to transfer funds right to your chequing account.
- Around-the-clock fraud protection.
Loyalty Program*
Loyalty Program*
N/A
Point Redemption Options*
Most Optimal
Travel
1¢ / point
Gift Cards
0.85¢ / point
Statement Credits (Cash) - World Elite
0.83¢ / 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?
Even though this card offers no benefits or rewards, the amount you can save on interest is substantial, making it an excellent option for reducing your monthly payments.
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
- Great to reduce monthly interest payments during the promotional period.
- Low purchase interest rate for people planning to put some balance on their credit card.
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
- A flat fee has to be paid on the balance to make the transfer happen.
- Not a good card other for purposes other than balance transfer.
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