This is MBNA's plain low-rate card, and it does one job: it charges 12.99% on purchases with no annual fee, against 21.99% on MBNA's own no-fee Rewards Platinum Plus. I'd point it at someone who sometimes carries a balance, or who wants to move existing card debt and pay it down at 0% for a year.
The trade-off is that it gives nothing back. There are no points, no cash back and only basic purchase cover. If you pay in full every month, the low rate never helps you, and almost any no-fee rewards card will serve you better.
Welcome offer
MBNA's welcome offer is a 0% promotional interest rate for 12 months on balance transfers completed within 90 days of opening the account, verified on the MBNA page on October 13, 2026. The 0% runs for 12 statement periods from the date of each transfer, after which any balance left over moves to the standard 17.99% balance transfer rate. MBNA prints no end date for the offer.
Each balance transfer made with the application carries a 3% fee, with a $3.50 minimum, so moving $5,000 costs $150 up front. A late minimum payment ends the promotional rate early, from the second statement period after the missed payment. Balances owed to MBNA or anyone else in the TD Bank Group cannot be transferred.
Divide the transferred balance by 12 and pay at least that much every month, so the debt is gone before the 0% ends. Set up an automatic payment for at least the minimum: one late payment cancels the promotional rate.
Fees & eligibility
The card has a $0 annual fee, and you can add up to 9 authorized users at no extra 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 12.99% interest, balance transfers 17.99% and cash advances 24.99%; MBNA notes that rates and fees may vary by region and may differ in Quebec. New purchases get an interest-free grace period of at least 21 days (outside Quebec) when you pay the full balance. The product page does not state the foreign transaction fee, which sits in the card's disclosure statement.
Perks & benefits
The perks are about managing debt rather than rewards. The headline is the 0% balance transfer offer for the first 12 months, and the MBNA Payment Plan lets you split purchases of $100 or more into payments over 6, 12 or 18 months, with conditions and fees.
You can also move available credit straight to your chequing account, add up to 9 authorized users at no annual fee, and save at least 10% off base rates at participating Avis and Budget locations in Canada and the U.S. (at least 5% internationally). There is no lounge access, no travel credit and no rewards program.
Insurance
The product page lists no insurance, but MBNA's Guide to Coverage for the Platinum Plus or True Line Mastercard, underwritten by TD Home and Auto Insurance Company, provides purchase assurance and extended warranty. Items charged in full to the card are covered against theft or damage for 90 days, and manufacturer warranties of up to five years are doubled by up to 1 extra year.
Limits are modest: computers and their accessories count as one item at $1,000 per loss, jewellery and fine art $500 per item, and there is a $60,000 lifetime maximum per account. There is no travel insurance and no mobile device cover.
My take
I'd get this card if you carry a balance or want to move card debt to 0% for a year; if you pay in full every month, I'd skip it for a no-fee rewards card.
What I like is how little there is to manage: no fee, one 12.99% purchase rate, and a year at 0% on transferred balances. For someone working down a balance, that rate gap matters far more than any rewards program, and a one-time 3% transfer fee is small next to a year of interest at 21.99%, the rate on MBNA's no-fee rewards card.
The downsides are worth naming. The 0% only covers transfers made in the first 90 days, the leftover balance jumps to 17.99% after 12 statement periods, and cash advances run 24.99%. There are no rewards at all, so once the debt is gone I'd keep this card as a backup and put everyday spending on something that pays you back.
The good
- 12.99% purchase rate with no annual fee
- 0% on balance transfers for 12 months
- Up to 9 authorized users at no extra fee
The catch
- No rewards of any kind
- 3% balance transfer fee and 17.99% after the promotion
- 24.99% on cash advances and no travel insurance