How to Apply MBNA Smart Cash Platinum Plus Mastercard

The MBNA Smart Cash Platinum Plus Mastercard is a top pick for borrowers seeking to maximize cashback rewards on everyday spending. It offers an attractively high introductory earnings rate on gas and grocery purchases, allowing you to earn substantial rewards early on.

Taking advantage of the initial 5% cash back on gas and groceries can provide significant savings on household expenses during the first 6 months. Any new purchases will earn cash back at this elevated introductory rate during the promotional period. This makes it lucrative to maximize rewards on frequent spending categories.

In addition to boosting rewards, the MBNA Smart Cash Platinum Plus Mastercard touts a competitive 19.99% interest rate on purchases, making it affordable to carry a balance when needed. With no annual fee, this card provides great value. The combination of strong rewards and affordable financing makes it a flexible option.

Key Benefits

•  5% cash back on gas & groceries for 6 months: The intro rate offers high rewards on these categories for the initial 6 months. This allows you to maximize savings during the promotional period. Making the most of this lucrative rate can really boost overall earnings.
• 2% cash back on gas & groceries after: Keep earning accelerated rewards on these categories after the intro period. The ongoing 2% rate keeps providing value on frequent household purchases.
• 0.5% unlimited cash back: Get ongoing cash back on all everyday purchases with no category restrictions. Any other spending earns a base rate with no limits on potential earnings.
• Low 19.99% interest rate: Carry balances affordably with a competitive interest rate on purchases after any intro period ends. This makes costs predictable if you need to revolve a balance.
• No annual fee: There is no annual fee to use the card, allowing you to enjoy the benefits year after year. You avoid paying just for access to the account.
• Balance transfer offer: Transfer high-interest balances from other cards during the application process to save on interest. This can provide major savings consolidating debts at a lower rate.

Requirements to Apply

Here are the essential requirements to qualify for the MBNA Smart Cash Platinum Plus Mastercard:

• Good personal credit: A score in the excellent credit range or higher improves approval odds. This reflects responsible usage and payment history.
• Minimum personal/household income of $15,000: Meet the minimum income eligibility with your individual or combined household income. This ensures ability to manage payments.
• Canadian residency: Must be a Canadian citizen or permanent resident to apply. You need to live in Canada to get approved.

The income and credit criteria ensure applicants have the means to manage payments responsibly. But the requirements are accessible overall. Approval is attainable for those with good financial standing.

About MBNA

MBNA is a premier Mastercard issuer in Canada, providing consumer credit cards since 1996. They emphasize world-class customer service through 24/7 support and digital account tools.

MBNA prioritizes consumer education on responsible borrowing. They offer customized credit lines based on individual circumstances. Credit limits can grow as cardholders demonstrate healthy account usage and payment activity.

MBNA is a division of Toronto-Dominion Bank, one of the largest banks in North America. This backing by a major financial institution gives MBNA robust capabilities. The scale provides strong infrastructure and resources.

Ideal Cardholder

The MBNA Smart Cash Platinum Plus Mastercard is an excellent fit for:

• Households who want to earn bonus rewards on gas and groceries. The category bonuses provide maximum value for frequent spending.
• Anyone seeking an affordable way to carry a balance after the intro period. The competitive ongoing APR makes revolving a balance viable.
• Those looking to consolidate debts at a lower interest rate. Transferring high-rate balances can significantly reduce interest costs.
• Responsible borrowers building or rebuilding their credit history. The card can help establish positive payment activity.
• Its flexible rewards structure and competitive financing make it useful for many Canadian credit users. The features align with diverse spending needs.

Pros and Cons

The MBNA Smart Cash Platinum Plus Mastercard has excellent benefits, along with a few drawbacks:

Pros:

• Lucrative intro 5% cash back on gas and groceries. This allows maximizing rewards from the start.
• Ongoing 2% cash back on gas and groceries. Keep earning at an accelerated rate in key categories.
• 0.5% unlimited cash back on other purchases. Steady earnings no matter what you buy.
• Low 19.99% interest rate on purchases. Makes carrying a balance more affordable.
• No annual fee. Avoid an annual cost just for having the card.

Cons:

•  2%/0.5% cash back rates are lower than premium cards. But still solid for a no-fee card.
• Balance transfers don’t offer a 0% intro APR. But the ongoing rate is competitive.
• For most, the rewards and affordable financing pros outweigh the cons. The value is strong overall.
• Activating Your Card

After receiving your new MBNA Smart Cash Platinum Plus Mastercard by mail:

• Call the number on the sticker on the front of your card. This connects you to the activation line.
• Verify your identity by providing the requested details. This ensures security setting up the card.

Follow the prompts to select your card PIN number. Choose something secure you’ll remember.

Your card will now be activated for use. You can immediately start making transactions.

Register for online banking to access your account digitally. Manage your account anytime online.

Fees & Charges

Key fees associated with the MBNA Smart Cash Platinum Plus Mastercard:

• 19.99% regular APR on purchases after any intro period ends. The ongoing interest rate if carrying a balance.
• 22.99% APR for balance transfers after the intro period. Rate for transferred balances after promotion.
• 2.5% foreign transaction fee on international purchases. Charged on transactions abroad.
• 1% fee on cash advances (minimum $7.50). Added cost for ATM and teller withdrawals.
• $20 fee for returned payments. Assessed if a payment doesn’t clear.

How to Apply

Applying for the MBNA Smart Cash Platinum Plus Mastercard is simple:

• Visit mbna.ca and click “Apply Now” to start the online application. This allows submitting from anywhere conveniently.
• Provide personal details, including your name, address, DOB, and SIN number. These verify identity and eligibility.
• Review and accept the terms and conditions electronically. This completes the application process.
• Receive an instant decision in as little as 60 seconds. You’ll know quickly if you are approved.
• If approved, your new card will ship within 10 business days typically. It arrives promptly to start using right away.