Banks
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

MBNA Canada

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About Bank

MBNA Canada is a division of the Toronto-Dominion Bank (known as TD Bank Group — TD), the sixth largest bank in North America. The acquisition happened in 2011 when TD purchased MBNA's Canada MasterCard portfolio to become one of the largest Canadian credit providers and get both Mastercard and Visa credit cards. MBNA is based in Ottawa to provide services and products to hundreds of Canadian membership organizations, credit unions, financial institutions, sports associations, educational institutions, and charities.

MBNA

Key Features

  1. Credit Cards. MBNA Canada is focused on credit card services to offer a great variety of options. It's maintaining the leading position as a provider of co-branded and affinity credit card programs in Canada. The partner companies provide bonuses and special offers for MBNA cardholders (no cash value, bonuses are posted to your points account within ten weeks from the transaction date).

  2. Reputation. The bank is a division of a large reputable bank group with more than 22 million clients all over the world.

  3. Online Access. Mobile app and online banking accounts are made for your convenience and allow you to have access to the credit card account anytime.

  4. Paperless Statements. MBNA offers paperless statements, allowing cardholders to manage their accounts online and receive statements electronically.

Pros and Cons

Pros

Wide Range of Options. MBNA provides a large number of credit card options, allowing customers to choose the best one that suits their individual needs and preferences.

Visa and Mastercard. MBNA offers credit cards with both Visa and Mastercard networks, providing worldwide acceptance and convenience for cardholders.

Rewards and Cashback. MBNA credit cards offer rewards, bonus point offers, and cashback on various categories such as restaurants, digital media, groceries, household utility purchases, and more.

Cons

Only Credit Cards Available. MBNA primarily offers credit cards and does not provide other financial products such as loans or savings accounts.

Reduced Cashback Rate After Promo Period. The cashback rate on MBNA credit cards may decrease after the promotional period, potentially resulting in lower rewards for cardholders.

Limited Premium Options. MBNA may have fewer premium credit card options compared to some other providers, limiting choices for customers seeking exclusive perks and benefits.

MBNA Requirements

  1. Age Requirement. Applicants must have reached the age of majority in their province or territory of residence. This typically means being at least 18 or 19 years old, depending on the jurisdiction.

  2. Canadian Residency. Applicants must be Canadian residents, residing within the country's borders.

Access on the Go

MBNA's online banking platform provides convenient and secure access to manage your specific credit card account(s) issued by The Toronto-Dominion Bank operating a division as MBNA ("MBNA"). With this platform, cardholders can monitor their finances effectively and perform various transactions without the need to visit a physical branch.

Through MBNA's online banking portal, users can access real-time account information, including balances, available credit, and recent transactions. This up-to-the-minute visibility allows cardholders to stay informed about their financial status and track their spending with ease. Additionally, users can review their statement periods and access electronic statements for faster delivery and environmental sustainability, receiving email notifications once statements are available.

The platform offers convenient self-service options, enabling users to request balance transfers and credit limit increases online, eliminating the need for lengthy phone calls or branch visits. Moreover, cardholders can update personal information such as address, telephone number, and PIN number directly through the online banking portal, ensuring that their account details are always accurate and up to date.

For mobile users, MBNA offers a dedicated mobile app, providing access to Canadian-issued credit card(s) by MBNA. This app allows users to manage their credit card accounts conveniently from their smartphones, enhancing accessibility and flexibility. By registering as an online banking user, cardholders can access the app's features, including viewing balances, checking payment statuses, confirming available credit, and reviewing transaction history.

Furthermore, the online banking platform caters to users enrolled in MBNA's rewards programs, enabling them to track their reward balances for various credit cards, including the Amazon.ca Rewards Mastercard and MBNA Rewards credit cards.

MBNA products

  1. True Line Cards. MBNA's True Line cards typically offer low-interest rates, making them suitable for individuals looking to save on interest charges, especially for carrying balances.

  2. Rewards Cards. MBNA provides rewards credit cards that allow cardholders to earn points or cash back on eligible purchases. These rewards can be redeemed for various benefits, such as travel, merchandise, or statement credits.

  3. Smart Cash Cards. MBNA's Smart Cash cards offer cash-back rewards on everyday purchases, including grocery purchases, gas, and other essentials. Cardholders can earn cash-back on qualifying purchases, helping them save money over time.

  4. Amazon.ca Card. MBNA offers the Amazon.ca Rewards Mastercard, which allows cardholders to earn Amazon.ca Rewards points on purchases made on Amazon.ca and everywhere else they shop. These points can be redeemed for Amazon.ca purchases, offering additional value for frequent Amazon shoppers.

  5. The Royal Canadian Legion MBNA Rewards Mastercard. MBNA collaborates with The Royal Canadian Legion to offer a co-branded credit card that allows cardholders to earn rewards points on their purchases. These points can be redeemed for various rewards, including travel, merchandise, and charitable donations.

MBNA services

  1. Rewards. MBNA Rewards program lets you earn points or miles on your eligible purchases, which never expire, and redeem them according to your needs.

