MBNA WorldPoints World Credit Card Review

The MBNA World Points World Credit Card replaced the MBNA Travel Rewards Elite Card which replaced the MNBA SPG Rewards Mastercard.  As an MBNA mastercard holder since 2006 I’m surprised by the amount of change that MBNA has gone through (and my reward points).

The Travel Rewards Elite mastercard had a different point structure where you accumulate X number of points for a airline ticket to a certain region of the world.  Since TD Bank bought out the MBNA credit card program in late 2011, they grandfathered most MBNA Travel Rewards Elite cardmembers to the new MBNA WorldPoints World Credit card.  They also kindly doubled the points in your existing Travel Rewards Elite as a consolation gesture, I suppose.  Which is nice despite them getting rid of the beautiful airline grid redemption system (I was hoping that grid would take me to Africa for my Mt Kilimanjaro adventure).

The MBNA WorldPoints World Credit card normally costs $89 on an annual basis but it is free for existing MBNA SPG Reward credit card holders.  It’s interesting because you can’t find details of the Worldpoints World master card on the actual MBNA website anymore.  The only one they advertise is the MBNA Rewards card which has no annual fee but is a 1 point per 1 dollar points program.

The Stats on the MBNA WorldPoints World Credit Card:

  • 2 Points for every $1 spent (on anything)
  • 10,000 Points sign up Bonus (the Travel Rewards card grandfathered into the MBNA World Points credit card- note the lack of the extra “world” and did not give you the bonus points)
  • It’s pretty elitist, you need $120,000 household income or $70,000 personal income to qualify for this
  • Otherwise, as long as you have an annual spend of at least $20,000, you will also qualify
  • To redeem your points, you need to redeem them in 5000 point increments and you can get cash back via cheque, electronic fund transfer, and of course as a credit to your credit card account.
  • You can even redeem your points yourself through their online rewards centre- no need to wait to talk to a customer service representative
  • 5000 points gives you $50 in cash, so for every 10,000 points you get $100.
  • Basically this credit card has become a cashback credit card because although you can book through their travel agency, the benefits to doing this are pretty much nil.
  • Premium Concierge Services (though I doubt I will ever use this)
  • Price Protection (If you find a cheaper price after you buy something, then you are protected for the difference!)

Also, if you’re into credit card esthetics (and nothing will ever replace how pretty that SPG Credit card, looked, nothing!) the MBNA Worldpoints World credit card is prettier than the juvenile and ugly matte white-grey of the TravelRewards Elite MBNA credit card.  It’s simple but at least doesn’t look like you fished it out of the dumpster.

With the doubling of the points and the 10,000 bonus, I was able to get a free $700 towards a flight (or really, towards my credit card bill).  Since that trip earlier this year, I have accumulated another $200+ worth in points, so this credit card is not too shabby at all.

I am uncertain of what the future holds for MBNA once TD completes its acquisition, hopefully if they are changing the credit card again it won’t be too much of a downgrade.  Only time will tell…!  I’ve been through three different changes so hopefully the next one wont’ be too much of a surprise.

I am disappointed that this card has essentially become a cash back credit card (because I am a travel rewards points girl at heart), but I will continue pretending that this is a travel rewards card (because they say it is so) anyway.  As long as it remains a no-fee credit card with a reasonable points of cash back program, I’ll be satisfied.

Readers, do you have the MBNA WorldPoints world mastercard? You can sign up here to get one. What are your thoughts?

About

Young is a writer and former owner of Young and Thrifty and the main "twitter' behind Young and Thrifty's twitter account. She lives in Vancouver, BC and enjoys long walks on the beach, spending time with her anxious dog, and finding good deals. If you like what you read, consider signing up for email updates.

8 Responses to MBNA WorldPoints World Credit Card Review

  1. Joe says:

    “5000 points gives you $50 in cash, so for every 10,000 points you get $100.”

    Each point is worth $0.01, so you get 2% on the dollar in cash. MBNA SmartCash pays 3% on gas/groceries where the majority of my spend is.

    Although I would consider signing up and cashing out the 10,000 reward points for $100. If my non-gas and grocery purchases were anything but minimal (I get 1% on these from MBNA anyway), I’d consider getting a card like this one, or the card from Capital One.

    • young says:

      @Joe- yeah, the MBNA Smart Cash is pretty attractive. It’s by far (though I don’t have it) the best credit card from MBNA, now that this WorldPoints World card has essentially become a cash back card.

  2. SavingMentor says:

    I’m another person who started with the MBNA Starwood Preferred Guest MasterCard (my all time favourite credit card – so many free trips!) and was slowly transitioned to this one like you!

    This is one of the best credit cards available to Canadians personally. I think to get it you have to apply for the regular MBNA Rewards card and then ask to be upgraded to this one. You could also call them directly and ask for it by name. Unfortunately, the $89 annual fee should apply for new subscribers.

    I use this card as my primary card for regular spending combined with the MBNA Smart Cash for all my gas and grocery purchases. I have a no-fee Amex Air Miles card for purchases made at Costco to round things out.

    I also have the Capital One Aspire Travel World that I use for travel purchases and other purchases where I want the best warranty coverage. I debate cancelling that card on a regular basis, but since the insurance is so good and the annual fee is mostly paid for by the annual bonus, I still keep it.

    • young says:

      @SM- I’m glad you agree that this is one of the best cards ever! I hear that Capital One Aspire is so good, I don’t have it so sometimes I feel like I’m missing out. I know you do your research so hearing that it’s not all that and a bag of chips makes me feel good :)

      My alltime favourite card was the SPG mastercard as well. It was the best card, hands down. I still miss it. It even looked so good and suave in my wallet.

  3. Jennifer says:

    Checked with MBNA and they say that it’s now 1 point per $1 (or 1%) which is slightly below par for rewards cards :(

  4. J7 says:

    I just received the same rewards card today in the mail. I must say I loathe the design! the size of the font and lower case is so ugly! Maybe if they didn’t add that two tone it would look cleaner.The hologram should of been on the front! I still like my platinum card, it is simple clean and minimal looking! One of the CS rep was nice enough to suggest the benefits of this card to me, so I’m thankful they have nice staff that actually cares! But there is no excuse for bad taste and bad design!

    Just to follow up on the previous comment, it is now 1 point per $1. I haven’t activated the card yet, I’m still thinking how visually offensive it is and if I really want to be seen with it. I have no doubt some tacky Canadian designed it as the card is owned by TD bank!

    • Young says:

      @J7- Hahahahaha. It’s this ugly grey card. What colour is yours? Really? I wasn’t awre of the change from 2 points per $1 to 1 point per $1. Need to investigate that more. It seems like I am getting plenty of points though. There’s a difference between Worldpoints and worldpoints WORLD….? Do you have the WP or WPW?

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