The MBNA True Line® Gold Mastercard® is designed for those who want a low-interest rate with practical features to help manage their finances. Whether you’re looking to make purchases with ease or transfer balances at a competitive rate, this card has you covered. With a 10.99% standard interest rate on eligible purchases, it ensures affordability while giving you access to important benefits.

Along with its competitive interest rates, the card offers a low annual fee of $39 and added security features that protect your personal information. With MBNA’s focus on privacy and security, you can trust that your financial data is in safe hands.

Main features of the MBNA True Line® Gold Mastercard®

The MBNA True Line® Gold Mastercard® stands out due to its simple yet effective features. This card offers a 10.99% interest rate on eligible purchases, making it one of the lowest rate cards available.

Additionally, it provides easy access to Apple Pay, allowing you to make secure payments wherever you go. You can also add up to 9 authorized users without incurring any extra annual fees, making it a great option for families or small businesses.

The card also features comprehensive insurance options, including protection against fraud, which adds a layer of security when using it online or in-store.

How does the annual fee work?

The MBNA True Line® Gold Mastercard® comes with an annual fee of $39. While this fee might appear to be a small charge, it is relatively low when compared to other credit cards available on the market. The fee is charged once a year and does not increase based on how much you spend throughout the year, making it a predictable cost.

Additionally, depending on the offers available at the time, you may qualify for annual fee waivers or discounts. It’s always a good idea to check if any special promotions are available, as they could provide even more value, helping you make the most of your card and potentially reduce or eliminate the annual fee.

How is the credit limit determined?

The credit limit for the MBNA True Line® Gold Mastercard® is determined by several factors. When you apply for this card, MBNA will assess your credit history, income level, and overall financial situation to set a limit that aligns with your ability to repay.

This process ensures that your credit limit is personalized to your financial capacity. For those with conventional credit cards, the limit is often influenced by your credit score and past interactions with financial institutions.

In contrast, if you’re applying for a prepaid card, the process is more straightforward. The limit is set by the amount you choose to deposit into the account, giving you direct control over your spending limit. This flexibility can be a useful option for those who prefer a more controlled approach to managing their finances.

Advantages of the MBNA True Line® Gold Mastercard®

The MBNA True Line® Gold Mastercard® offers several advantages that make it an appealing choice for many consumers. Here’s a breakdown of some of the key benefits:

• Low Interest Rate: The 10.99% interest rate on purchases is among the lowest in Canada, helping you save money on purchases made throughout the year.
• Low Annual Fee: With an annual fee of just $39, this card gives you access to excellent financial benefits without breaking the bank.
• Security Features: MBNA has taken extensive steps to protect your personal information through their secure online systems and fraud protection.
• Apple Pay Integration: Use Apple Pay for convenient, quick, and secure payments anywhere Apple Pay is accepted.

Key benefit: Balance transfers and low interest rates

The MBNA True Line® Gold Mastercard® offers a 13.99% interest rate on balance transfers, making it a great option for those looking to consolidate their debt or save on interest. The lower interest rate can significantly reduce the cost of carrying a balance from month to month.

Disadvantages

While the MBNA True Line® Gold Mastercard® offers numerous benefits, it does come with some drawbacks. Here’s a quick look at the disadvantages of this card:

• Interest on Cash Advances: Cash advances come with a high interest rate of 24.99%, which can add up quickly if not paid off in full.
• Limited Rewards Program: Unlike other credit cards that offer extensive rewards, this card focuses on offering low interest rates rather than a robust rewards program.

Key Drawback: High interest on cash advances

One significant downside of the MBNA True Line® Gold Mastercard® is the interest rate on cash advances. At 24.99%, this rate is steep, and using your credit card to access cash could result in high fees. It’s best to avoid cash advances or pay them off quickly to minimize the financial impact.

Who can apply for the MBNA True Line® Gold Mastercard®?

To apply for the MBNA True Line® Gold Mastercard®, applicants must meet specific eligibility requirements. These include:

• Canadian residency: You must be a resident of Canada.
• Age: You need to be of the age of majority in your province or territory.
• Credit Status: Applicants should have a clean credit history and meet MBNA’s credit standards.
• Income: While there are no strict income requirements, having a stable income may improve your chances of approval.

How to apply for the MBNA True Line® Gold Mastercard®

Applying for the MBNA True Line® Gold Mastercard® is easy and can be done through various methods.

Online application

To apply for the MBNA True Line® Gold Mastercard® online, simply visit the MBNA website and complete the secure application form. The process is quick and straightforward, allowing you to apply from the comfort of your home.

You’ll need to provide personal information, proof of income, and details about your financial situation, including your employment status and any existing debts. Once your application is submitted, MBNA will review your information and notify you of their decision. This convenient online application process makes it easy to get started with your new credit card.

Mobile application

Alternatively, you can apply for the MBNA True Line® Gold Mastercard® via the MBNA mobile app. The app provides a seamless and convenient way to apply directly from your phone, allowing you to complete the process on the go.

With the mobile app, you can easily submit your personal information, proof of income, and financial details, making it even more accessible and efficient. This option offers additional flexibility, allowing you to apply whenever and wherever it’s most convenient for you.