MBNA True Line® Mastercard® Review

About the MBNA True Line® Mastercard®

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 a generous introductory balance transfer interest rate, a 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® 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 Cash Advances: 24.99% | Interest on Balance Transfers & Access Cheques: 12.99%
Welcome Offer: Get a 0% promotional annual interest rate on balance transfers for the first 10 months, for transfers completed within 90 days of account opening. A 3% fee applies (minimum fee of $7.50 CAD).

*This offer is not available for residents of Quebec. For Quebec residents, please click here.

Card Features & Benefits

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

• No annual fee
• A 0% promotional annual interest rate on balance transfers for the first 10 months, for transfers completed within 90 days of account opening. A 3% fee applies (minimum fee of $7.50 CAD).
• A low 12.99% standard annual interest rate on purchases
• A low 12.99% interest rate on balance transfers and access cheques. This means after the welcome offer expires, any outstanding balance transfer amount will incur interest at 12.99% – which is an incredible rate.

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®.
• Add up to 9 authorized users without any additional annual fees

How the MBNA Balance Transfer Offer Works

The MBNA True Line® Mastercard® credit card ranks as one of the best balance transfers cards in Canada thanks to its outstanding promotional offer. Right now, new cardholders can enjoy a 0% promotional annual interest rate on balance transfers for their first 10 months of card ownership. Transfers must be completed within 90 of opening your credit card, and a 3% fee applies (with a minimum fee of $7.50). Once the promotional period ends, the interest rate increases to 12.99%. Furthermore, the total amount of your balance transfers cannot be greater than your card’s authorized credit limit.

What makes this welcome offer so special is not only the opportunity to take advantage of a generous 10-month period of 0% interest rate but also that your interest rate only rises to 12.99% once the promo ends. As mentioned before, that interest rate is among the lowest standard rates available compared to the best Canadian credit cards.

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Pros and Cons

For those looking to reduce their debt load, MBNA True Line® Mastercard® credit card is a great option. The most notable perk is its welcome offer to transfer a balance from a higher interest rate account (more on that below) and take advantage of the 0% promotional annual interest rate on this card. As already mentioned, it also comes with a very low standard annual interest rate on purchases of 12.99% — that’s one of the lowest in Canada. Those are some very appealing benefits for a card that doesn’t charge an annual fee.

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.

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

This card is ideal for anyone who is carrying a credit balance on other credit cards. The limited-time 0% promotional balance transfer interest rate gives you a year of breathing room to pay off your credit card debt and get your finances under control. It’ll save you loads of interest! Adding to the allure is a low standard interest rate of 12.99% on purchases and balance transfers, which will make it much easier for you to ensure any remaining credit card debt doesn’t skyrocket and become unmanageable. With no annual fee, applying for the MBNA True Line® Mastercard® is a no brainer.

If your credit score and bank account have taken a dip because you carry a lot of debt, the MBNA True Line® Mastercard® could be an unparalleled opportunity to get your financial house in order. Just use it wisely and don’t accrue any additional debt, and you’ll be back in the black before you know it.