The Royal Canadian Legion Rewards Mastercard
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Welcome Offer
Earn up to 5,000 bonus points within the first 90 days: receive 2,500 points after your first eligible purchase and an additional 2,500 points when you enroll in e-statements.
Summary
This credit card has no annual fee, allowing you to enjoy its benefits without any yearly charge. The interest rate on purchases is 19.99%. If you take out cash advances, the interest rate is 24.99%, and for balance transfers, it’s 22.99%. This card offers straightforward rates while providing a cost-effective option for everyday use.
Rewards
This credit card rewards you with 2 points for every $1 spent in select categories, helping you earn rewards faster on specific purchases. For all other purchases, you earn 1 point per $1 spent. Additionally, you’ll receive bonus points on your birthday equal to 10% of the points you’ve earned throughout the year, making your special day even more rewarding.
Benefits
Insurance
- Mobile Device Insurance up to $1,000
- Purchase Assurance and Extended Warranty Benefits
- Mastercard Zero Liability protection
Editor’s Review
MBNA Royal Canadian Legion Mastercard Review
General Overview
The MBNA Royal Canadian Legion Mastercard supports Canadian veterans and their families while offering a solid rewards program and no annual fee.
Key Features
- Interest Rates
- Purchase APR: 19.99%
- Cash Advance APR: 24.99%
- Balance Transfer APR: 22.99%
- Rewards Program
- Earn 2 points per $1 on eligible restaurant, grocery, digital media, membership, and household utility purchases (up to $10,000 annually)
- Earn 1 point per $1 on all other purchases
- 2,500 bonus points for the first eligible purchase and another 2,500 for enrolling in e-statements within the first 90 days
- Birthday Bonus Points: 10% of annual earned points (up to 10,000 points)
- Fees
- Annual Fee: $0
- Benefits
- Mobile Device Insurance (up to $1,000 coverage)
- Purchase Assurance (coverage for theft or damage within 90 days of purchase)
- Extended Warranty Benefits (doubles manufacturer’s warranty up to one additional year)
- Insurance Coverage
- Purchase Assurance
- Extended Warranty
- Mobile Device Insurance
- Security Features
- Mastercard Zero Liability
- Fraud alerts
- Chip & PIN technology
- Contactless payments
Pros and Cons
Pros
- No annual fee
- Supports Canadian veterans
- Strong rewards program with bonus points and birthday bonus points
- Comprehensive insurance coverage
Cons
- Higher APR on cash advances and balance transfers
- Annual cap on higher rewards categories
Who is this card for?
This card is ideal for individuals looking to support veterans while enjoying a robust rewards program with no annual fee. It is also suitable for those who can benefit from the various insurance coverages provided.
Comparison with Similar Cards
| Feature | MBNA Royal Canadian Legion Mastercard | MBNA Rewards Platinum Plus Mastercard | BMO CashBack Mastercard |
|---|---|---|---|
| Annual Fee | $0 | $0 | $0 |
| Rewards | 2 points/$1 on select categories, 1 point/$1 on others | 2 points/$1 on grocery and restaurant, 1 point/$1 on others | 3% on groceries, 1% on recurring payments |
| Welcome Bonus | Up to 5,000 points | Up to 10,000 points | 5% cash back for first 3 months |
| Purchase APR | 19.99% | 19.99% | 19.99% |
| Additional Benefits | Supports veterans, comprehensive insurance | Travel and retail benefits | Purchase protection, extended warranty |
Final Verdict
The MBNA Royal Canadian Legion Mastercard scores an 8/10. It provides a strong rewards program, comprehensive insurance, and supports a worthy cause, making it an excellent choice for those aligned with its mission. However, the higher APR on cash advances and balance transfers is a minor drawback.
Disclaimer: Refer to the official credit card web page for the latest 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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