MBNA True Line® Gold Mastercard®

The MBNA True Line Gold Mastercard is a low-interest credit card with an outstanding welcome offer: those who qualify for this card can transfer a balance from an existing card and pay 0% interest for the first six months, making it a top choice for people who want to consolidate their debt and pay it off quickly. This card carries a fee, although there is a no-fee version called the MBNA True Line Mastercard. The difference is the Gold version offers one of the best interest rates in the market: 8.99% versus 12.99% for the no-fee card.

The annual fee clocks in at $39. For that price, though, you get a card that has an impressively low purchase interest rate, a totally unique welcome offer, and robust insurance coverage.

There are, however, a few extra fees consumers need to consider before applying for the MBNA True Line Gold Mastercard.

Since MBNA is owned by TD Bank, consumers who have credit card debt on a TD-issued credit card cannot transfer their balance onto their new MBNA card. There’s also a transaction fee equal to 1% of the dollar amount of each of your balance transfers (yes, you can transfer more than one balance!). A minimum fee of $7.50 also applies for each balance you transfer. This applies to the no-fee version as well.

The interest rate for access cheques is 8.99% and cash advances are 24.99%.

Why get the MBNA True Line Gold Mastercard?

Pay 0% interest on balance transfers - This promotional offer was what put the now-retired MBNA Platinum Plus on the map. Thankfully, consumers can still take advantage of MBNA’s offer of 0% interest on transferred balances for the first six months. Some one-time fees apply, but if you’re carrying credit card debt and you’re serious about tackling it, the MBNA True Line Gold Mastercard can save you a lot on interest over the long-term. Plus, you can transfer multiple balances.

Low annual fee - For $39 a year, cardholders have access to some of the lowest interest rates in the Canadian credit card marketplace.

Low interest on purchases and balance transfers - While some credit lenders charge significantly more interest on certain transactions, the MBNA True Line Gold Mastercard has a flat interest rate for most transactions: 8.99% on all purchases and access cheques. Cash advances carry a charge of 24.99%.​

Enhanced insurance coverage and customer service - MBNA's comprehensive suite of insurance benefits covers cardholders in a multitude of scenarios, be it identity or credit card theft, an unexpected death of an immediate family member, or serious injury in a rental car.