MBNA Rewards Platinum Plus: rewards with no annual fee
The MBNA Rewards Platinum Plus Mastercard is designed for Canadians who want to earn flexible rewards on everyday household spending without paying an annual fee.
The card keeps things simple: you earn more points on common purchases like groceries, restaurants and household bills, and there’s no yearly fee to keep it.
Below, you’ll find the card’s benefits, earning caps, limitations and main fees, so you can understand how it works before applying.
Pros and cons of the MBNA Rewards Platinum Plus Mastercard
Looking at both the strengths and the drawbacks can help you decide whether this no-fee card fits your budget and spending habits.
Here is an overview of the MBNA Rewards Platinum Plus Mastercard:
Pros:
- No annual fee ($0);
- Higher earn rate: earn 2 points per $1 on eligible restaurant, grocery, digital media, membership and household utility purchases, up to $10,000 in annual purchases in each category;
- Base rate: earn 1 point per $1 on all other eligible purchases;
- Birthday Bonus: each year, receive bonus points equal to 10% of the points you earned in the 12 months before your birthday month, up to 10,000 points;
- Flexible redemption: points don’t expire as long as your account is open and in good standing, and you can redeem them for travel, cash back, brand-name merchandise, gift cards or charitable donations;
- Includes Mobile Device Insurance of up to $1,000, Purchase Assurance for 90 days and Extended Warranty Benefits, which double the manufacturer’s warranty for up to one additional year;
- Save at least 10% off base rates at participating Avis and Budget locations in Canada and the U.S., and at least 5% internationally.
Insurance coverage is subject to the terms, limits and exclusions in the Certificate of Insurance provided with the card. To be eligible for Mobile Device Insurance, you must pay your monthly mobile bills with the card, or at least 75% of the device’s purchase price.
Cons:
- Earning limits: once you spend $10,000 in a 2x category in a calendar year, purchases in that category earn 1 point per $1;
- Redemption value varies: points are worth $1 per 100 points for travel, but only $1 per 200 points for cash back or charitable donations, so cash redemptions give you half the value;
- Foreign transaction fee: a 2.5% fee applies to purchases in currencies other than Canadian dollars;
- The card doesn’t include travel insurance;
- The interest rate is 21.99% on purchases and 22.99% on cash advances and balance transfers.
What are the card’s main fees?
Below are the main fees and interest rates of the MBNA Rewards Platinum Plus Mastercard, based on the information provided by MBNA:
- Annual fee: $0;
- Interest on purchases: 21.99% annually;
- Interest on cash advances: 22.99% annually;
- Interest on balance transfers: 22.99% annually;
- Foreign currency conversion fee: 2.5%.
Rates, fees and conditions checked on September 22, 2026, against the official MBNA website. MBNA notes that rates and fees may vary by province. Confirm current terms on the MBNA website before applying.
Who is the issuing bank for the MBNA Rewards Platinum Plus Mastercard?
The MBNA Rewards Platinum Plus Mastercard is issued by The Toronto-Dominion Bank. MBNA is a division of TD, one of Canada’s “Big Five” banks, and specializes in credit cards, including low-interest, cash back and rewards cards.
To apply, you must be a Canadian resident and have reached the age of majority in your province or territory. Approval depends on MBNA’s credit assessment.
Why apply for the MBNA Rewards Platinum Plus Mastercard?
This card can be a good choice for Canadians who want to earn rewards on their regular monthly expenses without paying an annual fee.
Purchases such as groceries, restaurants, digital subscriptions, memberships and household utility bills earn 2 points per $1, up to the annual limit in each category. The Birthday Bonus also adds 10% of the points you earned in the previous 12 months.
To get the most value, keep in mind that points are worth twice as much when redeemed for travel than for cash back. Mobile device insurance and purchase protection add extra value for a no-fee card.
Like what you see? Then find out more details and requirements about the MBNA Rewards Platinum Plus credit card.
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Disclaimer: This site is independent and strictly informational, and its content does not constitute financial advice. Finvyu is not affiliated with MBNA or TD Bank. We do not guarantee credit card approval, which is solely subject to a credit check, income verification and risk analysis by the issuing bank (MBNA / TD Bank Group). Finvyu Editorial Team.