True Line® Mastercard® Credit Card Review

  • 4 min read

The last thing anyone wants to do is accumulate credit card debt, but at times, even the most frugal and financially responsible credit cardholders find themselves with high monthly balances due to unforeseeable expenses and circumstances, or emergencies. This is where a low-interest rate card can help. Unlike rewards or cash-back options, low-interest rate credit cards offer a solution to help pay down balances thanks to the low APR rates attached to them. 

True Line® Mastercard® credit card and True Line® Gold Mastercard® credit card are both excellent credit cards for someone looking to transfer large balances from another card to help pay down their credit card debt more quickly.

True Line® Mastercard® credit card

The MBNA True Line Mastercard charges 12.99% for purchases and balance transfers, which is approximately 7 to 12 percent lower than the average credit card interest rate. This is an ideal credit card option for clients looking to pay down credit card debt, as transferring balances over to a True Line Mastercard could help decrease debt that much faster, thanks to the lower interest rate. Payments made decrease the balance of the principal amount owed, versus it going to the interest rate accumulated.

Alternatively, clients can also purchase big-ticket items with peace of mind in knowing they won’t have out-of-control interest rates attached to the balance, making it easier to pay off down the road.

Another benefit to the True Line Mastercard is that it has no annual fee: therefore, signing up and keeping the credit card to the side as a “back up” plan (just in case it is needed in the future), is a great game plan.

With all that said, there are some minor drawbacks to the True Line. First off, as it is a low-interest rate card, there are no frills, major benefits, or “rewards” attached to the account as the strength of this Mastercard option is to save money with the low-interest rate provided, plus no annual fee. It’s important to note that while purchase and balance transfer rates are set at 12.99%, cash advances have an APR of 24.99%.

View more information about the True Line® Mastercard® credit card.

True Line® Gold Mastercard® credit card

A level up within the MBNA True Line Mastercard collection is their True Line® Gold Mastercard® credit card.

With an incredibly low 8.99% interest rate on balance transfers and purchases, it also offers clients added perks like car rental discounts at participating Budget and Avis locations, 24/7 emergency support, Zero Liability coverage, Extended Warranty, and Purchase Protection, plus trip assistance coverage. It’s important to note that much like the standard True Line Mastercard, the Gold offers an APR of 24.99% on cash advances, plus, it also has a yearly fee of $39 attached to it.

While MBNA’s True Line Mastercard and Gold Mastercard offer solid options for customers who seek a low-interest rate credit card, they aren’t the only ones available on the market.

The American Express Essential provides clients a low purchase and funds advances interest rate of 12.99%.  With no annual fee linked to the card, it also provides overall better insurance coverage, as well as all the “world-class” perked linked to being an American Express cardholder. Remember, AMEX membership does have it privileges, including their “Front of the Line” program when it comes to live event and concert tickets. 

RBC RateAdvantage Visa is another low-interest credit card to consider. With no annual fee, clients are charged Prime plus 4.99% to 8.99%, depending on a client’s credit rating. The better the credit score, the lower the rate. While there is no “bonus” offer with this card, customers do gain access to a gas savings of $0.03 per liter at Petro-Canada, as well as added promotions and discounts at The Source, Roots, and Indigo.ca, and other partners via RBC Offers.

Another option is the Scotia Value Visa. Much like the True Line Mastercard and Gold Mastercard, it offers a fixed 12.99% interest rate, but also provides new cardholders with a “welcome offer” of 0.99% for the first six months on balance transfers. While there is an annual fee of $29 with Scotia’s Value Visa, clients also gain access to added benefits like up to 25% off Budget Rent-A-Car or Avis Rent-A-Car at participating locations.

Visit to learn more about the True Line® Mastercard® credit card or True Line® Gold Mastercard® credit card or to apply for either credit card.

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.