Annual Fee
$0
Extra Card Fee
$0
Purchase
14.99%
Cash Advance
24.99%
Balance Transfer
16.99%
Promo Transfer
1.99%
Promo Term
10 months
Personal Income
N/A
Household Income
N/A
Canadian resident who has reached the provincial age of majority.
Best Balance Transfer Credit Card for 2018 award seal
  • 1.99% promotional annual interest rate† (AIR) on balance transfers✪ for the first 10 full months
  • Earn 1 MBNA Rewards point for every $1 in eligible purchases‡
  • 1,000 bonus points after your first eligible purchase††
  • Redeem points for cash back, travel, brand-name merchandise, gift cards from top retailers and charitable donations
  • No annual fee
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

Please review your insurance certificate for details, exclusions and limitations of your coverage.

‡These are highlights of the credit card rewards program (the ""Program"") associated with this credit card account. Points will be awarded on eligible transactions charged to your account as set out in the Program terms and conditions. Complete terms and conditions describing Program eligibility, accrual and redemption of points, and other important conditions, limitations and restrictions will be sent after your account is opened. Please read the terms and conditions carefully upon receipt.

††To qualify for this offer, an applicant must be approved for the specific credit card account described in the offer. The account must be used for at least one eligible transaction that is not subsequently rescinded, the subject of a charge back request or otherwise disputed. Please allow 8 -10 weeks from the transaction date for bonus points to be posted to your points account. Limit one-time bonus point offer (no cash value) per new account. This promotion is offered by MBNA and may be amended or cancelled at anytime without notice.

†Promotional AIR offers remain subject to: (i) your MBNA credit card account being in good standing during the promotional period, and (ii) your financial status not having changed since the date we initially determined that your account was eligible for a promotional AIR. The promotional AIR will increase at the end of the promotional AIR period or if you are late making any minimum payment, and any remaining balances will become subject to the applicable standard AIR.

✪Balance transfers and access cheques must be repaid and otherwise dealt with according to the terms of your Account Agreement and are subject to credit availability. Balance transfers and access cheques cannot be used for repayment of any account established or maintained by MBNA or its affiliates. A transaction fee may apply. See your Account Agreement for full details.

There's an even better card for you.

Our Review

If you're the type of person who likes a little bit of everything, the Canadian Western Bank MBNA Rewards MasterCard® has it all:

  • The ability to earn flexible rewards
  • A low interest rate
  • An introductory balance transfer rate
  • 7 types of travel and purchase insurance
  • No annual fee

Let's start with the fact that this card lets you earn 1 point for every dollar you spend, everywhere. And the beauty of MBNA rewards is that they are 1:1 when you redeem them travel - a straight-up 1% return.

Not only is this a rewards card, but it is also going to save you money on interest.

  • A permanent interest rate of 14.99% on purchases
  • A permanent interest rate of 16.99% on balance transfers
  • You could get a 1.99% promotional annual interest rate for 10 months on balance transfers made in your first 90 days (keeping in mind there are fees involved –with a fee of 1% of the amount advanced (minimum fee of $7.50)

Add onto all of this the 7 types of insurance that are included at no extra cost and you have yourself one of the best no fee, flexible rewards cards out there.

Finding no fees, good rewards, low interest, and good insurance coverage all on the same card is extremely rare. This card manages to pull it all together in a convincing fashion.

What are your thoughts?

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The creditcardGenius algorithm calculates an estimated dollar value for all rewards and bonuses by using a typical point value a person can realistically achieve by redeeming their rewards in a reasonably optimized way. The "Welcome Bonus" is the dollar value obtained by combining of all one-time bonuses available to new cardholders within the first year. To qualify for the full bonus you may need to make purchases, meet minimum spending requirements, or complete special actions. Terms and conditions apply.

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