[wpcode id=\"6346\"]
{{card.name}} Review
![\"\"](\"https://www.dollarwise.ca/wp-content/uploads/2023/06/MBNA-True-Line-Gold-MasterCard.png\")
{{card.annualFee}}
Annual Fee
{{card.rewards}}
Annual Rewards
{{card.introOffer}}
Intro Offer
{{card.annualFee}}
Annual fee
{{card.rewards}}
Annual rewards
{{card.introOffer}}
Intro offer
Pros
{{Pros}}
Cons
{{Cons}}
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Performance test results
At DollarWise, for each credit card we test 7 different factors including the rewards, value for money, perks, insurance, strengths and weaknesses of the card.
You can see our full testing methodology here to learn why we're the most trusted source for credit card reviews.
The {{card.name}} has earned a {{ranking}} DollarWise Rating out of 5. This score is based on a weighted average of the two highest scoring factors (excluding acceptance and approval).
{{factor_score_rewards}}
Rewards
{{factor_score_fee}}
Fees
{{factor_score_perks}}
Perks
{{factor_score_interest}}
Interest rates
{{factor_score_insurance}}
Insurance
{{factor_score_acceptance}}
Acceptance
{{factor_score_approval}}
Approval
The highest scoring categories for the {{card.name}} are {{score_1}} and {{score_2}}.
These factors are weighted 70% to the highest scoring factor and 30% to the second highest score to get an overall review score.
This weighting allows us to judge cards on their merits and the customers they are designed for.
For the {{card.name}} the most important factors for scoring this card are its {{score_1}} and {{score_2}}.
Rewards
With the {{card.name}}, here's the rates at which you earn rewards for different spending categories per dollar you spend:
| Bills | {{reward_bills}} |
| Pharmacy | {{reward_drug}} |
| Gas | {{reward_gas}} |
| Groceries | {{reward_grocery}} |
| Restaurants | {{reward_restaurant}} |
| Specific Stores | {{reward_store}} |
| Travel | {{reward_travel}} |
| All Other Spend | {{reward_other}} |
Calculating your annual rewards
We estimate that spending {{monthlyspend}} per month with the {{card.name}} would earn {{card.rewards}} in rewards over the year.
Our performance testing research uses an accurate estimation of the average Canadian households spending patterns to predict the rewards a card will earn.
We found that you'd earn this per category:
| Bills | {{bills_dollarrewards}} |
| Pharmacy | {{drug_dollarrewards}} |
| Gas | {{gas_dollarrewards}} |
| Groceries | {{grocery_dollarrewards}} |
| Restaurants | {{restaurant_dollarrewards}} |
| Specific Stores | {{store_dollarrewards}} |
| Travel | {{travel_dollarrewards}} |
| All Other Spend | {{other_dollarrewards}} |
Our study investigating the value found that each dollar spent on the {{card.name}} is worth up to {{card.max_reward}}, depending on how you redeem.
This {{card.rewards}} in rewards value puts the {{card.name}} in the {{decile.annual_rewards}} of credit cards in Canada based on rewards earned.
The average credit card in our database earns {{averages.mean_annual_rewards}} in rewards for the same spend that the {{card.name}} earns {{card.rewards}} in rewards value.
![\"\"](\"http://www.dollarwise.ca/wp-content/uploads/2024/01/MBNA-True-Line-Gold-MasterCard_rewards_comparison.svg\")
We can compare this card to other options by looking at the earn rate by category.
This earn rate is the percentage return that you would get when you spend on this card, assuming you redeem at the predicted maximum value.
For example, if a card earned 5 points per dollar on gas and each point is worth up to $0.02, then the earn rate is 5 points multiplied by $0.02 each, divided by the dollar you spent.
