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MBNA Rewards World Elite® Mastercard® vs American Express Platinum Card®: Which one is better?
MBNA Rewards World Elite® Mastercard®
5
American Express Platinum Card®
4.5
Finly Rebate
Finly Rebate
N/A
Rewards Breakdown
Annual Rewards
$657.62
MBNA Rewards
First Year Bonus
$300
MBNA Rewards
Annual Fee
$120
First Year Value
$837.62
$537.62 in years after
Based on $2,000/mo average spending. Calculate your rewards.
Rewards Breakdown
Annual Rewards
$581.26
American Express Membership Rewards
First Year Bonus
$0
American Express Membership Rewards
Annual Fee
$799
First Year Value
-$217.74
Based on $2,000/mo average spending. Calculate your rewards.
Insurance Included*
Lost or Stolen Baggage
$1000/person
Baggage Delay
$1000/person.svg)
Car Rental Damage & Theft
31 days
Travel Accident
$1,000,000
Extended Warranty
Up to a year
Purchase Protection
Up to 90 days
Emergency Out of province Medical
$2M for 21 daysFlight Delay
$500/person after 4 hours
Mobile Device Insurance
$1000
Insurance Included*
Lost or Stolen Baggage
$1,000Baggage Delay
$1,000Car Rental Damage & Theft
YesTravel Accident
$500,000Extended Warranty
1 yearPurchase Protection
120 daysEmergency Out of province Medical
15 daysFlight Delay
$1,000
Hotel Burglary Insurance
$1000
Trip Cancellation
$2,500
Trip Interruption
$2,500
Extra Benefits*
Trip and legal Assistance
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Concierge Services
Price Protection
$500/item, $1000/account per year
Car Rental Discount
10% off base rate of Avis Rent A Car and Budget Rent A Car in Canada and US and 5% internationally
Annual Birthday Bonus
10% of the Points earned the 12 months prior to the primary cardholder's birthday month (up to a max 15,000 bonus points per year)
Extra Benefits*
Trip and legal Assistance
Concierge Services
American Express® Experiences
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Status lift
Upgrade to Hilton Honors Gold StatusStatus lift
Upgrade to Marriott BonvoyTM Gold Elite status
Extra points
Earn 2 points on Amex Travel Online purchases and extra points on American Express offers.svg)
Travel Credit
$200
Dining Credit
$200 at Select Restaurants
Nexus Program Rebate
$100 statement credit every 4 years
Airport Lounge - American Express Global Lounge
Take full advantage of The American Express Global Lounge Collection™ which unlocks access to over 1,400 airport lounges worldwide. This includes The Centurion® Lounge network, Plaza Premium Lounges, and hundreds of other domestic and international lounges designed to enhance your travel experience.
Complimentary Hotel Benefits
Hotels booked American Express Travel
Priority Travel
At Toronto Pearson Airport get Priority Security lane, Complimentary valet and 15% discount at the Express Park and daily park
Interest Rates*
Purchase:
19.99%
Cash Advance:
24.99%
Balance Transfer:
22.99%
Interest Rates*
Purchase:
21.99% - 30%2
Cash Advance:
N/A2
Annual Fee*
$120
Annual Fee*
$799
Income Required*
Min Personal Income:
$80,000
Min Household Income:
$150,000
Income Required*
Min Personal Income:
N/A
Min Household Income:
N/A
Welcome Bonus*
10,000 bonus points†† for going Paperless. 20,000†† bonus points after spending $2,000 within 90 days of account opening. This offer is not available for residents of Quebec.
Welcome Bonus*
New Platinum® Cardmembers, earn 70,000 Welcome Bonus points after you charge $10,000 in net purchases to your Card in your first 3 months of Cardmembership. Plus, earn 30,000 points when you make a purchase between 14 and 17 months of Cardmembership.
Rewards Rate*
- Earn 5 points‡ for every $1 spent on eligible restaurant, grocery, digital media, membership, and household utility purchases until $50,000 is spent annually in the applicable category.
- 1 point‡ for every $1 on all other eligible purchases.
- Each year, you will receive Birthday Bonus Points‡ equal to 10% of the total number of Points the Account earned in the 12 months before the month of the primary cardholder's birthday, to a maximum Birthday Bonus each year of 15,000 Points.
