Annual Fee
Extra Card Fee
Card Type
Cash Advance
Balance Transfer
Personal Income
Household Income
Canadian resident who has reached the provincial age of majority.
  • 2 points for every $1 in eligible purchases.
  • Receive 5,000 bonus points†† after your first eligible purchase within the first 90 days of account opening.
  • Receive 5,000 bonus points†† once enrolled for e-statements within the first 90 days of account opening.
  • Redeem points for travel, brand-name merchandise, gift cards from participating retailers, cash back, and charitable donations.
  • $120 annual fee.
  • Standard Annual Interest Rates of 19.99% on eligible purchases, 22.99% on balance transfers and access cheques, and 24.99% on cash advances.
  • A suite of comprehensive insurance.**
  • Your personal annual income must be greater than $80,000, or your household annual income must be $150,000 or greater.††††
Extended Warranty 1 year
Purchase Protection 90 days
Price Protection Yes
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.

✪ Balance transfers will be fulfilled in the order listed and are treated as balance transfers in accordance with your Account Agreement. The total value of balance transfers cannot exceed your authorized credit limit. If the value is greater, MBNA may send a partial payment to the named creditor/designated account. THERE WILL BE A TRANSACTION FEE EQUAL TO 1.00% OF THE DOLLAR AMOUNT OF EACH BALANCE TRANSFER INITIATED WITH THIS APPLICATION. A MINIMUM FEE OF $7.50 WILL APPLY TO EACH BALANCE TRANSFER TRANSACTION. A balance transfer may not be used to pay off or down your account balance or any other balances with us (including our affiliates, which would include any member of the TD Bank Group).

** Certain limitations and exclusions may apply to this benefit and others described in the certificate of insurance sent soon after your Account is opened. Underwritten by Allianz Global Risks US Insurance Company (Canadian Branch). Details of insurance benefits, including terms, conditions, limitations and exclusions are in the Certificate of Insurance provided with your card.

a By calling to apply for this credit card, you acknowledge your agreement to the Terms and Conditions of Offer and Privacy Terms in this application.

~ As a Mastercard credit card cardholder, you will receive the benefit of Zero Liability in the event of the unauthorized use of your Canadian-issued Mastercard credit card. Zero Liability is provided under specific conditions. Visit for more information.

§ You agree that if no language preference box is checked, you have expressly requested that any agreement and other documents and correspondence related to this application and any credit device and Account approved be drawn up in English only. / Vous convenez que si acune case de préférence de langue n'est cochée, vous avez expressément demandé que toute convention et tout autre document et correspondance se rattachant à cette demande, et à tout instrument de crédit et Compte approuvés soient rédigés en langue anglaise.

†† To qualify for this offer, an applicant must be approved for the specific credit card account described in the offer and: (a) in order to obtain a "First Eligible Transaction Bonus" of 5,000 bonus points, the account must be used for at least one eligible transaction within the first 90 days of account opening that is not subsequently rescinded, the subject of a charge back request or otherwise disputed, and (b) in order to obtain a "Paperless Bonus" of 5,000 bonus points, you must enroll in online banking at, and consent to Paperless Statements for the account within the first 90 days of account opening, and not subsequently rescind such enrollment throughout this period. Please allow 8-10 weeks from the transaction date and the Paperless Statement enrollment for the applicable bonus points to be posted to your points account. Limit one-time bonus point offer (no cash value) per new account for each of the First Eligible Transaction Bonus and the Paperless Bonus). This promotion is offered by MBNA and may be amended or cancelled at any time without notice.

†††† To be eligible for a World Elite account, your personal annual income must be greater than $80,000, or your household annual income must be $150,000 or greater. Additional account qualification criteria apply as set out in the application.

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Our Review

The MBNA Rewards World Elite card allows you to earn 2 points on every purchase you make - no limits, no cap, no restrictions. These points can be used to redeem for almost anything - from travel purchases, merchandise to cash back on your statement.

With an annual fee of $120, this MBNA card gives you:

  • A signup bonus of 10,000 points - 5,000 upon your first purchase, and another 5,000 when you enroll for e-statements (must be completed in 90 days)
  • An insurance package that includes 8 different types of insurance
  • Some perks like 24/7 concierge service and free secondary cards

Points are worth varying amounts depending on what you redeem them for:

  • For travel credits, 100 points is worth $1, a 2% return;
  • For cash back, 120 points is worth $1, a 1.67% return;
  • Merchandise varies according to the MBNA Catalogue.

A few things to watch out for: Like most World Elite cards, this one does have a pretty hefty minimum income requirement, and your points are varied in value. To earn maximum value for this card, your points need to redeemed for travel purchases. There is also a hefty annual fee of $120.

With its recent cash back devaluation, here are some other cash back cards to strongly consider in its place:

The – Earn a flat 2% cash back on all of your purchases, with an annual fee of $99.

The – Earn 4% cash back on gas & groceries, 2% on bills and pharmacies, 1% on everything else, with an annual fee of $99.

What are your thoughts?

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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