Review: MBNA Rewards World Elite® MasterCard®

Update: We updated this post on Oct. 29, 2019, to let users know this card is no longer available on our website. We also updated details about the card such as annual fee and rewards.

For those looking for a straightforward rewards credit card, it can be frustrating to deal with special rotating categories or find themselves stuck with limited rewards redemption options.

If you want more flexibility in the way you redeem your rewards, and you want to earn two points for every dollar you spend, the MBNA Rewards World Elite® MasterCard® might be the right choice for you.

Features of the MBNA Rewards World Elite® MasterCard®

One of the biggest advantages to the MBNA Rewards World Elite® MasterCard® is the fact that you have a great deal of flexibility in the way you redeem your rewards. You can choose what you redeem your rewards for, whether you choose cash, travel, merchandise, or gift cards. You can even choose to donate your rewards to charity. This flexibility and freedom provides you with the chance to tailor your rewards program to your own needs.

The MBNA Rewards World Elite® MasterCard® also offers a straightforward method for earning rewards. You earn two points for every dollar in eligible purchases. This allows you to earn points quickly, and then you can redeem them for what works for you. There’s no need to worry about rotating categories with this rewards credit card. Also, right now the MBNA Rewards World Elite® MasterCard® is offering 5,000 bonus points when you enroll in e-statements and another 15,000 points when you make your first eligible purchase within 90 days of opening an account. This offer ends Oct. 31, 2019. 

It’s also worth noting that MBNA Rewards World Elite® MasterCard® comes with price protection. That means that if the price drops on something you buy with the credit card, you might be able to get a refund for the difference. There are also concierge services that can help you with travel, shopping, and other needs – no matter where you are in the world.

Other features of the MBNA Rewards World Elite® MasterCard® include:

• No limit to points that can be earned in a year.

• Points don’t expire.

• Interest rate: 19.99% for purchases, 22.99% for balance transfers, 24.99% for cash advances.

• Annual fee: $120.

This credit card is accepted in most countries in the world. However, you do need to be aware of the 2.5% foreign currency conversion fee. You also need to watch out for the higher interest rates for balance transfers and cash advances. The 19.99% purchase rate is fairly average for credit cards in Canada, and it’s important to pay off the balance each month if you don’t want hefty interest charges.

Who the MBNA Rewards World Elite® MasterCard® is right for

First off, this credit card requires an annual income of $80,000, or a household annual income of $150,000 or more. So you need to be in a high-earning bracket to be able to get it.

Because this is a rewards credit card that comes with an annual fee, you need to make sure that you spend enough each month to offset the fee after the first year. However, if you use this card as your primary payment method, it can be worth it because of the double points on your purchases.

This card's biggest strength is its straightforward points system. You earn a flat cash-back and don't have to balance spending in different categories. The MBNA Rewards World Elite® MasterCard® is ideal for someone who wants a simple and straightforward way to earn flexible rewards. You can choose what to redeem your points for. Make this your primary card, pay it off each month, and it can be a good choice – especially if you redeem for cash back or travel.