Overall rating
First year value
$0
Get this card if you:
- want a low interest rate with no annual fee
- value extended warranty and purchase protection
- want to pay down existing credit card debt
Scores by category
Low Interest 4.7
Balance Transfer 4.1
No Annual Fee 2.5
At a glance
The MBNA True Line® Mastercard® is a no-annual-fee credit card designed for individuals seeking a low-interest option for managing their finances. It offers a competitive interest rate on purchases and balance transfers, along with benefits such as fraud protection and discounts on car rentals.
Highlights
0% intro rate
Welcome bonus
Interest Rates
12.99%
Purchase APR
17.99%
Balance transfer APR
24.99%
Cash advance APR
Eligibility
Good
Recommended credit score
Quick overview of the MBNA True Line® Mastercard®
The MBNA True Line® Mastercard® isn’t trying to dazzle you with flashy rewards or premium travel perks. Instead, it focuses on what truly matters for many Canadians: reducing interest costs and helping you regain control of your finances.
The True Line Mastercard's party trick is its lengthy 0% intro rate on balance transfers. For a cardholder transferring a $2,000 balance from a typical 19.99% card, the s0% promotional rate would offer approximately (factoring in the transfer fee).
Who is the MBNA True Line® Mastercard® for?
The MBNA True Line® Mastercard® is an ideal fit for the following Canadians:
- Canadians looking for a no annual fee credit card with interest rates well below the market average
- Balance-carriers seeking to consolidate high-interest debt with the 0% APR for 12 months on balance transfers completed within 90 days of account opening
- Smart shoppers who want one of the longest balance transfer promotional periods available in Canada (transfers must be completed within 90 days of account opening)
- Anyone looking to reduce interest costs while paying down existing credit card debt
- Consumers who want basic Mastercard benefits without paying yearly maintenance fees
- Budget-conscious Canadians who occasionally carry balances and need a permanently lower interest rate
- Those building or rebuilding their credit profile who want an accessible card with minimal costs
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 0% promotional annual interest rate (“AIR”)† for 12 months
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.
If you’re transferring a balance, create a repayment plan immediately. Take the total amount (including the 3% fee) and divide by 12 to determine your monthly payment target. Setting up automatic payments ensures you’ll be debt-free before the promotional rate expires.
Cory Santos, Money.ca credit card expert
Beyond the promotional interest rate on transfers, MBNA True Line Mastercard cardholders can expect the following regular, ongoing APRs:
- Purchase APR: 12.99%
- Balance transfer APR: 17.99%
- Cash advance APR: 24.99%
Fees:
- Annual fee: $0
- Balance transfer fee: 3% of the balance transferred
- Foreign transaction fee: 2.5% of the transaction in CDN
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.
While the low interest rates are the star attraction, the card does include some additional benefits:
- Purchase assurance: Protection against loss, theft, or damage for 90 days on eligible purchases
- Extended warranty: Doubles the manufacturer’s warranty for up to one additional year
- Rental car discounts: Save up to 10% at Avis and Budget locations in Canada (10%) and the U.S. (5%)
- Mastercard Zero Liability: You’re not responsible for unauthorized purchases
- Emergency card replacement: Get a replacement card quickly if yours is lost or stolen
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.
| Insurance | Coverage amount |
|---|---|
| Purchase protection | On items purchased with your MBNA credit card within the first 90 days from the date of purchase. |
| Extended warranty | 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. |
- "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
Probably the best 0% promo on the market
Reddit user u/Sneakybankster
How the MBNA True Line credit card compares
0% interest
Welcome Bonus
$0
First Year Value
$0
Annual Value
Welcome Bonus: Transfer your credit card balance and get 0% interest for up to 10 months with a 1% transfer fee† and a first year annual fee rebate.‡
Get this card if you...
-
want a low-interest rate on purchases and balance transfers
-
want a modest annual fee
-
don't need comprehensive insurance benefits
Annual Fee & Annual Interest Rates
$29
Annual Fee
13.99%†
Purchase
13.99%†
Cash Advance
13.99%†
Balance Transfer
Our Take
The CIBC Select Visa* Card is a low-interest credit card offering a promotional interest rate on balance transfers for a specified period, subject to a transfer fee. It features a low annual fee and provides basic insurance coverage, making it suitable for individuals seeking to manage existing credit card debt or minimize interest charges on new purchases.
Eligibility
Good (620 - 670)
Recommended Credit Score
$15,000
Required Annual Household Income
Pros
-
0% Balance Transfer rate for a generous 10 months with a low (1%) Balance Transfer fee†
-
13.99%† Purchase Annual Interest Rate
-
A first year annual fee rebate†
-
No annual fee for additional cards (up to 3)
Cons
-
There are other low interest cards available with no annual fee whatsoever
-
Few distinguishing benefits beyond its interest rates
Annual Interest Rates
13.99%†
Purchase
13.99%†
Cash Advance
13.99%†
Balance Transfer
0.00%†
Balance Transfer (Introductory)
25.99%†
Penalty
Fees
$29
Annual Fee
2.50%†
Foreign Transaction
5.00%†
Balance Transfer
$29
Over The Limit Penalty
$42.5
Return Penalty
Rewards
10 cents
up to 10 cents off per litre♢ when you link your Journie Rewards card (terms apply)
Insurance Benefits
$100,000
Travel accident insurance amount
Transfer your credit card balance and get 0% interest for up to 10 months with a 1% transfer fee†
Transfer up to 50% of your assigned credit limit†.