In this example, that's a 10% earn rate on gas.
| Spend | This Card | Average |
|---|---|---|
| Bills | {{bills_earnrate}} | {{averages.mean_bills_earnrate}} |
| Pharmacy | {{drug_earnrate}} | {{averages.mean_drug_earnrate}} |
| Gas | {{gas_earnrate}} | {{averages.mean_gas_earnrate}} |
| Groceries | {{grocery_earnrate}} | {{averages.mean_grocery_earnrate}} |
| Restaurant | {{restaurant_earnrate}} | {{averages.mean_restaurant_earnrate}} |
| Store | {{store_earnrate}} | {{averages.mean_store_earnrate}} |
| Travel | {{travel_earnrate}} | {{averages.mean_travel_earnrate}} |
| Other | {{other_earnrate}} | {{averages.mean_other_earnrate}} |
| Redemption method | Annual rewards |
|---|---|
| Transfer to partner airlines | {{transfer_airlines}} |
| Fixed points travel | {{fixed_points_travel}} |
| Transfer to partner hotels | {{transfer_hotel}} |
| Redeem for travel | {{redeem_travel}} |
| Apply to statement credit | {{statement_credit}} |
| Ticketmaster | {{ticketmaster}} |
| Charity | {{charity}} |
| Gift cards | {{gift_cards}} |
| Amazon.ca | {{amazon}} |
| Merchandise | {{merchandise}} |
| Make investments | {{investments}} |
| Enjoy experiences | {{experiences}} |
| Car rentals | {{car_rental}} |
| Vacations | {{vacation}} |
| Attractions | {{attractions}} |
| Cash rewards | {{cash_rewards}} |
| Grocery rewards | {{grocery_rewards}} |
| Restaurant rewards | {{restaurant_rewards}} |
| Movie rewards | {{movie_rewards}} |
| Apple / BestBuy | {{apple_bestbuy}} |
| Flight rewards | {{flight_rewards}} |
| Airlines Rewards (Charts) | {{airlines_rewards_chart}} |
| CIBC financial products | {{cibc_financial_products}} |
| Air travel - redemptions (scheduled) | {{air_travel_redemptions_schedule}} |
| RBC travel | {{rbc_travel}} |
| Transfer to WestJet | {{transfer_westjet}} |
| Transfer to Hudson Bay | {{transfer_bay}} |
| RBC financial products | {{rbc_financial_products_rewards}} |
| Air Canada gift cards | {{aircanada_gift_card}} |
| Air Canada vactions | {{air_canada_vacations}} |
| Electronics gift cards | {{electronics_gift_cards}} |
| Cash - World Elite | {{cash_worldelite}} |
| Cash - Platinum Plus | {{cash_platinumplus}} |
| Banking plans | {{banking_plans}} |
| Desjardins financial products | {{desjardins_financial_products}} |
| Expedia travel | {{expedia_td}} |
| Educational rewards | {{education_rewards}} |
| HSBC financial products | {{hsbc_financial_products}} |
| Walmart | {{walmart_rewards}} |
| Triangle (Canadian Tire) | {{triangle_rewards}} |
| Meridian travel | {{meridian_travel}} |
| Direct deposit | {{direct_deposit_rewards}} |
| Costco gift cards | {{costco_gift_cards}} |
| Wireless Rogers rewards | {{wireless_rogers_rewards}} |
| 1 Rogers rewards | {{1_roger_rewards}} |
| Other Rogers rewards | {{other_roger_rewards}} |
| Other 1 Rogers rewards | {{other_1_roger_rewards}} |
For an annual spend of {{annualspend}}, we estimated annual rewards value at up to {{total_net_rewards}}.
That's equivalent to a {{total_earn_rate}} return on spending.
The {{card.name}} has an annual fee of {{card.annualFee}}. After deducting this, we predicted net annual rewards of {{net_after_fee}}.
This puts it in the {{decile.net_annual_rewards}} of credit cards for net rewards after fees.
In comparison, the average card earns net annual rewards of {{averages.mean_net_annual_rewards}}.
Fees
The {{card.name}} has a {{card.annualFee}} annual fee.
The average card charges {{averages.mean_annual_fee}}. So, the {{card.name}} is in the {{decile.annual_fee}} of cards based on the cost of the annual fee.
