Side by Side Credit Cards Comparison
Neo World Elite® Mastercard – Gas & GroceryVSMBNA Rewards World Elite® Mastercard®
Which one is better?
Neo World Elite® Mastercard – Gas & Grocery
4.6
RECOMMENDED CREDIT SCORE*
MBNA Rewards World Elite® Mastercard®
5.0
RECOMMENDED CREDIT SCORE*
Welcome Bonus
- $0 First-Year Annual Fee: $149 fee waived for year one.
- $100 Welcome Bonus: Earned after spending $1,500 in the first 3 months.
- This offer is only valid for the standard (unsecured) cards that are approved.
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. For residents of Quebec, please click here.
Our Cash Offer
$100 Cash Rebate offer from FinlyWealth
Our Cash Offer
$100 Cash Rebate offer from FinlyWealth
Rewards Breakdown
Rewards breakdown is not available for this card.
Rewards Breakdown
Rewards breakdown is not available for this card.
How to Earn Rewards
- 5% cash back on grocery purchases up to $1,000 spending per month
- 4% cash back on recurring purchases up to $500 spending per month
- 3% cash back on gas purchases up to $1,000 spending per month
- 1% cash back on all other purchases with no spending caps
- Up to 15% boosted cashback at thousands of partners across Canada - on top of base cashback rates
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.
Insurance Included
Lost or Stolen Baggage
$1,000
Baggage Delay
$1,000.svg)
Car Rental Damage & Theft
Yes
Extended Warranty
1 year
Purchase Protection
90 days
Travel Medical Insurance (64 & under)
Up to $1,000,000Flight Delay
$500
Car Rental Accident
$100,000 for cardholder, up to $10,000 per Spouse or Dependent Child
Hotel Burglary Insurance
$1,000.svg)
Car Rental Personal Effects
$1,000
Trip Cancellation
$1,000
Trip Interruption
$1,000
Mastercard Zero Liability Protection
Yes
Insurance Included
Lost or Stolen Baggage
$1,000/personBaggage Delay
$1,000/personCar Rental Damage & Theft
31 daysExtended Warranty
1 yearPurchase Protection
90 daysTravel Medical Insurance (64 & under)
$2M for 21 daysFlight Delay
$500/person after 4 hours
Common Carrier Travel Accident Insurance
$1,000,000
Mobile Device Insurance
$1,000
Price Protection
$500/item, $1,000/account per year
Extra Benefits
No Foreign Transaction Fees1
You can get all FX fees rebated up to $10K spending per month with a Neo Grow membership ($12.99/month cost or $0 with $20K across your Neo accounts)
Airport Lounge - Dragon Pass
Pass only - pay $32 USD per visit
World Mastercard Benefits
Including discounting with participating partners and DragonPass airport lounge access.
Extra Benefits
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).svg)
Concierge Services
Interest Rates
Purchase:
19.99% - 26.99%
Cash Advance:
22.99% - 28.99%
Balance Transfer:
22.99% - 31.99%
Interest Rates
Purchase:
21.99%
Cash Advance:
22.99%
Balance Transfer:
22.99%
Annual Fee
$149
$0$
$0 first year
Annual Fee
$120
Income Required
Min Personal Income:
$80,000
Min Household Income:
$150,000
Income Required
Min Personal Income:
$80,000
Min Household Income:
$150,000
Loyalty Program
N/A
Loyalty Program
Point Redemption Options
Not Applicable
Point Redemption Options
Most Optimal
Travel
1¢ / point
Gift Cards
0.98¢ / point
Statement Credits (Cash) - World Elite
0.82¢ / point
Merchandise
0.8¢ / pointStatement Credits (Cash) - Platinum
0.5¢ / point
Is this card worth it?
This card offers some of the highest cash back rates in Canada for gas, groceries, and recurring purchases, which is pretty hard to beat. While the cash back rates are very high, you need to mind the spend caps set for each category to see if your earning potential is really that high compared to most other credit cards. However, if you're the average person whose spending is generally below $12k per year in groceries, $6k per year in recurring bills and $12k per year in gas, then you'll be doing pretty well, especially with the great insurance and benefit offers.
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.
Pros
- High cashback rates
- Premium insurance coverage
- Airport lounge membership
- Boosted partner cashback
- Instant approval and access
Pros
- High grocery optimization
- High dining optimization
- Annual birthday bonus
- Solid travel insurance
- Rare price protection
- Good redemption values
Cons
- High income requirements
- Spending caps
- Annual fee
Cons
- Missing key insurance categories
- Low gas optimization
- Annual fee
- High income requirements
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Legal
1Foreign transaction fees are automatically rebated for Grow members and limited to the first CAD$10,000 in foreign spend each month. A 2.75% foreign transaction fee (2.5% on Neo Money™ cards) is applied at the time of purchase and automatically returned to your account once the transaction moves from pending to posted. Neo Money™ Card rebates are processed monthly, at the end of the month, and returned via your Neo Chequing or Neo Everyday account.
*, ††, ‡, ✪, ***, ††††, 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.