MBNA Smart Cash® World Mastercard® Review

  • 4 min read

Why “collect” points when you can earn cash back? The MBNA Smart Cash® World Mastercard® is a great option for those looking for substantial rewards from a credit card. A sign-up bonus is offered, and clients have the opportunity to earn 5% cash back, within the first six months of the account opening, on grocery and gas purchases that meet eligibility requirements. It’s important to note that there is a monthly spending cap of $500 on this welcome offer.

After the initial six months have passed, MBNA Smart Cash World Mastercard clients collect 2% cash back on groceries and gas (with a monthly spending cap of $500), and 1% back on all other spending. The credit card has an annual fee of $39, but customers can add up to nine authorized users on the account for free. Added benefits include Purchase Assurance, Extended Warranty, Price Protection, Rental Vehicle Collision Damage Waiver, and clients are given a discount with both Avis and Budget rental car companies.

MBNA also offers a new payment plan with the card, which makes it easier for customers to pay for large-ticket items. The plan can help a client manage their budget in a more convenient way with this feature. Purchases must be $100 or over. Payment plan choices include six-, 12-, or 18- month options. The shorter the time frame of the plan, the lower the interest rate attached with repayment.

Interest rates on purchases for the MBNA Smart Cash World Mastercard are at 19.99%, balance transfers and access cheques are 22.99%, and cash advances are at 24.99%.

For clients who want a cash back rewards credit card without an annual fee, then the MBNA Smart Cash Platinum Plus® Mastercard® may be the way to go. As mentioned above, there’s no annual fee, and cardholders can add up to nine authorized users on the account, for free. While there are plenty of similarities between both the World and Platinum Plus Mastercards, there are some differences, too.

What’s the same and what’s different? The two credit cards share the same interest rates for balance transfers, access to cheques, and cash advances. Like the Smart Cash World Mastercard, the Smart Cash Platinum Plus provides MBNA’s new payment plan option, too. They also share the same sign-up bonus with 5% cash back within the first six months on purchases, with the $500 spending cap, and cardholders on both cards can earn 2% on grocery and gas purchases after the initial six months; however, the MBNA Smart Cash Platinum Plus Mastercard provides a slightly lower cash back reward when it comes to all other purchases. While MBNA’s Smart Cash World offers 1%, the Smart Cash Platinum offers a mere 0.5% in cash back rewards.

Noticeable differences between the cards also includes the “perks” linked to each Mastercard: the Smart Cash World offers Purchase Assurance, Extended Warranty, Price Protection, Rental Vehicle Collision Damage Waiver, and a discount with Avis and Budget. The Smart Cash Platinum Plus option offers only Purchase Assurance, Extended Warranty, and the Avis/Budget rental car discounts.

All World and World Elite Mastercard holders are offered Mastercard’s Concierge 24/7 service, which assists clients with booking, dining and theatre reservations, entertainment events, travel, and so much more. The service is complimentary and is touted as a “personal assistant” for cardholders. It handles the details of  booking anything from a flight, to a concert ticket, and hotel reservations. This feature is not offered to MBNA’s Smart Cash Platinum Plus Mastercard holders.

Lastly, there are differences in the application requirements for both Mastercards. The MBNA Smart Cash Platinum Plus version asks that applicants are Canadian and age of majority in their province before filling out an online application; the MBNA Smart Cash World Mastercard requires applicants also to have a personal income of $60,000+ or combined household income of over $100,000.

View more information on the MBNA Smart Cash Platinum Plus® Mastercard® or MBNA Smart Cash® World Mastercard®, or to apply for either of these credit cards.

Christopher - BSc, MBA

With over two decades of combined Big 5 Banking and Agency experience, Christopher launched Underbanked® to cut through the noise and complexity of financial information. Christopher has an MBA degree from McMaster University and BSc. from Western University in Canada.