Credit Cards

Amazon Mastercard by MBNA

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  • Oct 12th, 2019 10:14 am
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Penalty Box
Dec 16, 2017
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CND Brain & Hear…
@dmehus as in to public shame tip shaming that kind. I'm just gonna take the free money and go.
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dmehus wrote:
Aug 13th, 2019 9:02 pm
@dekvitaly I like your verbiage, but do you mean by "nerf"? And yes, though I don't have it, I agree the Brim Financial or Home Trust Preferred Visa are the best no fee cards with no added foreign currency charges. I hate when people say, "But, but, Rogers gives me 4-5% cash back, so net-net, I'm ahead," to which I say that they can change credit card cashback rewards at will, without advance notice, whereas changes to fees require 60 days minimum advance notification. ;)

@jacnel Quite possible. I still think TD might be re-positioning some of their co-branded MBNA cards to the TDCT platform (i.e., Alaska Airlines, Nordstrom Rewards, Amazon.ca Rewards, etc.) so they can sell MBNA division ex. those cards (which they'd keep) and recoup some of their investment (suspect they'd let Platinum Plus, True Line, Melaleuca, and Smart Cash go - noted also their affinity card portfolio keeps shrinking so my guess is the Legion, Canadian Nurses Association, and alumni cards get repositioned to Smart Cash or Platinum Plus). My "money" would be on Duo Bank of Canada, issuer of the Wal-Mart Rewards MasterCard, scooping up remaining MBNA Canada/CUETS assets. :)

Cheers,
Doug
Where does it state that they can change the CB rate at will without notifying clients?

Have you ever seen a bank here change the CB rate overnight without saying anything?

Also what lots of people neglect to remember is CB isn't the only benefit of a credit card... Insurance policies are a big thing especially if you're buying expensive items or using it from travel.

That's where the the argument for the no fee CB with no added FX fee ends.

HTVP and Brim might not charge a FX fee but beyond that you can't compare the HT VP and basic Brim to the Rogers WE.


As these are all no-fee cards you might as well get them all or at least pair the HT VP with Rogers or Brim so you have network redundancy.
I would honestly get all of them as their respective insurances cover different criteria, for example you get device insurance on brim, roadside assistance on Home Trust and Rogers you can a suite of out-of-province, travel insurance and rental insurance plus more as it's a WE.
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Aug 20, 2015
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Gtaphotog wrote:
Aug 13th, 2019 10:08 pm
Where does it state that they can change the CB rate at will without notifying clients?
In the Rogers T&C: “We may change the Program and these Terms and Conditions, in whole or in part, at any time without giving you notice. Program changes may include, but are not limited to, changes to any earn rate, maximum Rewards or Eligible Purchases. ”

https://www.rogersbank.com/legaldocs/en ... ons.en.pdf
Member
Mar 14, 2014
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dekvitaly wrote:
Aug 13th, 2019 8:50 pm
Brim is better regardless. I wanna nerf this card already
Compared this card to the Brim NAF basic MC which has a 2% multiplier on all Amazon sites, Canada, USA, etc,. A MBNA purchase as a Prime member on amazon.ca is 2.5% vs Brim's 2%. If you purchase off amazon.com 1% + 0% FTF net 1% vs Brim's 2% + 0% FTF net 2%. Foreign transactions other than Amazon, the MBNA Prime vs Brim scenario results are 0% vs 1%. For non-Prime members, I'm not entirely sure what the appeal is as amazon.ca is net 1.5% and amazon.com (or any other foreign transaction) net -1.5%.
Penalty Box
Dec 16, 2017
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flyjazz wrote:
Aug 13th, 2019 11:19 pm
Compared this card to the Brim NAF basic MC which has a 2% multiplier on all Amazon sites, Canada, USA, etc,. A MBNA purchase as a Prime member on amazon.ca is 2.5% vs Brim's 2%. If you purchase off amazon.com 1% + 0% FTF net 1% vs Brim's 2% + 0% FTF net 2%. Foreign transactions other than Amazon, the MBNA Prime vs Brim scenario results are 0% vs 1%. For non-Prime members, I'm not entirely sure what the appeal is as amazon.ca is net 1.5% and amazon.com (or any other foreign transaction) net -1.5%.
Are you fighting my statement and expecting me to defend myself?

