Important changes to the MBNA Rewards credit card account.

As of the effective date(s) specified in the letter we sent to the primary cardholders of certain MBNA credit cards, we are making changes to some of their account fees and interest rates, the terms and conditions of their rewards program and to their Certificates of Insurance included in the Guide to Coverage. You can find the updated copies of the rewards program terms and conditions and the Certificates of Insurance by clicking on the applicable icon below.  Please take a moment to review these documents and keep them with your MBNA Account Agreement and Disclosure Statement. The FAQs below are intended to provide additional information about the changes.

MBNA Rewards World Elite

Expand 1. What is the MBNA Rewards program?

The MBNA Rewards program offers rewards in the form of Points for eligible purchases charged to your credit card account. You can redeem the Points earned for a variety of rewards. You are automatically enrolled in the MBNA Rewards program at no additional cost. Complete terms and conditions describing MBNA Rewards program eligibility, accrual, earn limits, and redemption of Points, and other important conditions are outlined in the MBNA Rewards World Elite Program Terms and Conditions above.

Expand 2. What changes are being made to how I will earn MBNA Rewards Points?

As of the effective date for rewards changes specified in the letter that we sent to the primary cardholder of the credit card account, your MBNA Rewards World Elite credit card will start to earn:

  • 5 Points for every $1 spent on eligible Purchases in each of these categories: Restaurant, Grocery, Digital Media, Membership, and Household Utility, until $50,000 is spent annually (per calendar year) in that category.
  • After you have spent $50,000 in one of the above categories in a calendar year, you will earn 1 Point for every $1 spent on eligible Purchases in that category in that year.
  • 1 Point for every $1 spent on all other eligible Purchases.
    In addition, we are introducing a Birthday Bonus - Your first Birthday Bonus will be 10% of the total number of Points your Account earned between the effective date of your Rewards changes specified in the letter we sent to the primary cardholder and the last day before the primary cardholder's birthday month, to a maximum Birthday Bonus of 15,000 Points. After that, you'll receive Birthday Bonus Points equal to 10% of the total number of Points your Account earned in the 12 months before the primary cardholder's birthday month, to a maximum Birthday Bonus each year of 15,000 Points. You'll receive the Birthday Bonus Points before the end of the primary cardholder's birthday month.
    For example, if your birthday is November 15:
  • In 2021, you'll receive a Birthday Bonus of 10% of the total number of Points you've earned from the effective date of your Rewards changes specified in the letter we sent to the primary cardholder and the last date before the primary cardholder's birthday month, to a maximum Birthday Bonus of 15,000 Points.
  • In 2022, you'll receive a Birthday Bonus of 10% of the total number of Points you've earned from November 1, 2021 to the last day before the primary cardholder's birthday month, to a maximum Birthday Bonus of 15,000 Points.

We recently mailed MBNA Rewards World Elite primary cardholders a letter which provides more information about these changes. You can also find the updated copy of the MBNA Rewards World Elite Program Terms and Conditions above. Please take a moment to review these documents and keep them with your MBNA Account Agreement and Disclosure Statement.

Expand 3. What changes are being made with respect to how many Points I need to redeem for travel, a cash reward, or merchandise & gift cards?

Cash Rewards: Currently, you can redeem your Points at a rate of 100 Points per $1. (For example: 12,000 Points can be redeemed for $120 in Cash Rewards).

As of the effective date of your Rewards changes specified in the letter we sent to the primary cardholder, Points will be redeemable for a Cash Reward at a rate of 120 Points per $1. (For example, 12,000 Points can be redeemed for $100 in Cash Rewards). As a result, you'll now need 6,000 Points for the minimum Cash Rewards redemption of $50. To ensure that Points earned prior to the effective date of your Rewards changes retain their current value, we’ll increase your total outstanding Points balance on the next business day by 20%.

Travel Redemption: No changes are being made to the redemption value of Points for travel. You will continue to be able to redeem your Points for travel redemptions at the current rate of 100 Points per $1.

Merchandise and Gift Cards: Merchandise and gift card redemption options remain as indicated in the MBNA Rewards catalogue. (https://onlinetravelandrewards.rewardsonline.ca/)

Expand 4. Are there changes to the minimum number of Points that are required to redeem for a Cash Reward?

Currently, a minimum of 5,000 Rewards Points is required to redeem for a Cash Reward.

As of the effective date of your Rewards changes specified in the letter we sent to the primary cardholder, a minimum of 6,000 Points will be required to redeem for a Cash Reward, which is the equivalent of $50.00 in Cash Rewards with the new Cash Rewards redemption rate.

Expand 5. How do I redeem my Points?

There is no change on how you redeem your Points.

In order to redeem your Points, log in or register for MBNA Online Banking at mbna.ca, click on the "Rewards" tab, then click on "Check your rewards balance" or "Go to rewards site" to start viewing your choices for redemption.

To redeem Points for Cash Rewards you can also call MBNA at 1-888-876-6262.

To redeem Points for Merchandise or Travel redemptions, you can call the Rewards Centre at 1-877-877-3703, Monday through Friday from 8 a.m. to 10 p.m. and Saturday, from 8 a.m. to 8 p.m. Eastern Standard Time (EST).

Expand 6. Do my Points expire?

Your Points will not expire while your credit card Account remains open, provided that you remain in good standing in accordance with the terms and conditions applicable to your Account.

Expand 7. Who can redeem my Points?

The Primary Cardholder or any Authorized Users¤ on the credit card may redeem Points.

Expand 8. Will my MBNA credit card number change as a result of the changes being made to the MBNA Rewards program?

No, your MBNA credit card number, expiry date and CVV will remain the same, including any credit cards that are issued for your Authorized Users¤.

