Cash Back
No Annual Fee
MBNA Smart Cash Platinum Plus Mastercard
MBNA Canada
Current Welcome Offer
5% Cash Back on gas and groceries for the first 6 months
Annual Fee
$0
Purchase APR
21.99%
Cash Adv. APR
22.99%
Welcome Bonus
~$150
RateBuddy Verdict
The Good
- Offers a solid 2% cash back return on everyday essentials like gas and groceries without charging an annual fee.
- The welcome offer boosts your gas and grocery earning rate to an impressive 5% for the first six months.
- Includes essential shopping protections like Purchase Assurance and Extended Warranty.
The Trade-offs
- The 2% accelerated cash back rate is severely limited by a combined $500 monthly spending cap across both categories.
- Once the monthly cap is hit, or for all other purchases, the earn rate drops to a low 0.5%.
Rewards & Earnings
Groceries 2.00%
Dining & Takeout 0.50%
Gas & Transit 2.00%
Travel 0.50%
Base Rate 0.50%
Rewards Summary: 2% Cash Back on eligible gas and grocery purchases ($500 monthly spend cap); 0.5% Cash Back on all other eligible purchases.
- Gas: 2% Cash Back ($500 monthly cap combined with groceries)
- Groceries: 2% Cash Back ($500 monthly cap combined with gas)
- All Other Purchases: 0.5% Cash Back
Welcome Bonus Details
Earn 5% Cash Back on gas and groceries for the first 6 months (until the total gas and grocery purchases in the applicable month reaches $500).
Estimated Value: $150.00
Features & Benefits
No Annual Fee
No annual fee
Extended Warranty Insurance
Doubles manufacturer warranty up to 1 year
Purchase Security Insurance
Purchase Assurance for 90 days (Up to $60k lifetime)
Higher Earning on Business Categories
2% Cash Back on gas and groceries ($500/mo cap)
Additional Perks
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Insurance Coverage
Purchase Assurance
Covers most items for the first 90 days from the date of purchase (Lifetime accumulative limit of $60,000).
Extended Warranty Benefit
Doubles the written warranties for up to one additional year on most new purchases.
Mastercard Zero Liability
Protection against unauthorized purchases in store, over the telephone or online.
Rates & Fees Details
| Purchase APR | 21.99% |
|---|---|
| Cash Advance APR | 22.99% |
| Balance Transfer APR | 22.99% |
| Annual Fee | $0 |
| Supplementary Card | $0.00 |
| Income Required | No specific requirement listed. |