Sorry but I dont waste time :)))
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Mar 14, 2014
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dekvitaly wrote:
Aug 13th, 2019 11:23 pm
Are you fighting my statement and expecting me to defend myself?

Sorry but I dont waste time :)))
No, just supporting your position to "nerf" it.
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dekvitaly wrote:
Aug 13th, 2019 9:40 pm
@dmehus as in to public shame tip shaming that kind. I'm just gonna take the free money and go.
Ah, that's reasonable. Thanks, @dekvitaly. Sounds like how I used to nerf Tangerine's net new money promo offers for 3-4 years before I tired of it and ceded some of that premium by sticking with Hubert Financial. ;)

Cheers,
Doug
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Porfiry wrote:
Aug 13th, 2019 11:17 pm
In the Rogers T&C: “We may change the Program and these Terms and Conditions, in whole or in part, at any time without giving you notice. Program changes may include, but are not limited to, changes to any earn rate, maximum Rewards or Eligible Purchases. ”

https://www.rogersbank.com/legaldocs/en ... ons.en.pdf
I don't see it as a big problem, you can redeem your points monthly as cashback, so you don't accumulate a ton of it. As soon as they worsen it, which I know will come sooner or later, we can stop using it and use Brim or another. For now it's still 0.5% more for every transaction in foreign currency of free money. Yes there is the thing with returns, but in most cases you're never going to have to make returns with most of these purchases, so it's still worthwhile.

I also don't think this clause is valid in Quebec, a proper warning to people and a delay for the change would certainly be required there.
Last edited by Poutinesauce on Aug 14th, 2019 1:12 pm, edited 2 times in total.
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Porfiry wrote:
Aug 13th, 2019 11:17 pm
In the Rogers T&C: “We may change the Program and these Terms and Conditions, in whole or in part, at any time without giving you notice. Program changes may include, but are not limited to, changes to any earn rate, maximum Rewards or Eligible Purchases. ”

https://www.rogersbank.com/legaldocs/en ... ons.en.pdf
That's quite interesting although I'd assume they aren't the only bank that has that in their T&C.

When they changed the Platinum rewards they issued notifications to clients so I'd like to believe they'd still do that if they switched things up.

With the amount of people in rfd and reddit that have the card and are actively paying attention to the card rewards I think it'd be picked up rather quickly if they sneakily changed the rates which in turn would cause a lot of backlash for them.
The powers of RFD and Reddit aren't known until it's too late but they are powerful forces when something like that happens.
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May 26, 2009
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Poutinesauce wrote:
Aug 14th, 2019 1:05 pm
I don't see it as a big problem, you can redeem your points monthly as cashback, so you don't accumulate a ton of it. As soon as they worsen it, which I know will come sooner or later, we can stop using it and use Brim or another. For now it's still 0.5% more for every transaction in foreign currency of free money. Yes there is the thing with returns, but in most cases you're never going to have to make returns with most of these purchases, so it's still worthwhile.

I also don't think this clause is valid in Quebec, a proper warning to people and a delay for the change would certainly be required there.
+1

The risk of a card return being devalued with no notice is negligible. I'd be quite surprised if they changed it with anything less than one month's notice. The fact that an issuer can legally devalue the rewards faster than increasing fees does not factor into which card to use or apply for. At least it wouldn't for me. Any issuer can also decrease your limit or just walk away from you as a customer at any time. The card could also fail for a number of reasons, so you should have a reasonable backup anyway. Even if they did reduce the return with no notice, I could switch to another one of my cards immediately.

