Comments on: MBNA Smart Cash Credit Card – Best Credit Card in Canada?

By: smayer97

smayer97 — Fri, 02 Dec 2011 17:24:29 +0000

I received the offer to upgrade to the World Cash Back card, and I upgraded as there are no losses, only gains, as far as I have been able to tell and confirm (and I get the 5% offer back for 6 more months).

I notice that this new version is NOT on their website, nor do I see the 2X points version that Mr. Bubba mentions. I only see the latter with the 1X points for $29/yr.

I was lead to believe that the upgrade was only available on a personal invitation only. Could it be that both of these available on a personal invitation only?

Where is the info for these? I cannot find anything online

By: Brian

Brian — Fri, 18 Nov 2011 23:48:43 +0000

So Mr. Bubba did you upgrade?

By: Mr. Bubba

Mr. Bubba — Fri, 18 Nov 2011 23:33:00 +0000

My conversation was recorded. I also asked them three times and told them as part of quality assurance of the discussion to confirm no annual fee to the mbna world points world edition upgrade card and they did each time to be sure lol.
They indicated all terms (no annual fee), rates remain the same and is disclosed in documentation provided.
The upgrade includes all the perks like MBNA smart cash world card (price protection, concierge, etc).
However they clearly stated on the phone 10,000 points upon first purchase no minimum on purchase before December 19th, 2011. So go buy a candy bar for a $1 and get $99 dollars back (10,000 points = $100).
Then get 2% when u think about it moving forward using the world points world edition card with no annual fee. TD would have to honour existing agreements unless they abolish both cards one day and start new with fee cards. That we would have to wait and see and then move onto another better card which FT can outline.

By: JT

JT — Thu, 17 Nov 2011 16:11:14 +0000

I also received the same upgrade offer for the MBNA Smart Cash World MasterCard credit card. What is the difference between this and the existing Platinum Smart Cash MC?

By: Brian

Brian — Thu, 17 Nov 2011 01:30:49 +0000

I also received the MBNA Smart Cash World MasterCard credit card upgrade offer. The terms look the same, with price protection for 60 days after purchase and vip desk access. Anyone else have ideas why this offer is coming out?

By: Tana

Tana — Wed, 16 Nov 2011 02:02:42 +0000

@smartcasher, no i do not carry a balance although it is my main card and use it to purchase everything and since it has such a low interest rate i love it even more. I have a points card from capital one as well and my interest rate with them is 5.99% as well. no fee.

@MR. BUBBA……. where is this 10 000 bonus pts. I onyl see 1 000, and a $29 annual fee. And what do you mean 2X points. Im totally lost in your post.

As far as my 8.9% APR, I had a premier rewards card a few years back and was given 8.9% rate to stay with the company because I was going to change, so they decided to keep me happy and give me a low low rate. When I changed my card to the smart cash card, they kept my rate, which is extremely rare. So thats how I got it.

By: FrugalTrader

FrugalTrader — Tue, 15 Nov 2011 23:39:57 +0000

@smartcasher, I have not upgraded to the new card. I’m not sure why they are offering the world card upgrade for free, there is a conspiracy theory that it has something to do with TD taking over MBNA. Stay tuned!

By: smartcasher

smartcasher — Tue, 15 Nov 2011 23:36:39 +0000

Hey FT – have you switched to the new card or received that offer yet?

Tana, please tell me you don’t let your purchases accrue interest at 8.9%?

By: Mr.Bubba

Mr.Bubba — Tue, 15 Nov 2011 22:29:24 +0000

Correction: Upgrade is WorldPoints MBNA World Mastercard not WorldPoints MBNA regular edition.

By: Mr.Bubba

Mr.Bubba — Tue, 15 Nov 2011 21:50:53 +0000

Ok I am back!
Listen up people follow this and this has to be the best double punch I have ever seen.
Upgrade to MBNA Smart Cash World credit card if you meet requirement for the enrollment 5% cash back bonus for six months once again with no annual fee and other perks (price protection, concierge vip service, etc.
Then upgrade or get the MBNA world points credit card if you meet requirement and you then get 2X points per $1 spent instead of previous 1X point tier system.
Here is the kicker you get 10,000 bonus points upon first purchase which is equivalent to $100 cash back without doing nothing and no annual fee. It has no limits whatsoever on 2X points mechanism.
So basically you and your spouse with MBNA smart cash card yield the monthly $600 allowance (if your single) each ($1,200 maximum if your together with significant other) for 3% or 5% cash back on groceries, gas, etc…
Anything over $600 if your on your own or with spouse’s card and then use the world points world credit card for all other purchases because you get more money back in the end then annual fee based cash back cards or regular offer at 1%.
The double whammy potential on these premium cards with no annual fee is a no brainer.
Get them both if you meet the requirements.
Have a good one and get more in the end to use for leisure or trips.

