MBNA WorldPoints MasterCard Review

The WorldPoints MasterCard series was recently introduced by MBNA Canada.  This replaces the old Travel Rewards Elite card.  Within the WorldPoints series is a no fee card, a student card, and an annual fee card.

The WorldPoints® MasterCard® Credit Card is the no fee card that still offers generous rewards points and the flexibility to redeem your points for pretty much anything you want.

Earn 1,000 WorldPoints after your purchase with the MBNA WorldPoints MasterCard and continue to earn one WorldPoint for every dollar you spend.  Cardholders will also receive 1,000 bonus WorldPoints every year on the anniversary of opening their account.

MBNA WorldPoints MasterCard details

• Cardholders receive 1 WorldPoint for every $1 spent on qualifying purchases.
• Earn extra points – Receive 1,000 bonus points after your first purchase.  Plus, receive 1,000 bonus points every year on the anniversary of your account.
• Enjoy free online access to your credit card account – View up to the minute transactions and your MBNA WorldPoints rewards balance.
• Earn points faster with free additional cards
• Zero liability – If your card is ever lost or stolen, we will reimburse you for any unauthorized transactions.
• Fraud monitoring – Designed to block potential fraud if abnormal patterns are detected.
• No annual fee
• 19.99% interest rate

Redeeming WorldPoints

The WorldPoints rewards program is very flexible and allows you to redeem your WorldPoints for cash back, travel, gift cards from top retailers, and merchandise.

When you choose the cash back option, you can redeem 5,000 WorldPoints for $50. You also get to choose to receive your cash back through a statement credit, electronic deposit to your bank account, or a cheque.

When you choose the travel option, you can redeem 100 points per dollar for travel booked through the WorldPoints rewards center.  This includes flights, hotels, cruises, packages, and car rentals.  If you don’t have enough WorldPoints to pay for the entire cost of travel, you can redeem a portion of the travel.  There is a booking fee of $25 if you redeem less that 10,000 points for travel.

When you redeem points for gift cards and merchandise from the WorldPoints rewards catalog, you’ll likely pay 6,000 WorldPoints for a $50 item, which isn’t as good of a return as the cash back or travel options.

MBNA WorldPoints MasterCard: How Much Can I Earn?

I like to make all of my purchases with a rewards credit card (and pay it off in full each month).  Groceries and gas are simple, but you can also set-up automatic bill payments with your MBNA WorldPoints MasterCard so that your cable, cell phone and utility bills are all helping you earn rewards.

I spend about $2,600 per month on my credit card.  Here’s what my potential rewards will be from the MBNA WorldPoints MasterCard in the 1st year:

• Bonus points after first purchase – 1,000
• 1 point for every $1 spent – 31,200
• Anniversary bonus points – 1,000

Total cash back (or travel) rewards in first year = $332

Final thoughts

With the MBNA WorldPoints MasterCard, you earn slightly more than the standard 1% rebate offered by other no fee cards like the PC MasterCard.  Unlike most rewards cards, the MBNA WorldPoints MasterCard offers flexible ways to redeem your points for cash, travel and merchandise (although the cash back option is the best deal).

MBNA WorldPoints MasterCard is a good fit for consumers who want credit card rewards without the hassle of paying an annual fee.

Sign up for the WorldPoints® MasterCard® Credit Card.