MBNA Smart Cash Platinum Plus MasterCard: No Annual Fee, 3% Cash Back on Gas/Grocery, 1% On Other

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November 26, 2011 Update: With the news in August that TD bought MBNA Canada, we can't be certain how much longer the Smart Cash Platinum Plus MasterCard will be available. To date, it remains one of the best no-fee cashback credit cards on the market, and it's very much worth a look if you don't have one. It could definitely come in handy during the holiday season, too!

Originally posted September 24, 2009: Still looking for the right credit card? MBNA has put an impressive credit card offer online. The MBNA Smart Cash Platinum Plus Mastercard is a no annual fee card with some pretty robust cash back rewards. Here are the details:

Get 5% cash back on net gas and grocery purchases for the first 6 months (up to spending $600 per month, 1% thereafter)
Get 3% cash back on net gas and grocery purchases thereafter (up to spending $600 per month, 1% thereafter)
Get 1% cash back for all other net retail purchases
1.99% introductory annual interest rate on balance transfers and cheque cash advances for 10 months
No annual fee

As a platinum card, it also carries the the normal platinum benefits -- a warranty extension of up to one additional year on most new purchases and free car rental insurance when renting vehicles. In terms of application restrictions, you do need to have a minimum income of total household income of $35,000 or greater. Overall, it's a very strong credit card offer. If you want to see how it stacks up to the competition, use the RedFlagDeals.com's Canadian Credit Card Comparison page or you can compare it against other MBNA Credit Cards here.

Get this deal

Source:

Source: contact via the Hot Deals Forum

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- djino
- Repost (from April 5th)
  
  http://www.redflagdeals.com/forums/s...d.php?t=722828
- ^gUrU
- And from this morning when it was posted twice: http://www.redflagdeals.com/forums/s...d.php?t=793667
- el_diablo007
- Just applied. Thanks!
  
  Didn't realize this card was open to the public.
- 3ntreri
- I recently closed my MBNA accounts and got a retention offer in the mail:
  
  Platinum Mastercard w/ 1% cash back, 7.99% interest, travel insurance, car rental insurance, etc. and no annual fee.
  
  The 7.99% interest is not time-limited, but they reserve the right to change it w/ 30 days notice at a later date.
  
  It's very tempting, but I haven't decided if I want it yet.
- cheap_guy
- I recently closed my MBNA accounts and got a retention offer in the mail:
  
  Platinum Mastercard w/ 1% cash back, 7.99% interest, travel insurance, car rental insurance, etc. and no annual fee.
  
  The 7.99% interest is not time-limited, but they reserve the right to change it w/ 30 days notice at a later date.
  
  It's very tempting, but I haven't decided if I want it yet.
  Isn't that the regular premier rewards card, just with a promotional interest rate?
- Skyride39
- this looks like the best cash back rewards card out there. no annual fee (unlike scotia's visa momentum card). I have a premier rewards card that credits back to the m/c the 1% earned in January of the next year. I assume it's the same for this card as well (unlike citi's enrich card which sends you a cheque in January of the next year).
- pnyknights
- Funny how lots of people were getting responses from the CSR saying the card wasn't offered anymore recently...and now it's finally on the website...
  
  ibtl?
- nichols
- Nice thing is you do not need to do anything to get your reward, as soon as it hits 50 bucks they send you a check
- freshdot
- Watch out for MBNA's Bait-and-Switch scam
  
  After years of paying large amount of interests (18%) to them... I decided to pay in full. I thought to myself, I will save this card for big ticket items later...
  
  Then, ONE day after I paid my balance in FULL, they closed my account. Citing that I had a bad standing or some sort (apparently I was late once or twice for minimum payments in those years). I moved once and might've sent in the payment late.
  
  But the real frustration is that they ALSO cancelled my travel reward points... accumulated over couple of years, enough to give me free travel to other side of the world...
  
  After being bounced back and forth, back and forth, and more between CC representative and Reward representative... finally wrote to BBB and got someone from MBNA to talk to me.
  
  Then she came back after couple of weeks with a scripted sentence: "We are unable to proceed. Your contract will show that we have right to terminate your account any time if we don't see fit" (para-phrasing, I was very frustrated, but kept my anger down and politely said ok...)
  
  What is wrong with MBNA? After giving them interest money for years AND THEN paying the balance in FULL... MBNA pays you back by cancelling your account then reward point is automatically gone as well...
  
  I never been screwed this bad by a company... glad it's just a crappy MBNA credit card..... but my trip to Asia is gone...
  
  Frustrated MBNA ex-customer...
- nichols
- I just use mine at gas stations and grocery stores and now that the 5% rebate period is gone they still give 3% for gas and grocery stores but they also give bonus points which still makes it about 5 % rebate. Best return on a credit card that I know of, especially no fee cards. Terrific about sending the $50 checks for the rebate as soon as you qualified.. They are now owned by TD in Canada.
- ZeeTX
- What happens if someone decide to close the Credit card before hitting the $50 mark in cash back..? All lost?
- ZeeTX
- How is this card compared to the Capital One cards.. Aspire Cash Platinum Mastercard & Aspire Cash World Mastercard..??
- bjornbutton
- All cards mentioned in the comments are great credit cards. I would make sure that the card you choose has basic insurance in case of a stolen or lost card. Some cards automatically have insurance options, and some cost a monthly fee. Find out before you sign up.