Credit Card Canada - Canadian Credit Card Reviews and Applications

Credit Card Articles

MBNA Travel Rewards MasterCard credit card reviews

MBNA Travel Rewards MasterCard credit card details and credit card application link.

The MBNA Travel Rewards MasterCard is a good choice of credit card if you are frequent traveler who would like to redeem bonus points for travel on over 75 airlines. New card holders get a welcome bonus of 5000 after their first qualifying transaction and 2500 every year. The card goes with an annual fee of $89, interest rate of 18.99 percent on purchases and 19.99 percent on cash advances and balance transfers. The default rate increases the regular interest rate by 5 percent if you fail to meet your monthly payment two or more times over 12 billing cycles. The minimum payment is 1 percent of the credit balance or $15. Other fees also apply: transaction fee of 1 percent on cash equivalents, balance transfers, wire transfers, and cash advances; returned payment fee of $20; over the credit limit fee of $25, returned check cash advance fee of $20, and extra copy of sales draft or monthly statement fee of $2.50.

This rewards card comes with a large array of features, giving holders the opportunity to earn 1 bonus point for every dollar in retail purchases. Additional benefits are no blackout periods, around-the-clock fraud protection, worldwide acceptance, quality 24/7 customer service, credit limit in the amount of up to $100,000, 48 hours emergency replacement for lost and stolen credit cards, additional cards at no added cost, and immediate cash advances. Individuals can call to apply, visit a bank branch, or fill in the online application. Applicants should provide relevant information such as their name and address, housing status and monthly payment (if applicable), date of birth, social insurance number, credit cards presently held, and other details. In addition, they should select an employment status (homemaker, employed, retired, permanently disabled, student, self-employed, unemployed) and decide on whether to consent to credit limit increases, account protection, and balance transfer. The latter can be up to the amount of one’s available credit line. Approved applicants can expect to receive the card within 7 to 10 business days. As an added benefit, MBNA asks clients what their preferred language of correspondence is (English or French respectively).

The MBNA Travel Rewards MasterCard comes with all platinum card benefits such as online access, international acceptance, legal assistance, pre-trip information, Common Carrier Travel Accident Insurance, Lost Luggage Assistance, Accidental Death & Dismemberment, Unexpected Return Home, Auto Rental Collision Damage Waver, and more. Additional features are balance and identity protection, extended warranty benefits and purchase assurance, Personal Effects Benefit, emergency cash and emergency card replacement. Emergency cash transfers are in the amount of up to $5000. Finally, during regular business hours, decisions on credit line increases are made within 1 hour.

While this product is a great card to have when traveling, you can still compare its features and benefits to similar financial products. The BMO Gold AIR MILES MasterCard goes with an annual fee of $99, low interest rate of 12.9 percent for an annual fee of $35, regular interest rate of 19.5 percent, and a grace period of 21 days. Card holders get 1 bonus mile for every $15 in purchases and a welcome bonus of 150 rewards miles with the first purchase charged to the card. The BMO Travel Protection comes with rental car coverage in the form of Collision Damage Waiver.

Credit Card Details
NameMBNA Travel Rewards MasterCard Apply Now
Interest Rate19.99%
Annual Fee$29
Cash BackNo
Low InterestNo
Auto and GasNo
Instant ApprovalNo
Balance TransferYes
US DollarNo
No Annual FeeNo