By: FrugalTrader

FrugalTrader — Sat, 12 Nov 2011 16:48:39 +0000

This card is still my primary card. I’ve already received hundreds of dollars in cash back cheques which doesn’t take long since we funnel most of our spending through it.

By: Tana

Tana — Sat, 12 Nov 2011 14:01:59 +0000

And btw, I’m holding a 8.9% fixed
Low annual interest rate on purchases on this card. Is this rare or is this common among the posters? And yes this is my purchase interest rate, I have exceptional credit and I think this is why but I always thought it was a fluke that they gave it to me on a rewards card :)

By: Tana

Tana — Sat, 12 Nov 2011 13:57:10 +0000

I got the offer two times now, once while signing in online and a second time by mail. I think maybe because td bought the account they are trying to get everyone to switch into a td terms of service or agreement. I don’t think there are any major losses if you do switch, I read that the limits that you can get are much higher, 50000$ as opposed to 17300$ with the current card. Other then that I didn’t really see any other differences. It is a world points card which essentially is the same thing except you can use the points for redemption of good and not just cash in the form of a cheque. Anyone who still has the terms of agreement might want to read both offers and let us know. There is definitely a reason why they want us to switch just have to dig deeper.

By: Exact3001

Exact3001 — Fri, 11 Nov 2011 11:51:02 +0000

I was just offered the MBNA smart cash world credit card for being an exceptional customer. Any thoughts on this card?

By: Deez

Deez — Mon, 15 Aug 2011 13:22:42 +0000

It looks like TD just bought out MBNA’s mastercard portfolio… I wonder how long the smartcash cc’s benefits will last…

By: Bob

Bob — Mon, 06 Jun 2011 21:54:04 +0000

The interest rate of 19.99% is pretty steep though.

By: smartcasher

smartcasher — Wed, 08 Dec 2010 23:23:40 +0000

I decided to call on work time (sorry boss) and MBNA says that you shouldn’t use the SC card with the 0.0% balance transfer because it eliminates the interest free grace period on purchases. If you are the type who pays the card bill off every month to avoid any interest, then you should definitely not do the balance transfer on the SC card.

Therefore, he recommended applying for a second no-annual fee card and redistributing a chunk of the credit limit I hold at MBNA over to the new card. This is the route I will be taking. Will likely do about $12,000 and it should cost me $120 upfront for the transfer, but save me at least $450-$500 in interest on my house debt. Could also look at investing it or doing a large RRSP contribution, but will have to weigh these options out.

By: smartcasher

smartcasher — Wed, 08 Dec 2010 22:05:53 +0000

I still haven’t called MBNA but I still plan to do so and see if my plan will work.

I have heard people adamant on two sides of how MBNA handles the payments. Some people say that the payment goes toward the lowest int. rate balance first (0.0%) which would obviously make my strategy useless. Others say that in Sept 2010, MBNA changed the way they handle payments and it is applied to the higher interest rate balances first.

I hope to find out soon and find out if it’ll work one way or the other. Worst case scenario is I guess I’d have to apply for yet another CC (from MBNA) and transfer the bulk of my credit limit over from SC card to the new one at 0.0%. Despite the 1% transfer fee, the March 2012 deadline makes this pretty appealing to use the 0.0% borrowing.

By: Karl Marx

Karl Marx — Sun, 05 Dec 2010 20:19:00 +0000

Dave: I always get 5% at gas stations no matter where I pay: at pump or attendant.

By: FrugalTrader

FrugalTrader — Sun, 05 Dec 2010 18:35:00 +0000

@Dave, I do not believe that is accurate. 90% of the time, I pay for gas at the attendent and I get the full 3%/5%.