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MBNA rewards program dramatically reduced
June 29, 2021
9:00 am
KamWest
Toronto
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December 20, 2019
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Got my letter in the mail last night and this is the second time my MBNA Elite Mastercard has had its reward program shrunk.

This used to be the best cash back credit card but it is average now.

I was going to scan and attach the letter but this website pretty well covers the details.

https://creditcardgenius.ca/blog/mbna-rewards-mastercard-changes

June 29, 2021
9:04 am
KamWest
Toronto
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The website above says the card has gotten better but read past all that.

If you spend mostly in one category you only earn up to 50k in that category and the second card is now $50 which was free before.

I spend about 75k monthly mostly in one category and that tops out at 50k per YEAR now.

June 29, 2021
12:17 pm
Kidd
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February 27, 2018
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My TD credit card started off with a cash back offer of 1%, then they reduced the amount to 0.5%. They had the audacity to call their rewards program better because they offered an extended warranty on credit card purchases.

Knowing that the TD bank (or any Canadian bank for that matter) would never honor an extended warranty, i shook my head in disgust. Then about a year ago... the insurance company which held my extended warranty coverage, sold the business to another 3rd rate outfit.

Yes, cancel canada day.

June 29, 2021
2:04 pm
file
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As a flat rate spending card it's worse. If you have a good amount of spending in the 5pts category and don't exceed the limit, then it can actually be better - which for me makes it actually the best card if I just want mostly 1 card. To put it into perspective with my spending the previous card would give me $284.10 in travel/year. With the new program it's $607.43 in travel/year. These both take into account the annual fee. The second best card for me becomes the Scotiabank Amex Gold which I have now.

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