Credit Cards

Amazon Mastercard by MBNA

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  • Aug 21st, 2019 2:17 pm
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Aug 29, 2012
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I would never use this card for anything on Amazon because as titaniumtux said, you can just buy a ton of gift cards with the Amex Cobalt, or you can buy Amazon gift cards at discount with PayTM. And even for items for which you would want extended warranty protection, I would never, ever, EVER trust MBNA to provide me with any service that is not a total pain in the ass.

MBNA crippled all their reward cards to humiliating levels, AND raised their interest rates to 20.99%. They prey on vulnerable, desperate people. They should not be encouraged
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Poutinesauce wrote:
Jun 4th, 2019 12:05 am
They prey on vulnerable, desperate people. They should not be encouraged
But then, some may say, isn't it our responsibility to do our best to take away or at least dilute their profit? How much can they really be making on a transaction if you only buy Amazon.ca products?
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CouponBaron wrote:
Jun 4th, 2019 10:57 am
But then, some may say, isn't it our responsibility to do our best to take away or at least dilute their profit? How much can they really be making on a transaction if you only buy Amazon.ca products?
While I neither work for TD/MBNA nor Amazon, since it's a co-branded card, if it works anything like FFP's, that means TD pays Amazon to offer the co-branded card. Upon launch, TD is at a loss. TD collects merch fees. They award Amazon $$ (that they buy in bulk or via their agreement with Amazon.ca).

Amazon.ca can bite the discounts that buyers benefit from via rewards redemptions because TD fronted that cost. To what extent each partner profits from the partnership is a secret that we consumers will probably never know. But it doesn't matter...by using the card, you're neither putting either party at a loss...if anything you're rewarding them. Buy a gadget on Amazon? Kiss that extended warranty goodbye. You'd have cashed out more on buying gift cards at the grocery till if you're skipping extended warranty, where the issuer of your G&G card bites the loss.
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titaniumtux wrote:
Jun 4th, 2019 2:15 pm
While I neither work for TD/MBNA nor Amazon, since it's a co-branded card, if it works anything like FFP's, that means TD pays Amazon to offer the co-branded card. Upon launch, TD is at a loss. TD collects merch fees. They award Amazon $$ (that they buy in bulk or via their agreement with Amazon.ca).

Amazon.ca can bite the discounts that buyers benefit from via rewards redemptions because TD fronted that cost. To what extent each partner profits from the partnership is a secret that we consumers will probably never know. But it doesn't matter...by using the card, you're neither putting either party at a loss...if anything you're rewarding them. Buy a gadget on Amazon? Kiss that extended warranty goodbye. You'd have cashed out more on buying gift cards at the grocery till if you're skipping extended warranty, where the issuer of your G&G card bites the loss.
I think TD offers these co-branded cards because of how lucrative the customer base is. It's very common for store cards to provide a customer base who is more likely to hold a balance, which is what TD wants since they make the most money on interest charges. Amazon on the other hand likes to have a co-branded card because it helps get people to shop at their website (i.e. people will chose Amazon over Walmart for the cash back bonus). Some companies like to have both sides of this equation (Loblaw, Canadian Tire) but since Amazon is such a new company, who is more interested in providing goods and services over financial products, they're going down the partnership route.
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Mar 13, 2012
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adclker wrote:
May 22nd, 2019 4:40 pm
still like AMEX AMAZON US more

Amazon Business Card
3% Back or 60 Day Terms on U.S. purchases at Amazon Business, AWS, Amazon.com and Whole Foods Market‡

Amazon Business Prime Card
5% Back or 90 Day Terms on U.S. purchases at Amazon Business, AWS, Amazon.com and Whole Foods Market with an eligible Prime membership‡

