MBNA True Line® Mastercard® Credit Card Review

(Editor Rating)

Ranking

8.6/10

With no annual fee and a low interest rate on purchases, the MBNA True Line® Mastercard® is a boon for credit-conscious consumers. Find out what makes it one of the best low interest credit cards in Canada.

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Annual Fee

10/10

Cardholder Perks

6/10

Interest Rate

10/10



Best for:

 

  • No annual fee
  • Low annual interest rate on purchases

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About the MBNA True Line® Mastercard® credit card

If you’re looking to stay true to your budget and keep your bottom line in check, it’s worth taking a look at the MBNA True Line® Mastercard® credit card. This relative newbie to Canada’s credit card landscape offers attractive features like an ultra-low annual interest rate on purchases and no annual fee. While some Canadians were disappointed when MBNA decided to discontinue its popular Platinum Plus card, the MBNA True Line® Mastercard® credit card appears to be a winning replacement.

The MBNA True Line® Mastercard® Credit Card: At a Glance
Annual Fee:$0
Qualifying Income: None
Recommended Credit Score: Fair to Good
Annual Interest Rate on Purchases: 12.99%
Interest on Balance Transfers & Access Cheques:12.99%
Interest on Cash Advances:24.99%

*This offer is not available for residents of Quebec.

Card Features & Benefits

This card has a lot going for it. Check out some of the selling features:

  • No annual fee
  • A low 12.99% standard annual interest rate on purchases
  • A low 12.99% interest rate on balance transfers and access cheques.

Other Perks

Other card features include:

  • 24/7 customer services like emergency card replacement
  • Trip Assistance, which offers lost document and ticket replacement support, lost luggage assistance and pre-trip information
  • Zero liability if your card is subject to unauthorized use
  • Save a minimum of 10% with Avis Rent A Car and Budget Rent A Car on qualifying car rentals when you charge the full value of your rental vehicle to your MBNA True Line® Mastercard® credit card.
  • Add up to 9 authorized users without any additional annual fees

Pros and Cons

For those looking to reduce their debt load, MBNA True Line® Mastercard® credit card is a great option. It comes with a very low standard annual interest rate on purchases and balance transfers of 12.99% — that’s one of the lowest in Canada. It’s appealing for cardholders who might carry a balance, especially since this card doesn’t charge an annual fee.

There are a few perks included with this card, such as the discount at select rental car companies, zero liability insurance, and trip assistance.

On the downside, just be aware that the interest rate on cash advances is a whopping 24.99%. Also, this card doesn’t offer any rewards or points-earning potential. If that’s a deal breaker, look into getting one of the best travel rewards credit cards in Canada or one of the best cash back credit cards in Canada instead.

Pros

  • No annual fee
  • Low annual interest rate on purchases
  • Includes zero liability insurance
  • 10% discount on eligible car rentals at AVIS and Budget

Cons

  • No rewards
  • Limited perks

The Verdict: Should You Get the MBNA True Line Mastercard Credit Card?

This card is ideal for anyone who tends to carry a credit balance. The low 12.99% interest rate on purchases and balance transfers gives you flexibility should you need to carry a balance, as well as breathing room to pay off your credit card debt. With no annual fee, signing up for the MBNA True Line® Mastercard® credit card is a no brainer. Just use it wisely and don’t accrue any unmanageable debt.

*This offer is not available for residents of Quebec.

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