If you choose to carry a balance and you make your minimum payments on time, a balance transfer could save you money on interest.
Take advantage of this 0% introductory interest rate on balance transfers for your first 10 months. You’ll only have to pay a 1% fee† when you transfer your balance from another card to the CIBC Select Visa Card.
This balance transfer offer is only available at the time of your online application†. Simply tick the checkbox to select the balance transfer option when you’re filling out your application.
Once you take advantage of this offer, you'll have a promotional rate balance on your account. As a result, you will lose your interest-free grace period on new purchases unless you pay your amount due, including any promotional rate balances, in full each month. While you will enjoy the promotional rate on the balances you transfer by using this offer, new purchases will be subject to the purchase interest rate.
Our Take
The CIBC Select Visa* Card is a low-interest credit card offering a promotional interest rate on balance transfers for a specified period, subject to a transfer fee. It features a low annual fee and provides basic insurance coverage, making it suitable for individuals seeking to manage existing credit card debt or minimize interest charges on new purchases.
Eligibility
Good (620 - 670)
Recommended Credit Score
$15,000
Required Annual Household Income
Pros
-
0% Balance Transfer rate for a generous 10 months with a low (1%) Balance Transfer fee†
-
13.99%† Purchase Annual Interest Rate
-
A first year annual fee rebate†
-
No annual fee for additional cards (up to 3)
Cons
-
There are other low interest cards available with no annual fee whatsoever
-
Few distinguishing benefits beyond its interest rates
Annual Interest Rates
13.99%†
Purchase
13.99%†
Cash Advance
13.99%†
Balance Transfer
0.00%†
Balance Transfer (Introductory)
25.99%†
Penalty
Fees
$29
Annual Fee
2.50%†
Foreign Transaction
5.00%†
Balance Transfer
$29
Over The Limit Penalty
$42.5
Return Penalty
Rewards
10 cents
up to 10 cents off per litre♢ when you link your Journie Rewards card (terms apply)
Insurance Benefits
$100,000
Travel accident insurance amount
Transfer your credit card balance and get 0% interest for up to 10 months with a 1% transfer fee†
Transfer up to 50% of your assigned credit limit†.
If you choose to carry a balance and you make your minimum payments on time, a balance transfer could save you money on interest.
Take advantage of this 0% introductory interest rate on balance transfers for your first 10 months. You’ll only have to pay a 1% fee† when you transfer your balance from another card to the CIBC Select Visa Card.
This balance transfer offer is only available at the time of your online application†. Simply tick the checkbox to select the balance transfer option when you’re filling out your application.
Once you take advantage of this offer, you'll have a promotional rate balance on your account. As a result, you will lose your interest-free grace period on new purchases unless you pay your amount due, including any promotional rate balances, in full each month. While you will enjoy the promotional rate on the balances you transfer by using this offer, new purchases will be subject to the purchase interest rate.
The MBNA True Line® Mastercard® offers the same 0% APR for 12 months on balance transfers completed within 90 days of account opening as the CIBC Select Visa* but charges a higher balance transfer fee (3% of the balance transferred vs 1%). While CIBC waives its $29 annual fee for the first year only, the MBNA card never charges an annual fee.
| MBNA True Line® Mastercard® | CIBC Select Visa* Card |
|---|---|
|
Annual fee:
$0 |
Annual fee:
$29 (First year annual fee rebate† $0 for up to 3 additional cards.†. (terms apply))† |
|
Interest rates:
12.99% for purchases; 17.99%✪ on balance transfers; 24.99% for cash advances |
Interest rates:
13.99%† Purchase Annual Interest Rate; 13.99%† Cash Advance Annual Interest Rate; 13.99%† Balance Transfer Annual Interest Rate |
|
BT intro APR:
Get a 0% promotional annual interest rate (“AIR”)† for 12 months on balance transfers✪ completed within 90 days of account opening. |
BT intro APR:
Transfer your credit card balance and get 0% interest for up to 10 months with a 1% transfer fee† and a first year annual fee rebate.‡ |
|
Perks:
Up to 10% discount on Avis Rent A Car and Budget Rent A Car |
Perks:
$100,000 Common Carrier Accident Insurance |
| Apply Now | Apply Now |
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.
0.99% intro rate
Welcome Bonus
$0
First Year Value
$0
Annual Value
Welcome Bonus: 0.99% introductory interest rate on balance transfers for the first 9 months (2% fee per cash advance, 13.99% after that), plus no annual fee for the first year ($29 value). Expires Oct 31, 2025
Get this card if you...
