MBNA Rewards World Elite® Mastercard®

Tangerine Money-Back Credit Card

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MBNA Rewards World Elite® Mastercard® vs Tangerine Money-Back Credit Card: Which one is better?

MBNA Rewards World Elite® Mastercard®

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RECOMMENDED CREDIT SCORE*

300

Poor

560

Fair

660

Good

725

Very Good

760

Excellent

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Tangerine Money-Back Credit Card

4.4

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RECOMMENDED CREDIT SCORE*

300

Poor

560

Fair

660

Good

725

Very Good

760

Excellent

Get your free credit score

Welcome Bonus*

20,000 bonus points†† (approximately $165 in cash back value) after you make $2,000 or more in eligible purchases within the first 90 days of your account opening. 10,000 bonus points††(approximately $80 in cash back value) once enrolled for paperless e-statements within the first 90 days of account opening. This offer is not available for residents of Quebec.

Welcome Bonus*

In the first 2 months, get a bonus 10% cash back up to $100. During your first 30 days, transfer balances up to your credit limit and pay an interest rate of only 1.95% on the transferred balance for 6 months (22.95% after that). A Balance Transfer fee of 1% on the amount transferred will apply.11

Our Cash Offer

$120 Cash Rebate offer from FinlyWealth

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Our Cash Offer

$50 $120 Cash Rebate offer from FinlyWealth

Promotional rebate expires on Sep 1, 2025

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Rewards Breakdown

Annual Rewards

$657.62

MBNA Rewards

First Year Bonus Value

$300

MBNA Rewards

Annual Fee

$120

Finly Rebate

$120

Exclusive Offer

First Year Value

$957.62

$537.62 in years after

Based on a hypothetical $2,000/mo average spending. Calculate your rewards.

Rewards Breakdown

Annual Rewards

$278.6

First Year Bonus Value

$100

Annual Fee

Finly Rebate

$50

$120

Exclusive Offer

First Year Value

$498.6

$278.6 in years after

Based on a hypothetical $2,000/mo average spending and assuming you have a Tangerine Savings account. Calculate your rewards.

How to Earn Rewards*

Earn 5 points^‡ for every $1 spent on eligible restaurant, grocery, digital media, membership, and household utility purchases until $50,000 is spent annually in the applicable category.
1 point^‡ for every $1 on all other eligible purchases.
Each year, you will receive Birthday Bonus Points^‡ equal to 10% of the total number of Points the Account earned in the 12 months before the month of the primary cardholder's birthday, to a maximum Birthday Bonus each year of 15,000 Points.

How to Earn Rewards*

2% on the choice of two categories chosen from the 10 offered by Tangerine (Grocery, Restaurants, Gas, Entertainment, Furniture, Hotel-Motel, Drug Store, Reoccurring Bill Payments, Home Improvement, Public Transportation and Parking).
Have your cash back Reward deposited in a Tangerine Savings Account and get a third 2% Money-Back Category.
0.5% cashback on all other credit card purchases.

Insurance Included*

Extended Warranty

Up to a year

Purchase Protection

Up to 90 days

Lost or Stolen Baggage

$1000/person

Baggage Delay

$1000/person

Car Rental Damage & Theft

31 days

Travel Accident

$1,000,000

Mobile Device Insurance

$1000

Emergency Out of province Medical

$2M for 21 days

Flight Delay

$500/person after 4 hours

Insurance Included*

Extended Warranty

Up to a year

Purchase Protection

90 days

Extra Benefits*

Price Protection

$500/item, $1000/account per year

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

Annual Birthday Bonus

10% of the Points earned the 12 months prior to the primary cardholder's birthday month (up to a max 15,000 bonus points per year)

Concierge Services

Extra Benefits*

N/A

Interest Rates*

Purchase:

19.99%¹

Cash Advance:

24.99%¹

Balance Transfer:

22.99%¹

Interest Rates*

Purchase:

20.95%²

Cash Advance:

22.95%²

Balance Transfer:

22.95%²

Annual Fee*

$120

Annual Fee*

Income Required*

Min Personal Income:

$80,000

Min Household Income:

$150,000

Income Required*

Min Personal Income:

N/A

Min Household Income:

N/A

Loyalty Program*

MBNA Rewards

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¢ / point

Statement Credits (Cash) - Platinum

0.5¢ / point

Point Redemption Options*

Not Applicable

Is this card worth it?

