MBNA Smart Cash World Mastercard
Annual Fee
$39.00
Interest Rate
19.99%
Balance Transfer
22.99%
Cash Advance
24.99%
Credit Score
Good
Rewards
5.00%*
- Welcome offer: Earn 5% Cash Back on eligible gas and groceries purchases for the first 6 months ($500 monthly spend cap).
- Earn 2% on gas and groceries thereafter ($500 monthly spend cap).
- Earn 1% Cash Back on all other eligible purchases.
- Low Annual Fee of $39.
- Add up to 9 authorized users with no additional annual fee for each added authorized user.
- Includes Rental Vehicle Collision Damage Waiver Benefits.
- Purchase Assurance: coverage for items purchased with your MBNA credit card for the first 90 days from the date of purchase. Lifetime total accumulative limit of $60,000 per account.
- Extended Warranty Benefits: doubles written warranties valid in Canada for up to one additional year on eligible purchases made with your MBNA credit card.
Summary
The MBNA Smart Cash World Mastercard is a card that allows you to earn cash back for the low annual fee of $39. You can also add up to 9 authorized users with no additional annual fee for each added authorized user.
Earn 5% Cash Back on eligible gas and groceries purchases for the first 6 months ($500 monthly spend cap), and 2% on gas and groceries thereafter ($500 monthly spend cap).
Our Review
MBNA Smart Cash World Mastercard
The MBNA Smart Cash World MasterCard allows cardholders to earn cash back for a $39 annual fee. A welcome bonus of 5% cash back on gas and groceries for the first 6 months is attractive, but after exceeding the monthly spend cap of $500 the cash back rate goes down to 1% for the rest of each month. After the first 6 months, the cash back rate of 2% on gas and groceries is also limited to a spend cap of $500, dropping to 1% once that limit is exceeded.
Therefore, if the $500 spend cap is exceeded you will earn 1% cash back on all purchases for the remainder of each month. While this is clearly less attractive than the initial 5% cash back rate, you can earn 1% cash back on all purchases charged to the card. Also, you can spend that cash back in any way you like, and along with the purchase protection and extended warranty that this card offers, this card is an interesting option for a fairly low annual fee.
As per our rating system, this card scored 19/25 on rewards, 15/25 on interest rates and balance transfers, 8/25 on perks and insurance, and 23/25 on annual fees. Therefore, the total smart score of this card is 65/100.
Pros
- Low Annual Fee of $39.
- Welcome offer: Earn 5% Cash Back on eligible gas and groceries purchases for the first 6 months ($500 monthly spend cap).
- Earn 2% on gas and groceries thereafter ($500 monthly spend cap).
- Earn 1% Cash Back on all other eligible purchases.
- No limit to the total cash back you can earn.
- Add up to 9 authorized users with no additional annual fee for each added authorized user.
- Purchase Assurance: coverage for items purchased with your MBNA credit card for the first 90 days from the date of purchase. Lifetime total accumulative limit of $60,000 per account.
- Extended Warranty Benefits: doubles written warranties valid in Canada for up to one additional year on eligible purchases made with your MBNA credit card.
- Complimentary rental vehicle insurance.
Cons
- The Welcome bonus of 5% cash back is limited to the first $500 charged to the card each month.
- Your personal annual income must be greater than $60,000, or your household annual income must be $100,000 or greater, in order to apply for this card.