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MBNA Rewards World Elite Mastercard review

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MBNA Rewards World Elite Mastercard
Welcome Offer
30,000 points
Rewards
Up to 5 points per $1 spent
Annual Fee
$120
Purchase Interest Rate
19.99%
Cash Advance Rate
24.99%
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Summary

Get a generous welcome bonus and earn flexible rewards when you sign up for this premium travel card.

Whether you're a frequent flyer or planning your first trip overseas, the MBNA Rewards World Elite Mastercard will give you a high return on travel points for an annual fee.

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The MBNA Rewards World Elite Mastercard is a premium credit card that offers a high return on MBNA Rewards Points. Earn 5 points for every $1 spent on eligible restaurant, grocery, digital media, membership, and household utility purchases until $50,000 is spent annually in the applicable category. 1 point for every $1 on all other eligible purchases. Plus, get a generous welcome bonus when you sign up. This card also comes with car rental insurance and a limited number of travel benefits

30-second take

  • Think about this card if you want flexible rewards and a welcome bonus.
  • Choose something else if you’re looking for low interest or you don’t want to pay an annual fee.
  • You’ll need to have an individual income of $80,000 or a household income of $150,000 to apply for this credit card.

The basics

Whether you’re a frequent flyer or planning your first trip overseas, the MBNA Rewards World Elite Mastercard will give you a high return on travel points for an annual fee.

  • High earn rate. Earn 5 points for every $1 spent on eligible restaurant, grocery, digital media, membership, and household utility purchases until $50,000 is spent annually in the applicable category. 1 point for every $1 on all other eligible purchases.
  • Welcome offer. Get up to 30,000 MBNA Rewards Points. Conditions apply.
  • Purchase assurance. Protect the purchases you make on your card against loss and damage with 90 days
    purchase assurance.
  • Extended warranty coverage. Double your manufacturer’s warranty (up to one year) on items you buy with your card
  • Flexible rewards. Redeem your points for all kinds of rewards like travel, cashback, merchandise, gift cards, charitable donations and more.
  • Decent return on travel rewards. The redemption value for travel is 100 points per $1, while cash and charity donations are 120 points per $1.
  • Free additional cards. Order up to 9 additional cards at no extra fee.

The perks

  • Car rental insurance. Get covered for collision and damage when you rent a car using your card.
  • Concierge services. Work with personalized Concierge services to book travel and find out about the latest deals on dining, events, entertainment and more.
  • Price protection. Get a partial refund if you purchase an item and then find the same item advertised at a lower price (up to $500 within 60 days of purchase)
  • Zero Liability insurance. Avoid paying for fraudulent purchases on your account with Zero Liability insurance.
  • Enhanced security. Purchases are protected by security features like PIN-protected microchips and online fraud prevention mechanisms.
  • Trip assistance. Contact the on-call customer support team to get assistance with any travel-related issues or concerns you might have.

What to watch out for

  • Annual fee. It costs $120 per year to maintain this card.
  • High interest. You’ll pay 19.99% interest on purchases and 24.99% on cash advances.
  • High minimum income. You’ll need to make at least $80,000 per year to qualify (or $150,000 in household income).
  • Few benefits. There are relatively few benefits on offer for the high fee you pay, though you get a decent return on points to compensate.
  • Different points values. Points are worth different dollar amounts depending on the category of the reward (with travel giving the best value).

MBNA Rewards World Elite Mastercard interest rates

Interest TypeInterest Rate
Purchase interest rate19.99%
Cash advance rate24.99%
Standard balance transfer rate22.99%

What should I know before I apply

How to apply

  1. Head to the MBNA website to begin your application.
  2. Complete the application, which includes providing your name, email address, social insurance number and birth date.
  3. Review and submit your application.

Bottom line

MBNA Rewards World Elite Mastercard gives you a high return on travel rewards for every dollar you spend on your card. You’ll also get a welcome offer and basic insurance when you sign up, along with a handful of travel perks. The downside is that you won’t get comprehensive benefits or a low interest rate on purchases.

Compare other credit cards

Name Product Welcome Offer Rewards Purchase Interest Rate Annual Fee Min. Credit Score Description
RBC ION Visa
3,500 points
1.5 points per $1 spent
20.99%
$0
Min. recommended credit score: 660
Get 3,500 Avion points when you get approved for the card.
Neo Credit Mastercard
Get $25.00 + up to 15% cash back
Up to 5% cash back
19.99% - 29.99%
$0
Min. recommended credit score: 600
Get $25 when you sign up for the Neo Financial Mastercard. Plus, earn bonuses like 15% cashback on your first purchase at most partners, and earn an average of 5% cashback at partner stores and at least 1% cashback guaranteed.
Tangerine World Mastercard
10% cash back
Up to 2% cash back
19.95%
$0
Min. recommended credit score: 600
Earn 10% cash back (up to $100) when you spend $1,000 in the first 2 months. Valid until April 30, 2024. Plus, get a 1.95% interest rate on balance transfers for the first 6 months.
American Express Cobalt Card
15,000 points
Up to 5x points per $1 spent
20.99%
$155.88
Min. recommended credit score: 700
Earn up to 15,000 Membership Rewards points in your first year. Earn 1,250 Membership Rewards points for each monthly billing period in which you spend $750 in purchases. That’s up to $150 towards a weekend getaway or concert tickets.
BMO CashBack Mastercard
5% cash back
Up to 3% cash back
20.99%
$0
Min. recommended credit score: 660
Get 5% cash back on all eligible purchases in the first three months of card membership (up to max. spend of $2,500). Plus, get a rate of 0.99% on balance transfers for 9 months. A 2% fee applies to transferred balances.
Tangerine Money-Back Credit Card
10% cash back
Up to 2% cash back
19.95%
$0
Min. recommended credit score: 600
Earn 10% cash back (up to $100) when you spend $1,000 in the first 2 months. Valid until April 30, 2024. Plus, get a 1.95% interest rate on balance transfers for the first 6 months.
RBC Cash Back Mastercard
N/A
Up to 2% cash back
20.99%
$0
Min. recommended credit score: 650
RBC ION+ Visa
7,000 points
3 points per $1 spent
20.99%
$48
Min. recommended credit score: 660
Get up to 7,000 welcome points. Get 3,500 points on approval and earn 3,500 bonus points when you spend $500 in your first 3 months.
BMO eclipse rise Visa Card
25,000
Up to 5 points per $2 spent
20.99%
$0
Min. recommended credit score: 660
Earn up to 25,000 bonus points.
BMO Preferred Rate Mastercard
0.99% rate on balance transfers for 9 months
N/A
13.99%
$0 annual fee for the first year ($29 thereafter)
Min. recommended credit score: 660
Get a rate of 0.99% on balance transfers for 9 months with a 2% transfer fee. Plus, get the $29 annual fee waived in the first year.
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