The MBNA Rewards World Elite® Mastercard® is one of the best reward credit cards in Canada, offering high rewards on frequently spent categories such as groceries and restaurant purchases. The annual birthday bonus, unique to this card, also provides a significant boost to your yearly earnings. Additionally, the card features a comprehensive list of benefits, including price protection—a rare and valuable perk not found with many other cards in Canada. These factors make this card one of the best to have in Canada.

Is this card worth it?

While we think Tangerine isn't the best single credit card to own, it's still a valuable card to have in your arsenal for maximizing your rewards. It offers one of the highest cashback rates for pharmacy and recurring bill payments, areas where your other credit cards might not provide significant rewards. This card only requires a Fair credit score, making it an excellent choice for people who don't have a high credit score yet.

Pros

Both restaurants and groceries, two of the most commonly spent categories, earn the most rewards.
The MBNA rewards world elite mastercard offers a great annual birthday bonus with up to $150 in value.
A solid list of travel insurance and benefits.
Price protection, a rare feature not offered by many other cards.
Good value for many of the card's redemption options.

Pros

Allows you to change the categories, and you get a 2% reward depending on how your spending is changing every 90 days.
2% cashback on recurring Transactions and pharmacy purchases. One of the highest cashback rates on these categories among credit cards in Canada.
Has cashback on Furniture and Home Improvement categories. Two categories that are not covered by any other card in Canada.
Easy credit score requirements needed for this card.
Overall, it is a good no-annual-fee cashback credit card, especially if you have a Tangerine Savings account.

Cons

Trip cancellation and interruption insurance, two great benefits are missing from this card.
Not the best card for gas purchases.

Cons

Insurance coverage is the most basic.
Very low cashback rate on the other categories not selected.

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Legal

^**, ††, ‡, ✪, ***, ††††, Terms and Conditions apply. This offer is not available for residents of Quebec. 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. Check here for full details and current product information.

^*11 Balance Transfer Promotional Offer at 1.95% for 6 months (1% Balance Transfer Fee) A Promotional Rate of 1.95% will apply to any and all Balance Transfers made within 30 days of the Account opening, and will remain in effect for 6 Statement Periods from the date the last such Balance Transfer was posted to the Account (the “Promotional Rate Period”). To take advantage of this Promotional Offer, you must complete the Balance Transfer request within 30 days of Account approval. You must also activate your Card within 45 days of Account approval for the requested Balance Transfer to be processed, or the Balance Transfer will be automatically cancelled. Balance Transfers are treated as Cash Advances on your Card and do not have an interest-free grace period. Balance Transfers may not exceed the available credit on the Account. If the Balance Transfer exceeds the available credit, the Balance Transfer transaction will not be processed. A 1% Balance Transfer Fee will be charged on each Balance Transfer amount and will be immediately charged to your Credit Card. This Balance Transfer Fee is waived by Tangerine if you are a resident of the province of Quebec at the time you accept this offer. Interest does not accrue on the Balance Transfer Fee, however it is included in the Minimum Payment amount on your monthly statement. You must continue to make all of your monthly Minimum Payments by the Payment Due Dates shown on your monthly statements. If you still have an amount owing from your Balance Transfer when the Promotional Rate Period ends, the Cash Advance interest rate of 22.95% will apply to that amount. You must continue to make the Minimum Payments on your Account, regardless of whether the Balance Transfer has been processed to your Account. We don’t charge interest on new Purchases that appear on your statement for the first time if we receive full payment of the Balance on your statement (including payment of any Balance Transfers included in that Balance), by the Payment Due Date on your statement. This means you will pay interest on new purchases that appear on your statement for the first time unless we receive payment of your entire balance each month by the payment due date. For example, if you do a promotional (or non-promotional) balance transfer for $7,000 and spend $500 in new purchases during the same statement cycle, we must receive payment of the entire balance of $7,500 on or before your payment due date to avoid paying interest on your new purchases that month of $500. Balance Transfers may not be used to transfer money to or from another Tangerine Account. See the Tangerine Credit Card Cardholder Agreement for more information about how we apply payments to your Account. Check here for full details and current product information.

¹ Important Notice - Effective from the first day of your statement period beginning September 2025 and reflected on your October 2025 statement, the following rates apply: Standard Annual Interest Rates of 21.99% on eligible purchases, 22.99% on balance transfers✪, and 22.99% on cash advances

² The annual interest rate on Purchases is 20.95% and Cash Advances (including Balance Transfers) is 22.95%. Rates are subject to change. If you don't make 2 consecutive monthly Minimum Payments, or at any time thereafter, an interest rate of 25.95% will apply to your Account on Purchases and 27.95% on Cash Advances (including Balance Transfers).