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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).

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:

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:

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.

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.

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

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

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}}.

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

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

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 MasterCard credit card is positioned as a low-interest rate financial product designed for those looking to minimize interest payments on their credit card balance. In this review, we will discuss the card’s earning potential, benefits, drawbacks, and other relevant information to help Canadians make an informed decision.

Earning potential with the card

The MBNA True Line MasterCard does not offer a traditional rewards program, with points or cashback on spending. Instead, it focuses on providing low interest rates, making it a better option for those who want a cost-effective credit card with minimal rewards.

Benefits

1. Low-Interest Rates: One of the main advantages of this card is its low interest rate on all purchases as well as a promotional balance transfer offer for 10 months. This can save cardholders a significant amount on interest charges compared to other credit cards in the market.





2. No Annual Fee: The MBNA True Line MasterCard does not charge an annual fee, making it an attractive option for those who don’t want to pay extra for card membership each year.





3. Fraud Protection: Cardholders benefit from MasterCard’s Zero Liability policy, which means they won’t be held responsible for unauthorized transactions on their account if reported promptly. This provides additional peace of mind while using the card.





4. Worldwide Acceptance: As a MasterCard product, the MBNA True Line card is accepted by millions of merchants worldwide, making it a convenient option for both domestic and international transactions.

Drawbacks

1. Lack of Rewards: A significant drawback of this card is the absence of a rewards program. Many other credit cards on the market offer points, miles, or cashback on spending, and potential cardholders who prioritize rewards may find this card less attractive.





2. Limited Balance Transfer Options: While the card offers a promotional balance transfer rate, this may not be ideal for everyone as it is limited to 10 months. After this period, the interest rate reverts to the standard rate, which may not be competitive compared to other balance transfer offers available in the market.

Additional information

Overall, the MBNA True Line MasterCard is a solid option for Canadians seeking a low-interest rate credit card without an annual fee. However, it lacks a rewards program and may not be the best choice for those who prioritize earning points or cashback on their spending.

When considering this card, it’s essential to weigh personal financial needs and priorities to determine whether this card is a suitable choice.

Is the MBNA True Line MasterCard not convincing you? Consider the TD Aeroplan Visa Infinite Card Privilege Card or the MBNA Smart Cash Platinum Plus MasterCard. Still not the right credit card? Make sure not to miss the TD Rewards Visa Card.

FAQ

Key benefits

• Eligible for MasterCard acceptance worldwide





• Emergency card replacement service





• Priceless Cities experiences access





• Online, contactless, and chip & PIN payments





• Income requirement: minimum $19,000





• Grace period: 21 days, interest free





• 24/7 customer support





• Online account management and alerts





• Tap & Go functionality for faster transactions





• Fraud protection through Zero Liability Policy