FinlyWealth

Optimize Credit Cards

Brokerages & Banks

Travel

Shop

Earn Cash Back

Blog

Refer & Earn 25%

MBNA Rewards World Elite® Mastercard®

Apply Now

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®

4.7

Apply Now More Details

RECOMMENDED CREDIT SCORE

300

Poor

560

Fair

660

Good

725

Very Good

760

Excellent

Get your free credit score

BMO CashBack® World Elite® Mastercard®

4.2

Apply Now More Details

RECOMMENDED CREDIT SCORE

300

Poor

560

Fair

660

Good

725

Very Good

760

Excellent

Get your free credit score

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 or Stolen Baggage

$1000/person

Baggage Delay

$1000/person

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 days

Flight Delay

$500/person after 4 hours

Mobile Device Insurance

$1000

Insurance Included

Lost or Stolen Baggage

$500/person, $1000 maximum

Baggage Delay

$500/person, $1000 maximum After 6 hours

Car Rental Damage & Theft

$65,000 up to 48 days

Travel Accident

$500,000

Extended Warranty

Up to a year

Purchase Protection

90 days

Emergency Out of province Medical

$5M up to 8 days per covered person

Flight Delay

$500 After 4 hours delay

Hotel Burglary Insurance

$1000

Extra Benefits

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

Trip and legal Assistance

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 Services

Extra Benefits

Car Rental Discount

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

Airport Lounge - Dragon Pass

Pass only, complimentary visits not included

Gas Discount

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

Roadside Assistance

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

Hotel Booking Discount

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

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

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

MBNA Rewards

Loyalty Program

N/A

Point Redemption Options

Most Optimal

Travel

1¢ / point

Gift Cards

0.85¢ / point

Statement Credits (Cash) - World Elite

0.83¢ / point

Merchandise

0.8¢ / point

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