No Fee Canadian Credit Card With Unbelievable Rewards and Insurance

by Mike Holman

[Edit from Mike:  Please note this post has no affiliate links and no compensation was received for this post from MNBA or anyone else - Henry just really likes the card]

I was pleasantly surprised when I first read about MBNA Smart Cash Credit Card on 3% cashback on groceries and gas up to 600 dollars spent a month. Yup, that is correct. Comprehensive insurance benefits that includes 1 million dollar travel accident insurance. Yup, that is correct. No annual fee. Yup, that is correct.  MNBA already offered one of the best no-fee Canadian rewards cards but this one is even better.

What is included?

  • 3% cashback on groceries and gas (600 dollars spending limit)
  • 1% cashback on other purchases
  • Cashback is mailed out in 50 dollar accumulated increments
  • No annual fees

Sign Up Bonus:

5% cashback on groceries and gas for the first six month (600 dollars spending limit) which gets lowered to the normal 3% after 6 months.

Platinum Plus’ Insurance Package

  • MasterRental: Auto-Collision Rental Insurance with $200,000 Accidental Death Benefit
  • MasterTrip: $1,000,000 Common Carrier Travel Accident Insurance
  • MasterPurchase: Purchase Assurance and Extended Warranty

What is missing from this card?

  • No road side assistance.
  • No trip interruption insurance.
  • No luggage insurance.

Who is eligible to get this card?

  • Regular Card: Students who is looking for their first credit card.
  • Platinum Plus Card: People with established Credit.

If you are a student then apply for the regular card – once you establish a credit history, you can call in and they can upgrade your card to Platinum Plus. MBNA is willing to give students Platinum Plus Card, once a credit history is established.

Final Thoughts

I am a proud owner of MBNA Smart Cash Platinum Plus Mastercard and I use it all the time. If you don’t have a premium credit card, MBNA Smart Cash Platinum Plus Mastercard is the card to get. For best application results, you should call during the day to reach a consultant at MBNA Ottawa Call Center and make a follow up call on the next day to get your credit card approved. I got my card within two weeks of application. Use your card as much as possible during the first six months to get the bonus cashback. Last not least, be ready for those cashback cheques in the mail!!!

More information – American cash back credit cards

Best cash back credit cards

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