MBNA Smart Cash Mastercard
- Annual Fee
- Extra Card Fee
- Cash Advance
- Balance Transfer
- Promo Transfer
- Promo Term
- 10 months
- Personal Income
- Household Income
- Earn 5% cash back on gas and grocery purchases for the first 6 months (up to $400 spent monthly).
- Earn 2% cash back on gas and grocery purchases after the first 6 months (up to $400 spent monthly).
- Earn 1% cash back on all other purchases (up to $1,250 spent monthly).
- Redeem your cash anytime by direct deposit, cheque, or statement credit.
- You could get a 1.99% promotional annual interest rate for 10 months on balance transfers completed within 90 days of opening your account (fees apply).
- Amazing travel and purchase insurance for a no annual fee card.
- No annual fee.
|Extended Warranty||1 year|
|Purchase Protection||90 days|
|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.
The MBNA Smart Cash card is one that has gone through a few changes in the last few years. Often when a card changes for the worse, it is easy to get a bad taste in your mouth and want to write it off. However, this card still has a lot of good things going for it.
For starters, the Smart Cash card lets you earn 5% cash back on gas and groceries for the first 6 months (up to $400 spent monthly). If you take advantage of this deal properly, you could be earning up to $120 in your first 6 months. And yes, this is a no fee card.
After the first 6 months, your gas and grocery rate goes down to 2% and all other purchases come in at 1% cash back earned. Respectable for a free card.
One major downfall: The spending caps can get a little frustrating. Because if you spend more than $1,250 a month, this card will cut off your rewards. And you could start missing out on cash that you would potentially get with another cash back card.
That being said, if you only plan on spending $1,250 a month or less, this card is actually the best no fee cash back card you can get.
This card is for you if:
- You want flexibility: you redeem your rewards anytime and how you want (see the list above in Key Benefits).
- An insurance package that includes 7 different types.
- 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).
The bottom line: If you always spend less than $1,250 a month, you have a minimum income of $35K, and you do not want to pay an annual fee, this card is strong.
If not, you'll do much better with the
A few other cards that might interest you.