-
want to pay down credit card debt
-
want both low interest and a low annual fee
-
appreciate a good welcome offer
Annual Fee & Annual Interest Rates
$29
Annual Fee
13.99%
Purchase
13.99%
Cash Advance
13.99%
Balance Transfer
Our Take
The Scotiabank Value® Visa* Card is a low-interest credit card designed for individuals who may carry a balance, offering a lower annual interest rate on purchases and cash advances compared to standard credit cards.
Eligibility
Fair (300 - 619)
Recommended Credit Score
$12,000
Required Annual Personal Income
Pros
-
Lengthy introductory APR on balance transfers
-
A great low rate everyday
-
Available to applicants with average credit
Cons
-
No rewards program
-
Insurance coverage is an optional extra
-
Carries an annual fee
Annual Interest Rates
13.99%
Purchase
13.99%
Cash Advance
13.99%
Balance Transfer
0.99%
Balance Transfer (Introductory)
Fees
$29
Annual Fee
2.50%
Foreign Transaction
$5
Cash Advance
$29
Over The Limit Penalty
0.99% introductory interest rate on balance transfers for the first 9 months (2% fee per cash advance, 13.99% after that). Plus no annual fee for the first year (after that annual fee $29). |
Our Take
The Scotiabank Value® Visa* Card is a low-interest credit card designed for individuals who may carry a balance, offering a lower annual interest rate on purchases and cash advances compared to standard credit cards.
Eligibility
Fair (300 - 619)
Recommended Credit Score
$12,000
Required Annual Personal Income
Pros
-
Lengthy introductory APR on balance transfers
-
A great low rate everyday
-
Available to applicants with average credit
Cons
-
No rewards program
-
Insurance coverage is an optional extra
-
Carries an annual fee
Annual Interest Rates
13.99%
Purchase
13.99%
Cash Advance
13.99%
Balance Transfer
0.99%
Balance Transfer (Introductory)
Fees
$29
Annual Fee
2.50%
Foreign Transaction
$5
Cash Advance
$29
Over The Limit Penalty
0.99% introductory interest rate on balance transfers for the first 9 months (2% fee per cash advance, 13.99% after that). Plus no annual fee for the first year (after that annual fee $29). |
Compared to the Scotiabank Value® Visa*, the MBNA True Line® offers a longer 0% promotional period (12 months vs 9 months at 0.99%) but with a slightly higher transfer fee. The MBNA card has no annual fee, while Scotiabank charges $29 after the first year. Both cards offer basic purchase protections, with the MBNA featuring a lower ongoing purchase interest rate (12.99% vs 13.99%).
| MBNA True Line® Mastercard® | Scotiabank Value® Visa* Card |
|---|---|
|
Annual fee:
$0 |
Annual fee:
$29 |
|
Interest rates:
12.99% for purchases; 17.99%✪ on balance transfers; 24.99% for cash advances |
Interest rates:
13.99% for purchases, (13.99%) on balance transfers, and 13.99% on cash advances |
|
BT intro APR:
Get a 0% promotional annual interest rate (“AIR”)† for 12 months on balance transfers✪ completed within 90 days of account opening. |
BT intro APR:
0.99% introductory interest rate on balance transfers for the first 9 months (2% fee per cash advance, 13.99% after that), plus no annual fee for the first year ($29 value). |
|
Perks:
Up to 10% discount on Avis Rent A Car and Budget Rent A Car |
Perks:
Discount of up to 25% off base rates at participating AVIS and Budget locations in Canada and the U.S |
| Apply Now | Apply Now |
Disclosures:
-
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:
- Residency: Must be a Canadian resident
- Age: Must be above the age of majority in your province or territory
- Credit score: Good
- Income required: N/A
Unfortunately, the balance transfer promotion offer is not available for residents of Quebec.
Disclosures:
- †, ✪, Terms and Conditions apply.
-
†, ✪, Terms and Conditions apply.
This offer is not available for residents of Quebec. For residents of Quebec, please click here.
Sponsored advertising. MBNA is a division of The Toronto-Dominion Bank (TD) and TD is not responsible for the contents of this site including any editorials or reviews that may appear on this site. For complete information on this MBNA credit card, please click on the “Apply Now” button.
The Toronto-Dominion Bank is the issuer of this credit card. MBNA is a division of The Toronto-Dominion Bank. ®MBNA and other-trademarks are the property of The Toronto-Dominion Bank.
FAQs about the MBNA True Line card
†, ✪, Terms and Conditions apply.
This offer is not available for residents of Quebec. For residents of Quebec, please click here.
Sponsored advertising. MBNA is a division of The Toronto-Dominion Bank (TD) and TD is not responsible for the contents of this site including any editorials or reviews that may appear on this site. For complete information on this MBNA credit card, please click on the “Apply Now” button.
The Toronto-Dominion Bank is the issuer of this credit card. MBNA is a division of The Toronto-Dominion Bank. ®MBNA and other-trademarks are the property of The Toronto-Dominion Bank.
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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†Terms and Conditions apply.