About MBNA Rewards Platinum Plus Mastercard
The MBNA Rewards Platinum Plus Mastercard is one of several credit cards by MBNA designed for those who want to earn rewards by making purchases. If you apply for this credit card, you will receive a special bonus with a high reward rate of 5 points for every dollar spent. Moreover, it comes with a $0 annual fee and an infinite expiration period, so you can earn as long as you wish.
MBNA Rewards Platinum Plus Mastercard features
MBNA Rewards Platinum Plus Mastercard lets you earn rewards for making purchases. During the first 90 days, you will earn 4 points on eligible restaurant, grocery, digital media, membership, and household utility purchases. Upon the welcome offer expiration, you will receive 2 points for every $1 spent on restaurants, groceries, and select recurring bills (up to $10,000 spent annually per category) and 1 point per $1 spent on all other purchases. However, several special offers let you earn much more. At the beginning of your usage of this card, you can receive up to 10,000 bonuses:
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5,000 points when you spend $500 in the first 90 days.
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5,000 points when you sign up for paperless e-statements within the first 90 days.
Also, MBNA will regularly provide you with birthday presents. For example, you will earn annual Birthday Bonus Points of 10% of the Points made the 12 months before the primary cardholder's birthday month, up to 10,000 bonus points per year. However, you must note that you earn not real money but bonuses that can be redeemed into dollars. You can redeem your rewards through the MBNA Rewards Catalogue for travel, gift cards, and brand-name merchandise. Moreover, the value of rewards is not fixed, as it depends on how you spend them. For example, the redemption value for travel is 100 points per $1, while cash and charity donations are 200 points per $1. Merchandise and gift card point values are disclosed in the Rewards Catalogue.
However, earning rewards is not the only benefit of this credit card. There are many more additional perks. For example, you will have mobile device insurance besides a warranty extension that doubles the original manufacturer’s warranty for up to one year on most purchases. This option provides up to $1,000 in coverage for eligible mobile devices in the event of loss, theft, accidental damage, or mechanical breakdown.
Nevertheless, interest rates on this credit card are relatively high. You will have 19,99% on purchases, 24,99% on cash advances, and 22,99% on balance transfers and access cheques. Moreover, there are no insurance packages or travel perks offered to cardholders.
Also, MBNA Rewards Platinum Plus Mastercard offers you such perks as:
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The MBNA Payment Plan - covering large purchases in installments;
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Discounts on rental cars from Avis and Budget;
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Zero Liability Mastercard.
Pros and cons
Now we can see that MBNA Rewards Platinum Plus Mastercard has enough strong sides:
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Customers earn bonuses for making purchases;
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Welcome bonus;
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Annual birthday offer;
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Several additional services are offered;
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Rewards can be redeemed in different ways.
However, MBNA Rewards Platinum Plus Mastercard still has some disadvantages that are listed below:
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Interest rates are high;
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Insurance services and travel perks are not offered;
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Bonus category spending is limited to $10,000.
How to apply for an MBNA Rewards Platinum Plus Mastercard
To apply for MBNA Rewards Platinum Plus Mastercard, you can visit the MBNA website and find the required section of this credit card. On that page, click on the “Apply Now” button and wait until you are redirected to the application webpage. At the top of this page, you will see full legal disclosures that must be read precisely. Also, you need to choose your preferred correspondence language. As soon as you do that, see the application form below. Fields that are to be filled out:
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Primary Applicant's Information: Your name, home address, housing status, years at current address, monthly payment, years at current address, phone number, and several questions: “Is your mailing address different from your home address?” and “Are you a Canadian resident?”.
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Personal Information: date of birth, mother’s maiden name, email address, and SIN (optional).
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Employment Information. In this section, you need to choose your employment status, and depending on it, you will be asked to provide the required information.
Afterward, you will be offered to add an authorized user and request a balance transfer. Both options are not obligatory, so that you can skip them. In the end, you will be offered to enroll in a payment protection plan, and if you are interested in it, you will need to put a tick into the required box. Finally, you will need to click on the “Review your application” button, and the application will be made.