MBNA Smart Cash Platinum Plus Mastercard
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The MBNA Smart Cash Platinum Plus Mastercard is one of the top cash back credit cards with no annual fee. It offers a high cash back rate of 2% on all eligible grocery and gas purchases, making it especially beneficial if you frequently spend in these categories. For all other purchases, the cash back rate is lower compared to other cash back cards. However, if your primary expenses are on gas and groceries, the MBNA Smart Cash Platinum Plus Mastercard could be a highly rewarding choice.
Welcome Offer: You can earn 5% cash back on eligible gas and grocery purchases for the first 6 months with the MBNA Smart Cash Platinum Plus Mastercard. However, there is a $500 spending cap each month, meaning you will earn 5% cash back on up to $500 in gas and grocery purchases each month. After reaching the cap, the cash back rate reverts to the regular rate for the remainder of the month. This introductory offer provides a great boost to your cash back earnings during the initial months.
Card Summary:
This credit card comes with no annual fee and no cost for additional cardholders. The purchase interest rate is 19.99%, the cash advance rate is 24.99%, and the balance transfer rate is 22.99%. It offers cash back on your purchases and includes a bonus offer for new cardholders, providing extra value and savings.
Rewards Summary:
This credit card offers a welcome bonus of 5% cash back on groceries and gas purchases for the first six months, with a cap of $500 in spending per month. This means you can earn up to $25 in cash back each month during the bonus period. After reaching the cap, you’ll continue to earn cash back at the regular rate of 2% on gas and groceries. For all other eligible purchases, you earn 0.5% cash back. This card provides excellent value, especially for grocery and gas purchases.
Benefits Summary:
This credit card offers cash back rewards with a flexible redemption program, allowing you to use your cash back to pay off your outstanding balance. With the MBNA Payment Plan, you can manage purchases of $100 or more with ease. Save on car rentals at Avis and Budget, and enjoy the protection of Mastercard Zero Liability. Additionally, take advantage of various Mastercard benefits, enhancing your overall card experience.
Insurance Summary:
- Purchase Assurance.
- Extended Warranty Benefit.
Editor’s Review
MBNA Smart Cash Platinum Plus Mastercard Review
The MBNA Smart Cash Platinum Plus Mastercard is a top-tier cash back credit card with no annual fee, designed for individuals who frequently spend on groceries and gas. With a generous introductory offer and ongoing rewards, this card provides excellent value for everyday spending in these key categories.
Card Summary:
- Annual Fee: None
- Supplementary Card Fee: None
- Interest Rates: 19.99% (purchases), 24.99% (cash advances), 22.99% (balance transfers)
- Income Requirement: Not specified
Rewards Program:
- Welcome Bonus: 5% cash back on groceries and gas for the first 6 months (up to $500 spending cap per month)
- Ongoing Rewards:
- 2% cash back on groceries and gas (after the initial bonus period)
- 0.5% cash back on all other purchases
- Monthly Cap: Earn up to $25 in cash back each month during the bonus period
Benefits:
- Flexible Cash Back Redemption: Use cash back to pay off your outstanding balance
- MBNA Payment Plan: Manage purchases of $100 or more with ease
- Car Rental Savings: Discounts at Avis and Budget
- Mastercard Zero Liability: Protection against unauthorized transactions
- Mastercard Benefits: Enhance your overall card experience with additional perks
Insurance Coverage:
- Purchase Assurance: Protection against theft or damage for purchases
- Extended Warranty Benefit: Extends the warranty period on eligible purchases
Pros and Cons
Pros:
- No annual fee
- High cash back rate on groceries and gas
- Generous welcome bonus (5% cash back for the first 6 months)
- Flexible cash back redemption
- Basic purchase protection and extended warranty
Cons:
- Lower cash back rate on non-grocery and non-gas purchases (0.5%)
- High-interest rates on cash advances and balance transfers
- Monthly cap on bonus cash back earnings
Who is this card for?
This card is ideal for individuals who:
- Frequently spend on groceries and gas
- Prefer a no-annual-fee credit card
- Want to maximize their cash back earnings during the first six months
- Seek basic purchase protection benefits
Comparison with Similar Cards
| Feature | MBNA Smart Cash Platinum Plus Mastercard | CIBC Dividend Credit Card | BMO CashBack Mastercard |
|---|---|---|---|
| Annual Fee | None | None | None |
| Purchase Interest Rate | 19.99% | Not specified | 19.99% |
| Cash Back | Up to 5% (first 6 months), then 2%/0.5% | Up to 2% | Up to 3% |
| Grocery Cash Back | 5% (first 6 months), then 2% | 2% | 3% |
| Insurance Coverage | Basic | Basic | Basic |
| Income Requirement | Not specified | $15,000 household | None specified |
Final Verdict
The MBNA Smart Cash Platinum Plus Mastercard is a highly rewarding no-annual-fee credit card for those who spend heavily on groceries and gas. Its high cash back rates and generous welcome bonus make it an attractive option for maximizing savings on everyday purchases. While it offers limited benefits and higher interest rates on cash advances and balance transfers, its strong cash back rewards and basic purchase protections provide substantial value, especially for budget-conscious consumers.
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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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