MBNA Rewards Mastercards have recently undergone some major changes.
And one of those areas is in the insurance department. Insurance isn’t talked about much with credit cards, but can be an extremely valuable perk to have.
So let’s dive into what has changed in this department with both of these credit cards.
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Overview analysis of the MBNA Mastercard insurance changes
There are 2 credit cards that saw big changes in the insurance department – both MBNA Rewards Mastercards.
Here’s a summary of what has changed.
| Credit Card | Summary of insurance changes | Annual Fee, Income Requirements | Apply Now |
|---|---|---|---|
| MBNA Rewards Platinum Plus Mastercard | * Removed all 3 car rental insurances, trip cancellation, and travel accident * Added mobile device insurance |
* $0 * No income requirements |
Apply Now |
| MBNA Rewards World Elite Mastercard | * Added mobile device insurance, flight delay, baggage delay, and lost/stolen baggage | * $120 * $80K personal/$150K household |
Apply Now |
So were these changes for the better?
Of course, it depends on the card. Here’s an estimated look at how the value of each insurance package changed.
The good
There’s plenty to like about the changes.
For the Platinum Plus Mastercard, you’ve gained valuable mobile device coverage. It provides coverage for a piece of gear you take almost everywhere with you, which can get easily damaged.
With the World Elite Mastercard, it’s also gaining mobile device coverage, but that’s on top of getting flight delay, delayed baggage, and lost/stolen baggage added too.
The bad
The only negative was to the MBNA Rewards Platinum Plus Mastercard. It lost all 3 rental coverages, trip interruption, and travel accident coverages.
There is no downside for the World Elite card – it just added new coverage to what was already there, with no change to the annual fee.
Detailed look at MBNA Mastercards with insurance changes
So, let’s look into the details for each card. You can learn more about MBNA Mastercards and what they have to offer here.
One of the best no fee travel cards
First, let’s start with the card that lost quite a bit in insurance – the
First, here is the current coverage being offered.
MBNA Rewards Platinum Plus® Mastercard® Please review your insurance certificate for details, exclusions and limitations of your coverage.Extended Warranty 1 year Purchase Protection 90 days Mobile Device $1,000
The big addition was the mobile device coverage. Let’s be honest – your phone goes almost everywhere you do. And they’re not exactly the toughest devices out there…all it takes is one bad fall.
So rather than worrying about paying for protection plans, getting a new phone before you’re ready, or being on the hook for a costly repair – mobile device protection will take care of the costs of either getting your device repaired or replaced.
(You can get an idea of what goes into a claim here.)
But on the flip side, this card lost some coverage, the big one being rental car coverage. Before, it was a rare credit card that offered all 3 types of rental car coverage – and all 3 are now gone.
Trip interruption coverage has also disappeared. This was helpful for when you have to get home in the middle of a trip, which can be an expensive change to make. Having trip interruption insurance can take the sting out of that if you need to leave for emergency reasons.
It has also lost travel accident insurance, which provides coverage in case you get injured when travelling on a common carrier (like an air or rail line).
So how does this affect the value of the insurance package? Based on our study of the value of credit card insurance, before the changes we valued the insurance package at $307.
But now, it’s down to $158, with most of the lost value coming from the rental car coverages, buffered by the addition from the mobile device coverage.
Your main alternative
So if you want the old insurance package, it’s actually quite easy to get. Other MBNA Platinum Plus Mastercards still offer the older package with the 3 rental car coverages and trip cancellation.
So we’ll highlight the no fee
It has all the same insurance coverage as the Rewards Platinum Plus, save for the mobile device coverage.
MBNA Smart Cash Platinum Plus® Mastercard® Please review your insurance certificate for details, exclusions and limitations of your coverage.Extended Warranty 1 year Purchase Protection 90 days Travel Accident $1,000,000 Trip Interruption $2,000 Rental Car Theft & Damage Yes Rental Car Accident $200,000 Rental Car Personal Effects $1,000
And with this card, you’ll be earning up to 2% cash back on your purchases.
Want to learn more about how credit card rental car insurance works? Here are the full details.
Another alternative to consider
There’s one other credit card we’ll spotlight that has both decent insurance and no annual fee – the
It has its own decent insurance package, with 4 different types, which includes mobile device coverage.
