Features and Benefits
The mbna Rewards World Elite MasterCard comes with a lower end insurance and benefits package when compared to other World Elite MasterCard cards and Visa Infinite cards. This is part of the trade off of having a lower annual fee compared to those cards that run $120 to $150 per year. Compared to these other cards the insurance benefits are very weak with this card. You get common carrier travel accident insurance (most cards offer this), car rental CDW insurance, purchase protection and extended warranty. Pretty much standard offers on most high end and even low end cards. No medical insurance, no travel delay insurance etc. It does come with MasterCard concierge service that is found on other World Elite MasterCards to assist with hotel bookings, restaurant reservations etc.
The one benefit this card does have that many others do not is price protection. Price Protection will protect you from price drops on items you purchase with the card for up to 60 days. So if you buy a TV for $1,000 and the next week the same product is advertised for $900 you can claim the difference with the card and they'll refund you $100. You can claim up to $500 per purchase and up to $1,000 total per annum.
What is good about this card
The straight 2% return is great. It makes keeping track of your rewards easy. Then the card is so flexible in redemption options that no one should complain. Whether it is for travel or for cash back, you get 2% back.
The Price Protection benefit is also a great feature of the card.
What is not so good about this
The serious lack of a good travel insurance benefits package is what kept this card out of our Top 5 Travel Points Credit Card category in our 2016 card rankings and is a major 'not-so-good' feature of this card. If you have another card with those benefits great, but if you plan on travelling lots and making this card your primary card be warned that you do not have much coverage. While right above we stated the sign up bonus is great because it is free, many of this card competitors are also doing first year free with a larger sign up bonus worth more so on one hand the low 10,000 points is not so good.
Who should get this card
- Consumers who have another card that is their primary reward program and provides strong travel insurance and benefits like a Visa or American Express and want to add a MasterCard to their portfolio. Remember we always stress that you should carry at least one card from each of the three card brands!
- Consumers who want the utmost in flexibility with a rewards card and don't want to tied into travel rewards only.
- Consumers looking to save some money on travel or by redeeming for cash back who grab the card, getting the sign up bonus and divesting the card before the first year free is up.
- Consumers who want a straight cash back card without worrying about spending level tiers or category bonuses
This card is the strongest in the market for mbna and is a great card for the person who likes to focus on earning points with a good return while not having much interest in benefits and insurance that can come with higher end cards. It is also makes great sense as a secondary or tertiary card in one's wallet where the primary cards are Visa and/or American Express with strong benefits and the need arises for a MasterCard card for purchases at places like Costco. Is it the best card on the market? No, but its not that far off. In fact when we rank travel points credit cards with an annual fee this card is in 6th place (just out of our top 5 list) but it can easily hold its own in the earn and burn category due to its 2% return.
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mbna Rewards World Elite MasterCard
Rewards Canada's All Travel
Rewards Credit Card Comparison including the mbna Rewards World Elite MasterCard
Rewards Canada's Travel Points Only
Credit Card Comparison including the mbna Rewards World Elite MasterCard
Other cards to consider if you are looking at this
Express Gold Rewards Card
American Express Blue Sky Credit Card
World Elite MasterCard
Capital One® Aspire Travel™ World Elite MasterCard®
Avion Visa Infinite
Scotiabank Gold American Express Card
First Class Travel Visa Infinite Card
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