MBNA Rewards World Elite MasterCard Review

MBNA Rewards World Elite MasterCard

MBNA Rewards World Elite

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MBNA Rewards World Elite MasterCard
7.9 / 10 Our Vote
{{ reviewsOverall }} / 10 Card Users's Vote (0 votes)
Pros
$0.02 cash back for travel per each dollar
2 points for each $1
10000 bonus points
Cons
$89 annual fee
High income level
Summary

There are many credit cards with reward programs on the market. Some have low rates and promotions while others have great redemption offers. So, to work out the numbers and decide on the best one for you may seem a mammoth task.  The World Elite MasterCard by MBNA is cash back category rewards card and seems to have many benefits rolled into one. You are able to earn 2 points per each dollar you spend. These points never expire and there is no limit on how many points you may earn. When you spend $10000 you get 20000 points and that is equal to $200. That is not a bad deal when you use this card as your primary card for most purchases. It only gets better as you may use your points to pay for merchandise, travel, cash back, charity or gift cards.

This card has very flexible redemption offers and 2% flat rate on all purchases is surely higher than most competitors. So, why not get that flight ticket at a price that beats the rest and just redeem your points rather than pay for your trip? Now you may think that this card comes with an annual fee of $89 and there are cards in the market with no fee at all. But sometimes when you run through all the shopping numbers then your rewards may as well justify the annual fee.

It only gets better with a welcome bonus they give for 10000 points that are equal to $100 just for trying. In fact, this even offsets the first year annual fee of $89. No tiers and categories to remember while you shop and collect points. So you might as well try out for the first year and check out if this card works for you. And earn you rewards as per your expectations.

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Our Review on MBNA Rewards World Elite MasterCard

MBNA Rewards World Elite MasterCard Overview

Annual Fee$0
Interest Rate (APR)19.99% on purchases
Balance Transfer22.99%
Cash Advance22.99%
Foreign Currency Conversion Fee2.5%
Credit ScoreGood
Otheronly optional insurance

MBNA Rewards World Elite MasterCard Pros

As an MBNA card member, you do enjoy several perks that come with their World Elite MasterCard.

  • This card helps to earn $0.02 cash back for travel per each dollar you spend. So, when you spend $5000 that will give you $100 as cashback. If you are planning to travel you may get the price match option with MBNA travel center or use your preferred travel agent. Now when you use the 1st option then MBNA does a price match for you with WestJet and AirCanada and help you with a good deal. All you need to do is redeem your points to pay for that flight. In case you are not happy with the pricing offer then you may check out your travel agents such as Expedia or Travelocity etc. and may still get a credit for your points on your statement.
  • No tiers to remember and you may collect 2 points for each $1 you spend on eligible purchases.
  • They welcome you with 10000 bonus points that are equal to $100 that you may redeem for either travel or cash back.
  • This card does have some travel insurance features. The price protection feature is something that not many competitors offer.
  • The points that you earn do not expire and there is no limit.

MBNA Rewards World Elite MasterCard Cons

The MBNA Rewards World Elite MasterCard has very few drawbacks as follows.

  • Since there are other cards in the market with no annual fee, you may not favor the $89 annual fee for this card. But if you put all the eligible purchases as a primary card then you may recover this fee within a few months.
  • The income level to qualify for this card is either a minimum individual $70000 or a household income at $120000 which quite high.
  • There are competitors with better travel insurance programs for a rewards card.
  • As of now, there are no promotions for balance transfer.

MBNA Rewards World Elite MasterCard Features & Benefits

Some of the main features of the MBNA Rewards World Elite MasterCard are as follows.

Annual Fee

The annual fee for the primary card is $89 but there is no annual fee for the additional cards.

Interest Rate

They charge an annual rate of interest on purchases or APR 19.99%

Balance Transfer

The balance transfer rate of interest is 21.99%.

Cash Advance

They charge 24.99% annual interest rate for cash advances.

Foreign Conversion Fees

They will convert any payments or transactions that you conduct in a foreign currency to equivalent Canadian dollars. This will be based on a benchmark rate set on the day they process your transaction and there will be a fee of 2.5%. This fee is 2.5% of the amount after it is converted to Canadian dollars. The benchmark rate is set by the Bank of Canada.

Credit Score Rating

You may need to have an excellent credit rating to qualify for this card.

Additional Cards

They don’t charge fees for additional cards and you may have more people use the card and get more rewards.

Rewards

You may earn 2 points for each dollar you spend on eligible purchases.

MBNA Rewards World Elite MasterCard Cash Back Calculator

Spending CategoryMonthly Spending
Total Spending Reward$480
Groceries$400
Gas$300
Restaurants$200
Bills$500
Travel$150
Entertainment$200
Pharmacy$0
Everything Else$250

Insurance Features Of MBNA Rewards World Elite MasterCard

You may get some price protection for up to 60 days. And purchase assurance for up to 90 days from the time you purchase the product with this card. This card also has coverage for ticket replacement, lost document and luggage assistance, legal assistance and extended warranty.

Where Can You Use MBNA Rewards World Elite MasterCard

This card can be used at all locations and online merchants that accept MasterCard.

MBNA Rewards World Elite MasterCard Reward Redemption

It is very flexible to redeem points as you may choose either travel or cash back options. There is no expiry date for the points and no limit on how many points you may earn. You may ask for the cash back in the form of a statement credit, check or a direct deposit into your account.

MBNA Rewards World Elite MasterCard Contact Information

  • Customer Service Number: 1877 428 6060 (priority code is DAAU81)

*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://rewards.mbna.ca/worldelite?src=DAAU81


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