MBNA Smart Cash Credit Card Review

MBNA Smart Cash MasterCard Credit Card Canada Review
MBNA Smart Cash Credit Card Review

Do you like earning rewards for all of your everyday shopping needs? MBNA Smart Cash MasterCard® Credit Card Canada is one of the best cashback credit cards that let you save on your most common purchases. Household shopping is essential and common between employees and business class where it offers up to 5% cashback on gas and groceries, that’s the reason saying MBNA Smart Cash MasterCard Credit Card Canada as a credit card for all may not be wrong. MBNA Smart Cash Credit Card Review supports household shoppers, here’s are some card details;

  • Get up to 5% cashback on eligible gas and grocery purchases for the first 6 months.
  • Get up to 2% cashback on eligible gas and grocery purchases thereafter*
  • Get up to 1% cashback for all other eligible purchases*
  • 1.99% promotional annual interest rate* (AIR) on balance transfers* for the first 10 full months
  • If eligible, you will be considered for an upgrade to a Smart Cash World MasterCard® credit card
  • No annual fee

MBNA Smart Cash Credit Card Review

If you like earning rewards on your everyday purchases then MBNA Smart Cash Credit Card may be your best deal. You will earn 5% cashback every time you visit the grocery store or fill up at the gas station – one of the highest cashback earning rates in Canada. MBNA Smart Cash MasterCard® Credit Card lets you entitled cashback rewards at this special rate for the first six months on all gas and grocery purchases then after it drops to standard two percent rate after initial promotional period of 6 months. The MBNA Smart Cash Credit Card also offers 1% cashback on all other purchases. Once your earnings reach $50 MBNA will cut and mail a cheque to you as a cardholder.

Here are two awards that MBNA Smart Cash Credit Card won last year:

  1. Best of Finance 2015; 3-Peat Winner for “Best Cash Back Credit Card“
  2. Best of Finance 2015; Runner Up for “Best Cash Back Credit Card in Canada“

There is nothing that doesn’t hold disadvantages with the advantages, MBNA Smart Cash MasterCard Credit Card Canada may also offer you some features that you don’t like, it’s up to you to find out your favourite features that suit you before making the decision to get the right credit card according to your need. Here’s are some pros and cons of having this credit card;

Pros

  • No annual fee
  • Receive 5% cashback on gas and groceries for the first six months.
  • Earn 2% cashback standard rate on gas and groceries after six months.
  • 1.99% intro Balance Transfer Rate for the first 10 months.
  • Receive a cheque by mail for your earnings reach $50

Cons

  • Your cash back earnings will drop 3% after the initial 6 months promotional period as cashback drop at standard 2% cashback.
  • 1% earning rate on other purchase types is lower than similar cashback cards in the market.
  • It doesn’t include any built-in insurance benefits or retailer discounts.
  • Rewards can only be cashed out at a minimum of 50 dollar.

Conclusions and Suggestions

There is no doubt about the MBNA Smart Cash MasterCard being the best Canadian Cash Back Credit Card but taking a decision is a real challenge especially when the market offers a variety of cashback credit cards and if you compare; 5% cashback on all gas and grocery purchases within the first 6 months is one of the top features of the MBNA Smart Cash MasterCard Credit Card Canada that makes it one of the best cashback credit cards with no annual fee among its competitors, as this rate just comes down to standard 2% cashback after 6 months, to enjoy full benefits of this offer you should confirm your card’s intro period should cover the holiday season and special occasions when your spending increased a lot because this way you can earn more cashback. Moreover, a 1.99% balance transfer rate for the first 10 months is another top feature of this card but before activating this feature you should keep in mind; it will waive the initial grace period on new purchases; being charged interest right away will wipe out your cashback earnings.

*For more information, updates and how they did it; cashback earnings on food, gas, travel and other things, you should click here to read the landing page that holds official credit card offer for; MBNA Smart Cash MasterCard® Credit Card.

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