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True Line® Gold Mastercard® credit card

True Line® Gold Mastercard® credit card

Standard Annual Interest Rates of 8.99% on purchases, 8.99% on balance transfers and access cheques, and 24.99% on cash advances

Our Rating:
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 8.99% 8.99% 24.99% Good -
  • Card Details Details
  • Our Review Review

Card Details


  • $39 annual fee

  • Standard Annual Interest Rates of 8.99% on purchases, 8.99% on balance transfersand access cheques, and 24.99% on cash advances

  • You could get a 0% promotional annual interest rate ("AIR") for 6 months on balance transfers completed within 90 days of account opening, with a fee of 3% of the amount advanced (minimum fee of $7.50).

  • A suite of comprehensive insurance**

  • Around-the-clock-fraud protection

  • Access to 24/7 customer service


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

RateSupermarket.ca's Review

If you need a credit card but struggle to pay off the full balance each month, the low interest rate offered by the MBNA True Line® Gold Mastercard® is worth considering. By reducing interest from the standard 19.99% to 8.99%, you're paying over 50% less in interest. This leaves you with more money to pay off the principal amount and get out of debt faster.

 

If you already have credit card debt on another card, take advantage of the 0% rate on balance transfers made in the first six months of cardmembership. You will have to pay a 1% fee on the amount being transferred, but in all likelihood, the money you save on interest will outweigh this expense.

 

This card does not have a rewards program, comes with a limited insurance package, and has a fee of $39/year, but this is a comparatively low price when considering the average credit card annual fee is around $100. For the opportunity to become debt-free, the $39 is an expense well spent.

 

Pros

  • The $39 annual fee is less than what most credit card companies charge.
  • Interest rates of 8.99% on purchases and balance transfers is significantly lower than the standard credit card interest rate of 19.99%.
  • Benefit from 0% interest on balance transfers for 6 months, giving extra time to pay off any lingering debt without accruing interest.
  • This card also comes with purchase protection insurance, around-the-clock-fraud protection, and access to 24/7 customer service should any issues arise.

Cons

  • While the $39 annual fee is comparatively low, there are other no-fee cards that may suit you better. For example, the True Line® Mastercard® has no annual charge, but the interest rate is 12.99% compared to 8.99% offered by its "Gold" counterpart. Depending on your spending habits and ability to pay off the balance each month, you can decide which makes the best financial sense to you.
  • No rewards offered with this card.
  • While the balance transfer rate is typically 8.99% (0% for the first six months), there is a 1% fee on the amount transferred. Considering the low interest rate offered by this card, it is still a very competitive deal, but you should take the fee into account when budgeting and transferring large amounts.
  • If your minimum payment is late twice within any 12-month period, interest rates increase significantly to 19.99% on purchases and 21.99% on balance transfers. Make sure you pay your minimum balance each month to avoid this penalty and to protect your credit score.

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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