MBNA Rewards World Elite® Mastercard® vs American Express Platinum Card®: Which one is better?
MBNA Rewards World Elite® Mastercard®
4.7
RECOMMENDED CREDIT SCORE
American Express Platinum Card®
4
RECOMMENDED CREDIT SCORE*
Rewards Breakdown
Annual Rewards
$587.52
MBNA Rewards
Welcome Bonus
$300
MBNA Rewards
Annual Fee
$120
First Year Value
$767.52
$467.52 in years after
Based on $2,000/mo average spending. Calculate your rewards.
Rewards Breakdown
Annual Rewards
$570.43
American Express Membership Rewards
Welcome Bonus
$0
American Express Membership Rewards
Annual Fee
$799
First Year Value
-$228.57
Based on $2,000/mo average spending. Calculate your rewards.
Insurance Included
Purchase Protection
Up to 90 days
Extended Warranty
Up to a year.svg)
Car Rental Damage & Theft
31 days
Flight Delay
$500/person after 4 hours
Travel Accident
$1,000,000
Emergency Out of province Medical
$2M for 21 days
Lost or Stolen Baggage
$1000/person
Baggage Delay
$1000/person
Mobile Device Insurance
$1000
Insurance Included*
Purchase Protection
Up to 90 daysExtended Warranty
Up to a yearCar Rental Damage & Theft
31 daysFlight Delay
$500/person after 4 hoursTravel Accident
$1,000,000Emergency Out of province Medical
$2M for 21 daysLost or Stolen Baggage
$1000/personBaggage Delay
$1000/person
Trip Cancellation
$2500 per person, $5000 combined
Trip Interruption
$2500 per person, $6000 combined
Hotel Burglary Insurance
$1000
Extra Benefits
Trip and legal Assistance
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Concierge Services
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)
Car Rental Discount
10% off base rate of Avis Rent A Car and Budget Rent A Car in Canada and US and 5% internationally
Price Protection
$500/item, $1000/account per year
Extra Benefits*
Trip and legal Assistance
Concierge Services
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Travel Credit
$200
Dining Credit
$200 at Select Restaurants
Nexus Application
$100 statement credit every 4 years
Airport Lounge - American Express Global Lounge
Unlimited Access for you and a Guest!
Complimentary Hotel Benefits
Hotels booked American Express Travel.svg)
Status lift
Upgrade to Hilton Honors Gold StatusStatus lift
Upgrade to Marriott BonvoyTM Gold Elite status
Airport Benefits
At Toronto Pearson Airport get Priority Security lane, Complimentary valet and 15% discount at the Express Park and daily park
American Express Experiences
Extra points
Earn 2 points on Amex Travel Online purchases and extra points on American Express offers
Interest Rates
Purchase:
19.99%
Cash Advance:
24.99%
Interest Rates*
Purchase:
21.99% - 30%2
Cash Advance:
21.99% - 30%2
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 points for going Paperless. 20,000 points after spending $2,000 after 90 days of account opening
Welcome Bonus*
Earn 70,000 points after spending $10,000 on your Card within the first 3 months as a new Platinum® Cardmember. Earn an additional 30,000 points when you make a purchase between 14 and 17 months of Cardmembership. Current or former Cardmembers with this Card are not eligible for these offers. Other terms apply.
Rewards Rate
- 5 points on restaurant, grocery, digital media, membership, and household utility purchases (maximum $50,000 spend annually per category)
- 1 point for everything else
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 - World Elite
0.83¢ / pointStatement Credits - Platinum
0.5¢ / point
Point Redemption Options*
Gift Cards
0.85¢ / pointMerchandise
0.8¢ / pointMost Optimal
Transfer to Airline Partners
2.1¢ / point.svg)
Fixed Point Travel Program
1.66¢ / point
Transfer to Hotel Partners
1.66¢ / pointStatement Credits
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 decent 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 1,300 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.
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