No Annual Fee
Rewards
MBNA Rewards Platinum Plus Mastercard
MBNA Canada
Current Welcome Offer
Up to 10,000 Bonus Points ($50 cash value) + 4x earning rate for 90 days
Annual Fee
$0
Purchase APR
21.99%
Cash Adv. APR
22.99%
Welcome Bonus
~$50
RateBuddy Verdict
The Good
- Earning accelerated rewards on household utilities and digital media is a unique and highly valuable perk in the Canadian market.
- The inclusion of Mobile Device Insurance up to $1,000 is a rare and excellent benefit for a no-annual-fee card.
- The annual "Birthday Bonus" provides a 10% boost on all the points you earned over the previous year.
The Trade-offs
- Points are devalued when redeemed for cash back (0.5 cents/point) compared to travel redemptions (1 cent/point).
- The accelerated category earn rates are capped at $10,000 in annual spending per category.
Rewards & Earnings
Groceries 1.00%
Dining & Takeout 1.00%
Gas & Transit 0.50%
Travel 0.50%
Base Rate 0.50%
Rewards Summary: Earn 2 points per $1 on restaurant, grocery, digital media, membership, and household utility purchases ($10,000 cap per category); 1 point per $1 on all other purchases. Includes a 10% annual Birthday Bonus.
- Restaurants: 2 points per $1 (4 points for first 90 days)
- Groceries: 2 points per $1 (4 points for first 90 days)
- Digital Media: 2 points per $1 (4 points for first 90 days)
- Memberships: 2 points per $1 (4 points for first 90 days)
- Household Utilities: 2 points per $1 (4 points for first 90 days)
- All Other Purchases: 1 point per $1
Welcome Bonus Details
Earn 4 points per $1 on eligible categories for the first 90 days. Plus, get 5,000 bonus points after spending $500 in the first 90 days, and another 5,000 bonus points when you enroll in paperless e-statements within the first 90 days.
Estimated Value: $50.00
Features & Benefits
No Annual Fee
No annual fee
Mobile Device Insurance
Up to $1,000 in Mobile Device coverage
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
2x points on groceries, dining, and utilities (4x for first 90 days)
Additional Perks
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Insurance Coverage
Mobile Device Insurance
Up to $1,000 in coverage for eligible mobile devices against loss, theft, accidental damage, or mechanical breakdown.
Purchase Assurance
Coverage for the first 90 days against theft or damage (Lifetime total limit of $60,000).
Extended Warranty Benefits
Doubles the written manufacturer's warranties valid in Canada up to one additional year.
Mastercard Zero Liability
Protection against unauthorized purchases in-store, online, or by telephone.
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. |