MBNA True Line® Mastercard® Review
Oct 21, 2026 6:56 PM
The Bottom Line
Voted the Best Balance Transfer Credit Card by FinlyWealth, the MBNA True Line offers a 0 percent introductory balance transfer rate, a feature that very few credit cards in Canada provide, along with a very competitive transfer fee. Beyond the promotional period, it continues to stand out with one of the lowest ongoing purchase interest rates in Canada. With no annual fee, this card is an excellent choice for Canadians looking to reduce interest costs.
Skip to: Detailed Review
Our choice for: Balance transfer and interest savings
on MBNA's website
Welcome Bonus
0% rate on balance transfers for 12 months (3% fee applies). Not available for residents of Quebec.†
Rewards Rate
0%
Annual Fee
$0
Interest Rates
12.99%* / 24.99%*
RECOMMENDED CREDIT SCORE
Rewards
- 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.
Benefits
Details
Car Rental Discount
10% off base rate of Avis Rent A Car and Budget Rent A Car in Canada and US and 5% internationally
Eligibility
Credit Score
GoodAnnual Income
N/A
Welcome Bonus Details
- 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.
Card Details
Interest Rates
Purchase APR
12.99%*
Cash Advance APR
24.99%*
Balance Transfer APR
17.99%*
Promotional Balance Transfer Rate
Promotional Rate
0%*
Promotional Period
12 months*
Transfer Fee
3%⁕
Fees
Annual Fee
$0
Additional Cards
$0
Eligibility
Minimum Individual Income
N/A
Minimum Household Income
N/A
Credit Score Estimate
Good
Type
Card Type
Credit
Reward Type
None
Pros & Cons
Pros
- No annual fee
- Balance transfer intro offer
- Low purchase interest rates
- Credit transfers
- Fraud protection
- Car rental discounts
Cons
- Flat transfer fee
- No rewards
Awards
Best Balance Transfer Credit Card
2026
Our Detailed Review
The MBNA True Line Mastercard is truly a top-pick for a low-interest credit card. In fact, it's one of the top low-interest credit cards in Canada.
Sure, with this card, you won’t receive any rewards or coverage, but that’s the compromise you make for substantial savings on interest rates, designed to reduce your monthly payments.
For more information on why this low-interest contender should be on your budget-conscious radar, keep reading.
How You Earn Rewards with the MBNA True Line Mastercard
As we briefly mentioned in the intro, the MBNA True Line Mastercard doesn’t have a rewards program. Instead, the card boasts impressive low-interest rates – something we’ll get into in the next section.
4 Benefits of the MBNA True Line Mastercard
There are plenty of perks that make the MBNA True Line Mastercard one of the best MBNA credit cards in Canada for balance transfers.
No Annual Fee
Nothing truly says budget-friendly like no annual fee. Pair that with some savings on interest rates, and you’ve got one of the best no-fee credit cards in Canada.
Low-Interest Balance Transfer Promotional Period
Perhaps the biggest stand-out feature of the MBNA True Line Mastercard is its promotional period, earning it a place on our list of best balance transfer credit cards in Canada. With this offer, you’ll receive 0% interest for the first year of membership on balance transfers completed within the first few months (specifically 90 days) of account opening.
Still, keep in mind that this welcome bonus is accompanied by a 3% transfer fee.
There are few additional details to note before making a transfer. The total amount you transfer can’t exceed your authorized credit limit, and you can’t use a balance transfer to pay down a balance you owe to MBNA or any member of the TD Bank Group. Once the 12 months are up, the standard balance transfer rate of 17.99% applies to anything you haven’t paid off. This offer also isn’t available to residents of Quebec.
Low Purchase Interest Rates
Beyond the promotional period, cardholders can expect all-time low interest rates on purchases – perfect for those planning to put some balance on their MBNA True Line Mastercard.
Car Rental Discounts
Despite having no rewards program or insurance coverage, the MBNA True Line Mastercard includes one benefit that road trippers might enjoy.