Rewards Rate*
- 2x points per $1 spent on eligible dining & food delivery purchases (restaurant, fast food, coffee shop, food delivery)
- 2x points per $1 spent on eligible travel purchases (flights, hotels, tours and more)
- 1x point per $1 spent for all other purchases
Loyalty Program*
Loyalty Program*
Point Redemption Options*
Gift Cards
0.85¢ / point
Merchandise
0.8¢ / pointMost Optimal
Travel
1¢ / point
Statement Credits (Cash) - World Elite
0.83¢ / pointStatement Credits (Cash) - Platinum
0.5¢ / point
Point Redemption Options*
Gift Cards
0.765¢ / pointMerchandise
0.63¢ / pointMost Optimal
Transfer to Airline Partners
2.1¢ / pointFixed Point Travel Program
1.66¢ / pointTransfer to Hotel Partners
1.66¢ / pointStatement Credits (Cash)
1¢ / point
Amazon.ca
0.7¢ / point
Is this card worth it?
The MBNA Rewards World Elite® Mastercard® is one of the best reward credit cards in Canada, offering high rewards on frequently spent categories such as groceries and restaurant purchases. The annual birthday bonus, unique to this card, also provides a significant boost to your yearly earnings. Additionally, the card features a comprehensive list of benefits, including price protection—a rare and valuable perk not found with many other cards in Canada. These factors make this card one of the best to have in Canada.
Is this card worth it?
If you're a frequent traveler, the Platinum card is an excellent choice. It's highly recommended for its extensive travel benefits, including unlimited lounge access for you and a guest at the American Express Lounge collection, making it the best card for lounge access in Canada. The card also offers unique perks not commonly found with other Canadian cards, such as status upgrades at Marriott Bonvoy and Hilton, dining and travel credits, concierge service, airport benefits, Nexus application reimbursement, and more. These benefits can more than offset the annual fee. However, if you don't travel often or are mainly looking for a card that maximizes rewards, this card may not be the best option for you.
Pros
- Both restaurants and groceries, two of the most commonly spent categories, earn the most rewards.
- Great annual birthday bonus with up to $150 in value.
- A solid list of travel insurance and benefits.
- Price protection, a rare feature not offered by many other cards.
- Good value for many of the card's redemption options.
Pros
- Offers more perks than any other credit card in Canada, catering to premium users who value extensive benefits.
- Enjoy $400 in annual travel and dining credits, which can offset some of the card's cost.
- Gain unlimited access to over 1,400 airport lounges worldwide, enhancing your travel experience.
- Multiple options for redeeming points for high value, giving you flexibility in how you use your rewards.
- Includes 11 types of insurance coverage, offering comprehensive protection for cardholders.
Cons
- Trip cancellation and interruption insurance, two great benefits are missing from this card.
- Not the best card for gas purchases.
Cons
- As with other American Express cards, it may have lower acceptance in some locations compared to other networks.
- The high annual fee of $799 may be a barrier for some users, especially those who do not fully utilize the card's benefits.
- Some benefits are limited to specific airports and hotels.
vs American Express Cobalt® Card
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vs American Express® Aeroplan®* Card
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vs TD Aeroplan® Visa Infinite* Card
vs Rogers Red Mastercard®
vs Scotiabank Gold American Express® Card
vs Scotiabank Passport® Visa Infinite* Card
vs Rogers Red World Elite® Mastercard®
vs American Express Gold Rewards Card®
vs American Express® Green Card
vs SimplyCash™ Preferred Card from American Express
vs Scotia Momentum® Visa* Card
vs American Express® Aeroplan®* Card
vs American Express® Aeroplan®* Reserve Card
vs SimplyCash® Card from American Express
Legal
*††, ‡, ✪, ***, ††††, Terms and Conditions apply.
This offer is not available for residents of Quebec.
Sponsored advertising. MBNA is a division of The Toronto-Dominion Bank (TD) and TD is not responsible for the contents of this site including any editorials or reviews that may appear on this site. For complete information on this MBNA credit card, please click on the “Apply Now” button.
The Toronto-Dominion Bank is the issuer of this credit card. MBNA is a division of The Toronto-Dominion Bank. ®MBNA and other-trademarks are the property of The Toronto-Dominion Bank. Check here for full details and current product information.
**Terms and conditions apply.
This Charge Card requires full payment of the Due in Full balance each month, with a 30% interest rate on late payments. The Flexible Payment Option balance has a 21.99% interest rate, which increases to 25.99% after two missed payments and 28.99% after three or more within 12 months. A 21-day interest-free grace period applies to new transactions if the full balance is paid by the due date.
American Express is not responsible for maintaining or monitoring the accuracy of information on this website. If you apply and get approved for an American Express Card, (I/we) may receive compensation from American Express, which can be in the form of monetary payment. Check here for full details and current product information.
2 This Charge Card requires full payment of the Due in Full balance each month, with a 30% interest rate on late payments. The Flexible Payment Option balance has a 21.99% interest rate, which increases to 25.99% after two missed payments and 28.99% after three or more within 12 months. A 21-day interest-free grace period applies to new transactions if the full balance is paid by the due date.