MBNA True Line Mastercard: a low-interest card with no annual fee
For people who want a simple credit card with a low interest rate on purchases, the MBNA True Line Mastercard offers a low-cost option with no annual fee.
The card focuses on keeping borrowing costs down rather than on rewards, which can help people who sometimes carry a balance.
Pros and Cons of the Credit Card
Pros
- A 12.99% interest rate on purchases, lower than many standard credit cards;
- No annual fee;
- Add up to 9 authorized users at no additional annual fee;
- Use available credit to transfer funds to your chequing account, and pay for eligible purchases of $100 or more in monthly instalments with the MBNA Payment Plan (conditions and fees apply);
- Save at least 10% off base rates at participating Avis and Budget locations in Canada and the U.S., and at least 5% internationally.
Cons
- No rewards or cash back program;
- The standard balance transfer rate is 17.99%, higher than the purchase rate, and each balance transfer has a 3% fee (minimum $3.50);
- Cash advances are charged 24.99% interest;
- A 2.5% foreign transaction fee applies to purchases in foreign currencies;
- The card doesn’t include insurance coverage, such as purchase protection or travel insurance.
Credit Card Fees and Charges
The MBNA True Line Mastercard has a low-cost structure with no annual fee.
The interest rate on purchases is 12.99%, lower than the rate on many standard credit cards in Canada.
Balance transfers have a standard interest rate of 17.99%, and each transfer carries a fee of 3% of the amount transferred, with a minimum of $3.50. Keep both in mind if you’re thinking of moving debt from another card.
Cash advances have a higher interest rate of 24.99%. A 2.5% foreign transaction fee applies to purchases in other currencies, which can add up if you shop or travel abroad often.
Other fees may apply, as described in the MBNA Account Agreement. Managing your payments carefully helps you avoid additional costs.
- Annual fee: $0;
- Authorized users: $0, up to 9;
- Interest rate on purchases: 12.99%;
- Interest rate on balance transfers: 17.99%;
- Balance transfer fee: 3% of the amount transferred, minimum $3.50;
- Interest rate on cash advances: 24.99%;
- Foreign transaction fee: 2.5%.
Rates and fees 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.
About MBNA
MBNA is a division of The Toronto-Dominion Bank (TD), one of the largest banks in Canada, and TD is the issuer of this credit card.
MBNA specializes in credit cards, including low-interest, cash back and rewards cards. Its corporate office is in Ottawa, Ontario.
Application
You can apply for the MBNA True Line Mastercard online on the MBNA website.
To be eligible, you must be a Canadian resident and have reached the age of majority in your province or territory. You’ll need to provide personal and financial information, such as your name, address and income.
MBNA will review your credit history and financial information to decide on your application. Once you receive and activate your card, you can start using it.
Why Apply for This Credit Card?
The main reason to consider the MBNA True Line Mastercard is its low interest rate on purchases, which can help you pay less interest if you sometimes carry a balance.
For example, if you carry a $1,000 purchase balance for a year, a 12.99% rate would cost about $70 less in interest than a card charging 20%.
Keep in mind that the lower rate applies to purchases. If you move debt from another card, the balance transfer rate of 17.99% and the 3% transfer fee apply instead.
The card is simple and has no annual fee, but it doesn’t earn rewards or include insurance.
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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 and risk analysis by the issuing bank (MBNA / TD Bank Group). Finvyu Editorial Team.