MBNA Rewards World Elite® Mastercard®

BMO CashBack® World Elite®* Mastercard®*

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MBNA Rewards World Elite® Mastercard® vs BMO CashBack® World Elite®* Mastercard®*

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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Finly rebate

$120

4.1

Apply now Get $120 Finly rebate

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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.

Get up to $650 in value and the annual fees waived in the first year. Plus, get a 0% introductory interest rate on Balance transfers for 12 months with a 2% transfer fee.*

$650 in value is made up of:

Up to $480 Welcome Offer Cash Back: Receive $40 Bonus Cash Back when you spend a minimum of $2,000 on net card purchases per billing cycle in the first twelve (12) billing cycles after the account open date.*
$139: Annual Fee Waiver: The primary cardholder annual fee of $139 will be rebated in the first year and will appear as a fee and a credit on the primary cardholder’s first statement.*
$75 market value: Roadside Assistance: You will receive a complimentary membership in the Dominion Automobile Association (DAA) and the benefits of their BMO Roadside Assistance Program (Basic Coverage). Membership terms and plan features are described here: bmo.com/roadsideassistancebasic.*

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

$1,125

$472

Every year after

$386

BMO CashBack World Elite is worth $353 more to you in year one.

From year two, MBNA Rewards World Elite pulls ahead by $86 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

$525.28

cash back a year

Welcome bonus

+ $480

first year only

Annual fee

$139− $0

$139 from year two

Finly rebate

+ $120

paid by FinlyWealth

First-year value

$1,125.28

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

5%Groceries

$212.85

3%Gas

$64.8

2%Recurring Transactions

$48

4%Rental Car & Taxi, Public Transportation

$38.4

1%All other purchases

$142.23

Fees, rates and eligibility

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

$120

Annual fee

$139

$0 the first year

$50

Additional cards

$50

Interest rates

Purchase:

21.99%

Cash Advance:

22.99%

Balance Transfer:

22.99%

Purchase:

21.99%

Cash Advance:

23.99%

Balance Transfer:

23.99%

Recommended credit score

300

Poor

560

Fair

660⁎

Good

725⁎

Very Good

760⁎

Excellent

⁎Estimates based on Equifax scoring

300

Poor

560

Fair

660⁎

Good

725⁎

Very Good

760⁎

Excellent

⁎Estimates based on Equifax scoring

Income required

Min Personal Income:

$80,000

Min Household Income:

$150,000

Min Personal Income:

$80,000

Min Household Income:

$150,000

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.

5% cash back on groceries (capped at $500 spending per statement, maximum of $25 in cashback per statement cycle)*
4% cash back on daily transit (capped at $300 spending per statement, maximum of $12 in cashback per statement cycle)*
3% cash back on gas (capped at $300 spending per statement, maximum of $9 in cashback per statement cycle)*
2% cash back on recurring payments (capped at $500 spending per statement, maximum of $10 in cashback per statement cycle)*
1% 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

Lost or Stolen Baggage

$1,000/person

Baggage Delay

$1,000/person

Car Rental Damage & Theft

31 days

Common Carrier Travel Accident Insurance

$1,000,000

Extended Warranty

1 year

Purchase Protection

90 days

Travel Medical Insurance (64 & under)

$2M for 21 days

Flight Delay

$500/person after 4 hours

Mobile Device Insurance

$1,000

Price Protection

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

Lost or Stolen Baggage

$500/person, $1,000 maximum*

Baggage Delay

$500/person, $1,000 maximum After 6 hours*

Car Rental Damage & Theft

$65K MSRP up to 48 days*

Common Carrier Travel Accident Insurance

$500,000

Extended Warranty

1 year

Purchase Protection

90 days

Travel Medical Insurance (64 & under)

$5M up to 8 days per covered person*

Flight Delay

$500 After 4 hours delay*

Hotel Burglary Insurance

$1,000

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

Car Rental Discount

Save up to 20% on National Car Rental® and Alamo Rent A Car® and up to 5% on Enterprise Rent-A-Car® at locations worldwide using the Car Rental Booking tool.*

Airport Lounge - Dragon Pass

Complimentary membership in Mastercard Travel Pass provided by DragonPass. As a member enjoy lounge access for a fee of just US$32 per person, per visit.*

Roadside Assistance

Complimentary Roadside Assistance Program*; Including battery boosts, flat-tire change, lockout service and towing – a $75/year value.*

Discount

Enjoy six months of Instacart+ and a $10 monthly Instacart credit when you enroll your eligible BMO Credit Card.*

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.

If you're seeking a cashback credit card, the BMO CashBack® World Elite® Mastercard® stands out for its excellent balance between rewards and benefits. It offers a robust rewards program and a comprehensive benefits list, making it a solid choice. The high first-year value is enhanced by the annual fee waiver, and those with a BMO Premium Chequing Account can enjoy continued fee waivers. While it's highly ranked for rewards alone, it may not be the absolute top choice if benefits are less important to you.

Pros

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

Impressive cashback rates
Rare roadside assistance
Comprehensive insurance and benefits
High first-year value

Cons

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

Lacks restaurant optimization
Low monthly cashback caps

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

BMO is not responsible for maintaining the content on this site. Please click on the Apply now link for the most up to date information.