There are only 2 MBNA credit cards and 4 ways to use MBNA Rewards Points. Nevertheless, it’s one of the few rewards programs in Canada offering travel, merchandise, and cash-like redemption options with substantial value!
Key Takeaways
- You can only earn MBNA Rewards by using the MBNA Rewards Platinum Plus or World Elite Mastercard.
- Redeeming points for travel is the most reliable way to maximize value
- MBNA travel rewards don’t have blackout dates and you can cover taxes and fees with points.
- MBNA Rewards Program Points can also be redeemed for gift cards, merchandise, charitable donations, and cash.
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What is the MBNA Rewards Program?
The MBNA Rewards Program is MBNA’s credit card rewards program, of course! Members can earn points by shopping with an MBNA credit card and redeem them for 4 types of rewards for a maximum value of 1.81 cents per point.
MBNA Rewards Program overview
Currency: MBNA Rewards Program Points
Reward categories: Cash, charitable donations, gift cards, merchandise, travel
Pros:
- 400+ brands of merchandise and gift card rewards
- 4 redemption options
- 3 Canadian charities accepting point donations
- 2 MBNA Rewards credit cards
- Points worth up to 1.81 cents CAD each
- Members-only travel deals
- No blackout dates on flight rewards
- Points don’t expire (as long as your credit card remains in good standing)
Cons:
- Points worth as little as 0.5 cents CAD each
- No partner stores offering bonus rewards
- Inconsistent exchange rates for merchandise rewards
- Requires an MBNA credit card to earn points
What are MBNA Rewards Program Points worth?
Not all credit cards are created equal – and neither are their rewards. Depending on how you spend them, MBNA Rewards Program Points are worth up to 1.81 cents per point (CPP).
Cost of reward in $CAD / cost of reward in points x 100 = value in cents per point (CPP)
According to our research, the most reliable way to maximize the MBNA Reward Program’s value is to redeem your points on travel:
| Reward category | Redemption options | Value |
|---|---|---|
| MBNA Travel Rewards | * Car rentals * Cruises * Flights * Hotels * Vacation packages | 1 CPP |
| Gift cards | * E-gift cards * Gift cards | 0.81 – 0.99 CPP |
| Merchandise | * Children and toys * Electronics * Fashion and accessories * Health and wellness * Home and garden * Kitchen and dining * Luggage and bags * Sports and leisure | 0.71 – 1.81 CPP |
| Cash and charitable donations | * Statement credit * The Canadian Cancer Society * United Way of Canada * Children’s Wish Foundation | 0.50 – 0.83 CPP |
How to earn MBNA Rewards Program Points
The only way to earn MBNA Rewards Points is to use an MBNA credit card. The bank offers 2 flexible rewards credit cards available in Canada, both powered by Mastercard:
| Credit card | Current offer | Annual fee | Income requirements |
|---|---|---|---|
| MBNA Rewards World Elite Mastercard |  $150 GC Boost + 30,000 bonus points (terms) | $120 | $80,000 personal or $150,000 household |
| MBNA Rewards Platinum Plus Mastercard | 10,000 bonus points (terms) | $0 | None |
MBNA Rewards World Elite Mastercard
×4 Award winner 
GC: $125 + $25
4x Award winner Rewards:
- 5 points for every $1 spent on restaurants, groceries, and select recurring bills (up to $50,000 spent annually per category)
- 1 point per $1 spent on all other purchases
Average return rate: 2.86%
The MBNA Rewards World Elite Mastercard offers the highest returns of the two MBNA credit cards. With a return rate of 5%, you’ll receive $5 in rewards for every $100 you spend.
Value of rewards in $CAD / $CAD spent = rate of return in %
You’ll want to bring the MBNA Rewards World Elite Mastercard to all your favourite restaurants and grocery stores, but why not throw in a visit to Cirque du Soleil or an airport lounge? With World Elite Mastercard benefits, you’re eligible for 20% off circus tickets, discounted entry to 1,300+ DragonPass lounges, and so much more.
