MBNA Rewards MasterCard Review

MBNA Rewards MasterCard

(0 votes)
Apply Now

on MBNA’s secure website

MBNA Rewards MasterCard
8 / 10 Our Vote
{{ reviewsOverall }} / 10 Card Users's Vote (0 votes)
Pros
- Get 1 point per $1 you spend on eligible purchases
- Welcome bonus of 5000 rewards points
- No Annual Fee
Cons
- You must be a resident of Canada
- Bankruptcy record
Summary
The MBNA Rewards MasterCard is one of the rewards category credit card program offered by TD Bank. This card could benefit someone who does not want to pay an annual fee and still get some cash back on rewards points. If you use only this one card for all your purchases only then you may accumulate points faster. Those customers who wish to get a relief from interest rates for 6 months may use the balance transfer option at 0%. This may give them some time to arrange for funds to pay off some amount.
Leave your rating

Our Review on MBNA Rewards MasterCard

MBNA Rewards MasterCard Pros

The MBNA Rewards MasterCard has many advantages as follows.

  • No need to carry many cards as this is one card with multiple benefits.
  • You may earn rewards points and as you get 1 point per $1 you spend on eligible purchases, the points accumulate faster.
  • These reward points can be redeemed for merchandise, cash back, gift card, travel and as donations to charity. There is no limit on how many reward points or when you wish to redeem those points.
  • There is awelcome bonus of 5000 rewards points just after your 1st eligible purchase. This is as good as a $50 value when you redeem for cash back or travel.
  • You don’t pay an annual fee, unlike most other cards that give cash back rewards.
  • On balance transfers, you don’t pay any interest for the first six months. You pay a transfer fee of only 1% of the balance that you transfer. So, if you are looking to transfer a huge balance you carry on another card with high-interest rate then this is a great option.
  • The card also has certain benefits as an added bonus.

MBNA Rewards MasterCard Cons

  • In order to avail the 0% interest rate on balance transfers, you have only 90 days from the time you open the account. Any balance transfers done after 90 days will be charged standard 21.99% interest rates.
  • The travel benefits can only be for assistance purpose and you have no coverage for any lost items during travel.
  • There is not a lot of variety in options on the rewards catalog if you wanted to redeem your points.
  • Unless you use only this card for all your purchases you may not gather as many points.

MBNA Rewards MasterCard Overview

Annual Fee:$0.00
Interest Rate:19.99%
Balance Transfer:0.00%
*21.99% after 6 months
Cash Advance:24.99%
Credit Score:Good
Rewards:1.00%
*maximum
Welcome Bonus: 5000 rewards points after 1st eligible purchase
Cash Back Earn Rate:  $0.01
Other:Purchase protection and extended warranty
Rental vehicle insurance

MBNA Rewards MasterCard Features & Benefits in Detail

Annual Fee

The MBNA Rewards MasterCard has no annual fee.

Interest Rate

They charge 19.99% interest rate per annum on purchases.

Balance Transfer

You may transfer balances from up to 3 creditors to this card. There is no interest charge for the first 6 months. After your balance transfer request is approved they pay off your creditors in the order you listed them in priority. The balance transfer fee is only 1% and they process your request in two weeks. Thereafter, they may charge you 21.99% on your remaining balance amount.

Cash Advances

They charge an interest fee of 24.99% on any cash advances that you take on the card.  You may obtain a cash advance by using your card at a bank, ATM or other location. If you need to request for a PIN then you may call 1888 876 6262.

Credit Score Rating

It is necessary that you have a good credit rating to apply for this card.

Rewards Points

You may earn 1 reward point for every eligible $1 you spend in purchases.

Welcome Bonus

In fact, they also give 5000 welcome bonus points that you pay get after your 1st eligible purchase.

Cash Back Earn Rate

When you crunch the numbers the value of 1 MBNA reward point is equal to $0.01.

Card Benefits

The card offers some benefits too. These include waiver benefits for collision damage on your rental vehicle, assurance for eligible items that you purchase with the card for up to 90 days from the purchase date. You may be eligible for double warranties that may extend to another year when you use the card for eligible purchases. Benefits while traveling such as legal and lost luggage assistance, ticket replacement and lost document etc.

MBNA Rewards MasterCard Cash Back Calculator

Spending CategoryMonthly Spending
Total Spending Reward$240
Groceries$400
Gas$300
Restaurants$200
Bills$500
Travel$150
Entertainment$200
Pharmacy$0
Everything Else$250

How do I Pay for MBNA Rewards MasterCard

There are 3 ways that you could make a payment on your MBNA Rewards MasterCard as follows.

  • Mail: You may mail a money order or cheque payment to P.O. Box 4369, Station A, Toronto, ON M5W 3P2 and write your account number. They process payments on weekdays on a daily basis that are credited when they receive your payment. When you mail your payment then they receive and post your payment to your account in up to 10 days.
  • Pre-Authorized Instruction: It may be convenient to pre-authorize a debit instruction and mail the completed form to P.O. Box 9625, Station T, Ottawa, ON K1G 9Z9. You may also fax this completed form to 1800 871 0994.
  • Western Union Payment: Using the code city TMBNA you may pay through the Western Union.

Where Can You Use MBNA Rewards MasterCard

You may use your MBNA Rewards MasterCard at any point of sale that accepts master card payments. If you wish to use your card to withdraw cash then you may search for your nearest location for ATM using the web link ATM locator service.

MBNA Rewards MasterCard Reward Redemption

If you wish to redeem your MBNA rewards points then you may call 1877 877 3703. You may also login to the website for online banking and select the ‘Rewards’ option. To redeem your points for rewards you may also search the items listed in the catalogue.

MBNA Rewards MasterCard Contact Information

  • Customer Service Number: 1888 876 6262
  • Card Application: 1877 862 7759 or 1877 428 6060.
  • Redemption of Points: 1877 877 3703
  • Fax Number: 1800 871 0994
  • Payment Mailing Address: P.O. Box 4369, Station A, Toronto, ON M5W 3P2.
  • Pre-Authorized Debit Mailing Address: O. Box 9625, Station T, Ottawa, ON K1G 9Z9
  • Head Office Address: P.O. Box 9625, Station T, Ottawa, ON K1G 9Z9

*Rate and product information are subject to change at any time and does not constitute financial advice. Please contact the supplier for complete details.

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


Resources:

https://www.mbna.ca/about-mbna/company-profile/mbna/index.jsp

https://www.mbna.ca/credit-cards/view-all-cards/

https://www.mbna.ca/help-centre/credit-cards/balance-transfers/

https://www.mbna.ca/contact-us/cards/


What card users say... Leave your rating
Order by:

Be the first to leave a review.

Verified
{{{ review.rating_title }}}
{{{review.rating_comment | nl2br}}}

Show more
{{ pageNumber+1 }}