# MBNA cutting cash rewards by 50%



## STech (Jun 7, 2016)

Anyone else use the card and get the latest announcement? Cash rewards are being cut from 1 to 0.5%. It wasn't a great card to begin with, and now it's a dud. But man is this ever getting annoying with credit cards.


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## james4beach (Nov 15, 2012)

I'm only using my MBNA card because I'm close to the $50 payout threshold, but after I hit that point, I don't plan on using it any more. This card has been going down hill ever since TD bought the cards from MBNA.

These days I've been using my PC Financial World Elite Mastercard which is 1% points on everything and 3% for the Loblaws stores, plus rental car collision insurance. But I'm looking for other good no annual fee cards that might pay more than 1% cash back. Any ideas?


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## larry81 (Nov 22, 2010)

which card ? MBNA have about a dozen credit card. Please provide more information !


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## 319905 (Mar 7, 2016)

STech said:


> Anyone else use the card and get the latest announcement? Cash rewards are being cut from 1 to 0.5%. It wasn't a great card to begin with, and now it's a dud. But man is this ever getting annoying with credit cards.


Got the notification in the mail, had forgotten I still even had that card ... strictly a backup. OT about cards, nothing annoying about my PC MasterCard ... about every 3rd time I go for groceries there's a $10 credit available ... nice :greedy_dollars:


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## STech (Jun 7, 2016)

larry81 said:


> which card ? MBNA have about a dozen credit card. Please provide more information !



MBNA Smart Cash Master Card. I won't be using it anymore, and might just keep it as a backup. I'm still waiting on Brim Financial, but might have to shop around.......again.


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## FIRE40 (Sep 27, 2017)

Their World Elite Card is slashing the cash back, but not by as much. It used to be 2% on everything. They are cutting this by ~20% and charging an extra $31 per year. I'll likely be looking for a new card.


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## seh (Nov 10, 2014)

MBNA Rewards Mastercard letter came yesterday. Annual fees *increase* by 35%! (from $89 to $120). Cashback rewards *reduced* by 20%, from 2.0% of spend to 1.67%. Time to shop around!


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## james4beach (Nov 15, 2012)

Does anyone know if they have *added* an annual fee on any of their previously no annual fee cards?


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## Retiredguy (Jul 24, 2013)

MBNA - Alaska Airline card annual fee going up from $75 to $100.


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## m3s (Apr 3, 2010)

STech said:


> I'm still waiting on Brim Financial, but might have to shop around.......again.


BRIM did a credit check on me and was supposed to mail the card this month but I cancelled my application

I still have a dormant MBNA Smart Cash that I haven't used for years. It's the oldest card on my credit report


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## larry81 (Nov 22, 2010)

I am looking for a new cashback mastercard  Anyone have suggestions ?


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## leeder (Jan 28, 2012)

larry81 said:


> I am looking for a new cashback mastercard  Anyone have suggestions ?


Try the Rogers World Elite M/C. FX transactions get 4% cash back (less 2.5% FX fee is still 1.5% return). 2% on Rogers products and services and 1.75% on any other purchase. If you don't use any Rogers service, you can call them to provide a statement credit before December 1. The credit will show up in your credit card statement by next January, as long as the credit is greater than $20. It's a shame the cash back comes once a year, but it's better than nothing.

I doubt this card will get devalued in the short term, as it was just introduced in May 2018.


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## indexxx (Oct 31, 2011)

Got that notice Monday in the mail. I always use my MBNA card, for almost every purchase. It does say the gas and grocery award remains the same, so at least that's something. Think I'll look around now too...


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## humble_pie (Jun 7, 2009)

the topic heading is misleading ...

they're not cutting 2% gas & groceries, in fact they're raising the upper limit cap, ie client will still receive the 2% reward but more purchases will be eligible

on the former 1% now down to .05% on other purchases, i believe the cap limit has been raised also, so clients w heavier spending patterns might end up w close to the same dollar reward in the end

me i don't get the constant shopping around for card deals although i confess to having popped for a couple of those first-year-no-fee promos w special benefits while never intending to start paying the fees in the 2nd year. So i don't see what's so wrong about MBNA even if other purchase rewards have been cut. Service is great, cash rewards are religiously credited to account every month, that Rogers card described just above has far too many hoops - like delayed after-year-ends cash reward - for a net 1.5% return to be interesting to anybody other than a rogers customer (Q: why would anybody be happy w 1.5% on gas/groceries when 2% is easily available)


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## leeder (Jan 28, 2012)

it's 1.75% for every day purchases, including gas, groceries and any other expenses that are not affiliated with Rogers. No annual fee either. In terms of jumping through hoops, it's not like it's a complicated process. You can maximize your rewards by having cards that specialize in areas - one card that pays wells on gas and groceries, one card that pays well with restaurants and one that pays well for all other things, etc. Nothing wrong with that, IMHO.


