MBNA Offering 2x Points, $0 Annual Fee With Their MBNA Rewards Platinum Plus Mastercard

Due to the growing consumer demand in terms of credit card rewards, it is not surprising to see a generous signup bonus for every card in the market. This situation made it easy for banks to intensify their reward program to lure more customers who are looking for a simple credit card.

Take the MBNA Rewards Platinum Plus Mastercard as an example. This credit card promises double points every time it is used to pay for eligible transactions. However, this is not something new because other reward cards also offer this kind of bonus.

Features and Benefits

The strongest asset of this card may be the welcome offer of 2,500 points for enrolling in e-statements and another 2,500 points for eligible purchases.

Reward points, once acquired, don’t expire as long as the account is still active and in good standing.

The redemption value for travel is 100 points per $1. While this might seem to benefit a cardholder, the redemption value is still pretty high. In order to get a $200 discount, cardholders need to spend a total of $20,000.

In terms of security, the MBNA Rewards Platinum Plus Mastercard is reliable. Aside from the Chip and Pin, it also has the Mastercard Zero Liability feature, which secures the cardholder from unauthorized transactions.

Application Process

There are two ways to apply for this credit card. One is through online application and the other is by phone. To successfully get this card, interested applicants must be at least 18 years old, a Canadian resident and employed. For online application, a form must be filled out, containing personal information, residence, employment status and financial capacity.

Interested applicants need to understand that the bank may look up credit history to find out if the applicant is eligible for the credit card. There is no assumed credit limit set by the bank because personal circumstances determine the limit of the card.

Fees and Charges

For a no annual fee credit card, the MBNA Rewards Platinum Plus Mastercard is fairly cheap, with a purchase APR of 19.99%. However, other charges for cash advance transactions are pretty high at 24.99%.

RELATED ARTICLES

Program for an Electric Vehicle Tax Credit for Union-Built Vehicles
Credit

Program for an Electric Vehicle Tax Credit for Union-Built Vehicles Faces Obstacle

House Democrats' plan to provide customers with an additional option to encourage union-built vehicles has sparked controversy and discussion among legislators, manufacturers, and other parties. The House Ways and Means Committee last week cleared the tax breaks for consideration in the Democrats' $3.5 trillion budget bill measure, despite vocal objections...
Williams-Sonoma Key Rewards Credit Card Program
Credit

Williams-Sonoma and Capital One Introduce The Key Rewards Credit Card Program

Williams-Sonoma, Inc., a leading American home retail company, revealed that it has partnered with bank holding company Capital One to introduce the Key Rewards Credit Card Program. The company’s top-level Key Rewards program is upgraded with new credit cards. Cardholders can accumulate rewards when they shop at Williams Sonoma, Inc....
Federal Bank Credit Cards In Partnership With Visa
Credit

Federal Bank Introduces Credit Cards In Partnership With Visa

Federal Bank has announced the introduction of its credit card in India. To offer credit cards to its current clients, the private banking company has collaborated with Visa, the worldwide financial services corporation. As per Shyam Srinivasan, Managing Director and CEO of Federal Bank, the issuance of the card would...
Wells Fargo Personal Credit Lines Closure Plan
Credit

Wells Fargo Drops Personal Credit Lines Closure Plan

Wells Fargo & Co. sparked a public outcry when it announced plans to phase down personal lines of credit in July, but the firm will reverse direction on August 18, 2021. Customers who have been using their personal credit lines have just received notice from the San Francisco-based lender...
Universal Credit Human Rights Legislation
Credit

The Reduction in Universal Credit Violates Human Rights Legislation

According to the UN's poverty expert, reducing universal credit by £20 per week is an "unjustifiable" decision that violates human rights law and would certainly lead to an expansion of poverty. The retreat of the £1,000-a-year uplift from next month, according to Olivier De Schutter, the UN-appointed chair of the...
Credit Cards Dark Web Data Leak
Credit

Hackers Leak 1M Credit Cards on the Dark Web

One million stolen credit cards have been posted by hackers on the Dark Web through AllWorld.Cards. The act was reportedly done by cybercriminals in an attempt to promote their activities and operations, as well as make their organization known. The leaked credit card information was discovered by cybersecurity researchers from...
Carter’s Child Tax Credit May Boost Children’s Apparel Business
Credit

Carter’s Says Child Tax Credit May Boost Children’s Apparel Business

Carter’s, an American retailer for children’s apparel, says that with the new child tax credit rolling out across the United States, and as the usual shopping for back-to-school resumes, the company is confident about its opportunities. To meet the consumers’ demand, the company is being compelled to pay extra to...
Younited Credit Yields Million in Fund
Credit

Younited Credit Yields $170 Million in Fund Round

Younited Credit, a France-based company, has secured $170 million in fund round. Consumers in Europe can choose from a variety of credit options offered by the startup. It also employs a multi-distribution method. The funding round, which is led by Goldman Sachs, has participants including existing investors such as Bpifrance,...
Sterling Construction Modifies Credit Agreement
Credit

Sterling Construction Modifies Credit Agreement with BMO Harris Bank

Sterling Construction Company, Inc. has modified its current credit agreement with BMO Harris Bank, its lending group. It has revealed that numerous terms of the agreement are revised. Two of the terms include lowering the existing credit agreement borrowing interest rate by 2% points and reducing the credit agreement's future...