Expand 9. Will the fees and rate(s) associated with the MBNA Rewards credit card Account change?

Any fee and rate changes associated with your credit card Account were outlined in the recent letter we sent to the primary cardholder of the credit card account. Please review your letter for further details.

You can also contact us by using the Chat option on mbna.ca. Simply click on the chat icon chat-image in the top right-hand corner to Chat with an agent (available Monday to Sunday 7 a.m. to 9 p.m. ET). Or call 1-888-876-6262 Monday to Sunday, 7 a.m. to 12 a.m. ET (for TTY, call 1-800-872-5758.) for specific information or questions regarding the rates and fees for your Account.

Expand 10. Are there Authorized User changes on the Account?

If there are Authorized Users on your Account, they can continue to use their existing credit card as they do today.

Starting on the first anniversary date of your Account after the effective date for the Additional Card Annual Fee specified in the letter that we sent to the primary cardholder of the credit card account, we will start charging an Additional Card Annual Fee of $50 for one Authorized User (if you have one). There will be no charge for subsequent Authorized Users.

All the insurance benefits that come with your Account are now extended to your Authorized Users as specified in the updated MBNA Rewards World Elite Mastercard Credit Card Guide to Coverage above.

Expand 11. What will happen to the automated payments I have set up on my Account?

Any regularly recurring bill payments (such as Internet and telephone bills) set up to be paid with your Account will continue. You will not need to contact these merchants because your credit card number, expiry date or CVV will not change.

Any pre-authorized payments that you have currently set up on your chequing or savings Account to pay your MBNA credit card account balance will also continue as per your Pre-Authorized Debit service agreement.

Expand 12. What is an eligible purchase to earn bonus Points in the Restaurant, Grocery, Digital Media, Membership or Household Utility categories?

All eligible transactions (single purchases and recurring purchases) that are made in the Merchant Category Codes listed below:


Bonus Points Category

Merchant Category Code

Restaurant

5812 – Restaurants or Eating Places 

5814 – Fast Food Restaurants

Grocery

5411 – Grocery Stores, Supermarkets (Costco and Walmart are excluded)

5462 – Bakeries

5499 – Miscellaneous Food Stores: Convenience Stores, Markets, Specialty Stores, and Vending Machines

New - Digital Media

5815 – Digital Media: Books, Movies, Music

5816 – Digital Media: Games

5968 – Subscription Merchants

New - Membership

7997 – Membership Clubs

8699 – Membership Organizations

New - Household Utility

4814 – Phone Services

4899 - Cable, Satellite, and Other Pay Television and Radio Services

4900 – Utilities: Electric, Gas, Heating Oil, Sanitary, Water 

Expand 13. How can I avoid going over limit?

To avoid going over your credit limit, regularly monitor your balances with the MBNA Mobile App or MBNA online banking at mbna.ca. If you are experiencing financial hardship, please call us at 1-888-876-6262. For cardholders outside of Quebec: if your balance exceeds your Account's credit limit, the over the credit limit fee will apply.

MBNA Rewards World Elite

Expand 1. What insurance coverages are being added to my credit card?

As of the effective date for insurance changes specified in the letter we sent to the primary cardholder, the following benefits will be added to your MBNA credit card:

  • Travel Medical Insurance
  • Delayed & Lost Baggage Insurance
  • Flight/Trip Delay Insurance
  • Mobile Device Insurance

All insurance coverage and benefits will be extended to your Authorized Users¤.

Expand 2. Who should I contact if I have questions about my insurance coverages or if I need to make a claim?

For details regarding Mobile Device Insurance, please contact American Bankers Insurance Company of Florida at 1-877-654-7511 between 8:00 a.m. and 8:00 p.m., ET, Monday through Friday, as they are the underwriter and administrator of this coverage. For any questions regarding all other insurance coverages, please contact Global Excel Management Inc. at 1-866-520-8827 between 9:00 a.m. to 5:00 p.m., ET, Monday through Friday, as they administer and service insurance claims on behalf of TD Home and Auto Insurance Company and TD Life Insurance Company.

Expand 3. I have Balance Protection insurance on my credit card, will that change?

No, the balance protection insurance on your credit card will not change. If you're enrolled in one of our optional balance protection insurance products, the coverage will continue to apply to your credit card Account from the initial effective date and all benefits, exclusions and limitations will remain unchanged. No action is required, and any open or new claim will continue to be processed as per the Certificate of Insurance.

If you decide to close the Account, the optional balance protection insurance will continue to be active until the outstanding balance is paid in full.

Below is a chart of all the benefits and insurance coverage we are extending to each Authorized User on your credit card. Please refer to the Guide to Coverage for defined terms and a full description of features, benefits, limitations and exclusions.


Benefits

Current Authorized User Benefits

New Authorized User Benefits

Common Carrier Accidental Death & Dismemberment

n/a

Coverage up to $1,000,000 per account

Collision Damage Waiver Benefits

n/a

Available

Rental Vehicle Personal Effects

n/a

Coverage up to $1,000 per insured/ up to $2,000 per account

Rental Vehicle Accidental Death & Dismemberment

n/a

Coverage up to $300,000 per account

Purchase Assurance

n/a

Lifetime total accumulative limit of $60,000 per account

Extended Warranty

n/a

Available

Unexpected Return Home

n/a

Coverage up to $2,000 per insured for a maximum of $25,000 per covered trip

Trip Assistance

n/a

Available

Legal Assistance

n/a

Available

Travel Medical Insurance

n/a

Coverage up to $2,000,000 per insured per covered trip

Delayed & Lost Baggage

n/a

Coverage up to $1,000 per trip

Flight/Trip Delay

n/a

Coverage up to $500 per trip

Mobile Device Insurance

n/a

Coverage up to $1,000