Pros:
- 10% bonus points on your birthday
- 10% off AVIS and Budget car rentals in Canada and the US
- Higher cash and charity reward exchange rate
- 12 types of insurance included
- World Elite Mastercard benefits
Cons:
- $80,000 personal or $150,000 household income required
- $50,000 annual cap on eligible spending per category
- 22.99% interest on cash advances
MBNA Rewards Platinum Plus Mastercard
Rewards:
- 2 points for every $1 spent on restaurants, groceries, and select recurring bills (up to $10,000 spent annually per category)
- 1 point per $1 spent on all other purchases
Average return rate: 1.54%
The MBNA Rewards Platinum Plus Mastercard offers the same flexibility as the #1 MBNA credit card with no annual fee. In exchange for less earning power, insurance coverage, and benefits, you don’t need to prove a cent of household income – plus, you get mobile device insurance and purchase protection for free.
Pros:
- 10% bonus points on your birthday
- 5 – 10% off AVIS and Budget car rentals
- No income requirements
Cons:
- $10,000 annual cap on eligible spending per category
- 22.99% interest on cash advances
- Only 3 types of insurance included
- Lower cash and charity reward exchange rate
How to redeem MBNA Rewards Program Points
You can check your MBNA Rewards points balance at any time by visiting the MBNA website or mobile app. Don’t fret if your point balance is low – you can redeem as little as 1 point at a time and make up the rest of the reward with debit or credit.
All redemption options are available through the MBNA Rewards Centre, which you can reach in two ways:
- Logging onto MBNA.ca, clicking "Manage Rewards", and selecting the type of reward you want
- Calling 1-877-877-3703 from 9:00 AM – 7:00 PM EST Monday to Friday or 9:00 AM – 5:00 PM EST Saturday
Contact the Rewards Centre if you have any questions about the program or your rewards.
MBNA Travel Rewards
Redemption options: Car rentals, cruises, flights, hotels, and vacation packages
Most valuable option: Any option at 1 CPP
How to redeem:
All MBNA Travel Rewards use a fixed exchange rate of 100 points per $1, yielding 1 CPP without the need to hunt for deals or wait for sales. Just make sure to book your adventures at least 48 hours in advance.
To create a booking online:
- Visit the MBNA website, log in, click "Manage Rewards," and select “Travel.”
- Select the tab for "Flights," “Vacations,” “Accommodations,” “Car Rental,” or “Cruise” and enter your destination, travel dates, and number of travellers.
- Filter the results using the options on the left (including provider, rating, cancellation policy, and more) and click to select.
- Add your chosen travel products to your basket and check out by entering your traveller and payment information.
- (Optional) Call the Rewards Centre to purchase travel insurance, select a particular seat on a flight, or make changes to your travel bookings.
MBNA Travel Rewards don’t have blackout dates or booking fees and you can spend your points on taxes, fees, or airline tickets for somebody else. We recommend researching travel products ahead of time – all sales are final and you can’t price-match before or after booking.
Pro Tip: You can collect Aeroplan points, WestJet dollars, and VIPorter points on every flight you buy with points or cash by entering your membership number during checkout.
Gift cards
Redemption options: E-gift cards and gift cards
Most valuable option: A $200 Walmart Canada e-gift card at 0.99 CPP
How to redeem:
The MBNA Rewards Catalogue offers digital and physical gift cards from 60+ brands, including Apple, BestBuy, and Ultimate Dining.
It’s one of the few programs to provide cash-like redemption options that are almost as valuable as travel. You can get up to 0.99 CPP by choosing e-gift cards in large denominations (physical gift cards lose about 10% of their value to shipping and handling costs). At the time of writing, the most expensive (and valuable) redemption option is a $200 Walmart Canada e-gift card for 20,235 points.
To order online, log into the MBNA website and visit the Rewards Catalogue. Select "E-Gift Cards" or “Gift Cards” in the menu, browse the options, click the picture of the product you want, and choose your desired denomination. Check out and enter your shipping and payment information to complete your order.
E-gift cards should appear immediately in your email inbox but physical gift cards take 7 – 14 days to ship.
