MBNA Trueline Mastercard Review

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The Truest of Credit Lines – an MBNA True Line Mastercard Review

No one wants to own a credit card balance that only gets used for large purchases, emergencies, or unforeseen expenses, even for those organized in terms of Canada’s financial picture. These changing times are crucial to always act fast in paying down your debt before it grows bigger and out of control. One way to solve this dilemma is to move your debt to a card with much lower interest. With that said, insert the MBNA True Line Mastercard – a 12.99% low rate on balance transfers and new purchases. Could this card be the best financial leap you could potentially have? Let’s get into the details so we can learn more.

MBNA True Line Mastercard – 3 True Facts About this Line of Credit

  • A Very Competitive Standard Annual Interest Rate

Credit cards usually charge around a regular 19.99% interest rate, but the MBNA True Line Mastercard charges lesser – 12.99%! This 7.00% rate difference hugely translates to everyday savings in line with unpaid balances – accumulated interest for new purchases at a much lower rate and, probably the most important, reverting of 0% balance transfers not fully paid off in the given 12-month period to a lower regular rate, too.

  • No annual fee

Typically, cards with low interests have a fee, which means you pay for having the privilege of a lower rate. But quite the contrary with the MBNA True Line Mastercard – no annual fee, keeping more of your money in your pocket. In addition, in case you’ll be needing a low-interest option, carry this card as your #1 no-cost backup.

  • No Frills for a No-fee, Low-interest Credit Card

MBNA True Line Mastercard’s strengths – a low-interest rate, no annual fee, and a promotional period for a 0% interest for balance transfers – are an ability to help you save money. Consequently, do not have expectations for a lot of frills with this card. Straightforward in having no perks aside from having very standard purchase protection. It’s a good choice of unsecured credit cards for bad credit in Canada.

MBNA Perks and Features

Aside from the already mentioned welcome offer and regular interest rates, here’s a quick look at other perks and features the MBNA True Line Mastercard have:

  • Nine (9) additional authorized users max with no annual fees for them.
  • Base rental car rates discount – minimum 10% off in Canada and the U.S., and a minimum of 5% off base internationally on car rentals eligible at participating Avis and Budget locations
  • Use of available credit from the credit card and funds transferred directly to their checking account, with Interest rates applied
  • 24/7 fraud protection

True-Line Fees and Interest Rates

Despite having a promo for balance transfers and a low-interest rate on purchase, probably the MBNA True Line Mastercard’s most unique asset is its non-charge of an annual fee.

However, the card’s interest rate on cash advances is a whopping 24.99% high, so it’s best not to use the card for cash advances. It is generally not advised with credit cards anyway because of its immediate accrual of interest. In addition, be aware of other fees such as a 2.5% foreign transaction fee and a $29 fee when you go over your credit limit for any statement period.

The Truest Pros and Cons

The Goods

  • Great welcome offer: 0% APR on balance transfers made within the first 90 days with a transfer fee of 3% for the first 12 months
  • No annual fee is charged or minimum income required.
  • A 12.99% low standard interest rate for every new purchase charged to the card.
  • Extra perks like 24/7 fraud protection and car rental discounts

The Not-So-Goods

  • A comparatively high 3% balance transfer fee
  • A jump to a 12.99% interest rate on transferred balances for late payments
  • A whopping 24.99% cash advance interest rate
  • No insurance benefits
  • Owed balances non-transferable to either MBNA or TD

Drawbacks – Are There Any?

While this card has a 12.99% standard purchase interest rate, be mindful of cash advances accumulating a high 24.99% interest.

For accumulated debt, please take note that you’ll pay 12.99% on it right away. Although better than the typical 19.99% charge most cards have, not reasonably to be considered a benefit like some of the super-low-rate promotional periods that some competitors offer to new customers.

But remember that the MBNA True Line Mastercard has a lot on offer, especially if you want a credit card with no annual fees, has low interest for everyday purchases, and a welcome offer of a super-low balance transfer.

