MBNA Smart Cash Platinum Plus® Mastercard®
Get up to 5% cash back on gas and groceries for six months, no annual fee, and enjoy a competitive ongoing rate of 21.99% on purchases.
The MBNA Smart Cash Platinum Plus® Mastercard® is a popular cash back credit card in Canada, designed for people who want to maximize everyday spending rewards without paying an annual fee. This card offers an impressive welcome offer: earn 5% cash back on gas and groceries for the first 6 months (on up to $500 in purchases per month). After the promotional period, continue to earn 2% cash back on gas and grocery purchases (also up to $500 monthly) and 0.5% on all other eligible purchases. The interest rate is 21.99% for purchases, making it comparable to most other credit cards.
How to Apply
To apply for the MBNA Smart Cash Platinum Plus Mastercard, you’ll need to provide some personal and financial information. Start by ensuring you are not a resident of Quebec, as current welcome offers are not available for residents of that province. Fill out the secure online application form with your details, including income and employment status. If approved, review your credit limit and card details before activating your card when it arrives.
Key Advantages
An immediate advantage is the strong cash back rate on essentials such as gas and groceries, especially during the first six months. The absence of an annual fee means you keep more of your rewards. Moreover, a suite of comprehensive insurance is included, offering peace of mind for frequent users.
Main Drawbacks
The main limitation is the $500 monthly cap on gas and grocery cash back at the elevated rate, which may restrict higher spenders. Furthermore, after the promotional period, the ongoing cash back rate drops, particularly for non-grocery and gas purchases, at just 0.5%.
Our Verdict
The MBNA Smart Cash Platinum Plus® Mastercard® is ideal for Canadians seeking upfront rewards on everyday essentials without paying an annual fee. While the best value is in the welcome offer, ongoing savings and comprehensive insurance make it a practical choice for budget-conscious users who want reliable cash back on gas and groceries.
