MBNA Rewards World Elite® Mastercard®

MBNA Rewards World Elite® Mastercard®

Apply Now
BMO CashBack® World Elite® Mastercard®

BMO CashBack® World Elite® Mastercard®

Apply Now

MBNA Rewards World Elite® Mastercard® vs BMO CashBack® World Elite® Mastercard®: Which one is better?


MBNA Rewards World Elite® Mastercard®

MBNA Rewards World Elite® Mastercard®

4.7


RECOMMENDED CREDIT SCORE

300
Poor
560
Fair
660
Good
725
Very Good
760
Excellent

BMO CashBack® World Elite® Mastercard®

BMO CashBack® World Elite® Mastercard®

4.2


RECOMMENDED CREDIT SCORE

300
Poor
560
Fair
660
Good
725
Very Good
760
Excellent

Rewards Breakdown

Annual Rewards

$597.84

MBNA Rewards


First Year Bonus

$300

MBNA Rewards


Annual Fee

$120


First Year Value

$777.84

$477.84 in years after

Based on $2,000/mo average spending. Calculate your rewards.

Rewards Breakdown

Annual Rewards

$500.78


First Year Bonus

$190


Annual Fee

$120


First Year Value

$690.78

$380.78 in years after

Based on $2,000/mo average spending. Calculate your rewards.

Insurance Included

  • lost baggage

    Lost or Stolen Baggage

    $1000/person
  • hourglass timer

    Baggage Delay

    $1000/person
  • car insurance

    Car Rental Damage & Theft

    31 days
  • heart lock

    Travel Accident

    $1,000,000
  • extended warranty

    Extended Warranty

    Up to a year
  • purchase protection

    Purchase Protection

    Up to 90 days
  • travel accident medical

    Emergency Out of province Medical

    $2M for 21 days
  • hourglass timer

    Flight Delay

    $500/person after 4 hours

  • mobile device insurance

    Mobile Device Insurance

    $1000

Insurance Included

  • lost baggage

    Lost or Stolen Baggage

    $500/person, $1000 maximum
  • hourglass timer

    Baggage Delay

    $500/person, $1000 maximum After 6 hours
  • car insurance

    Car Rental Damage & Theft

    $65,000 up to 48 days
  • heart lock

    Travel Accident

    $500,000
  • extended warranty

    Extended Warranty

    Up to a year
  • purchase protection

    Purchase Protection

    90 days
  • travel accident medical

    Emergency Out of province Medical

    $5M up to 8 days per covered person
  • hourglass timer

    Flight Delay

    $500 After 4 hours delay

  • burglar

    Hotel Burglary Insurance

    $1000

Extra Benefits

  • car rental

    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

    Price Protection

    $500/item, $1000/account per year
  • gavel

    Trip and legal Assistance

  • birthday cake

    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)
  • concierge

    Concierge Services

Extra Benefits

  • car rental

    Car Rental Discount

    25% off base rate of participating National Car Rental and Alamo Rent a Car

  • alcohol cheers

    Airport Lounge - Dragon Pass

    Pass only, complimentary visits not included
  • gas station

    Gas Discount

    Get up to seven cents off per litre on Shell® fuel
  • tire

    Roadside Assistance

    Includes free battery boosts, flat-tire change, lockout service and towing
  • discount

    Hotel Booking Discount

    Save up to 7% on your Booking.com prepaid hotel or property rental bookings
  • wifi signal

    Boingo Wi-Fi hotspot

Interest Rates

Purchase:

19.99%

Cash Advance:

24.99%

Interest Rates

Purchase:

20.99%

Cash Advance:

23.99%

Annual Fee

$120

Annual Fee

$120

$0

First Year Waived

Income Required

Min Personal Income:

$80,000

Min Household Income:

$150,000

Income Required

Min Personal Income:

$80,000

Min Household Income:

$150,000

Welcome Bonus

10,000 points for going Paperless. 20,000 points after spending $2,000 after 90 days of account opening

Welcome Bonus

Get up to 10% cash back in your first 3 months with an incremental cashback value of $200

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

  • 5% cashback on groceries (maximum $25 per statement)
  • 4% cashback on daily transit (maximum $12 per statement)
  • 3% cashback on gas (maximum $9 per statement)
  • 2% cashback on recurring payments (maximum $10 per statement)
  • 1% cashback on all other credit card purchases.

Loyalty Program

Loyalty Program

N/A

Point Redemption Options

  • Most Optimal

    travel - plane

    Travel

    1¢ / point
  • gift card

    Gift Cards

    0.85¢ / point
  • cash coins

    Statement Credits (Cash) - World Elite

    0.83¢ / point
  • online shop

    Merchandise

    0.8¢ / point
  • cash coins

    Statement Credits (Cash) - Platinum

    0.5¢ / point

Point Redemption Options

Not Applicable

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 seeking a cashback credit card, the BMO CashBack® World Elite® Mastercard® stands out for its excellent balance between rewards and benefits. It offers a robust rewards program and a comprehensive benefits list, making it a solid choice. The high first-year value is enhanced by the annual fee waiver, and those with a BMO Premium Chequing Account can enjoy continued fee waivers. While it's highly ranked for rewards alone, it may not be the absolute top choice if benefits are less important to 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 one of the highest cashbacks on groceries and gas, two of the most frequently spent categories, compared to other credit cards in Canada.
  • Includes roadside assistance, a rare but valuable benefit for people on the road.
  • Provides a comprehensive list of insurance coverage and benefits.
  • High first-year value.

Cons

  • Trip cancellation and interruption insurance, two great benefits are missing from this card.
  • Not the best card for gas purchases.

Cons

  • Does not include restaurant purchases as a reward category, which is one of the most important spending categories.

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