Annual Fee
$0
Extra Card Fee
$0
Purchase
19.99%
Cash Advance
24.99%
Balance Transfer
22.99%
Personal Income
N/A
Household Income
N/A
Canadian resident who has reached the provincial age of majority.
  • No annual fee
  • Get 5% Cash Back†† on eligible gas and grocery purchases for the first 6 months (until the total gas and grocery purchases in the applicable month reaches $500)
  • Get 2% Cash Back‡ on eligible gas and grocery purchases thereafter (until the total gas and grocery purchases in the applicable month reaches $500)
  • Get 0.5% Cash Back‡ for all other eligible purchases
  • 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**
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. MBNA Dollars will be awarded on eligible transactions charged to your account. There is a monthly spend cap of $500 on the earn rate for eligible gas and grocery purchases. Once the monthly spend cap has been reached, eligible gas and groceries purchases will only earn the Base Earn Rate. Complete terms and conditions describing Program eligibility, accrual, earn limits, and redemption of MBNA Dollars, 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. For the first six (6) months after the account is opened (the "Bonus Period“), eligible gas and grocery purchases will earn 5% in MBNA Dollars until the total gas and grocery purchases in the applicable month reaches $500 (the "Gas and Groceries Monthly Spend Cap"). Once the Gas and Groceries Monthly Spend Cap has been reached, eligible gas and groceries purchases will only earn the Base Earn Rate. Please allow 8–10 weeks from the transaction date for bonus MBNA Dollars to be posted to your MBNA Dollars account. Limit one-time bonus MBNA Dollars offer per new account. This promotion is offered by MBNA and may be amended or cancelled at any time without notice.

**Coverage is underwritten by Allianz Global Risks US Insurance Company (Canadian Branch) and/or American Bankers Insurance Company of Florida. Certain limitations and exclusions may apply to this benefit and others described in the certificate of insurance sent soon after your Account is opened.

✪ 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).

The Toronto-Dominion Bank is the issuer of this credit card. MBNA is a division of The Toronto-Dominion Bank.

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Our Review

The MBNA Smart Cash Platinum Plus MasterCard 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 $500 spent monthly) – not bad for 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 0.5% cash back earned – making this card pretty comparable to the .

One major difference between the two cards is that unlike the Tangerine Money-Back card, you are locked in to your bonus spending categories and unfortunately, the MBNA card does have a $500 combined spending cap on those categories.

However, the Smart Cash comes with 7 different types of travel and purchase insurance, compared to the 2 types the no fee Tangerine comes with.

This card is for you if:

  • you want flexibility: you redeem your rewards anytime and how you want,
  • you don't spend more than $500 on gas and groceries per month,
  • you do not qualify for cards that require $60K + personal income,
  • purchases and travel insurance is important to you,
  • you are looking for a card that has no annual fee.

The bottom line: This is a great card for anyone looking for a low income requirement, no annual fee card.

However, if you're looking for a card that will give you even more cash back and you don't mind paying a low annual fee, be sure to check out the .

What are your thoughts?

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