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The MBNA True Line Mastercard offers Canada’s best 0% balance transfer for 12 months. See interest rates, fees, perks, and whether this no-fee card is right for you.
The MBNA True Line Mastercard is well-known for being a balance transfer credit card because it offers one of the best promotions in the country. In this review, we’ll look at the card’s features so you can get a good idea of whether or not you want this card in your wallet.
If you’re planning to transfer your credit card balance and pay down debt, the MBNA True Line Mastercard has the best promotion and terms of any balance transfer credit card.
Annual fee: $0
Balance transfer offer: Receive a 0% interest rate for 12 months on balance transfers completed within 90 days. (Offer not available for residents of Quebec.)
Card details
| Interest rates | 12.99% on purchases, 24.99% on cash advances, 17.99% on balance transfers |
| Income required | None specified |
| Credit score | 660 or higher |
The MBNA True Line Mastercard is most well-known for its balance transfer promotion, but before you apply, take a look at the card’s basics to see if it might be right for you.
| Earn rates | N/A—no rewards |
| Insurance included | 90-day purchase protection 1-year extended warranty |
| Special perks and features | No annual fee 0% promotional balance transfer for 12 months Low interest rate on purchases Can add up to nine authorized users for no additional fee MBNA Payment Plan allows you to pay in installments Rental car discounts |
| Fees | Foreign transaction fee: 2.5% |
| Minimum credit limit | Any amount |
| Supplementary card cost | $0 |
This Mastercard isn’t your only balance transfer credit card option. Weigh the card’s benefits against its drawbacks to help you narrow your choices.
Pros:
Cons:
We won’t sugarcoat it: the MBNA True Line Mastercard is primarily known for its balance transfer opportunities, not its (limited) perks and benefits.
If you’re making a $100+ purchase with your True Line Mastercard but don’t want to pay for it all at once, the MBNA Payment Plan allows you to split it into installments. This way, you can effectively budget for a modest monthly payment. Here are the three payment options:
Pay for an Avis or Budget rental car in Canada or the U.S. using your MBNA Mastercard and you’ll save a minimum of 10% off the base rate. If you rent a car internationally through Avis or Budget, you’ll save at least 5% off the base rate.
It’s always helpful to see what real cardholders have to say, so we turned to Reddit for insight.
Just note that the actual transfer fee is 3%.
We also like to check the financial strength of a card issuer, using third-party reviews. Here’s what we found:
We’ll leave you with this important reminder from one cardholder: always make your minimum payment or your promotional period will end.
MBNA offers a fantastic balance transfer credit card since you won’t pay interest on the transferred balance for 12 months. If you’re looking for cash back or strong insurance coverage, however, there are much better card options available.
Yes, TD Bank acquired MBNA in 2011, which effectively doubled TD’s number of active credit card accounts.
MBNA doesn’t specify what credit score you need, but your odds of approval are better with a score that’s 660 or higher.
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Would be a good card if we could use Tap or Pin feature !!!!
I got an MBNA card. And three weeks after ingot the card the interest rate changed. Which is allowed according to their all print. I would stay away. 12.99 will be 14.99 within a month.
Stay away from MBNA. This is the worst Credit card issuer. Customer service rudest, unkind anywhere on the planet. Approved for 5K limit Jan 10, used the card to purchase groceries and gas for about $1100. There were multiple duplicate charges which MBA told me to dispute with retailer instead of launching an investigation from their end. Even capital one take ownership of customer disputes on their own. Feb 1st noticed on my app my limit reduced to $1000 which below my balance. I was told Automatic system approval did not take consideration there was a no activity gap in my Transunion credit report therefore risk assessment reduced my limit. Sure, I was living in U.S for few years and no activity on my file but that was over three years ago. My Transunion file over 39 years old. trades still reporting as old as 21 yrs. For the past three years I have CIBC infinite Visa $19k limit, Scotia Busline Visa $45K limit, Amex Cobalt $21K limit. All accounts paid in full, no balance utilization below 5% any day. Score 769. Less than 6 inqs last 5 years. only 1inq within last 9 months. I canceled the card immediately.