MBNA Rewards World Elite Mastercard
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If you’re in the market for a rewards credit card that offers exceptional rewards, then the MBNA Rewards World Elite® Mastercard is worth considering. This card’s rewards program is one of the best, with an average of 4.1% cash back on eligible purchases. Moreover, if you redeem the points for travel bookings, the cash back increases to an impressive 5%.
However, it’s essential to note that this card comes with a high annual fee and a high secondary card fee. If you are a frequent spender, these fees can be easily covered if you spend at least $1,000 per month. However, if you spend less than $1,000 per month on eligible purchases using this card, it may not be the most suitable option for you. In summary, the MBNA Rewards World Elite® Mastercard is a fantastic option for those who want to maximize their rewards and don’t mind paying higher fees.
Card Summary
This credit card comes with an annual fee of $120, and an additional cardholder can be added for $50. The purchase rate is set at 19.99%, while the cash advance rate is 24.99%, and the balance transfer rate is 22.99%. To be eligible for this credit card, one must have an annual income of $80,000 or a household income of $150,000 or more. Additionally, there is a bonus offer available for qualified applicants.
Rewards Summary
MBNA Rewards World Elite Mastercard offers an amazing welcome bonus of 20,000 points, which is valued at approximately $165. You can earn this bonus when you spend $2,000 within the first 90 days of opening your account. That’s a great way to start earning rewards right away!
And that’s not all! By enrolling in paperless e-statements, you can earn another 10,000 points, which is valued at approximately $80. That’s a quick and easy way to start earning rewards without spending anything.
Once you start using your card, you can earn 5 points for every dollar you spend on eligible purchases at restaurants, on digital media, groceries, memberships, and household utilities. This earning rate is limited to a $50,000 spend, after which you’ll earn 1 point for every dollar spent. So, you can earn rewards on your everyday purchases!
MBNA Rewards World Elite Mastercard also offers a birthday bonus! On your birthday, you’ll receive 10% bonus points of your total points earned in the 12 months prior to your birthday date. This bonus is limited to 15,000 points, so you can enjoy a special reward on your special day.
The rewards ratio is approximately equal to 4.1% cash back, which is a great deal! And if you love to travel, you can redeem your points for travel at a rate of 100 points per dollar, which is equivalent to 5% cash back. So, you can enjoy your travels and earn rewards at the same time!
Benefits Summary
Make the most of your credit card rewards with our flexible point redemption options, including the ability to receive cash back. You can also rest easy knowing that you have access to trip and legal assistance whenever you need it. Plus, MBNA Rewards World Elite Mastercard offers convenient payment plans for those big-ticket purchases that you’ve been eyeing. And if you’re planning a road trip, take advantage of our exclusive discounts on car rentals with Avis & Budget. Best of all, our Mastercard Zero Liability policy means that you’re protected from unauthorized purchases.
Insurance Summary
- Travel Medical Insurance.
- Baggage Insurance.
- Mobile Device Insurance.
- Car Rental Insurance.
- Price Protection Service.
- Flight/Trip Delay Insurance.
Editor’s Review:
MBNA Rewards World Elite® Mastercard Review
Overview
The MBNA Rewards World Elite® Mastercard is an excellent option for those seeking to maximize their rewards. With a top-tier rewards program and impressive earning rates, this card is ideal for frequent spenders who can take advantage of its benefits. However, it comes with a relatively high annual fee and secondary cardholder fee, which can be offset by consistent spending.
Key Features
Interest Rates
- Purchases: 19.99%
- Cash Advances: 24.99%
- Balance Transfers: 22.99%
Rewards Program
- Welcome Offer: Up to 30,000 points (20,000 points after spending $2,000 in the first 90 days, 10,000 points for enrolling in e-statements)
- Earning Rates:
- 5 points per dollar on eligible purchases (restaurants, digital media, groceries, memberships, and household utilities) up to $50,000 annually
- 1 point per dollar on all other purchases after the $50,000 limit
- Birthday Bonus: 10% bonus points of total points earned in the prior 12 months, up to 15,000 points
Fees
- Annual Fee: $120
- Additional Cardholder Fee: $50
- Income Requirement: $80,000 individual or $150,000 household
Benefits
- Flexible point redemption including cash back
- Trip and legal assistance
- Convenient payment plans for large purchases
- Exclusive car rental discounts with Avis & Budget
- Mastercard Zero Liability protection
Insurance Coverage
- Travel Medical Insurance
- Baggage Insurance
- Mobile Device Insurance
- Car Rental Insurance
- Price Protection Service
- Flight/Trip Delay Insurance
Pros and Cons
Pros:
- High earning rates (5 points per dollar) on everyday categories
- Generous welcome bonus (up to 30,000 points)
- Birthday bonus adds extra rewards annually
- Comprehensive insurance coverage for travel and purchases
- Flexible redemption options for cash back and travel
Cons:
- High annual fee of $120
- Additional cardholder fee of $50
- Income requirement may be restrictive for some applicants
- High-interest rates on cash advances and balance transfers
Who is this card for?
This card is perfect for frequent spenders who can maximize the high earning rates and take full advantage of the travel benefits. It’s especially beneficial for those who spend significantly on dining, groceries, and digital media, and who prefer flexibility in redeeming their rewards.
Comparison with Similar Cards
| Feature | MBNA Rewards World Elite® Mastercard | Scotia Momentum Visa Infinite | BMO World Elite Mastercard |
|---|---|---|---|
| Annual Fee | $120 | $120 | $150 |
| Interest Rate | 19.99% | 19.99% | 19.99% |
| Welcome Offer | Up to 30,000 points | Up to 10% cash back | Up to 40,000 points |
| Earning Rate | 5 points per dollar on eligible purchases | 4% cash back on groceries and recurring bills | 3 points per dollar on travel and dining |
| Travel Benefits | Flexible point redemption, car rental discounts | None | Lounge access, travel credits |
| Insurance Coverage | Comprehensive | Comprehensive | Comprehensive |
Final Verdict
The MBNA Rewards World Elite® Mastercard scores 9/10. It offers a robust rewards program with high earning potential and valuable travel and purchase benefits. While the annual fee and income requirement may be high, the rewards and benefits can easily justify the cost for frequent spenders.
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Disclaimer: Refer to the credit card official web page for the latest up to date rates, terms, and conditions. Nothing in the Site constitutes professional and/or financial advice, nor does any information on the Site constitute professional and/or financial advice.
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