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).
Update – MBNA World Points Credit Card has been replaced by MBNA REwards World Elite Mastercard.
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.
Related: Compare MBNA to BMO World Elite Mastercard
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?