MBNA Rewards credit cards are extremely popular rewards card in Canada especially for those interested in cash backs, rewards and frequent earnings on every purchase. $0 annual fee, redeem the accumulated reward points for cash back and earning points on every dollar spent on the card are some of the prime attractions of the MBNA Rewards MasterCard Credit Card. If you want to find out more, read on the extensive MBNA Rewards MasterCard Credit Card review herein to know if it matches your expectations.
Important Features of the MBNA Rewards MasterCard Credit Card
Reward Points
Earn 1 reward point for every dollar spent with the card. You will earn 1% cash back on all purchases with the card without any tiers or cap limitations. You do not have to wait until the year-end to redeem the points on your card.
Welcome Bonus
After making the first purchase with the card successfully, every new cardholder receives 5000 bonus points on the card equivalent to $50. You can transfer these points in form of cash back to your bank account or redeem them for future purchases.
Various Ways to Redeem Your Rewards Points
- Transfer your cash back earnings to the bank account
- Redeem your points for travel vouchers, gift cards, discount on merchandize shopping etc
- Make charitable donations
Car Rental Insurance
This credit card offers vehicle rental insurance on qualified models for collision damage benefits, accidental death etc.
Purchase Protection and Extended Warranty
The cardholders will have the privilege of theft and damage protection on all products purchased with the card for an extended period of 90 days from the date of purchase.
Applicable Rates and Charges
There is no annual fee to use the MBNA Rewards credit card. There is an interest free grace period of 21 days if the cardholder pays the entire balance amount on the credit card bill by the due date in the statement. There is a standard annual interest rate of 19.99% on purchases and 21.99% on access cheques/ balance transfers.
0% Cash Access for 6 Months
The cardholders will not be charged any interest on cash access for the initial six months period from the date of purchase of the card.
MBNA Rewards Card Benefits
- Get $50 welcome bonus after the first purchase available for direct transfer to your bank account or even use for travel expenses
- Unlimited cash back of 1% on all your purchases
- Multiple options to redeem the cash back points
- No need to wait until the end of the year to redeem your cash back earnings
- No annual fee
What I do not like about the MBNA Rewards Card
- There is no introductory annual interest rate on this card like many others
- The cardholder must be cautious to pay the credit card balance full every month or pay the annual interest rate at 19.99% on the purchases, which is higher compared to other cards
Is MBNA Rewards MasterCard Credit Card Right For You?
The MBNA Rewards MasterCard Credit Card is highly preferred over the other card- MBNA Rewards World Elite for the $0 annual fee. This card is also offers the extreme flexibility you can expect from any credit card in Canada. With MBNA rewards card in your wallet, forget the purchase caps and other limitations of the traditional credit cards. Do whatever you like with the reward points on the card. Do not wait until the end of the year to get your reward points and redeem them. Simply pay your bills on time every month and keep enjoying the cash back savings.
Considering these benefits, it is worth using the MBNA rewards card for your every day shopping needs.