Do you want to have a credit card for which you do not have to pay any monthly/annual fee but from which you can actually earn some bucks through cash-back programs (these are like the rewards points – the difference being the credit is accrued in real dollar terms, not just points)?
Well, MBNA’s Smart Cash Card in Canada is one of these.
For whatever reason, this is not advertised. May be the company does not want to overtly promote it. I am not sure about the reports that it is offered only to those who already have an MBNA Master Card.
But the Smart Card comes with the following:
For the first six months:
5% cash-back on groceries and gas for the first $600.00. Thereafter 3%.
1% cash-back on everything else.
After the six months:
3% cash-back on groceries and gas for the first $600.00. Thereafter 1%.
1% cash-back on everything else.
As well, if you already have another MBNA card, you could ask them to reduce your credit limit in that, and transfer the amount you asked to be reduced in the first card as the credit limit for the Smart Card. It will help maintain your credit rating.
MBNA toll free number is: 1-800-347-6262
Their website: mbna.ca
