MBNA True Line® Mastercard® review

Quick overview of the MBNA True Line® Mastercard®

The MBNA True Line^® Mastercard^® is an ideal fit for those who want a no annual fee credit card that comes with competitive interest rates. Its standard purchase interest rate of 12.99% is about half of what most credit cards charge, so if you happen to periodically carry a balance from month to month you’ll at least be able to keep interest charges at a manageable level. Furthermore, the card’s balance transfer^✪ promotion of 0% promotional annual interest rate (“AIR”)† for 12 months on balance transfers completed within 90 days of account opening. (a 3% transfer fee applies) can help you get any outstanding balances you have with other credit cards under control.

Who is the MBNA True Line® Mastercard® for?

The MBNA True Line^® Mastercard^® is ideal for those who want a no-annual-fee credit card with competitive interest rates. The card's 0% promotional annual interest rate (“AIR”)† for 12 months on balance transfers completed within 90 days of account opening. is amongst the longest balance transfer offers in Canada and provides a versatile platform for paying down existing credit card debt and the sort of everyday tools and benefits you'd expect from an MBNA credit card.

Pros and cons

Pros

• Solid welcome offer: 12 months of 0% APR† on balance transfers✪ made within the first 90 days (3% transfer fee applies)

• No annual fee or minimum income requirement

• Low standard interest rate of 12.99% for all new purchases charged to the card

• Some extra perks like fraud protection and a discount on car rentals

Cons

• 3% balance transfer fee is comparatively high

• Very high cash advance interest rate of 24.99%

• No insurance benefits

• Can’t transfer a balance owed to either MBNA or TD

MBNA True Line® credit card welcome bonus

The balance transfer promotion offered by the MBNA True Line® Mastercard will likely be its biggest selling point for individuals seeking to reduce their credit card debt. New cardholders can take advantage of a 0% promotional annual interest rate^† for 12 months on any balance transfer0% promotional annual interest rate (“AIR”)† for 12 months on balance transfers completed within 90 days of account opening.. After the 12-month promotional period, the interest rate increases to the standard balance transfer rate of 17.99%^✪, which is still relatively low. 

It is important to be aware that if you miss a minimum payment, the promotional balance transfer rate will end on the first day of the second statement period and your 0%† interest rate will increase to the regular 17.99%^✪ rate.

Key benefits of the True Line® Mastercard® from MBNA

The True Line Mastercard's biggest benefit from MBNA is its lengthy 0% intro rate period for balance transfers. But don't sell this card short, as it offers more than a great rate. Of course, those transfers must be completed within 90 days of account opening, but that's plenty of time for most.

The card also features a great rate every day after the bonus period expires. The 12.99% purchase APR is exceptional and makes the card a robust financing tool regardless of where (and when) you use it.

One final key benefit of this credit card is its lack of an annual fee. This is a common feature among similar cards, but it's still worth mentioning as it provides peace of mind to cardholders who won't have to pay additional fees yearly. This is especially beneficial for those looking to manage their finances effectively and keep expenses in check.

MBNA True Line® Mastercard insurance coverage

While the MBNA True Line Mastercard does not charge an annual fee, it still offers the same everyday protections and insurance benefits Canadians have come to depend on from MBNA.

• Purchase assurance: On items purchased with your MBNA credit card within the first 90 days from the date of purchase.
• Extended warranty coverage: True Line cardholders have an optional extended warranty of up to 1 year after the original manufacturer's Canadian warranty and the purchased service contract or extended warranty coverage period ends.
• Mastercard zero liability:  Cardholders are not responsible for fraudulent transactions on their MBNA True Line® Mastercard®.

Extra benefits of the MBNA True Line® Mastercard®

The MBNA True Line Mastercard offers an array of additional benefits aimed at providing you with peace of mind both domestically and internationally:

• Additional rental car savings: Using the MBNA credit card to book rental cars through Avis or Budget, you can enjoy up to a 10% discount off the base rate (10% off in Canada and 5% off in the United States). Quote your discount code (#C078405 for Avis or #A331704 for Budget) at the time of reservation and charge the full rental to your MBNA True Line credit card.
• Emergency card replacement: Gain access to emergency card replacement and emergency support.
• Mastercard contactless payments: Experience the convenience of making contactless payments with your Mastercard.
• Card Verification Codes (CVC) and chip & pin technology: Benefit from an extra layer of security provided by CVC and chip & PIN technology.

What people have to say about the MBNA True Line® Mastercard®

• "Probably the best 0% promo on the market." Reddit user Sneakybankster
• "I used balance transfer cards (like the True Line) to pay off my car loan and student loan when I first started out. I rotated them, and it helped me get out of debt faster and build my credit score. You have to be very disciplined and pay attention to the due dates. It was great practice for my mortgage a few years later." Reddit user Threeboys0810

How the MBNA True Line credit card compares

Two Canadian credit cards that are worthy competitors of the MBNA True Line^® Mastercard^® are the CIBC Select Visa* Card and the Scotiabank Value^® Visa* Card.

Disclosures: 

• The information for the CIBC Select Visa* Card has been collected independently by Money.ca. The card details on this page have not been reviewed or provided by the card issuer. †Terms and Conditions Apply. This offer is not available for residents of Quebec.
• Conditions Apply. Visit here for the Scotiabank Value® Visa* Card to learn more. *See Card Provider's website and Card Application for complete card details, terms and current offers. Reasonable efforts are made to maintain accuracy of information.

Is the MBNA True Line® Mastercard® worth it?

If you're looking for a balance transfer credit card, the MBNA True Line Mastercard is a good choice to consider. It offers a 0% intro rate on balance transfer rate for 12 months in Canada, helping you pay off your credit card debt without additional interest costs. The card has no annual fee, saving you money. The low APR on purchases is significantly lower than other credit cards. While there are no rewards or benefits, the primary goal of the card is debt repayment - and it's here where it shines the brightest.

MBNA True Line® Mastercard® eligibility requirements

To be eligible for the MBNA True Line^® Mastercard^®, you must be a Canadian resident and have reached the age of majority in your province or territory. Furthermore, you should have a credit score in the Good range. There is no minimum income requirement. Unfortunately, the balance transfer promotion offer is not available for residents of Quebec.  

FAQs about the MBNA True Line card

Cory Santos Credit card expert

Cory Santos Credit card expert

Cory Santos is a finance writer, editor and credit card expert with nearly a decade of experience in personal finance. Cory joined Wise Publishing from BestCards, with bylines in numerous print and digital publications across North America, including the Miami Herald, St. Louis Post-Dispatch, Debt.ca, AOL, MSN and Medium as well as financial podcasts like KOFE Talk.

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