MBNA Rewards Platinum Plus® Mastercard® Credit Card Review

MBNA Rewards Platinum Plus® Mastercard® Credit Card Review

Last Updated on May 9, 2021 by Borche Stefanov

The MBNA Rewards Platinum Plus card is most notable for its $0 annual fee. Combine that with the lack of minimum-income eligibility requirements and this card is available to everybody. This card offers incredibly competitive interest rates in all categories; its cash advance rate is 24.99%, the balance transfer rate is 22.99%, and the interest rate on regular purchases is 19.99%. These rates ensure that you will not be paying more interest on this card than any other comparable competitor’s card, so you can reap the benefits without being penalized on interest.

The points system is quite simple to follow; you will receive two points for every dollar spent on eligible gas, grocery, and restaurant purchases. There is a $5000 annual cap for each of those categories, so that’s something to keep in mind. All other purchases will earn you one point for every dollar spent, including purchases from the higher earning categories that go over the cap. The points you earn can be redeemed in a variety of ways: you can use them to pay for travel expenses, redeem cash back, donate to charity, pay down your credit card balance, or purchase new items from the MBNA Rewards catalogue.

  • Variety of options to redeem points
  • $0 annual fee
  • Easy-to-get welcome bonuses
  • No eligibility requirements, so anyone can apply
  • Competitive interest rates

Specification: MBNA Rewards Platinum Plus® Mastercard®

Annual Fees

$0

Interest Rate

19.99%

Balance Transfer

22.99%

Cash Advance

24.99%

Network
Card Type

Cashback

0

MBNA Rewards Platinum Plus® Mastercard® Details Summary

  • Interest Rate: 19.99%
  • Interest Rate Promo: N/A
  • Balance Transfer Rate: 22.99%
  • Balance Transfer Rate Promo: N/A
  • Cash Advance Rate: 24.99%
  • Cash Advance Rate Promo: N/A
  • Annual Fee: $0
  • Card Best Suited For: Frequent vehicle renters, credit card newbies
  • Reward Type: MBNA Rewards points
  • Signup/Welcome Bonus Offers: Maximum of 10,000 bonus points, double the points from purchases for the first 90 days

MBNA Rewards Platinum Plus® Mastercard® – Best Suited For:

This card is ideally suited to a couple different groups of people. First off is frequent vehicle renters. Whether you travel domestically or internationally, this card will help you get some discounts on car rentals wherever you are. With reduced rates worldwide, you’ll never have to worry about overspending on a rental again. Frequent travelers will also benefit from the flexible rewards program as the points you earn every day can be used to cover travel expenses. Domestic travel is a better fit for this card as there is no travel insurance provided.

This card is also a great choice for credit card newbies. As first cards go, it doesn’t really get better than this MBNA option. There is no annual fee or eligibility requirements based on income, so the application is open to literally everybody. The welcome bonuses are easy to get, so you’ll be able to take advantage of a sizable points balance fairly early on, especially if you are a big spender. The regards program is also very flexible, so you’ll be able to use your points for whatever fits you at the time. Extended warranty on purchased products is just another benefit that makes this card ideal for first timers.

9.5 Total Score
MBNA Rewards Platinum Plus® Mastercard® Review

PROS
  • No annual fee
  • Anyone can apply, no minimum income requirements
  • Flexible rewards program
  • Extends warranty by up to a year on purchased products
  • Rental car discounts worldwide
  • Welcome bonus points are very easy to get
CONS
  • Higher interest rate for cash advances than average
  • Annual cap on 2 points per dollar purchase categories
  • No travel insurance
  • More limited sign-up rewards than comparable cards
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