Perks
![\"\"](\"http://www.dollarwise.ca/wp-content/uploads/2024/01/MBNA-True-Line-Gold-MasterCard_perk_score.png\")
We manually review the perks of each credit card to determine how they compare to other cards.
The {{card.name}} scored a {{factor_score_perks}} out of 5 for perks, putting it in the {{decile.factor_score_perks}} of cards.
The average card scores {{averages.mean_factor_score_perks}} out of 5 for perks.
Interest Rates
| Purchase | {{purchase_interest_rate}}% |
| Cash Advance | {{cash_advance_interest_rate}}% |
| Balance Transfer | {{balance_transfer_interest_rate}}% |
The average (median) credit card has a purchase interest rate of {{averages.median_purchase_interest_rate}} and so the {{card.name}} charges {{purchase_interest_diff}} than the average.
For cash advances it costs {{cash_advance_interest_rate}}% compared to the average of {{averages.mean_cash_advance_interest_rate}}.
![\"\"](\"http://www.dollarwise.ca/wp-content/uploads/2024/01/MBNA-True-Line-Gold-MasterCard_interest_accumulated_difference.jpg\")
Testing the {{card.name}} with a $2,000 starting balance, you can see in the graph how the {{purchase_interest_diff}} in interest rates impacts the interest over a year, compared to the average card.
Insurance coverage
| Insurance | This Card | Average |
|---|---|---|
| Extended Warranty | {{warranty}} | {{averages.median_warranty}} |
| Purchase Protection | {{purchase_protection}} | {{averages.median_purchase_protection}} |
| Travel Accident | {{travel_accident}} | {{averages.median_travel_accident}} |
| Emergency Medical Term | {{emergency_medical_term}} | {{averages.median_emergency_medical_term}} |
| Emergency Medical over 65 | {{emergency_medical_65}} | {{averages.median_emergency_medical_65}} |
| Trip Cancellation | {{trip_cancellation}} | {{averages.median_trip_cancellation}} |
| Trip Interruption | {{trip_interruption}} | {{averages.median_trip_interruption}} |
| Flight Delay | {{flight_delay}} | {{averages.median_flight_delay}} |
| Baggage Delay | {{baggage_delay_insurance}} | {{averages.median_baggage_delay_insurance}} |
| Lost or Stolen Baggage | {{stolen_baggage}} | {{averages.median_stolen_baggage}} |
| Event Cancellation | {{event_cancel}} | {{averages.median_event_cancel}} |
| Rental Car Theft & Damage | {{rental_theft_damage}} | No |
| Rental Car Personal Effects | {{rental_personal}} | {{averages.median_rental_personal}} |
| Rental Car Accident | {{rental_accident}} | {{averages.median_rental_accident}} |
| Hotel Burglary | {{hotel_burglary}} | {{averages.median_hotel_burglary}} |
| Mobile Phone Insurance | {{mobile_insurance}} | {{averages.median_mobile_insurance}} |
| Personal Effects Insurance | {{personal_effects}} | {{averages.median_personal_effects}} |
| Price Protection Insurance | {{price_protection}} | {{averages.median_price_protection}} |
We scored it {{factor_score_insurance}} out of 5 for insurance.
It offers {{insurance_count}} types of insurance, whereas the average card has {{averages.insurance_count}} types of coverage.
Approval and qualifying
| Do I qualify? | |
|---|---|
| Estimated Credit Score | {{credit_score_low}} - {{credit_score_high}} |
| Personal Income | {{personal_income}} |
| Household Income | {{household_income}} |
| Fees | |
|---|---|
| Annual Fee | {{card.annualFee}} |
| Extra Card Fee | $0 |
| Card type | {{card_type}} |
We scored it {{factor_score_approval}} out of 5 for approval.
We predict that you will require a credit score of at least {{credit_score_low}} to qualify for the {{card.name}}, while the average card requires {{averages.mean_credit_score_low}} to qualify.
This puts it in the top {{decile.credit_score_low}} of cards by approval difficulty.
