MBNA Canada (Credit) Cards

By: EconomyWatch   Date: 6 October 2010

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EconomyWatch

The core Content Team our economy, industry, investing and personal finance reference articles.

EconomyWatch, Content Team

 

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MBNA Cards Canada are issued by MBNA Canada Bank, Canada’s largest MasterCard issuer. MBNA Canada Credit Cards are known for their low interest rates, flexible payment options and round-the-clock customer services.

MBNA America Bank: History and Present

MBNA was founded by Charles Cawley in 1982 as the credit cards subsidiary of MNC Financial Group. It went public in 1991 andwas renamed MBNA Corporation, with its headquarters in Washington. This parent company of MBNA America Bank was acquired in 2005 by the Bank of America, leading to the creation of MBNA America Bank.

MBNA Canada Credit Cards: Popular Cards and Their Exclusive Features

The most popular MBNA Canada Credit Cards include:

 

MBNA Shoppers Optimum MasterCard:

  • Inaugural annual percentage rate of 1.99% on balance transfer and check-based cash advances for a period of six months.
  • No annual fee.
  • Applicants with annual income of more than $35,000 are eligible to apply.

MBNA Platinum Plus MasterCard:

  • Introductory interest rate of 1.99% for the first six months.
  • Standard interest rate of 17.99% on purchases and 19.99% on cash advances and balance transfers.
  • Emergency card replacement.
  • Extended warranty benefits.
  • Extended credit limit of up to $100,000.

MBNA Gold MasterCard:

  • Introductory interest rate of 3.9% for the first four months.
  • Interest rate of PlatinumPlus applicable after first four months of issue.

MBNA WorldPoints MasterCard:

  • Annual fee of $29.

  • Interest rate of 19.9% on balance transfers, cash advances and purchase rates.

  • Card holders get one WorldPoint for every purchase transaction worth $1. Bonus of 1000 WorldPoints is awarded on first purchase. These points can be redeemed for travel packages, merchandise and gift coupons.

MBNA Canada Credit Cards: Application Requirement

To apply for the MBNA Cards Canada, an applicant must be:

  • A Canadian resident with Canadian credit file.
  • A major as per the jurisdiction of his area of residence.
  • Clear of delinquent accounts or bankruptcies.

‘MBNA Credit Cards’ and ‘MBNA Canada Bank’ are trademarks of MBNA America Bank, who can be found at www.bankofamerica.com

Further Resources

 


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