and they look interesting
Image

some middle man is taking away 50% of our reward after 6months
too bad Disappointed Face
I'm jealous US people can earn % back on AWS spending. My company puts through 6 figures on AWS yearly, imagine how much return that could be Smiling Face With Heart-shaped Eyes
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jacnel wrote:
Jun 4th, 2019 8:20 pm
but since Amazon is such a new company
Found this amusing - I don't consider them new any longer. They're established - enough so they've taken out entire chains already.
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SLOT1: Simplii 4%/1.5%
SLOT2 (2% G/G): RBC CB/MBNA SmrtCsh/Tang ** MC for WM Supercentre+NoFrills
SLOT3 (1.25% OTHER): Amex SC/Rgrs/Fido/AmexBlueSky
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jacnel wrote:
Jun 4th, 2019 8:20 pm
I think TD offers these co-branded cards because of how lucrative the customer base is. It's very common for store cards to provide a customer base who is more likely to hold a balance, which is what TD wants since they make the most money on interest charges. Amazon on the other hand likes to have a co-branded card because it helps get people to shop at their website (i.e. people will chose Amazon over Walmart for the cash back bonus). Some companies like to have both sides of this equation (Loblaw, Canadian Tire) but since Amazon is such a new company, who is more interested in providing goods and services over financial products, they're going down the partnership route.
It's a strange one. MBNA has been severely nerfed by TD's Midas touch. TD maintains all of MBNA's co-branded relationships from the BoA days, but doesn't seem to care to offer super awesome keeper cards. They cater to a niche market, but don't want MBNA cards to compete with TD CT flagship cards. Heck, even the MBNA SONY card is dead. I'm somewhat surprised MBNA would co-brand Amazon. But hey, who else would do it?
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Honestly, not a card that will join my wallet. I think the Chase Amazon was an incredible product, but an entire generation of consumers never had the chance to have the Chase version, so they don't know any better. I don't think it is fair considering it a no-AF card given one needs a Prime membership to obtain full value, which makes it a 69$/year card, with quite an average earn rate. Of course, hard to tell without all the details and official announcements, but I guess MBNA will remain a balance transfer issuer! Grinning Face With Smiling Eyes
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thefusio15 wrote:
Jun 4th, 2019 10:36 pm
Honestly, not a card that will join my wallet. I think the Chase Amazon was an incredible product, but an entire generation of consumers never had the chance to have the Chase version, so they don't know any better. I don't think it is fair considering it a no-AF card given one needs a Prime membership to obtain full value, which makes it a 69$/year card, with quite an average earn rate. Of course, hard to tell without all the details and official announcements, but I guess MBNA will remain a balance transfer issuer! Grinning Face With Smiling Eyes
+1 this.

Edit: @efrant won't be getting anymore downvotes on the Amazon.ca MBNA card thread :lol:
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CouponBaron wrote:
Jun 4th, 2019 8:52 pm
Found this amusing - I don't consider them new any longer. They're established - enough so they've taken out entire chains already.
In comparison to Loblaw and CTFS they're very new. And most of the company's wealth comes from AWS and investment anyways, they barely brake even, so I don't think starting a bank will be feasible for them.
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titaniumtux wrote:
Jun 4th, 2019 9:46 pm
It's a strange one. MBNA has been severely nerfed by TD's Midas touch. TD maintains all of MBNA's co-branded relationships from the BoA days, but doesn't seem to care to offer super awesome keeper cards. They cater to a niche market, but don't want MBNA cards to compete with TD CT flagship cards. Heck, even the MBNA SONY card is dead. I'm somewhat surprised MBNA would co-brand Amazon. But hey, who else would do it?
LOL the TD Midas touch, that's a good one.

And as for MBNA I don't know why TD keeps them around, I guess they make money but their products are old or just garbage. But hey at least MBNA is cared for more than CUETS who didn't even get a new website.
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May 26, 2009
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jacnel wrote:
Jun 5th, 2019 12:19 pm
In comparison to Loblaw and CTFS they're very new. And most of the company's wealth comes from AWS and investment anyways, they barely brake even, so I don't think starting a bank will be feasible for them.
Based on yesterday's close, they have the second highest market cap of any US company. Second only to Microsoft. Larger than JPMorgan Chase & Bank of America put together. If they wanted to start a bank, they would do so.
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Jan 18, 2015
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jtfrogger wrote:
Jun 5th, 2019 1:29 pm
If they wanted to start a bank, they would do so.
Out of cashflow.... LOL Face With Stuck-out Tongue And Tightly-closed Eyes
Max Low Income NoAF CB:
SLOT1: Simplii 4%/1.5%
SLOT2 (2% G/G): RBC CB/MBNA SmrtCsh/Tang ** MC for WM Supercentre+NoFrills
SLOT3 (1.25% OTHER): Amex SC/Rgrs/Fido/AmexBlueSky

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