Annual Fee
$39
Extra Card Fee
$0
Purchase
19.99%
Cash Advance
24.99%
Balance Transfer
22.99%
Personal Income
$60,000
Household Income
$100,000
Canadian resident who has reached the provincial age of majority.
  • 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 1% Cash Back‡ for all other eligible purchases
  • $39 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 $60,000, or your household annual income must be $100,000 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.

‡ 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.

†††† To be eligible for a World Account, your personal annual income must be greater than $60,000, or your household annual income must be $100,000 or greater. Additional account qualification criteria apply as set out in this application.

**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

In recent years, MBNA has been one of the top issuers for cash back credit cards. Even with their many changes over the years, they still come up as some of the best cash back cards available in Canada.

The MBNA Smart Cash World Mastercard may seem like a new card, but if you've been in the credit card game for a few years, you might remember this card was around before. Plus, it is essentially the MBNA Smart Cash Mastercard, just tweaked a little.

Let's talk about rewards...

This card offers unlimited 1% cash back on all purchases, 2% cash back on gas and grocery purchases (capped at a combined monthly spend of $500) ‒ with a low annual fee of $39.

As a welcome bonus, you earn a whopping 5% cash back on gas and groceries for 6 months (up to a combined $500 spent per month). This means you can earn up to $25 in extra money every month, and considering the annual fee is only $39, you could have the first year’s annual fee paid in less than 2 months. Not a bad deal.

And premium perks...

For a low fee card, it also includes a good amount of insurance ‒ 8 different types, to be exact, including the very rare price protection insurance.

Plus, with this card you also get concierge service, which is basically your own personal assistant – try just getting THAT for less than $39 annually…

A concierge agent can help you:

  • score tickets to a concert or sporting event,
  • make you dinner reservations,
  • order flowers for your significant other, and...

...the list goes on.

This is usually a feature only available with premium cards.

Now, the downsides...

One of the only downsides to this card might be it’s $60,000 annual income requirement, which not every Canadian can qualify for.

However, there is also a platinum plus version that has no income requirement and no annual fee. Something to keep in mind as an alternative.

Another downside? The $500 monthly cap on the 2% cash back you can earn on gas and groceries could be better, but then again…

You'll still be getting a solid 1% cash back on ALL purchases after that with no limits.

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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