The Competition – A Fast Check

The MBNA True Line shines among many other low-interest credit cards for Canadians for two reasons: it’s no annual fee and its low 12.99% interest rate on balance transfers and new purchases. However, a good amount of consideration should come into play for some competition this credit card has as you decide which one is right for you:

MBNA True Line Gold Mastercard

  • $39 annual fee
  • 99% interest rate
  • Car rental discounts at participating Avis and Budget locations
  • Zero Liability coverage
  • 24/7 emergency support
  • Trip assistance
  • Purchase protection and extended warranty

American Express Essential Card

  • $0 annual fee
  • 99% interest rate
  • 99% interest on balance transfers for six (6) months with no transfer fee
  • Travel insurance
  • American Express Invites access
  • Purchase protection

RBC RateAdvantage

  • $0 Annual fee
  • 99% – 8.99% interest rate (variable of prime plus)
  • No balance transfer offer
  • 20% more points for Petro-Points collectors
  • Save $0.03 per liter on fuel at Petro-Canada
  • RBC Offers discounts
  • Purchase security and extended warranty insurance

Scotiabank Value Visa

Balance Transfer

One important thing to note is that when your approved credit limit gets exceeded by the number of your requested balance transfers, it will be automatically canceled.  The order of how you listed your balance transfer requests on the application form also affects if your balance transfers will push through or not, aside from the total amounts exceeding your approved credit limit. You must complete balance transfer transactions within 90 days from the time of account opening for them to be eligible for the 0% interest for 12 months welcome offer. Balance transfers made after the promotional period will be subject to the standard 12.99% rate.


Eligibility for the MBNA True Line Mastercard includes the following:

  • You must be a Canadian resident
  • Have reached the age of majority in your province or territory
  • You should have a credit score in the range of fair to good
  • No minimum income requirement
  • The balance transfer promotion offer is not available for Quebec residents.


Once you have finally decided if you want to already take advantage of the fantastic balance transfer promotions the MBNA True Line Mastercard has in store for you, you will now need to include some additional details like the payee’s name and other financial information like the account number from the credit card balance you would want to be transferred. When you apply, there’s a part on your application called “Transfer to Credit Card.” This portion allows you to start moving balances from up to a maximum of three other credit cards onto your new MBNA True Line Mastercard.

In addition, you can visit their direct website to apply for the MBNA True Line Mastercard, where you can review the product first before being taken to the application form itself. You will be asked to provide your details like date of birth and contact and employment information.

Card Facts – A Quick Recap

MBNA True Line Mastercard

  • Welcome offer: 0% promotional annual interest rate for 12 months best for balance transfers that will be done within the first 90 days since the opening of the account.
  • $0 Annual fee
  • 99% Purchase interest rate (after the 12-month promotional period)
  • 99% Balance transfer rate (after the 12-month promotional period)
  • No income bracket or amount requirement
  • The best feature of an exceptionally low 12.99% standard annual interest rate of on purchases and balance transfers
  • Works best for people with tendencies of carrying month-to-month balances or for those who are finding out ways in paying down past credit card debts they have

Note: This offer is not available for Quebec residents.

Final Thoughts on the MBNA True Line Mastercard

If you are one of those who are looking for a credit card with low interest, then the MBNA True Line Mastercard has the best offers for you. With a low 12.99% purchase APR, and a good balance transfer promotional offer, having one of the most extended promotion lengths out there (12 months) in the country, this card might be your saving grace in terms of credit.

However, keep in mind the 3% balance transfer fee that can add up and defeat the purpose of saving and detracts money you could have saved in doing your balance transfers. For others, it might be advantageous to consider other balance transfer credit cards first. These cards have features of lower upfront transfer fees – even if these cards have a much shorter interest-free or low-interest period, given that you can pay off the transferred balance within the promotional period.

If you find yourself unable to pay off the balance during their short promo period, it might be in your best interest to consider the MBNA True Line Mastercard and its 12 months of 0%, even if it has the 3% transfer fee. Finally, this credit card might also be the most intelligent pick for people who do not need a balance transfer promotion but are only looking for a card with a low purchase interest rate and no annual fee.