Brim Mastercard Please review your insurance certificate for details, exclusions and limitations of your coverage.Extended Warranty 1 year Purchase Protection 90 days Mobile Device $500 Travel Accident $300,000
And on your purchases, you’ll earn 1% cash back on everything.
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On the other side of the insurance changes, we have the
And there is nothing but positive changes this time. Nothing was lost (including the rare price protection coverage), and it even gained several different types of coverage.
Here are the full details of what is now included:
MBNA Rewards World Elite® Mastercard® Please review your insurance certificate for details, exclusions and limitations of your coverage.Extended Warranty 1 year Purchase Protection 90 days Price Protection Yes Mobile Device $1,000 Travel Accident $1,000,000 Trip Interruption $2,000 Flight Delay $500 Baggage Delay $500 Lost or Stolen Baggage $500 Rental Car Theft & Damage Yes Rental Car Accident $200,000 Rental Car Personal Effects $1,000
So here, there are really no alternatives to consider – it’s much better than before. Our previous value for the value of the insurance coverage was $374, which has now increased to $449.
The best part? The annual fee didn’t increase either.
Comparison to other World Elite Mastercards
With these changes, the MBNA card is much more competitive against other World Elite Mastercards. The best World Elite Mastercards have up to 15 types of coverage, and this one is now much closer to that, having 12 types instead of the previous 8.
So, we’ll look over what these 2 Mastercards offer for insurance for comparison:
The Brim World Elite Mastercard comes with a stunning 12 types of insurance, the highest amount among Canadian credit cards.
Brim World Elite Mastercard Please review your insurance certificate for details, exclusions and limitations of your coverage.Extended Warranty 1 year Purchase Protection 90 days Mobile Device $1,500 Travel Accident $500,000 Emergency Medical Term 15 days Emergency Medical over 65 3 days Trip Cancellation $2,000 Trip Interruption $5,000 Flight Delay $500 Baggage Delay $500 Lost or Stolen Baggage $1,000 Hotel Burglary $2,500 Rental Car Theft & Damage Yes
And another top card for insurance is the BMO Air Miles World Elite Mastercard, which has 14 types of coverage.
BMO AIR MILES®† World Elite®* Mastercard®* Please review your insurance certificate for details, exclusions and limitations of your coverage.Extended Warranty 1 year Purchase Protection 90 days Travel Accident $500,000 Emergency Medical Term 15 days Trip Cancellation $1,500 Trip Interruption $2,000 Flight Delay $500 Baggage Delay $200 Lost or Stolen Baggage $750 Personal Effects $750 Hotel Burglary $500 Rental Car Theft & Damage Yes Rental Car Accident $200,000 Rental Car Personal Effects $1,000
But how do all 3 cards compare? Well, here’s our estimated value for the insurance packages of all 3 cards.
The MBNA card is still not quite as good, but it’s definitely much improved. And it has one coverage neither of these other cards has – price protection. If something you bought goes on sale within 60 days, you can get a refund on the difference. It takes the guesswork out of wondering when to buy something.
Want to learn more about all 17 types of insurance coverage? Here are the details on all of them.
Your thoughts
Depending on the card this is either great news, or may leave you wanting a little more.
But, there are other alternatives if you don’t like what you see.
What are your thoughts on what MBNA has done with their insurance?
Let us know in the comments below.
FAQ
What insurance changes are there to MBNA Platinum Plus Mastercards?
The MBNA Rewards Platinum Plus Mastercard has made some big changes. It now offers mobile device insurance, but lost 3 types of rental car insurance, travel accident, and trip interruption insurance.
What is the best alternative for the MBNA Rewards Platinum Plus Mastercard for insurance?
The best alternative to the MBNA Rewards Platinum Plus Mastercard for insurance is the MBNA Smart Cash Platinum Plus Mastercard, which has the exact same insurance package the Rewards card used to have, with 7 types total, including all 3 rental car insurance.
Are there changes to the insurance packages for MBNA World and World Elite Mastercards?
The MBNA Rewards World Elite Mastercard has gotten several new types of insurance. They include mobile device protection, flight delay, delayed baggage, and lost/stolen baggage.
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