If you’re looking for a credit card with a strong rewards program, this guide will help. The MBNA Rewards World Elite® Mastercard® provides high earn rates and flexible redemption.
You’ll learn how to apply, what benefits it offers, and who qualifies. This card suits Canadians with high incomes and regular spending.
How to Apply for the MBNA Rewards World Elite® Mastercard®?
The application process is fast and online. Applying for the MBNA Rewards World Elite® Mastercard® requires you to provide your personal, financial, and contact details. The form is secure and takes just a few minutes to complete. Here is how to get started.
Step-By-Step Online Application Process
Go to the official MBNA website and find the Rewards World Elite® Mastercard® page. Click “Apply Now” to launch the online application.
Fill out the requested information, including name, address, income, and employment. Agree to the terms and submit your application for review.
After You Apply
MBNA may approve your application instantly or contact you for additional verification. If approved, your card will arrive by mail within a few business days.
You must activate it before using it for purchases. If declined, you will receive a notice with the reason and next steps.
Eligibility Requirements
To apply for this card, you must meet specific financial and residency conditions. The MBNA Rewards World Elite® Mastercard® is only available to Canadians with a high income profile.
You’ll need to confirm that you meet these basic thresholds before applying. Doing so saves time and increases your chances of approval.
- You must be a Canadian resident and of legal age in your province or territory.
- Your personal annual income must exceed $80,000, or household income must be at least $150,000.
- You must have a good credit standing.
- You should be ready to verify your income and identity during the application process.
Interest Rates and Fees
Before applying, understand the fees and interest rates tied to this card. The MBNA Rewards World Elite® Mastercard® has premium rates that align with its benefits.
If you usually carry a balance, consider this carefully. These rates affect how much you ultimately pay.
- Annual fee: You’ll pay $120 annually for the primary cardholder, and an additional $50 per year for each additional card on your account.
- Purchase interest rate: Purchases made with this card will incur a standard interest rate of 19.99% if not paid in full each month.
- Cash advance rate: Cash advances are subject to a high rate of 24.99%, which begins accruing interest immediately.
- Balance transfer interest rate: Transferring balances from other cards will cost you 22.99% in interest, applied until the full amount is paid.
Rewards and Bonuses
The card offers valuable sign-up and ongoing rewards. With the MBNA Rewards World Elite® Mastercard®, you can earn up to 30,000 bonus points and enjoy high earn rates on everyday categories.
These benefits make it appealing for regular spenders. Let’s break down the rewards structure.
Welcome Bonus and Paperless Enrollment
Earn 20,000 bonus points when you spend $2,000 within the first 90 days. You can also earn 10,000 more points by signing up for paperless e-statements.
Combined, these points equal about $245 in value. This is a strong start for new users.
Points on Daily Spending
You earn 5 points per $1 spent on groceries, restaurants, digital media, memberships, and utilities. The 5x points rate is valid on the first $50,000 spent annually in each category.
After that, you earn 1 point per $1 on all purchases. Other purchases also earn 1 point per dollar with no limit.
Birthday Bonus and Additional Perks
Each year, you get a Birthday Bonus equal to 10% of the total points you earned in the last 12 months. The bonus is capped at 15,000 points.
You receive the bonus in the month before your birthday. This is a rare feature among Canadian credit cards.
Redeeming Your MBNA Points
This card offers flexible redemption options for different lifestyles. Points from the MBNA Rewards World Elite® Mastercard® can be used for travel, merchandise, gift cards, or even donations.
It’s easy to apply points where they matter most. Redemption options are straightforward and transparent.
- Less than 10,000 points: $50 gift card or small item.
- 10,000 to 20,000 points: $100 gift card or headphones.
- Over 20,000 points: fitness tracker or home appliance.
- 30,000 to 50,000 points: round-trip flight from Toronto to Montreal.
Extra Card Features and Services
Aside from rewards, this card includes other services that may add value. The MBNA Rewards World Elite® Mastercard® offers payment flexibility and premium insurance coverage.
These services are suitable for users who often shop or travel. Let’s look at the most useful features.
MBNA Payment Plan
The card allows you to split large purchases into fixed monthly payments. Choose from 6, 12, or 18-month plans for purchases over $100.
This helps manage your budget without using the full credit line. Conditions and fees apply.
Security and Insurance
The card includes zero liability fraud protection, purchase assurance, and extended warranty. It also comes with travel insurance benefits such as lost luggage coverage.
Price protection and rental car insurance are also part of the package. You can review the full details in MBNA’s insurance PDFs.
Customer Support and Contact Details
MBNA provides support through several channels. If you need help with your MBNA Rewards World Elite® Mastercard® application or account, contact their service team. Below are the main numbers.
- Customer Service (Canada): 1-800-347-6262 (7 a.m. to 12 a.m. EST, daily)
- Outside Canada (collect): (613) 907-3505
- TTY (hearing impaired): 1-800-872-5758
- Lost/Stolen cards: 1-888-389-2577 (24/7)
Last Thoughts: Is This the Right Card for You?
The MBNA Rewards World Elite Mastercard stands out for its rewards and additional features. It is ideal for high-income Canadians who spend regularly in key categories.
If you don’t carry a balance and meet the income criteria, this card could offer good value. Review the fees and terms to make sure they fit your needs.
Disclaimers: Review the terms and conditions carefully before you apply. Your approval isn’t guaranteed, and reward point values may vary by redemption type.
