MBNA True Line® Gold Mastercard® Review

Convenient for those who carry a balance, the MBNA True Line Gold Mastercard offers a permanently low interest rate on purchases and balance transfers.

That said, this card lacks a rewards program and low-interest promotional period – but slightly makes up for it with the inclusion of a few extra perks.

To learn more about this debt-friendly option, keep reading.

2 Benefits of the MBNA True Line Gold Mastercard

There are a few benefits that might prompt you to apply for the MBNA True Line Mastercard, one of the best MBNA credit cards in Canada.

With this card, you can expect:

All-Time Low Interest Rates

As mentioned in the intro, the MBNA True Line Gold Mastercard boasts low interest rates on purchases and balance transfers at all times. However, unlike other low-interest credit cards, the MBNA True Line Gold Mastercard lacks a low-interest promotional period to lower interest rates even further.

Keep in mind as well that cash advance rates remain standard.

Trip and Legal Assistance

To help you out during your travels, the MBNA True Line Gold Mastercard is equipped with trip and legal assistance.

These services include:

• Lost document and ticket replacement
• Lost luggage assistance
• Pre-trip information
• Legal help while abroad

Car Rental Discounts

Are you taking road trips from time to time? If so, the MBNA True Line Gold Mastercard has you covered.

Enjoy car rental discounts at Avis and Budget locations. 

Discounts are higher across Canada and the U.S. than they are internationally.

4 Downsides to the MBNA True Line Gold Mastercard

To keep things balanced, we’re also going to go over the MBNA True Line Gold Mastercard’s downfalls.

Watch out for this card’s:

Annual Fee

Unfortunately, unlike other low-interest contenders, the MBNA True Line Gold Mastercard has an annual fee.

The fee isn’t anything substantial, but if you're looking for something completely budget-friendly, it’s definitely worth considering.

No Low-Interest Promotional Period

We've said it before, but we'll say it again. Unlike other low-interest credit cards on the Canadian market, the MBNA True Line Gold Mastercard lacks a low-interest or no-interest promotional period to help cardholders catch up on debt.

Higher Cash Advance Interest Rates

As previously stated, the MBNA True Line Gold Mastercard comes with higher cash advance interest rates in comparison to its lower interest rates on purchases and balance transfers. 

Keep this in mind if you’re looking for a well-rounded low-interest contender.

Lack of a Rewards Program

This shortcoming isn’t exactly a shock, considering the MBNA True Line Mastercard is a low-interest card. Typically, the focus of a low-interest credit card is just that: the low interest.

Still, if you’re willing to pay a hefty annual fee, some options like the Scotiabank Platinum American Express Card can cater to your preference for a rewards program whilst still providing you with some all-time low interest rates.

Comparison to Other Low-Interest Credit Cards

Before we bring things to a close, we’re going to leave you with some comparisons between the MBNA True Line Gold Mastercard and its close competitors.

Here’s a quick look at these comparisons side-by-side:

MBNA

3.9

MBNA True Line® Gold Mastercard®View full review

Low purchase interest rate

MBNA

5.0

MBNA True Line® Mastercard®View full review

Balance transfer and interest savings

CIBC

4.0

CIBC Select Visa* CardView full review

Limited offer

Scotiabank

4.6

Scotiabank Value® Visa* CardView full review

Annual Fee

$39

$0

$29

$0 first year

$29

$0 first year

Interest Rates

Purchase

10.99%

Cash advance

24.99%

Balance transfer

13.99%

Purchase

12.99%^*

Cash advance

24.99%^*

Balance transfer

17.99%^*

Rate details

Purchase

13.99%

Cash advance

13.99%

Balance transfer

13.99%

Purchase

13.99%^*

Cash advance

13.99%^*

Balance transfer

13.99%^*

Rate details

Welcome Bonus

—

0% rate on balance transfers for 12 months (3% fee applies). Not available for residents of Quebec.†

Balance transfer 0% interest for up to 10 months with a 1% transfer fee‡

0% interest on balance transfers for 9 months + first year fee rebate + extra savings at shell

Rewards

N/A

N/A

N/A

N/A

Apply Now

on MBNA's website

View Terms & Conditions

Apply Now

on MBNA's website

View Terms & Conditions

Learn More

View Terms & Conditions

Apply Now

on Scotiabank's website

View Terms & Conditions

Welcome Bonus Details

Earn Rates

Insurance Coverage

Extra Benefits

Requirements

MBNA True Line Gold Mastercard vs MBNA True Line Mastercard

The MBNA True Line Gold Mastercard’s closest competitor is the MBNA True Line Mastercard.

