Neo World Elite® Mastercard – Gas & Grocery vs MBNA Rewards World Elite® Mastercard®
Which one is better? Both cards worked out on the same spending: rewards, welcome bonus, fees and perks, line by line.
Welcome bonus
Each offer as the issuer words it. The numbers below show whether your spending reaches it.
The offer
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.
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.
$625
First-year value
$772
$376
Every year after
$472
MBNA Rewards World Elite is worth $147 more to you in year one.
It stays ahead after that, by $96 a year.
How the first year adds up
Annual rewards
$525.48
cash back a year
Welcome bonus
+ $0
no welcome offer
Annual fee
$149− $0
$149 from year two
Finly rebate
paid by FinlyWealth
First-year value
$625.48
Annual rewards
$592.44
59,244 points a year
Welcome bonus
+ $300
first year only
Annual fee
− $120
First-year value
$772.44
Where each card earns
A year of your spending at each card's own reward rates, most first.
5%Groceries
$212.85
4%Recurring Transactions
$96
3%Gas
$64.8
1%All other purchases
$151.83
5xAll categories with 5x multipliers
44,076 pts
$440.76
1xAll other purchases
15,168 pts
$151.68
Fees, rates and eligibility
What each card costs to hold and to use abroad, and who it's for.
Annual fee
Additional cards
Interest rates
Interest rates
Purchase:
19.99% - 26.99%
Cash Advance:
22.99% - 28.99%
Balance Transfer:
22.99% - 31.99%
Purchase:
21.99%
Cash Advance:
22.99%
Balance Transfer:
22.99%
Recommended credit score
Recommended credit score
Income required
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.
- 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
- 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.
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
Loyalty program
Cash back: every dollar it earns counts as a dollar, so there's nothing to convert.
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.
Point redemption options
Point redemption options
Nothing to redeem: it pays cash back.
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
Insurance and perks
What both cards include comes first in each list.
Insurance
Insurance
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
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
Perks
Perks
Airport Lounge - Dragon Pass
Pass only - pay $32 USD per visit
World Mastercard Benefits
Including discounting with participating partners and DragonPass airport lounge access.
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
Our take
Why we like it
Why we like 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.
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
Pros
- High cashback rates
- Premium insurance coverage
- Airport lounge membership
- Boosted partner cashback
- Instant approval and access
- High grocery optimization
- High dining optimization
- Annual birthday bonus
- Solid travel insurance
- Rare price protection
- Good redemption values
Cons
Cons
- High income requirements
- Spending caps
- Annual fee
- Missing key insurance categories
- Low gas optimization
- Annual fee
- High income requirements
More comparisons
Other cards we've put each of these up against.
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vs Amex Cobalt
vs Amex Gold
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vs Amex Platinum
vs Amex SimplyCash
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vs PC World Elite Mastercard
vs RBC ION+ Visa
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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.