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## humble_pie (Jun 7, 2009)

leeder said:


> it's 1.75% for every day purchases, including gas, groceries and any other expenses that are not affiliated with Rogers. No annual fee either. In terms of jumping through hoops, it's not like it's a complicated process. You can maximize your rewards by having cards that specialize in areas - one card that pays wells on gas and groceries, one card that pays well with restaurants and one that pays well for all other things, etc. Nothing wrong with that, IMHO.




gotcha the 1.5% applies to FX transactions only - although not the best deal for parties that travel a lot since they are seeking out zero FX cards (so far ian & m3s seem to be the go-to resources on these)


how is 1.75% reward on groceries, not rebated until following year, better than 2% reward on groceries rebated every month though


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## james4beach (Nov 15, 2012)

After my previous experiences with Rogers over the years, I just don't trust them. From their telco services and Fido I've found that they are extremely tricky in their caveats. I feel this is a "fool me once... fool me twice" kind of scenario. I've caught them shortchanging me too many times over the decades and I'm not falling for it again.

What would be the next best $0 fee cash rewards card after Rogers?


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## Spudd (Oct 11, 2011)

humble_pie said:


> gotcha the 1.5% applies to FX transactions only - although not the best deal for parties that travel a lot since they are seeking out zero FX cards (so far ian & m3s seem to be the go-to resources on these)


It's 1.5% *cash back* on FX transactions making them a net positive. That's better than zero FX unless the zero FX card also has rewards.

Agreed on the gas/groceries. I hold this card but I only use it for FX (and I am a Rogers customer so that helps).


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## Spudd (Oct 11, 2011)

james4beach said:


> After my previous experiences with Rogers over the years, I just don't trust them. From their telco services and Fido I've found that they are extremely tricky in their caveats. I feel this is a "fool me once... fool me twice" kind of scenario. I've caught them shortchanging me too many times over the decades and I'm not falling for it again.
> 
> What would be the next best $0 fee cash rewards card after Rogers?


I like the Tangerine card. It gives 2% cash back in up to 3 categories (2 categories by default, 3 if you choose to have your cash deposited to a Tangerine account instead of on your statement), and 0.5% on everything else. 

My personal system is Tangerine for my 3 categories, TD first class visa (free with my fancy bank account, gives 1.5% cash back towards travel) for everything else, Rogers card for foreign purchases.


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## m3s (Apr 3, 2010)

Spudd said:


> It's 1.5% *cash back* on FX transactions making them a net positive. That's better than zero FX unless the zero FX card also has rewards.
> 
> Agreed on the gas/groceries. I hold this card but I only use it for FX (and I am a Rogers customer so that helps).


I've had to ask hotels to reverse $$$ erroneous FX charges. That would wipe out any advantage of a 1.5% reward over 0% FX

Any time you return something you'd get hit with the FX fee twice and no reward


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## Spudd (Oct 11, 2011)

m3s said:


> I've had to ask hotels to reverse $$$ erroneous FX charges. That would wipe out any advantage of a 1.5% reward over 0% FX
> 
> Any time you return something you'd get hit with the FX fee twice and no reward


True, good point.


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## leeder (Jan 28, 2012)

humble_pie said:


> how is 1.75% reward on groceries, not rebated until following year, better than 2% reward on groceries rebated every month though


I factored in the annual fee in my calculation cuz that's a fixed cost, unless people are smart to somehow get it waived. Hypothetically, if I spend $25,000 on just gas and groceries on a 2% return and the annual fee is $99, then I get $401 ($25,000x2%-$99). If I get 1.75% without any annual fee, then I would get $437.50 annually ($25,000x1.75%). Note that I'm not factoring in things like present value of money, etc., cuz i don't want my brain to hurt too much.