For starters, this alternative comes with no annual fee, making it much more affordable than the MBNA True Line Gold Mastercard.

As you may have guessed, both cards lack a rewards program because the most rewarding thing about them is their interest rates. While the MBNA True Line Mastercard has slightly higher (although still generally low) interest rates on purchases and balance transfers, it includes the best balance transfer welcome bonus available. This bonus gives cardholders 0% interest on balance transfers completed within the first few months of account opening for an entire year. So, if you’re transferring carried over funds to the MBNA True Line Mastercard, and you’re able to catch up on your repayments within a year, this card is the best balance transfer option available.

Unfortunately, unlike the MBNA True Line Gold Mastercard, the MBNA True Line Mastercard lacks insurance coverage and only includes car rental discounts at Avis and Budget locations rather than discounts and trip and legal assistance.

Still, if you’re planning on making a balance transfer as a method of debt consolidation, due to its phenomenal balance transfer promotional period, the MBNA True Line Mastercard should be your top choice – especially considering it’s a no-fee low-interest contender. Otherwise, if you need more time to tackle balance transfer debt and you want less interest on purchases, plus some basic coverage and an extra perk, the MBNA True Line Gold Mastercard may be a better fit.

MBNA True Line Gold Mastercard vs CIBC Select Visa Card

The CIBC Select Visa Card has a higher overall interest rate on purchases, matches the MBNA True Line Gold Mastercard’s balance transfer interest rate, and provides a lower cash advance interest rate.

The best part? Unlike the MBNA True Line Gold Mastercard, the CIBC Select Visa Card comes with an interest-free welcome bonus on balance transfers. This promotional period lasts for 10 months with a low (1%) transfer fee. 

That said, there's a critical caveat to the CIBC Select Visa Card. Unfortunately, cardholders are only allowed to transfer 50% of the approved credit limit to the card. As it is, balance transfer credit cards don't typically have a very high credit limit to begin with, so some spenders tend to want to max them out with their balance transfers to manage as much debt as possible. With this in mind, the CIBC Select Visa Card limits how much you can transfer over even further by cutting that allowance in half. As a result, most people prefer the MBNA True Line Gold Mastercard because it allows them to transfer over a larger portion of their debt.

The CIBC Select Visa Card also lacks benefits, but it does include travel accident insurance – which is helpful for trip mishaps.

Additionally, this contender comes with a lower annual fee, one that’s waived during the first year of membership.

Thus, the CIBC Select Visa Card is a good alternative to the MBNA True Line Gold Mastercard if you want better low interest rates on purchases and cash advances, plus an extremely helpful 0% interest welcome bonus on balance transfers. Alternatively, the MBNA True Line Gold Mastercard has no welcome bonus to lower balance transfer rates,  but it has more insurance coverage, includes a couple of benefits, and – best of all – it allows you to transfer over more debt than the CIBC Select Visa Card.

MBNA True Line Gold Mastercard vs Scotiabank Value Visa Card

Also for a lower annual fee (one that’s waived in the first year of membership), the Scotiabank Value Visa Card offers higher interest rates on purchases, lower rates on cash advances, and the same balance transfer interest rate as the MBNA True Line Gold Mastercard.

To make the card even more enticing, it comes with a 0.99% introductory interest rate on balance transfers for the first 9 months of membership at a transfer fee of 2%.

For perks, you can only expect optional balance protection insurance and car rental discounts at Avis locations worldwide – with discount rates that are even better than the Avis discounts offered by the MBNA True Line Gold Mastercard.

Therefore, the Scotiabank Value Visa Card is another alternative to the MBNA True Line Gold Mastercard worth considering if you want better interest rates on cash advances and the opportunity to significantly cut your balance transfer interest costs during its 9-month promotional period. On the other hand, the MBNA True Line Gold Mastercard has better rates on purchase interest and more insurance and benefits.

Final Verdict

The MBNA True Line Gold Mastercard definitely has its perks, specifically its low interest rates on purchase interest, its basic insurance inclusions, and its helpful travel-oriented benefits. 

Still, there are cards like the CIBC Select Visa Card and the Scotiabank Value Visa Card that offer better interest rates on cash advances, plus better interest rates on balance transfers during added promotional periods. Just be cautious before committing, some alternatives have their own downsides, like the CIBC Select Visa Card that only allows cardholders to transfer 50% of the approved credit limit, minimizing how much debt can be managed.

For the best zero-interest balance transfer promotional period available and no annual fee, cardholders should turn to the MBNA True Line Mastercard instead – it’s rated as one of our top cards, after all.