Finances & Real Estate MBNA Smart Cash Platinum Plus Mastercard Credit Card

This is probably the best rewards card without an annual fee that you can get currently. The best thing is that students are eligible, they waive any income requirements if you apply as a student.

You get 5% cashback on grocery and gas purchases for the first six month, then it defaults to 3%.

You get 1% cashback on any other purchases.

You get a cheque in the mail once you reach a $50 cashback threshold, so you don't have to wait a year to get your money. A good trick is to purchase giftcards at a grocery store such as Superstore or Safeway, this allows you to get the 5%/3% on other purchases like clothing, starbucks, movies, etc.

Apply here: https://wwwa.applyonlinenow.com/CACCapp/Ctl/entry?sc=CJB8&lc=en_CA or http://www.creditrsvp.com/ using promo codes CHSS, CJRZ or CJVS

Some people end up calling to check on their application everyday to "speed up" the approval process, but I didn't find that to be necessary for me and friends that I've recommended the card to. Just apply, and wait a few weeks and you should get the card in the mail. Depending on your credit score they might have to verify your identification first at the post office before you get your card, but I don't have experience with the process.

 

Sweet, my first $50 rebate cheque will be here soon. Feels good to get something back for spending money.

Also looks like MBNA will also be issuing chip cards now.

 

I heard really good things about this card, I just applied for one a few days ago

 

MBNA Smart Cash Mastercard is one of the best no fee cash back card with:

Here is a review on the MBNA Smart Cash Mastercard.

Note that there is a limit on MBNA Smart Cash Mastercard:

$600/month is $7200 a year. This is only slightly better than the RBC Cash back Mastercard at 2% for grocery purchases, up to $6000 a year, and 1% thereafter. So if you are presently a RBC Cash back Mastercard holder and don't want to hold on too many credit cards, maybe you can pass the MBNA Smart Cash Mastercard.

It is unclear if the limit is $600/month or $7200 a year. If it is $600/month and your grocery spending is over $600/month, you will be earning 1% for the rest of the spending.

Another point mentioned by the review is you can upgrade the MBNA Smart Cash Mastercard to a Smart Cash World MasterCard for additional 6 months of 5%. Keep in mind the $600 a month limit does not change.

 

All good things must come to an end . It was a matter of time before TD ruined this card.

Effective December 1, 2012, your MBNA Smart Cash Platinum (or World) rewards program is changing.

Amount of cash back you can earn on Gas & Groceries has been reduced to 2% on first $400 monthly spend (from 3%/$600).

For Platinum card holders, the amount of cash back that you can earn will be limited to 1% of your first $1,250 in monthly Net Purchases, including Gas and Groceries Purchases. This limit does not apply to World version card holders.

 

booogers, this sucks

 

I think the MBNA Smart Cash is now back to 5%... see link below...

https://www.applyonlinenow.com/CACCapp/Ctl/entry?sc=COL6&lc=en_CA

How Smart Cash Works

• Up to 5% cash back on all of your eligible gas and grocery purchases for the first 6 months‡
• Up to 2% cash back on eligible gas and grocery purchases thereafter‡
• And, up to 1% cash back on all of your other eligible purchases‡
• 1.99% annual interest rate† (AIR) on balance transfers*, access cheques and deposits* for the first 10 full months
• Enjoy free online access to your credit card account

 

My bad... it was changed from 3% to 2% previously and it is now still 2%, in other words there is no change since the last reduction in December 2012.

The 5% is always there and is only for 6 months, after 6 months, it is 2% (and not 3%).