MBNA Rewards MasterCard Review

Posted March 13, 2017 by CCC Staff in

MBNA Rewards MasterCard Review

Credit card issuers are constantly trying to push the envelope when it comes to super premium credit card offerings. But for many credit card users, high-annual fee cards are just not a good fit – even with all their perks.

MBNA has hit a sweet spot with the Rewards MasterCard. First off, there is no annual fee, making it great for cost conscious consumers. On top of that, there’s a generous sign up bonus. To take advantage, simply activate the card and make a purchase to earn 5,000 points. There’s also a very flexible rewards program. Choose from cash back, gift cards, merchandise, travel, or even charitable donations. You’ll earn rewards on a $1 spent / 1 point earned basis (1%), which is pretty standard on reward cards.

MBNA Rewards Mastercard® credit card
MBNA Rewards Mastercard
Apply Now
  • Get MBNA Rewards for your purchases and redeem them for your passions, including travel, merchandise, or even cash back.
  • Earn 1 MBNA Rewards point‡ for every $1 in eligible purchases
  • Receive 5,000 bonus MBNA Rewards points after your first eligible purchase††. That's equivalent to $50 when redeemed for cash back or travel
  • Full credit card details
Annual Fee:
Balance Transfer:
Cash Advance:

Rewards Catalogue

Rewards credit cards are only as good as the available redemption options. That’s one reason why we love the MBNA Rewards cards. Choose from an extensive selection of merchandise and gift cards from a wide variety of retailers. The selection is constantly updated so there’s always something fresh to shop for. Here’s a link to the catalogue: https://www.rewardscatalogue.com/Merch/MBNA/Home.aspx

Don’t like what you see? You can always redeem your points for gift cards from your favourite retailers. One major complaint with other rewards programs is a stale selection of redemption options, but MBNA does an excellent job of keeping the rewards updated and fresh. If you’re a big spender, you might earn enough points to redeem for a brand-new shiny iPhone (a lot better than dropping $600 or $700 at the Apple Store).

Other Benefits

If you’re carrying a balance at a high interest rate on another credit card in your wallet, be sure to take advantage of the 0 percent offer on balance transfers for the first 6 months on this card. Balance transfers are ideal if you’re trying to reduce debt. It can help accelerate the pace you pay down debt. By having a lower interest rate, you can make larger payments towards your outstanding balance, saving on interest and being debt-free sooner.

Here are some of the sweet perks offered by this card. While many of these are pretty standard, nevertheless they’re nice to have.

  • Rental Vehicle Collision Damage Waiver Benefits – Perfect if you’re involved in a fender bender while travelling.
  • Purchase Assurance – Covers eligible items purchased with your MBNA credit card for the first 90 days from the date of purchase.
  • Extended Warranty Benefits – The manufacturer warrantee is automatically doubled on any eligible purchases you make with your MBNA credit card for up to one additional year.
  • Travel Benefits – Lost Document and Ticket Replacement, Lost Luggage Assistance, Legal Assistance.

Looking for More?

If you’re a big spender, you might consider upgrading to the fee version. There are actually 2 versions of the MBNA Rewards MasterCard. The no-fee version, and the World Elite version that comes with an $89 annual fee. By upgrading to this version you’ll get 10,000 bonus points with your first purchase. But more importantly you’ll earn 2 points for every dollar spent, instead of just 1. To qualify for the World Elite version your personal annual income must be greater than $70,000, or your household annual income must be $120,000 or greater. Do the math ahead of time to make sure you’ll spend enough to make it worth your while to pay the annual fee.

Bottom Line

The MBNA Rewards MasterCard is a nice option for those seeking a no-annual-fee rewards card with flexible point redemption options. While the rewards earning rate is a very standard net 1%, the tradeoff is not paying an annual fee. A rewards card is only as good as its redemption options. The flexibility in rewards is a nice perk and makes this a card worth serious consideration. If you’re looking for a plain vanilla rewards credit card, you’ll be hard pressed to find a better card than this one.

ADVERTISING DISCLOSURE: CreditCardsCanada.ca has business relationships with some credit card issuers featured on this site. We may receive compensation from these issuers when consumers apply for and/or are approved for a credit card through links on this website. For example, when a visitor clicks on an “Apply Now” button, we may be compensated if that visitor is approved for a card. Read More