Hot Deals

[Great Canadian Rebates] MBNA Rewards World Elite® Mastercard® credit card - $60 cash back for sign up

Member
Apr 14, 2017
469 posts
420 upvotes
I RFD wrote:
May 25th, 2019 6:33 pm
So cash redemptions weren't downgraded to 1.67 % since Feb?
https://www.mbna.ca/help-centre/mbnarew ... /index.jsp
Currently, a minimum of 5,000 Rewards Points is required to redeem for a Cash Reward.

As of February 1, 2019, a minimum of 10,000 MBNA Rewards Points will be required to redeem for a Cash Reward, which is the equivalent of $50.00 with the new Cash Rewards redemption rate.

However, from September 1st, 2018 to January 31st, 2019 we will temporarily lower the minimum Points needed to redeem for a Cash Reward from 5,000 to 1,000 MBNA Rewards Points. This will enable you to redeem your existing Points for a Cash Reward at your current redemption rate of 100 Points per $1.00, if you wish to do so during this time period.
Newbie
Jun 27, 2018
22 posts
23 upvotes
I had this card since it is in the market. But since greedy TD takes over, I was asked to pay $120 annual fee (from no fee) my 9.99% interest rate is increased to 19.99. No trust in MBNA anymore
Member
Apr 14, 2017
469 posts
420 upvotes
I RFD wrote:
May 25th, 2019 10:49 pm
10k for $50, so 1% back if you get 2 points for every dollar spent?
That's my understanding as well.
Member
Jul 6, 2004
383 posts
17 upvotes
Scarborough
I RFD wrote:
May 25th, 2019 10:49 pm
10k for $50, so 1% back if you get 2 points for every dollar spent?
That link isn't for the World Elite card. WE is 12k points for $100 so 1.67% cashback. 2% back on travel as someone mentioned, or up to 1.9% if redeemed for certain gift cards.

EDIT: had to click on the WE sub-tab. Here are the redemption details for anyone interested (points are earned at 2 points per $1):
What changes are being made with respect to how many MBNA Rewards Points I need to redeem for travel, a cash reward, or merchandise & gift cards?
Travel Redemption: No changes are being made to the redemption value of Points that are used for travel redemptions. You will continue to be able to redeem your Points for travel redemptions at the current rate of 100 MBNA Rewards Points per $1.00.
Cash Rewards:
Currently, you can redeem your Points at a rate of 100 Points per $1.00. (For example: 12,000 Points can be redeemed for $120 in Cash Rewards).
As of February 1st, 2019, MBNA Rewards Points will be redeemable for a Cash Reward at a rate of 120 MBNA Rewards Points per $1.00. (For example, 12,000 MBNA Rewards points can be redeemed for $100 in Cash Rewards).
Merchandise and Gift Cards: Merchandise and gift card redemption options remain as indicated in the MBNA Rewards catalogue.
Jr. Member
Nov 19, 2016
199 posts
86 upvotes
Another MBNA dinosaur who's looking for a new cashback card.. thank you in advance to the RFD guru who has the answer
Deal Addict
User avatar
Jan 22, 2008
3323 posts
582 upvotes
Calgary
Go for Rogers World Elite Mastercard 1.75% on everything and 4% for foreign transactions. It is the best alternative to MBNA plus Rogers does not have annual fees.
Member
Apr 29, 2013
236 posts
244 upvotes
Candiac
Is this for new users? I have this card, regularly claim my points and just checked. The minimum is still 50$ and I only need to spend 5000 points to get it. So at 2 points per dollar spent, I still get 2% cash back. As far as I know this has been the case since I got the card.
Sr. Member
Feb 28, 2015
570 posts
132 upvotes
Montreal, QC
mrobillard wrote:
May 26th, 2019 8:21 am

Is this for new users? I have this card, regularly claim my points and just checked. The minimum is still 50$ and I only need to spend 5000 points to get it. So at 2 points per dollar spent, I still get 2% cash back. As far as I know this has been the case since I got the card.
As stated in the OP, there have been multiple changes to the card (annual fee increase / drop in rewards) unless if you're from QC.
Member
Apr 14, 2017
469 posts
420 upvotes
d-c wrote:
May 26th, 2019 12:05 am
That link isn't for the World Elite card. WE is 12k points for $100 so 1.67% cashback. 2% back on travel as someone mentioned, or up to 1.9% if redeemed for certain gift cards.

EDIT: had to click on the WE sub-tab. Here are the redemption details for anyone interested (points are earned at 2 points per $1):
What changes are being made with respect to how many MBNA Rewards Points I need to redeem for travel, a cash reward, or merchandise & gift cards?
Travel Redemption: No changes are being made to the redemption value of Points that are used for travel redemptions. You will continue to be able to redeem your Points for travel redemptions at the current rate of 100 MBNA Rewards Points per $1.00.
Cash Rewards:
Currently, you can redeem your Points at a rate of 100 Points per $1.00. (For example: 12,000 Points can be redeemed for $120 in Cash Rewards).
As of February 1st, 2019, MBNA Rewards Points will be redeemable for a Cash Reward at a rate of 120 MBNA Rewards Points per $1.00. (For example, 12,000 MBNA Rewards points can be redeemed for $100 in Cash Rewards).
Merchandise and Gift Cards: Merchandise and gift card redemption options remain as indicated in the MBNA Rewards catalogue.
Thanks for the clarification. I find it extremely confusing to not only set different rates for earning points but also for redemptions.
Member
User avatar
Jul 30, 2015
408 posts
217 upvotes
Dave510 wrote:
May 25th, 2019 10:09 pm
Of all the great credit cards out there, why did OP choose to push one of the most mediocre one...?
One of the most mediocre one ? I’m still earning 2% cash back here !
Deal Addict
Oct 14, 2005
1222 posts
491 upvotes
casperr wrote:
May 26th, 2019 4:30 am
Go for Rogers World Elite Mastercard 1.75% on everything and 4% for foreign transactions. It is the best alternative to MBNA plus Rogers does not have annual fees.
Does the the 4% subtract the 2.5% foreign transaction fee most cards charge? If not, is there a limit on how much 4% cashback you can get?
Deal Addict
User avatar
Mar 13, 2008
2353 posts
1662 upvotes
Oakville
craeyon wrote:
May 25th, 2019 3:15 pm
What the **** happened to this card. I have this and it used to be the talk of the town when it comes to cash back. Ever since TD bought out MBNA everything has gone to sh1t.
Exactly, TD ruined the best card in Canada, which was the too card for like 7 years running.

I warned at least $1250 a year from this card, now I get $590 Max even though I spend more.

And there's nothing else that offers 2% cash back.

The Rogers card is only good for Rogers customers, and even then, it's not going to yield $1250 a year with my spending.

There are some great cards in the US, but I can't even get those and the conversion fees kill it.
-ZdpZ... ;)
Newbie
Apr 21, 2009
40 posts
46 upvotes
Diafel wrote:
Jun 13th, 2019 12:14 am
Does the the 4% subtract the 2.5% foreign transaction fee most cards charge? If not, is there a limit on how much 4% cashback you can get?
Right. Effectively 1.5% cash back

Top