The personal income requirements are {{personal_income}}, while the average card requires {{averages.mean_personal_income}}.
This puts it in the {{decile.personal_income}} of cards by the income required to qualify.
The MBNA True Line Gold MasterCard credit card is a popular option amongst Canadians who are looking for a simple, low-interest credit card. In this review, we will explore its earning potential, as well as its key benefits and drawbacks.
Earning potential with the card
The MBNA True Line Gold MasterCard credit card is not a traditional rewards or cash back card. Instead, it focuses on providing users with a low-interest rate option for their credit card usage. Therefore, there are no reward rates associated with different spending categories.
Benefits
- Low Interest Rate on Purchases and Balance Transfers: The first major advantage of this card is its low interest rate, which is 8.99% on both purchases and balance transfers.
This makes it an attractive choice for individuals who may occasionally carry a balance or are in the process of consolidating debt from other high-interest credit cards. - 0% Promotional Rate on Balance Transfers: With the MBNA True Line Gold MasterCard credit card, users can enjoy a considerable reduction in balance transfer fees, as the card offers a promotional rate of 0% for 6 months on balance transfers completed within 90 days of account opening.
- No Annual Fee: Another major advantage of this card is that it comes with no annual fee, making it a cost-effective option for individuals who are looking for a low-interest credit card without any additional annual costs.
- Purchase Protection and Extended Warranty Benefits: The MBNA True Line Gold MasterCard credit card provides cardholders with purchase protection and extended warranty benefits. These features can be particularly useful for those who frequently make significant purchases and are looking for added security and peace of mind.
Drawbacks
- Lack of Rewards or Cash Back Program: A significant drawback of this card is the lack of rewards or cash back earnings. Unlike many other credit cards in the market, the MBNA True Line Gold MasterCard doesn’t offer any reward program for cardholder spending.
This can be a limitation for those who are looking to earn rewards or cash back in addition to having a low-interest rate on their credit card. - High Foreign Transaction Fee: Another drawback of this card is the comparatively high foreign transaction fee of 2.5%. This can add up for individuals who frequently make international transactions or travel abroad.
Additional information
In conclusion, the MBNA True Line Gold MasterCard credit card is a suitable choice for those who are looking for a simple, low-interest credit card with no annual fees. It may not offer rewards or cash back, but it provides valuable benefits like purchase protection, extended warranty, and promotional balance transfer rates.
However, keep in mind the higher foreign transaction fees if you plan to use this card for international spending.
Interested in other credit cards? Canadians that like the MBNA True Line Gold MasterCard credit card also like the MBNA True Line MasterCard. If you’re looking for other options you should consider the TD Aeroplan Visa Infinite Card, and the MBNA Rewards Platinum Plus MasterCard.
FAQ
The MBNA True Line Gold MasterCard credit card does not offer a points-based rewards system. This card primarily offers its cardholders a low interest rate on purchases and balance transfers. As such, there is no points system or options for redeeming points.
The MBNA True Line Gold MasterCard credit card has foreign transaction fees equal to 2.5% on all purchases made in foreign currencies.
This fee is a combination of 1% charged by MasterCard and an additional 1.5% charged by MBNA as a currency conversion fee. When making a purchase in foreign currency, this fee will be applied on top of the converted Canadian dollar amount, increasing the total cost.
The MBNA True Line Gold MasterCard credit card does not have a specific minimum income requirement for applicants. However, credit approval is still subject to individual financial circumstances and credit history.
Applicants should ensure they meet the necessary criteria for creditworthiness.
Key benefits
- 8.99% interest rate on purchases, balance transfers, and cash advances
- $0 annual fee for cardholders
- 0% promotional balance transfer rate within first 6 months
- Up to $1,000 mobile device insurance for theft or loss
- 90-day protection on purchases against damage or theft
- One-year extended warranty on eligible items
- Absence of rewards program for spending
- No travel-related perks or benefits included
- Limited range of insurance features compared to competitors
- 2.5% fee applied to foreign transactions