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## leeder (Jan 28, 2012)

james4beach said:


> After my previous experiences with Rogers over the years, I just don't trust them. From their telco services and Fido I've found that they are extremely tricky in their caveats. I feel this is a "fool me once... fool me twice" kind of scenario. I've caught them shortchanging me too many times over the decades and I'm not falling for it again.
> 
> What would be the next best $0 fee cash rewards card after Rogers?


Haven't had any issues with the Rogers card so far. Made a FX transaction and have purchased every day things with it... the cash back has been correct so far! Best no fee after is probably Tangerine with the option to apply 2% in a few categories (as previously mentioned by Spudd). Considering the no FX fee, I don't mind Home Trust either. It also has free roadside assistance and provides similar coverage as basic CAA (or at least it's similar to what we have here in Alberta with AMA). Only crappy thing is the card is not too advanced - no tap allowed; can't change PIN; very limited online account. I've also heard people have had issues travelling abroad with that card.

Another card to consider is the SimplyCash Card from AMEX. Pays 1.25% flat with no annual fee.


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## humble_pie (Jun 7, 2009)

leeder said:


> I factored in the annual fee in my calculation cuz that's a fixed cost, unless people are smart to somehow get it waived. Hypothetically, if I spend $25,000 on just gas and groceries on a 2% return and the annual fee is $99, then I get $401 ($25,000x2%-$99). If I get 1.75% without any annual fee, then I would get $437.50 annually ($25,000x1.75%). Note that I'm not factoring in things like present value of money, etc., cuz i don't want my brain to hurt too much.



no pain brain over here in this heat wave too ... but the gas/groceries combos w 2% rewards & NO FEES would return $500 on $25,000 purchases

it seems there are at least 2 of these basic gas/groceries 2%ers with no fees, MBNA & tangerine


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## leeder (Jan 28, 2012)

Which card from MBNA gives 2% and no annual fees? With Tangerine, the issue for me is the 0.5% for any other purchase whereas with Rogers you get the 1.75%.


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## humble_pie (Jun 7, 2009)

leeder said:


> Which card from MBNA gives 2% and no annual fees?



why the card we talkin about, the Smart card






> With Tangerine, the issue for me is the 0.5% for any other purchase whereas with Rogers you get the 1.75%.


tangerine customers get 2% rewards on all purchases from 3 major categories, no? 

a little tweaking & a MBNA/tangerine card pair should allow a client to cash back 2% from 5 different categories. In theory this sounds great but a joker could be the cap on the spending limits. The MBNA 2% cash reward is only for the first $400 in expenditure per month at present. It's slated to increase to $500 later this year. Spend more than these limits & the balance is rewarded @ 1%.

.


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## leeder (Jan 28, 2012)

humble_pie said:


> why the card we talkin about, the Smart card


Ahh, gotcha. I was thinking of the MBNA rewards card. The Smart Cash Platinum still has a $39 annual fee for new applicants though.  I don't have that card, but I vaguely recall that there's a cap on non-grocery/gas expenditures as well? I could be wrong. You're right, though, that it's a solid combination.

Costco Capital One Mastercard might be a good choice as well, especially for those who have Costco membership.


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## scorpion_ca (Nov 3, 2014)

I have received a letter from MBNA today and it's a good news for me though they will be reducing the base earn rate in Sep, 2018. However, they will be keeping 2% cash back for gas and groceries as well as increasing the spend cap amount from $400 to $500. This card doesn't have any annual fee and I have been using it mostly for the purchase of gas and groceries for the last couple of years.


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## humble_pie (Jun 7, 2009)

one thing i've learned from offering 2 cents to this thread is that the much-bruited 2% reward on gas & groceries at MBNA has a remarkably low cap. Cap was/still is $400 but will rise to $500 later this year.

any purchases above this low cap will be rewarded at 1%

it's inevitable that any household of 4 persons & up will spend more than $400 each month on gas & groceries. Most will spend at least $1500. Which will mean $1100 to be rewarded at 1%.

one could always have a 2nd CC which also has a gas & groceries section. Possibly even a 3rd would be necessary.

i'm imagining that the ultra-high-fee credit cards also have high caps on purchases that are eligible for reward? is that how it works?