With this card, take 10% off the base rate of Avis Rent A Car and Budget Rent A Car rentals. These discounts tend to be higher at locations in Canada and the U.S., but lower discount rates are also available through international dealers.
2 Downsides to the MBNA True Line Mastercard
When it comes to credit card reviews, we tell the truth, and truthfully, the MBNA True Line Mastercard has some downsides.
No Rewards or Coverage
It should come as no surprise that one of this card’s biggest downfalls is the fact that it has no rewards program or insurance coverage – but that’s kind of to be expected with most low-interest credit cards.
Higher Interest Rates Outside of the Promotional Period
After the promotional period, apart from the interest rates on purchases, rates on balance transfers and cash advances are still decently high compared to other low-interest options.
Comparison to Two Other Top Low-Interest Credit Cards
Now that we’ve identified both the MBNA True Line Mastercard’s strong points and shortcomings, it’s time to compare it to other top low-interest credit cards on the Canadian market.
This way, you can see where the MBNA True Line Mastercard continues to prevail and where another option might be better suited to your spending habits.
Here’s a quick overview of the comparisons we’ll be making:
Limited offer
Scotiabank
3.8
Annual Fee
$0
$29
$0 first year
$399
Interest Rates
Purchase
12.99%*
Cash advance
24.99%*
Balance transfer
17.99%*
Rate details
Purchase
13.99%*
Cash advance
13.99%*
Balance transfer
13.99%*
Rate details
Purchase
9.99%
Cash advance
9.99%
Balance transfer
9.99%
Welcome Bonus
0% rate on balance transfers for 12 months (3% fee applies). Not available for residents of Quebec.†
0% interest on balance transfers for 9 months + first year fee rebate + extra savings at shell
Earn up to $3,000* in value in the first 14 months, including up to 100,0001 bonus Scene+ points.
Rewards
N/A
N/A
2x
on MBNA's website
on Scotiabank's website
on Scotiabank's website
Welcome Bonus Details
Earn Rates
Insurance Coverage
Extra Benefits
Requirements
MBNA True Line Mastercard vs Scotiabank Value Visa Card
Unlike the MBNA True Line Mastercard, this Visa card comes with a small annual fee. Luckily though, the annual fee is completely waived in the first year of membership.
Moving on to welcome bonuses, while both cards provide promotional offers on balance transfers, the MBNA True Line Mastercard has the better bonus since it supplies cardholders with 0% interest in the first year, whereas the Scotiabank Value Visa Card offers a 0.99% balance transfer rate for the first 9 months of membership instead.
Overall though, the Scotiabank Value Visa Card has lower interest rates on both cash advances and balance transfers outside of the promotional period. However, the MBNA True Line Mastercard still has the best low-interest rate on purchases.
Like the MBNA True Line Mastercard, the Scotiabank Value Visa Card has no rewards program or included coverage. That said, you can opt into balance protection insurance through either a Basic or Comprehensive protection plan.
The two low-interest contenders offer car rental discounts at Avis Rent A Car and Budget Rent A Car locations, except the discount rates are actually higher with the Scotiabank Value Visa.
Ultimately, if you’re looking for better overall low-interest rates on cash advances and balance transfers, plus the opportunity to opt into balance protection insurance, the Scotiabank Value Visa Card might be better suited to you. On the other hand, if you’re more concerned about the interest rates on your purchases and you want a better balance transfer welcome bonus if you want to pay of your balance faster, all for no annual fee, stick to the MBNA True Line Mastercard.
MBNA True Line Mastercard vs Scotiabank Platinum American Express Card
So far, we’ve covered a low-interest Mastercard and a low-interest Visa Card, now it’s time to throw a low-interest American Express credit card into the mix – just to cover all of our bases!
The Scotiabank American Express Card is a bit more exclusive than our previous two low-interest competitors. This card comes with a substantial annual fee and some low income requirements, but there’s a reason for this.
For starters, this contender has the lowest interest rates on purchases, cash advances, and balance transfers at all times – even without having an interest-specific welcome bonus.
