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MBNA Smart Cash® World Mastercard®

MBNA Smart Cash® World Mastercard®

Get 5% Cash Back††on eligible gas and grocery purchases for the first 6 months (until the total gas and grocery purchases in the applicable month reaches $500)

Annual Fee Interest Rate Balance Transfer Cash Advance Credit Score Good: -- I've had a credit card, or loan for 6+ years. I've had good credit for the last 7 years (no bankruptcies or no defaults on credit as a result of failing to pay debts back to creditors). I haven't opened a new credit card account, loan, or line of credit in the last nine months. I've made the minimum payments on my existing credit cards for the past three months. Rewards Are all rewards created equal? From points, to miles, to cash back – how do you know how much you’re really getting? To help you find the best rewards card, we’ve created the Your Reward Return, an estimate on the dollar value of your rewards based on your monthly spend so that you can compare like for like. Now that’s wise thinking!
$39.00 19.99% 22.99% 24.99% Good 5.00% *maximum
  • Card Details Details
  • Our Review Review

Card Details

Accelerate cash back on common purchases!



  • Get 5% Cash Back†† on eligible gas and grocery purchases for the first 6 months (until the total gas and grocery purchases in the applicable month reaches $500)

  • Get 2% Cash Back on eligible gas and grocery purchases thereafter (until the total gas and grocery purchases in the applicable month reaches $500)

  • Get 1% Cash Back for all other eligible purchases

  • $39 annual fee

  • Standard Annual Interest Rates of 19.99% on eligible purchases, 22.99% on balance transfers✪ and access cheques, and 24.99% on cash advances

  • A suite of comprehensive insurance**

  • Your personal annual income must be greater than $60,000, or your household annual income must be $100,000 or greater††††


Take advantage of a card that provides Cash Back on eligible purchases. Apply now for the Smart Cash® World credit card.


This offer is not available for residents of Quebec. For residents of Quebec, please click here.


 

Features and Benefits

  • Purchase protection and extended warranty
  • Rental vehicle insurance

RateSupermarket.ca's Review

The MBNA Smart Cash® World Mastercard® boasts an impressive 5% cash-back for the first 6 months of card membership. While this is capped at $500 in eligible purchases in each applicable month, it is still a nice bonus, made all the more impressive when you consider the low annual fee of $39.

After 6 months of card use, the cash-back rate drops to 2%, still on par or better than similarly priced cash-back cards. Once you hit the monthly $500 limit of eligible purchases, the rate drops again to 1% for all other purchases made that month. While this may not sound like much, you can earn cash-back on a wide array of purchasing options and there is no limit to the total amount you can earn.

Consider the added advantages of holding an MBNA Mastercard® like purchase protection and extended warranty, and you have yourself a well-rounded, low-fee card with flexible purchasing options. If you are motivated by cash-back incentives, but don't want pay a high annual fee or change your current spending habits, this card has you covered.

Earning Potential: $425.51 in cash-back rewards

So how does this card stack up to other cash-back options? We crunched the numbers using our Best of Finance methodology to see how much you could earn over a 24-month period.

Assuming $1,222.96 is spent on the card monthly, at eligible retailers in the following categories*:

Pharmacy Food Gas
$ 55.33 $ 758.53 $ 155.72**
Travel Other Monthly Total
$ 151.21 $ 102.17 $ 1,222.96


Cash-back earned over a 24-month period:
$503.51.
Total (subtracting annual fee): $425.51.


*Source: Statistics Canada
**Based on $1.00/litre gas prices


Over $400 back after 2 years of average spending shows this to be a competitive rewards program. Perhaps you'll use the money to pay off bills or splurge on a weekend away. The reward is yours to spend as you please!

Pros

  • A low annual fee of $39 per year.
  • For the first 6 months of card membership, enjoy 5% cash-back on gas and groceries (until the total gas and grocery purchases reaches $500 for the month).
  • After 6 months, earn 2% cash-back on eligible gas and groceries, until the total gas and grocery purchases reaches $500 for the month, at which point you will continue to earn 1% cash-back for all other eligible purchases for the remainder of the month, with no limit on the total cash back you can earn.
  • All cardholders benefit from purchase protection, covering your items for the first 90 days from the date of purchase (while you are unlikely to reach it, there is a total accumulative limit of $60,000 per account).
  • The extended warranty provided by this card increases standard warranties for up to one additional year on eligible purchases.
  • Includes complimentary rental vehicle insurance.
  • Includes an emergency helpline that is available 24 hours a day. Services include emergency card replacement.
  • Do you like to travel? Additional features of this card include pre-trip information, legal assistance, lost luggage assistance, ticket replacement, and more.

Cons

  • Although the 6-month promotional offer of 5% cash-back is very good, it's only available on your first $500 spend in each applicable month. The standard rate is only 1% thereafter. You can't earn a fortune at one percent, but considering the low annual fee, it is still a great card.
  • To be eligible for this card your personal annual income must be greater than $60,000 or your household annual income must be at least $100,000.

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

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