MBNA Rewards World Elite® Mastercard®

SimplyCash® Card from American Express

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MBNA Rewards World Elite® Mastercard® vs SimplyCash® Card from American Express

Which one is better? Both cards worked out on the same spending: rewards, welcome bonus, fees and perks, line by line.

3.9

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3.8

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Welcome bonus

Each offer as the issuer words it. The numbers below show whether your spending reaches it.

The offer

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. For residents of Quebec, please click here.

In your first 3 months as a new SimplyCash® Card from American Express Cardmember, you can earn a bonus 5% cash back on all purchases (up to $2,000 in purchases). That’s on top of your everyday cash back earn rates. That’s up to $100 in bonus cash back.

What each card is worth

Rewards, the welcome bonus and any Finly rebate in, the annual fee and FX fees out, all on your spending.

Worked out on a typical $2,000 a month of spending. Enter yours to see your own numbers.

$772

First-year value

$409

$472

Every year after

$309

MBNA Rewards World Elite is worth $363 more to you in year one.

It stays ahead after that, by $163 a year.

How the first year adds up

Annual rewards

$592.44

59,244 points a year

Welcome bonus

+ $300

first year only

Annual fee

− $120

First-year value

$772.44

1¢ a pointMBNA Rewards, redeemed for Travel

Annual rewards

$309.2

cash back a year

Welcome bonus

+ $100

first year only

Annual fee

− $0

no annual fee

First-year value

$409.2

Where each card earns

A year of your spending at each card's own reward rates, most first.

5xAll categories with 5x multipliers

44,076 pts

$440.76

1xAll other purchases

15,168 pts

$151.68

2%Groceries

$46.44

2%Gas

$39.74

1.25%All other purchases

$223.01

Fees, rates and eligibility

What each card costs to hold and to use abroad, and who it's for.

$120

Annual fee

$50

Additional cards

Interest rates

Purchase:

21.99%

Cash Advance:

22.99%

Balance Transfer:

22.99%

Purchase:

21.99%²

Cash Advance:

21.99%²

² If you have 2 separate missed Payments, the applicable rates for your account will be 25.99%. If you have 3 or more separate missed payments, the applicable rates will be 29.99%.

Recommended credit score

300

Poor

560

Fair

660⁎

Good

725⁎

Very Good

760⁎

Excellent

⁎Estimates based on Equifax scoring

300

Poor

693

Fair

743⁎

Good

790⁎

Very Good

833⁎

Excellent

⁎Estimates based on TransUnion scoring

Income required

Min Personal Income:

$80,000

Min Household Income:

$150,000

Min Personal Income:

N/A

Min Household Income:

N/A

How each card earns

The earn rates and caps, as each issuer sets them.

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.

2% cash back on eligible gas and grocery purchases in Canada (up to $300 cash back annually)
1.25% cash back on all other eligible purchases

Points and how we value them

Points become dollars at each card's best redemption. Here's the value we used, and every other way to spend them.

Loyalty program

MBNA Rewards

We count each point at 1¢ a point, what it's worth redeemed for Travel, its best value. Every dollar figure above uses that value.

Cash back: every dollar it earns counts as a dollar, so there's nothing to convert.

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

Nothing to redeem: it pays cash back.

Insurance and perks

What both cards include comes first in each list.

Insurance

Common Carrier Travel Accident Insurance

$1,000,000

Extended Warranty

1 year

Purchase Protection

90 days

Lost or Stolen Baggage

$1,000/person

Baggage Delay

$1,000/person

Car Rental Damage & Theft

31 days

Mobile Device Insurance

$1,000

Price Protection

$500/item, $1,000/account per year

Travel Medical Insurance (64 & under)

$2M for 21 days

Flight Delay

$500/person after 4 hours

Common Carrier Travel Accident Insurance

Up to $100,000

Extended Warranty

1 year

Purchase Protection

90 days or theft up to $1,000 per occurrence

Perks

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

Amex Experiences™

Access events and special offers curated for Cardmembers with Amex Experiences™

Our take

Why we like 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.

The SimplyCash® Card from American Express stands out for its no annual fee and strong cash-back earning potential, offering up to $100 in statement credits within the first 10 months. What makes it even more appealing are the unique perks, such as early access to concert tickets and extra layers of security for online shopping. These extra benefits, along with the affordability, make it a strong contender for those looking for a reliable cash-back card with no annual fee. It's an excellent choice for everyday spending while still enjoying exclusive Amex advantages.

Pros

High grocery optimization
High dining optimization
Annual birthday bonus
Solid travel insurance
Rare price protection
Good redemption values

No annual fee
Attractive cashback rates
Exclusive Amex perks
Instant decision. No credit impact.

Cons

Missing key insurance categories
Low gas optimization
Annual fee
High income requirements

Annual cashback cap
Limited insurance
Lower acceptance

More comparisons

Other cards we've put each of these up against.

Legal

*, ††, ‡, ✪, ***, ††††, Terms and Conditions apply.

This offer is not available for residents of Quebec. For residents of Quebec, please click here.

Standard Annual Interest Rates of 21.99% on eligible purchases, 22.99% on balance transfers✪, and 22.99% on cash advances

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.

*Terms and conditions apply.

If you have 2 separate missed Payments, the applicable rates for your account will be 25.99%. If you have 3 or more separate missed payments, the applicable rates will be 29.99%.

American Express is not responsible for maintaining or monitoring the accuracy of information on this website. If you apply and get approved for an American Express Card, (I/we) may receive compensation from American Express, which can be in the form of monetary payment.