Select Page
MBNA Smart Cash Credit Card Review

MBNA Smart Cash Credit Card Review

CompareMyRates is Canada's largest rate & price comparison website - Search, Compare and Save on 1000's of products & services - including Best Mortgage Rates, Credit Cards, GIC Rates, Bank Accounts, Internet Providers, Cell Phone Plans, Home Phone Plans & TV Service Providers.

Are you looking for a credit card that provides you with decent savings on all your cash purchases?

Look no further – the MBNA Smart Cash card could suit your needs perfectly.

It has a strong reputation as one of Canada’s best credit cards for several reasons, but mainly because it lets you earn the highest cash rewards on all purchases in Canada at an annual fee of $39.

More about MBNA’s Smart Cash benefits

Talking of benefits, the Smart Cash card lets you earn 5% cashback on gas and groceries for the first 6 months (up to a maximum of $400 per month).

This means you could save up to $120 in the first 6 months of your membership if you take advantage of this deal.

Once the welcome period of 6 months is over, you continue earning 2% on gas and grocery purchases.  All other purchases earn you cashback of 1%.

But, there’s a catch! The card comes with spending caps, which means cashback rewards are limited to a monthly expenditure of $1,250. If your monthly expenses are higher than this figure, you may want to consider an alternative cashback card.

Disadvantages aside, the card offers great flexibility on reward redemption. It lets you redeem your accumulated rewards any time by cheque, direct deposit, or statement credit.

To sweeten the deal, the MBNA Smart Cash card also comes with 7 different types of purchase and travel insurance. And, you can also enjoy a promotional interest rate of 1.99% for 10 months on balance transfers.

Key features of the MBNA Smart Cash card:

  • Enjoy flexible rewards at a low annual fee of $39.
  • Earn 5% cashback on gas and grocery purchases for the first 6 months (up to a maximum of $400 per month).
  • Receive 2% cashback on gas and grocery purchases after the first 6 months (up to a maximum of $400 per month).
  • Earn 1% cashback on all other purchases (up to a maximum of $1250 per month).
  • Redeem your cash any time by cheque, direct deposit or statement credit.
  • Enjoy a promotional rate of 1.99% on balance transfers for the first 10 months.
  • Travel and purchase insurance benefits.