MBNA Reward gift cards and e-gift cards cannot be cancelled or returned.
Merchandise
Redemption options: Toys, electronics, fashion, health, home, kitchen, luggage, and sports
Most valuable option: Aria Beauty Very Necessary 3-Piece Lavender Sleep Set for 1.81 CPP
Merchandise from the MBNA Rewards Catalogue offers substantial but inconsistent value. We divided the price tag of 16 items by their cost in points, multiplied the results by 100, and discovered values ranging from 0.71 – 1.81 CPP.
Unfortunately, the best deals have nothing to do with an item’s price, brand, or category – you’ll have to do the math and take what you get. At the time of writing, the most valuable item we found was a 3-piece lavender sleep set by Aria Beauty for 2,990 points.
If you feel like bargain-hunting, visit the MBNA Rewards Catalogue and choose one of 9 merchandise categories. Click the picture of the item you wish to buy, select any colour or size options, and add it to your cart. You’ll be asked to enter your shipping and payment information during checkout.
On the plus side, all prices include shipping and handling. You should receive your prize in about 7 – 14 days.
You can return unwanted items within 15 days (and damaged or defective ones within 30) by calling the MBNA Rewards Centre.
Cash and charitable donations
Redemption options: Statement credits, banking deposits, or charitable donations
Most valuable option: Any option at 0.5 – 0.83 CPP
The MBNA Rewards Program offers credit cardholders 3 ways to cash out. Call the Rewards Centre or visit the MBNA website, log in, click "Manage Rewards," and then select “Cashback and Charitable Donations.”
You’ll be presented with the option to transform your MBNA points into a:
- Credit on your credit card balance
- Deposit to your personal chequing account
- Donation to the Canadian Cancer Society, United Way of Canada, or Children’s Wish Foundation
Make your selection, choose when to redeem, and then choose how many points to redeem before you continue. Every other detail depends on what type of MBNA Rewards credit card you have:
| MBNA Rewards World Elite Mastercard | MBNA Rewards Platinum Plus Mastercard | |
|---|---|---|
| Minimum required for redemption | 6,000 points | 10,000 points |
| Exchange rate | 120 points = $1 | 200 points = $1 |
| Value | 0.83 CPP | 0.5 CPP |
Warning: Point redemptions do not count toward your MBNA credit card’s minimum payment.
Is the MBNA Rewards Program worth it?
Apart from Amex Membership Rewards and Scene+, few programs can match the flexibility of MBNA Rewards. Cardholders aren’t required to choose a single reward to get their money’s worth or visit certain stores to collect points. MBNA Mastercards are accepted worldwide and offer decent returns in several common spending categories.
The MBNA Rewards Program is a balanced option for most Canadians but there are more compelling products at either extreme. Traditional cash back credit cards are more flexible, while travel credit cards offer more value (but less choice).
Finally, if you have a high income, Visa and American Express offer more competitive premium credit cards and more exclusive perks and benefits than MBNA Mastercards.
FAQ
What are MBNA Rewards points worth?
If you find the right merchandise deal, MBNA Rewards points are worth up to 1.81 cents apiece, but you can always trade them for 0.99 – 1 cent each toward gift cards and travel.
How do I claim cash back on my MBNA credit card?
To convert MBNA Rewards points to cash, visit the MBNA website, click "Manage Rewards," and select “Cashback and Charitable Donations.” Choose whether you’d like to convert your points to a donation, deposit, or statement credit, and enter how many points you’d like to redeem.
How do I contact MBNA Rewards?
You can reach the MBNA Rewards Centre at 1-877-877-3703, Monday to Friday from 9:00 AM – 7:00 PM EST, and Saturday from 9:00 AM – 5:00 PM EST.
What is the best use of MBNA Rewards?
You can reliably squeeze 1 cent CAD out of every MBNA Rewards point when you redeem them on travel or e-gift cards. While MBNA Merchandise Rewards offer more potential bang for your buck, you’ll have to calculate, compare, and settle for whatever deals you can find.
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