The MBNA Rewards Platinum Plus is the no-fee version of MBNA's rewards card, with the same five everyday categories as the World Elite: restaurants, groceries, digital media, memberships and household utilities. Here they earn 2 points per dollar (4 for the first 90 days), on up to $10,000 a year in each.
The catch I'd point to first is redemption. Points are worth 1 cent each toward travel but only half a cent as cash, so 2x is 2% if you travel and 1% if you just want money back. I like it as a no-fee card for people who will book travel through MBNA, and the $1,000 of mobile device insurance is a nice surprise at this price.
Welcome offer
MBNA is offering up to 10,000 bonus points, verified on the MBNA page on October 13, 2026: 5,000 after $500 in eligible purchases in the first 90 days, and another 5,000 for enrolling in online banking and paperless statements in the same window. MBNA puts each half at $25 in cash back value. No end date is printed, and the offer can change without notice.
On top of the bonus, the five everyday categories earn 4 points per $1 for the first 90 days instead of 2, within the $10,000 annual cap per category. The points post 8 to 10 weeks after you qualify, there is one bonus per new account, and the offer is not available to residents of Quebec.
The $500 spend in 90 days is easy, so the real move is to switch on paperless statements in the first week, which is half the bonus for no spending at all. Redeem the points for travel at 1 cpp rather than cash at 0.5 cpp and the 10,000 points are worth $100 instead of $50.
Fees & eligibility
The card has a $0 annual fee. There is no income requirement: MBNA only asks that you are a Canadian resident of the age of majority in your province or territory.
With the region set to Ontario, purchases carry 21.99% interest and cash advances and balance transfers 22.99%; MBNA notes that rates and fees may vary by region. The product page does not state the foreign transaction fee, so confirm it before using the card abroad. Points only come out ahead when the balance is paid in full every month.
Earning rewards
Five categories earn 2 points per $1: restaurants, groceries, digital media (subscriptions and digital goods), memberships (clubs and membership organizations) and household utilities (phone, internet, cable and utilities). Each category has its own cap of $10,000 in purchases per calendar year, after which it earns the base rate. Everything else earns 1 point per $1.
For the first 90 days, the five categories earn 4 points per $1 under the welcome offer, inside the same caps. Categories are set by the merchant's category code, so a store that sells groceries but is coded differently earns 1x.
Redeeming rewards
How you redeem matters more than usual. Travel is worth 100 points = $1, or 1 cent per point (cpp). Cash, whether a statement credit, a bank deposit or a cheque, and charity donations are worth 200 points = $1, or 0.5 cpp, with a 10,000-point minimum for a cash reward.
Gift cards and merchandise are priced in the MBNA Rewards Catalogue. Points never expire while the account is open and in good standing. Statement credits do not count toward your minimum payment.
Perks & benefits
The Birthday Bonus is the perk that adds up: 10% of the points you earned in the past year, up to 10,000 points, credited every year. At travel value, that is up to $100 a year.
The rest is modest: at least 10% off Avis and Budget base rates in Canada and the U.S. (at least 5% internationally) and the MBNA Payment Plan, which spreads purchases of $100 or more over 6, 12 or 18 months, with fees. There is no lounge access and no travel credit.
Insurance
The most unusual cover for a no-fee card is Mobile Device Insurance up to $1,000 for loss, theft, accidental damage or mechanical breakdown. You need to charge at least 75% of the device cost to the card, or fund it through a carrier plan and charge every monthly wireless bill to the card. Cover starts 30 days after purchase, lasts two years, and pays the depreciated value (2% a month) less a $25 to $100 deductible.
Purchases are also covered against theft or damage for 90 days, and manufacturer warranties are doubled by up to 1 extra year, with a $60,000 lifetime maximum per account. There is no travel insurance: no medical, trip cancellation, delay, baggage or rental car cover.
My take
I'd get this card if you want a no-fee card for groceries, restaurants and bills and will redeem points for travel; if you only want cash back, I'd skip it.
What I like is the category list. Groceries, restaurants, phone, internet, utilities and subscriptions are bills almost everyone pays, and 2 points per dollar on all of them, plus a yearly birthday bonus, is a decent no-fee setup when the points go to travel at 1 cpp. The mobile device insurance is a real extra.
The weak spot is cash: at 200 points per dollar, 2x becomes 1%, which any flat cash back card beats. The $10,000 caps are also modest for a family grocery bill. If you spend a lot in these categories and earn $80,000 or more, I think the World Elite is worth comparing: 5x on the same categories and a better cash rate, for $120 a year.
The good
- 2x on groceries, restaurants, utilities, digital media and memberships at $0
- Birthday Bonus of up to 10,000 points a year
- Mobile device insurance up to $1,000
The catch
- Cash redemptions are worth only 0.5 cpp
- $10,000 annual cap in each bonus category
- No travel insurance; FX fee not stated on the product page