  2. Payment Plans. MBNA Payment Plans is designed for making payments with your MBNA credit card within 6,12 or 18 months.

  3. Protection Plan. MBNA Credit Card Payment Protection Plan helps protect your credit card account's balance during some job loss, disability, or death.

  4. Alerts. Credit Alert Plus is made for daily, monthly and quarterly monitoring, managing through 24/7 online access and protecting your valuable credit and identity information.

  5. Apple Pay. Apple Pay is available to make your payments easy and quick. You may shop securely, using Touch ID or Face ID instead of a PIN.

  6. Funds Management. Online and mobile banking lets you manage your funds securely, easily, and quickly. Make transfers request credit limit, get e-statements, and activate a card from your computer or smartphone.

Which associations does MBNA belong to?

MBNA is associated with several prominent entities and organizations within the financial industry. As a subsidiary of TD Bank Group, MBNA benefits from its affiliation with one of Canada's leading financial institutions. Additionally, MBNA collaborates with major credit card companies such as Mastercard and Visa, offering credit cards under their respective networks.

Moreover, being part of the TD Bank Group, MBNA automatically becomes a member of various associations and regulatory bodies in Canada. These include the Canadian Bankers Association (CBA), which represents the interests of banks in Canada and advocates for sound banking policies. MBNA is also likely to be a member of the Canada Deposit Insurance Corporation (CDIC), which provides deposit insurance protection for eligible deposits at member institutions in case of bank failure.

Bank Reliability

Yes, MBNA is considered reliable due to its affiliation with TD Bank Group, its longstanding presence in the credit card industry, and its adherence to industry regulations and standards. As a subsidiary of TD Bank Group and a member of reputable associations, MBNA demonstrates a commitment to financial stability, customer service, and regulatory compliance. Additionally, MBNA's track record of providing a diverse range of credit card options and its focus on security and customer satisfaction contribute to its reputation as a reliable financial institution.

Editorial Opinion

In the realm of credit card companies, MBNA stands as a notable player, offering a variety of options tailored to diverse consumer needs. From the allure of the best MBNA credit card options to the convenience of cash advances and access cheques, MBNA presents a range of features aimed at enhancing the cardholder experience. The inclusion of bonus point offers and welcome bonus at account opening adds further appeal, incentivizing prospective users to explore the benefits of a new account. However, as with any financial institution, careful consideration of program terms and responsible usage is imperative to ensure a positive and beneficial relationship with MBNA. Overall, MBNA's presence in the industry underscores its significance and underscores its relevance in the realm of credit card services.

Additional Resources

Sources

FAQ

What bank is MBNA Canada?

MBNA Canada is a subsidiary of TD Bank Group, one of the largest and most prominent banks in Canada.

Is it hard to qualify for MBNA?

Qualifying for an MBNA credit card typically depends on factors such as credit history, income, and other financial considerations. While specific eligibility requirements may vary, MBNA generally offers credit cards to a wide range of applicants, including those with good to excellent credit scores. However, individuals with limited credit history or poor credit may find it more challenging to qualify for certain MBNA credit cards.

Is MBNA legitimate?

Yes, it is a division of TD Bank (Toronto-Dominion Bank) since 2011, originally known as Maryland National Bank. In the UK, MBNA is a trading style of Lloyds Banking Group.

How can I get in touch with MBNA?

To contact MBNA call 1-888-876-6262 or visit the MBNA official website. Their working schedule is Monday to Sunday, 7 a.m. — 12 a.m. EST.

Can I make a balance transfer with an MBNA credit card?

The total value of transfer requests and/or deposits cannot exceed your authorized credit limit. MBNA may send a partial payment to the designated account if it is greater. You cannot use balance transfers to pay off or pay down your account balance or other balances with MBNA or any of its affiliates. Balance transfer fees may be charged in accordance with the terms and conditions of your account agreement. Call 1-888-876-6262 for details.

Company documents

Privacy Policy
Terms of Use

MBNA is a leading provider of Mastercard credit card products in Canada offering both MBNA branded and Co-branded credit card products.

© MBNA Canada
Financial products
MBNA Canada
The Royal Canadian Legion® MBNA Rewards Mastercard®
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Effective interest rate on the product

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Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
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Rate
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Effective interest rate on the product

19.99% - 22.99%
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
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300
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Rate
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Effective interest rate on the product

19.99% - 22.99%
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
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300
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Rate
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Effective interest rate on the product

19,99% - 24,99%
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
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300
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Rate
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Effective interest rate on the product

19,99% - 22,99%
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
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Rate
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Effective interest rate on the product

8,99% - 24,99%
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

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Effective interest rate on the product

8,99% - 12,99%
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

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Effective interest rate on the product

19.99% - 22.99%
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

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Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
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300
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Effective interest rate on the product

19.99% - 22.99%
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

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from $5,000
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Effective interest rate on the product

19.99% - 22.99%
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
Rate
i

Effective interest rate on the product

20.99% - 22.99%
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
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300
650
1000
Rate
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Effective interest rate on the product

21.99% - 22.99%
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