MBNA True Line Mastercard

The card charges half of what traditional cards charge for purchases and balance transfers. For cardholders with hefty outstanding balances (many of them), the ability to reduce their interest payments is a real saving grace. The MBNA True Line is the number one card for customers with balance transfers along with the $10 monthly 0% to 1% transfer fee, no annual fee and 90 days to complete as many transfers as you like. The transfer period is particularly important for certain balance transfers eligible for the full 10-month settlement period. In addition, the average 0% interest rate means that this is an excellent target for transferring debt from a current balance transfer card (which varies depending on the offer and expiration date). 

Unlike traditional annual purchases, the interest rate is fixed and does not fluctuate depending on your credit rating or the bank’s “prime lending rate, so that you do not miss your minimum payment. If you are in balance sheet status, interest will be charged on new purchases on the day of purchase.

You pay $899 to $1,299 for the standard card. If you need a cash advance, you’ll have to pay $2,499, so it’s best to avoid it if you can.

Compared to the $19.99 that many other cards charge, this card saves you money in interest and fees. The interest rate on purchases is only 1.99%, so make sure you don’t use this card for purchases unless you already have a balance on the card.

The annual fee on cards is one of the lowest fixed rates in the country on purchases, which is a huge plus if you carry a balance from month to month. No annual fee to compete with the lower APR cards, which charge annual fees of 20% to 50%. Your annual fee of $39.00 will be shown on your first statement after opening your account. If the application has been approved and your card (and other credit devices) are activated, not on your anniversary.

To transfer balances from inactive accounts to purchased accounts, including optional balance protection, premium adjustment payments, refunds, cash advances, balance transfers, access to checks, requests for additional copies of statements, sales drafts, credit refunds and inactive accounts.

The MBNA True Line (r) Mastercard credit card offers a low transfer rate, no annual fee and a low purchasing rate. Despite its name, the True Line is designed to save cardholders from high-interest rates. In addition, customers can transfer their balances from the three other cards to pay off debts that do not exceed their credit limit.

This allows you to save money when you use the card to end up with more money in your pocket. You will also place large purchases on the card and have enough time to withdraw them.

If you’re the kind of person who wants to dig out of credit card debt, there are other options you should consider when switching to a low-interest credit card. For example, you can pay less interest if you use a card like the MBNA Trueline Mastercard. Unfortunately, the space for low-interest credit card transfers is tight, and MBNAs “credit cards face intense competition.

Another MBNA True Line collection option is the Gold Mastercard, which offers $8.99 for purchases and transfers. In addition, it lowers the interest rate on the True Line Mastercard by another 4% and incurs an annual fee of $39. If you’re looking for a fee-free, low-interest credit card for everyday purchases and ultra-low balance transfers, this is a welcome offer, but it’s not crucial, and the True Lines card has lots to offer.

This offers some attractive features compared to newcomers to Canada’s credit card landscape, such as an ultra-low annual interest rate and no annual purchase fee. Despite the annual fee of $39, it offers the lowest annual buy rate of the industry at 8.99% and a cash transfer rate of 89.9%.

If you have a balance or persistent worry, this card is probably the best one for you. If you’re looking for a 0% balance transfer card in Canada, you’re unlikely to find anything else.

When applying for a credit card, it is important to be aware of the fees and interest that can be charged. In this review, we will take a closer look at this credit card and evaluate what fees it charges, what benefits it offers, and how to apply for it. Of course, carrying a balance and the interest rate depend on your credit rating.

For people who prefer credit cards offering generous rewards or people who prefer affinity cards for niche purchases, they may be especially in demand. Still, for the average person who wants just a good credit card without the drama, the MBNA Trueline credit card on its own is a great alternative to a great card. As you’d expect from a fee-free card or low-interest card, MBNA True Line offers plenty of gimmicks or rewards that, frankly, are something to chase when the primary goal is to save interest and get out of the red. Nevertheless, everyday credit card rewards can be redeemed, and bonuses can be cashed and offered at a low interest rate.