Secondly, unlike the MBNA True Line Mastercard (or the Scotiabank Value Visa Card for that matter), the Scotiabank American Express Card actually has a rewards program, earning cardholders a flat rate of Scene+ points on all eligible purchases, plus some bonus points per dollar spent on hotel bookings, car rentals, and arrangements made through Scene+ Travel, powered by Expedia.
If that wasn’t enough, the Scotiabank Platinum American Express Card also has a whopping 13 insurance categories, with valuable travel inclusions like trip interruption and trip cancellation insurance, hotel burglary insurance, and emergency medical coverages.
On top of this, you can expect plenty of premium perks, like no foreign transactions fees (which allows cardholders to avoid the 2.5% fee on international transactions), a Hertz #1 Club Gold Member status lift, and most importantly, tons of complimentary airport lounge access through Priority Pass and Plaza Premium lounges.
Clearly, you’d only apply for the Scotiabank Platinum American Express Card over the MBNA True Line Mastercard if you’re a high spending frequent luxury traveller that’s still looking to save on interest rates. Otherwise, the MBNA True Line Mastercard is much more affordable, accessible, and straight to the point.
Final Verdict
If you’re in search of the best no-fee low-interest credit card, your journey just might end here.
The MBNA True Line Mastercard has nearly everything a budget-conscious cardholder could ask for – including an impressive balance transfer welcome bonus and all-time low interest rates on purchases. They’ve even thrown in some car rental discounts as an added benefit, perhaps to make up for its lack of a rewards program and insurance coverage.
Of course, if you’re looking for better interest rates on cash advances and balance transfers outside of a promotional period, you might want to spend a little more on cards like the Scotiabank Value Visa. Or, if you want the lowest interest rates possible across all interest categories, plus tons of premium benefits, coverage, and a rewards program – consider splurging for the Scotiabank Platinum American Express Card instead.
Frequently Asked Questions
The MBNA True Line® Mastercard® (sometimes written as “TrueLine”) is a no-annual-fee, low-interest credit card from MBNA, a division of TD Bank. It doesn’t earn rewards, but it offers a 12.99% interest rate on purchases and a 0% promotional rate on balance transfers for 12 months (a 3% transfer fee applies).
No. Despite the name, the MBNA True Line Mastercard is a credit card, not a personal line of credit. It comes with an authorized credit limit like any other credit card, and it has interest rates for purchases, balance transfers, and cash advances.
Yes, in fact, it’s our pick for the Best Balance Transfer Credit Card of 2026. You could get a 0% promotional interest rate for 12 months on balance transfers completed within 90 days of account opening, with a 3% transfer fee. Transfers can’t exceed your authorized credit limit and can’t be used to pay down balances owed to MBNA or any member of the TD Bank Group. The offer isn’t available to residents of Quebec.
The standard annual interest rates are 12.99% on purchases, 17.99% on balance transfers, and 24.99% on cash advances. If you qualify for the promotional offer, balance transfers completed within 90 days of account opening get a 0% rate for 12 months.
It’s a strong pick if you’d rather save on interest than earn rewards. We rate it 5/5 thanks to its $0 annual fee, 12.99% purchase rate, and 0% balance transfer offer. The trade-offs are that it has no rewards program or insurance coverage, and its cash advance and post-promotion balance transfer rates are higher than some other low-interest cards.
About the author
Kevin Shahnazari
Co-founder
Kevin started FinlyWealth and juggles a bit of everything—digging into data, running our marketing, and keeping the finances on track. Before this, he spent years as a data scientist at tech companies...
SEE FULL BIOAbout the editor
Abid Salahi
Co-founder
Abid leads the design and engineering of the FinlyWealth website, making sure everything runs smoothly and looks great. He’s a seasoned software engineer who follows best practices and designs interfa...
SEE FULL BIOAbout the reviewer
Sara Skodak
Lead Writer
Since graduating from the University of Western Ontario, Sara has built a diverse writing portfolio, covering topics in the travel, business, and wellness sectors. As a self-started freelance content ...
SEE FULL BIOGet personalized rewards estimates — see exactly how much you could earn.
MBNA True Line® Mastercard®
on MBNA's website