Personal Finance

[Merged] TD buying mbna canada's credit card business!

  • Last Updated:
  • Dec 3rd, 2011 11:55 pm
195 replies
Deal Addict
Dec 25, 2005
1451 posts
485 upvotes
Oh wow, this is unexpected. Hopefully they don't make too many changes to the card benefits (i.e. Smart Cash).
Deal Fanatic
User avatar
Mar 30, 2004
5302 posts
2996 upvotes
Durham Region
Wow indeed.... looks like Capital One will be our only hope for decent rewards from now on. :mad:

also, gonna miss MBNA's online access site. Love being able to see temp transactions. At least we got about 18 months until any real changes are made.
Deal Addict
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Jun 23, 2009
1154 posts
140 upvotes
YUL
Good riddance to bad rubbish! 99% of MBNA's cards serve little/no function. Only smartcash and the Alaska Air Card offer something special.
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Deal Addict
Oct 1, 2006
3249 posts
4472 upvotes
Montreal
That will not be good for us.
Banned
Feb 10, 2010
789 posts
37 upvotes
So does that mean TD will issue replacement cards for MBNA holders? or it all just migrates to them?
Deal Addict
Oct 14, 2004
1474 posts
438 upvotes
Toronto
Interesting...now TD will have both Visa and Mastercard similar to CIBC.
Deal Addict
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Dec 6, 2005
1784 posts
652 upvotes
St. John's
Dammit. The American banks may not know how to remain liquid, but they sure know how to offer great rewards, this should mean the end of great rewards without an annual fee at MBNA.
Sr. Member
Oct 14, 2009
559 posts
588 upvotes
Rothesay
The stories don't necessarily state that the MBNA brand will disappear completely. That may very well end up being the case but it looks like we have at least 2 years of MBNA cards left and the possibility that the brand will live on.

Losing the Smart Cash would definitely be a tragedy :(
Jr. Member
Jun 28, 2007
135 posts
13 upvotes
Damn it, hope TD is not stupid enough to cancel smart cash, i just applied last month!!!
Deal Addict
Apr 14, 2007
2959 posts
463 upvotes
Montreal
slotscanada wrote: YIKES! I hope this doesn't affect the $25k I have been riding out at 0.9% FOR LIFE promotion - for the past few years, and was planning to do the same for next bunch of years.

Does that also valid on cash advances? If so, you're a lucky SOB I'd use that low rate to invest in stocks paying great dividends.
Deal Addict
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Jan 19, 2007
1451 posts
811 upvotes
Torontario
sad day for deal-hunters with this TD acquisition ..... while it could have been worse if RBC bought them
Deal Addict
Oct 8, 2006
2051 posts
125 upvotes
CorSter wrote: Wow indeed.... looks like Capital One will be our only hope for decent rewards from now on. :mad:

Very bad news indeed. :cry: CapOne is our only hope left.
Deal Addict
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Sep 10, 2003
1668 posts
194 upvotes
Hamilton
gnuman wrote: Does that also valid on cash advances? If so, you're a lucky SOB I'd use that low rate to invest in stocks paying great dividends.

Yup, exactly what I did 2 years ago with the money, and write off the $40 per month interest as an expense!
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Deal Fanatic
User avatar
Mar 30, 2004
5302 posts
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Durham Region
ohnabatko wrote: sad day for deal-hunters with this TD acquisition ..... while it could have been worse if RBC bought them

at least RBC's cards look good :razz:
Deal Fanatic
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Feb 20, 2006
7575 posts
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Canada
Vasyl wrote: Very bad news indeed. :cry: CapOne is our only hope left.

Let's hope CapOne isn't bought out by RBC then lol

Sigh...I'm gonna guess that Smartcash won't be alive in 2 years...or it will have an annual fee similar to Scotia's Momentum card (somewhere between the Infinite Momentum and regular Momentum).

Sigh...that's too bad
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Deal Addict
Oct 8, 2006
2051 posts
125 upvotes
shannn wrote: Let's hope CapOne isn't bought out by RBC then lol

Could not agree more.

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