The MBNA Smart Cash World Mastercard® stands out for its impressive cash back offer, especially for those who make regular purchases in gas and groceries. With the first 6 months offering 5% cash back on these categories, followed by 2% thereafter, this card promises a rewarding experience for everyday shoppers. In addition, it comes with a competitive annual fee of just $39, making it an appealing choice for many cardholders.

But it’s not just the cash back that makes this card worth considering. The MBNA Smart Cash World Mastercard® offers additional features such as low-interest rates on certain transactions, generous authorized user perks, and a payment plan that allows users to manage larger purchases with ease. Let’s take a deeper dive into what this card has to offer.

Main information about the Credit Card

The MBNA Smart Cash World Mastercard® is designed to provide a straightforward and rewarding experience for its users. Offering cash back on essential purchases like gas and groceries, as well as on all other eligible transactions, this card helps you earn rewards with minimal effort. The card also offers benefits like low-interest rates and the ability to add authorized users without additional fees.

How does the annual fee work?

Unlike many credit cards that charge high annual fees, the MBNA Smart Cash World Mastercard® has a relatively low fee of just $39 per year. This fee can be paid annually, and it’s a small price to pay for the rewards and benefits this card provides. While some cards waive the annual fee for the first year or under certain conditions, this one maintains a consistent and affordable fee structure.

In addition to the standard fee, the card allows users to add up to nine authorized users at no extra cost. This is especially useful for families or households looking to maximize their benefits without incurring additional charges.

How is the credit limit determined?

For conventional credit cards like the MBNA Smart Cash World Mastercard®, the credit limit is typically determined by the issuing bank based on factors like your income, credit score, and overall financial history. If you have a higher income and good credit, you may qualify for a higher credit limit. For those applying for a prepaid card, the credit limit is decided by the customer’s deposit. The customer is in control of how much they want to load onto the card, giving them flexibility over their spending limit.

Benefits of the Credit Card

The MBNA Smart Cash World Mastercard® comes with a variety of features designed to make your financial life easier while rewarding you for your purchases. Here’s a list of its key benefits:

• 5% cash back on eligible gas and grocery purchases for the first 6 months: This is a standout feature that makes the card particularly appealing to those who spend regularly on fuel and groceries.
• 2% cash back on gas and groceries after the first 6 months: Even after the introductory period, you still enjoy a competitive cash back rate on these purchases.
• 1% cash back on all other eligible purchases: This ensures you continue to earn rewards on everything else you buy with the card.
• Low annual fee: At just $39, the fee is much lower than many similar cards.
• Up to nine authorized users at no extra cost: This makes it easier for families or households to benefit from a single card.

Key Advantage: Cash Back Rewards

One of the biggest draws of the MBNA Smart Cash World Mastercard® is its cash back program. The introductory 5% on gas and grocery purchases is a great perk, especially for individuals who spend heavily in these categories. Once the introductory period ends, the 2% cash back continues, making this a rewarding card even after the first 6 months.

For every $1 spent on eligible purchases, you earn cash back that can be redeemed or used to offset your balance. This makes the card an excellent choice for those who want to earn rewards without complicating the process.

Disadvantages

While the MBNA Smart Cash World Mastercard® offers plenty of perks, no card is without its drawbacks. Here are a few potential downsides to consider:

• Interest rates on purchases, cash advances, and balance transfers: While the card offers great rewards, the interest rates are relatively high, particularly for cash advances and balance transfers.
• Spending cap on cash back categories: The $500 monthly limit on gas and grocery purchases means that if you spend more than that, you won’t earn the full 5% or 2% cash back on those categories.

Key Disadvantage: Interest Rates

One of the main disadvantages of the MBNA Smart Cash World Mastercard® is its interest rates. While it offers a low annual fee and rewarding cash back, the rates on purchases (19.99%), cash advances (24.99%), and balance transfers (22.99%) can add up quickly if the card is not paid off in full each month. It’s important to use the card responsibly and pay off balances promptly to avoid accruing high interest charges.

Who can apply for this credit card?

To apply for the MBNA Smart Cash World Mastercard®, applicants must meet a few basic requirements:

• Minimum income: Your personal annual income must be at least $60,000, or your household income must be $100,000 or more.
• Credit score: A good credit score is typically required to qualify for this card.
• Age requirement: Applicants must be at least 18 years old.
• Residency: The card is available to residents of Ontario (other regions may have different terms).

The MBNA Smart Cash World Mastercard® is not available to individuals with a negative credit history, but if your credit is in good standing, the approval process is relatively straightforward.

How to apply for the MBNA Smart Cash World Mastercard®

Applying for the MBNA Smart Cash World Mastercard® is easy, and there are several ways to do it.

Online Application

The quickest way to apply is by visiting the MBNA website. The application process is straightforward and can be completed within minutes. You’ll need to provide basic personal and financial information, such as your income and employment status.

Mobile Application

You can also apply via the MBNA mobile app. Simply download the app, log in, and follow the steps to complete your application. This is an ideal option for those who prefer to manage their finances on the go.

In-person Application

For those who prefer a more personal touch, applications can also be made at an MBNA branch or affiliated location. A representative will guide you through the process and help with any questions you may have.