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MBNA True Line Gold Mastercard Review for 2023

The MBNA True Line Gold Mastercard is one of the best low-rate interest rates for a credit card in Canada. It offers a competitive standard purchase rate of 8.99% and a balance transfer rate of 8.99%.

The primary cardholder pays a $39 annual fee; however, you can get up to 9 free supplementary cards for additional authorized users.

This MBNA True Line Gold Mastercard review covers its benefits, downsides, and how it compares to the MBNA True Line Mastercard.

MBNA True Line Gold Mastercard Summary

MBNA True Line Gold Mastercard

Best for low purchase interest

Annual fee: $39

Rewards: N/A

Welcome offer: N/A

Interest rates: 8.99% on purchases, 24.99% on cash advances.

Minimum income requirement: No minimum income requirements.

Recommended credit score:


MBNA True Line Gold Mastercard

On MBNA’s website

  • No minimum income requirements.
  • Extended warranty of up to one additional year.
  • Various types of trip insurance, such as lost baggage and rental car insurance.
  • Purchase assurance that covers the first 90 days after purchase.
  • 1% balance transfer fee or $7.50 minimum fee.

Very low-interest rates

No minimum income requirements

Decent insurance coverage for a basic card

No reward points for purchases

Not many notable perks

Annual fee pay offset some of the savings from lower interest rates

The True Line Gold Mastercard is a great option for those struggling with credit card debt. Users of this card can benefit from the ultra low-interest rates. While the card does not offer many perks, it remains a solid option for those looking to consolidate their debt.

MBNA True Line Gold Mastercard Benefits

1. 8.99% purchase annual interest rate. Compared to the 19.99% or more that is standard for the industry, this card could save you a tonne of money in interest fees if you carry a balance from month to month.

2. Low balance transfer rate: Pay a low 8.99% standard rate on balance transfers. A 1% fee applies to each balance transfer transaction (minimum of $7.50).

3. Insurance coverage, including purchase protection for up to 90 days and extended warranty for up to an extra one year.

4. Car rental discount at participating Canadian Avis Rent A Car and Budget Rent A Car locations.

5. Other Mastercard benefits include Zero Liability for unauthorized purchases, 24/7 emergency support, trip assistance, and more.

Downsides of MBNA True Line Gold Mastercard

The MBNA True Line Gold Mastercard has a $39 annual fee and limited rewards. Also, there is a 1% balance transfer fee on each balance transfer transaction.

Lastly, this card does not offer cash back rewards.

Conclusion and Alternatives

This card offers a standard low rate on purchases which can go a long way to lower your interest fees over time.

You could also consider applying for the MBNA True Line Mastercard, which has no fees and a standard 12.99% purchase interest rate.

Regardless of which card you choose, remember to make at least the minimum payments. The balance transfer rate jumps from 8.99% to 21.99% if you are late in making the minimum payment twice within any 12 consecutive payment periods.

Other card options in the low-interest rate category include the Scotiabank Value Visa Card (0% balance transfer and 12.99% purchase APR), HSBC +Rewards Mastercard, and the BMO Preferred Rate Mastercard.

Scotiabank Value Visa Card

Rewards: Save up to 25% off car rental rates at AVIS and Budget car rental locations.

Welcome offer: 0% balance transfer for 6 months; the annual fee is waived in the first year.

Interest rates: 12.99% on purchases and cash advances.

Annual fee: $29

For an excellent balance transfer credit card that also offers cash back rewards and no annual fee, check out the Tangerine World Mastercard.

Tangerine World Mastercard

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

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


Best Credit Offers in January 2023

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Free budgeting app with automatic savings features.

Increase your credit score with optional credit building add-on.

Earn up to 2.00% interest on your entire balance.*

Get one of the no-fee cash back credit cards in Canada ($150 bonus)

Earn 2% unlimited cash back in up to 3 spending categories.

Get a $150 welcome bonus after spending $1,000 in the first two months.

1.95% low-rate balance transfer, airport lounge access, and insurance benefits.

No annual fees to use the card and cashback is paid out monthly.

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Gravatar for Enoch Omololu, MSc (Econ)
Enoch Omololu, MSc (Econ)

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 is passionate about helping others win with their 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, CBC News, Financial Post, Toronto Star, CTV News, Canadian Securities Exchange, Credit Canada, National Post, and many other personal finance publications. You can learn more about him on the About Page.

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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