Amazon.ca Rewards Mastercard Review

The Amazon.ca Rewards Mastercard is offered in conjunction with MBNA. If you are a regular shopper at Amazon.ca or Whole Foods, the cash back earns rate is acceptable, especially if you have Amazon Prime Membership.

Outside of these locations, you also earn cash back on your purchases and can redeem your points for Amazon gift cards.

This Amazon.ca Rewards Mastercard review covers how it works, pros, cons, and alternative cash back credit cards in Canada.

Amazon.ca Rewards Mastercard – At a Glance

Amazon.ca Rewards Mastercard

Rewards: Up to 2.5% back at Amazon and Whole Foods; 1% back on other purchases.

Welcome offer: 5% cash back at Amazon.ca and Whole Foods for the first 6 months ($150 value).

Interest rates: 19.99% on purchase; 22.99% on cash advances and balance transfers.

Annual fee: $0

Amazon.ca Rewards Mastercard Benefits

The top benefits of the MBNA Amazon.ca Rewards Mastercard include:

Earn cash back: You get 2.5% back on eligible purchases at Amazon.ca and Whole Foods Market stores in Canada if you are a Prime member.

Non-Prime cardholders earn 1.5% cash back at these locations. On purchases made elsewhere, the standard earn rate for all users is 1%.

Waive FX Fees: Amazon Prime members get 2.5% back on foreign currency transactions to help them cover foreign transaction fees. Non-Prime members get 1% back on transactions involving foreign currency conversions.

Insurance coverage: This card offers standard purchase security and extended warranty benefit coverage.

Save on car rental: Cardholders can save up to 10% on car rental fees at participating Avis and Budget locations.

Welcome offer: The Amazon.ca Rewards Mastercard offers a 5% cashback welcome bonus on up to $3,000 spent at Amazon.ca and Whole Foods in the first 6 months.

How To Redeem Amazon Rewards Points

When your rewards reach 2,000 points, they are automatically redeemed for a $20 Amazon gift card and added to your account.

The points do not expire as long as your account remains open and in good standing.

The main downside of this card is that you are limited to spending rewards earned at Amazon.ca.

Also, if you don’t have Prime membership which costs $9.99 per month, you don’t benefit from the 2.50% cash back rates at Amazon.ca and Whole Foods.

Amazon.ca Rewards Mastercard Review

How To Apply For The Amazon Rewards Mastercard

You can apply for this card via your Amazon.ca account. Alternatively, visit the MBNA website to apply (which redirects you to Amazon).

The Amazon.ca Rewards Mastercard does not have a minimum income requirement.

That said, you may need a good credit score to qualify.

Alternatives to Amazon.ca Rewards Mastercard

1. Neo Financial Mastercard

The Neo Card pays you an average of 5% cash back at participating retailers and a guaranteed 1% cash back across all purchases.

When you apply for this no-fee credit card here, you also get a $25 bonus.

Neo Mastercard (Standard)

Rewards: Average of 5% cash back at partners and a minimum of 1% cash back across all purchases

Welcome offer: Get 15% cash back on your first purchases; plus a $25 welcome cash bonus.

Interest rates: 19.99% – 24.99% on purchases; 21.99% – 26.99% for cash advances.

Annual fee: $0

2. Tangerine Money-Back Credit Card

This Tangerine credit card is one of the best no-fee cash back credit cards in Canada.

You get up to 2% unlimited cash back in 3 categories of spending, and 0.5% cash back on everything else.

Also, in the first two months, it offers a 10% promo reward that is worth up to $100.

Tangerine Money-Back Credit Card

Rewards: Earn up to 2% unlimited cash back in up to 3 spending categories and 0.50% on all other purchases.

Welcome offer: Get an extra 15% cash back on up to $1,000 in spending in the first 2 months ($150 value).

Interest rates: 19.95% for purchases, balance transfers, and cash advances.

Annual fee: $0

3. SimplyCash Card from American Express.

If you are looking for flat-rate cash back rewards without paying annual fees, this card may be for you.

You earn unlimited 1.25% cash back on all purchases, and a promotional 4% cash back in the first 6 months ($200 value).

SimplyCash Card from American Express

Rewards and benefits: Earn 1.25% cash back on all purchases; travel accident insurance.

Welcome offer: 4% cash back in your first 6 months (valued at $250).

Interest rates: 19.99% on purchases and 21.99% on cash advances.

Annual fee: $0

Related:

Amazon.ca Rewards Mastercard Review

Best Credit Offers in August 2022

Earn up to 15% cash back for a limited time ($150 bonus)

One of the best no-fee credit cards in Canada.

Get 2% unlimited cash back on up to 3 purchase categories.

Get 0.5% unlimited cash back on all other purchases.

Get 15% bonus cash back in first 2 months ($150 value).

1.95% balance transfer offer for 6 months.

Get up to 5% cashback and grow your savings ($20 bonus)

Free prepaid reloadable Mastercard (use referral code CASHBACK during signup for $20 free).

Free budgeting app with automatic savings features.

Access to a portion of your paycheque 3 days early.

1.20% savings interest on every dollar balance.*

Compare the best personal loan rates in Canada

Get the best rates from multiple lenders.

Borrow up to $50,000 regardless of your credit score.

Pre-approvals are available in as fast as 5 minutes.

Low-interest rates start at 1.99% and terms from 4-60 months.

The NeoCard pays up to 5% cash back at select retailers

Get a $25 bonus when you apply for the Card.

Up to 5% cash back at participating stores.

No annual account fees and 1% minimum cash back guaranteed.

Guaranteed instant approval credit card.

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Author

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Enoch Omololu

Enoch Omololu is a personal finance expert and a veterinarian. He has a master’s degree in Finance and Investment Management from the University of Aberdeen Business School (Scotland) and has completed several courses and certificates in finance, including the Canadian Securities Course. He also has an MSc. in Agricultural Economics from the University of Manitoba and a Doctor of Veterinary Medicine degree from the University of Ibadan. Enoch has a passion for helping others win with their personal finances and has been writing about money matters for over a decade. He has been featured or quoted in The Globe and Mail, Winnipeg Free Press, Wealthsimple, Financial Post, Toronto Star, CTV News, Canadian Securities Exchange, Credit Canada, National Post, CIBC, and many other personal finance publications.

His top investment tools include Wealthsimple and Questrade. He earns cash back on purchases using KOHO, monitors his credit score for free using Borrowell, and earns interest on savings through EQ Bank.

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  • 15% cashback on $1,000 spent in first 2 months ($150 value).*
  • Earn 2% unlimited cashback in 2 categories and 0.50% back on everything else.
  • No annual fees!
*Limited time offer. Terms and conditions apply.
Best No Annual Fee Cash Back Credit Card
Best No Annual Fee Cash Back Card
Get 15% cashback on up to $1,000 spent in first 2 months ($150 value).* No annual fees!
*Limited time offer. Terms and conditions apply.
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