(laughter) one can see how the CC companiies are all sniftering us in the end. What with the fees, the spending caps & the tricky rewards, probably the mass average they're rebating to consumers is not much more than 1%. Although i can see how a truly smart consumer like Spudd could work up a system (hers is upthread) that will do better.


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## capricorn (Dec 3, 2013)

I was planning to keep my MBNA rewards card even after the fees increase from 89 to 120 and the rewards redemption decreasing. 
Reading this thread I plan to look into Costco capital one mastercard now.


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## indexxx (Oct 31, 2011)

I might move over to PC Financial MC. I buy the majority of my groceries at Superstore as well as all my gas- there are two near my place. Pretty good rewards- I looked briefly last night but don't remember the specifics offhand; I'll do a more in-depth comparison.


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## scorpion_ca (Nov 3, 2014)

indexxx said:


> I might move over to PC Financial MC. I buy the majority of my groceries at Superstore as well as all my gas- there are two near my place. Pretty good rewards- I looked briefly last night but don't remember the specifics offhand; I'll do a more in-depth comparison.


As you shop at Superstore, you should have their MC to receive PC Optimum points. PC World Elite No fee MC is a killer if you shop at Loblaws/Superstore/NoFrills/Shoppers Drug Mart.


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## scorpion_ca (Nov 3, 2014)

humble_pie said:


> any purchases above this low cap will be rewarded at 1%
> 
> it's inevitable that any household of 4 persons & up will spend more than $400 each month on gas & groceries. Most will spend at least $1500. Which will mean $1100 to be rewarded at 1%.


Any purchases above the $500 low cap will be rewarded at 0.5% from September onward.


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## STech (Jun 7, 2016)

Got an email this morning to say my Brim card is on the way. Good timing. So long MBNA. I hope Brim is worthy and sticks around for a while to come.


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## BC Eddie (Feb 2, 2014)

Yeah I have had mine for a week now (the zero fee version of the card). So far, compared to Home Trust, it is better:

No additional foreign currency exchange fee (same as HT)
1% paid on all purchases (even foreign) (same as HT )
Free Boinfo WIFI service (Brim only)
You can set your own PIN Yeah! (Brim only)
Higher credit limit to start (HT only allowed $5K Brim $13K)


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## james4beach (Nov 15, 2012)

I'm using PC World Elite for everything right now, but the Brim ones look interesting. I shop so much at Loblaws/Superstore that PC points are effectively as good as cash, to me.

Are people going with the basic Brim card (the $0 annual fee one)? And how do you redeem Brim reward points, what can they be converted into?


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## STech (Jun 7, 2016)

BC Eddie said:


> Yeah I have had mine for a week now (the zero fee version of the card). So far, compared to Home Trust, it is better:
> 
> No additional foreign currency exchange fee (same as HT)
> 1% paid on all purchases (even foreign) (same as HT )
> ...


I find the lack of pay pass on HT Visa annoying. I hope the Brim card has it.


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## bgc_fan (Apr 5, 2009)

james4beach said:


> I'm using PC World Elite for everything right now, but the Brim ones look interesting. I shop so much at Loblaws/Superstore that PC points are effectively as good as cash, to me.
> 
> Are people going with the basic Brim card (the $0 annual fee one)? And how do you redeem Brim reward points, what can they be converted into?


I went with the basic Brim card. The reward points can be converted to credit on account (1 point = 1 cent). It doesn't seem to require a minimum redemption amount though I haven't actually done so.

Plan on using it as a backup foreign behind hometrust, and using it as my Amazon card as it has an effective 2% cash back at Amazon.


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## BC Eddie (Feb 2, 2014)

Just tried downloading transactions from Brim online and it appears they are only offering the download files in Excel (.xlsx) format and I really want Quicken (.qfx).


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## m3s (Apr 3, 2010)

BC Eddie said:


> Just tried downloading transactions from Brim online and it appears they are only offering the download files in Excel (.xlsx) format and I really want Quicken (.qfx).


There are CSV to QIF converters out there, then you can import QIF to Quicken. I have to do this for some US banks because Canadian Quicken won't accept US .qfx files


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## STech (Jun 7, 2016)

Got my Brim card today. Easy to activate and setup a pin. Great everyday card with some cool perks :encouragement:


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