Changes are afoot in the online credit card space.
Starting Sept. 4, MBNA will no longer offer the Rewards World Elite card to affiliates — including rate comparison sites like ours.
However, it is adding two new cards to the channel that you’ll be able to compare on our site: the MBNA Smart Cash Platinum Plus Mastercard and the MBNA Smart Cash World Mastercard.
In addition, there’ll be some changes being made to the MBNA Rewards card, which will be re-launching on Sept. 5.
So, a lot of changes. Let’s take a look at what choices you’ll have with the new cards.
MBNA Smart Cash Platinum Plus
First up, the MBNA Smart Cash Platinum Plus Mastercard. This one has no annual fee, and an eye-catching 5% cash-back on eligible gas and grocery store purchases in the first six months (though the 5% is only on the first $500 you spend each month).
When the promo is over, the return drops to 2% on eligible purchases (again, only on spending up to $500). The cash-back on all other purchases is 0.5%.
Now, interest rates: annual APR is 19.99%, while balance transfers are 22.99% and cash advances are 24.99%.
All of that is pretty standard for the industry.
MBNA Smart Cash World
The Smart Cash World nets you a bit of a better reward, though you’ll be trading it for an annual fee of $39 and a minimum income requirement of $60,000.
If you qualify, you get you a 1% cash-back reward on all purchases, compared to 0.5%. The same 5% intro offer is available on this card and it also transitions to 2% on eligible purchases once the offer is over.
All APR rates are the same as the Smart Cash Platinum Plus.
Now, for those changes to the MBNA Rewards.
This card comes with 19.99% APR, 22.99% balance transfer APR and 24.99% cash advance.
There’s no annual fee, and you’ll get one MBNA point for $1 in purchases, and two points for every $1 spent in on eligible gas, restaurant and grocery purchases.
This card also comes with a bonus point offer: get 2,500 bonus points when you make your first eligible purchase within 90 days (basically, use your card) and get another 2,500 points when you sign up for paperless e-statements within 90 days.
We’ll have a full review of all of these cards soon to give you a sense of how they stack up against the competition and what the points are actually worth.