Yes, being a true no-FTF is better than having the FTF rebated. Rogers also has a number of other problems as a card issuer (stingy CL/CLI, wonky website, odd cash-back redemption process, etc.) But they are still the market leader for the cross the board net cashback on forex @ 1.5% with no fees for a Canadian issued card. I think it an important card in the Canadian marketplace and useful for many people.
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jtfrogger wrote:
Aug 14th, 2019 2:20 pm
+1

The risk of a card return being devalued with no notice is negligible. I'd be quite surprised if they changed it with anything less than one month's notice. The fact that an issuer can legally devalue the rewards faster than increasing fees does not factor into which card to use or apply for. At least it wouldn't for me. Any issuer can also decrease your limit or just walk away from you as a customer at any time. The card could also fail for a number of reasons, so you should have a reasonable backup anyway. Even if they did reduce the return with no notice, I could switch to another one of my cards immediately.

Yes, being a true no-FTF is better than having the FTF rebated. Rogers also has a number of other problems as a card issuer (stingy CL/CLI, wonky website, odd cash-back redemption process, etc.) But they are still the market leader for the cross the board net cashback on forex @ 1.5% with no fees for a Canadian issued card. I think it an important card in the Canadian marketplace and useful for many people.
+1

Well said.
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dmehus wrote:
Aug 13th, 2019 9:02 pm
@dekvitaly I like your verbiage, but do you mean by "nerf"? And yes, though I don't have it, I agree the Brim Financial or Home Trust Preferred Visa are the best no fee cards with no added foreign currency charges. I hate when people say, "But, but, Rogers gives me 4-5% cash back, so net-net, I'm ahead," to which I say that they can change credit card cashback rewards at will, without advance notice, whereas changes to fees require 60 days minimum advance notification. ;)

@jacnel Quite possible. I still think TD might be re-positioning some of their co-branded MBNA cards to the TDCT platform (i.e., Alaska Airlines, Nordstrom Rewards, Amazon.ca Rewards, etc.) so they can sell MBNA division ex. those cards (which they'd keep) and recoup some of their investment (suspect they'd let Platinum Plus, True Line, Melaleuca, and Smart Cash go - noted also their affinity card portfolio keeps shrinking so my guess is the Legion, Canadian Nurses Association, and alumni cards get repositioned to Smart Cash or Platinum Plus). My "money" would be on Duo Bank of Canada, issuer of the Wal-Mart Rewards MasterCard, scooping up remaining MBNA Canada/CUETS assets. :)

Cheers,
Doug
I like your idea, it makes sense. Seems like TD couldn't give a shit about mbna or CUETS anymore beyond the co-branded cards, DUO Bank on the other hand would love this.
I like credit unions. Proud DUCA member.
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jacnel wrote:
Aug 15th, 2019 9:01 pm
I like your idea, it makes sense. Seems like TD couldn't give a shit about mbna or CUETS anymore beyond the co-branded cards, DUO Bank on the other hand would love this.
I think Doug is way exaggerating. MBNA serves a segment that TD doesn't, that is, less wealthy customers who need balance transfers and the like. It represents millions of cardholders.

What they stopped caring about is all the people who were looking to use them for rewards and advantages, as in the RFD crowd, hence why they downgraded all their best cards.

It's the exact same thing with Capital One, they worsened all their cards and kept a few because only less wealthy customers who run up interest are profitable.
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There we go time for some lightning deals shopping Grinning Face With Smiling Eyes
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jacnel wrote:
Aug 15th, 2019 9:01 pm
I like your idea, it makes sense. Seems like TD couldn't give a shit about mbna or CUETS anymore beyond the co-branded cards, DUO Bank on the other hand would love this.
And they've got deep-pocketed owners in Stephen Smith (controlling owner), who holds either majority or controlling minority positions in sizable companies in Canada's financial industry (he is the joint venture partner in Canada's third largest mortgage insurer, after CMHC and Genworth Canada, Canada Guaranty, with the Ontario Teachers Pension Plan; and he is the largest shareholder in both Equitable Group (parent company of EQ Bank) and Canada's largest, non-bank mortgage lender First National Financial Corp. with over $100 billion in assets under administration, and Centerbridge Equity Partners (a PE firm).

Cheers,
Doug

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