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Email this1:34 am
December 12, 2008
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Hi Mike,
That I cannot confirm, I myself have never filled up at a Costco Gas Station.
Your best bet is to try it once, wait 2-3 days for the transaction to post and see if you got 1% or 3% (or 5% if within 6 month promo).
djino
"goodluck"
4:07 am
I applied it recently and got turned down. called them and I was told i got 1 late payment 5 years ago on my current credit. well. It's not the end of the world. I think they probably just don't want to give this card to me. My credit score is excellent sitting at 824 and annual income is over $55,000. I think they were making an excuse to reject me.:???:
2:45 pm
When they do the credit check, witch company are they inquiring? Equifax or Trans-Union?
Thanks...
1:03 am
December 12, 2009
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I confirmed with an account services representative with MBNA Canada Bank that the MBNA Platinum Plus Smart Cash MasterCard (its actual name) is available for those earning $35,000 but she didn't specify a hard an fast limit. She said their credit approval department would simply approve the person for a lower credit limit based on their income, credit score and other factors, as we suspected. They simply promote that high income limit to attract people for a $25,000+ credit limit. So, for someone earning about $30,000 (like me), I would think one could possibly qualify for in excess of $10,000. Anyone have any other guesses?
Cheers,
Doug
6:35 pm
I am an exist customer in MBNA. I submitted my application online on Aug.2,10. Today I called them, they transferred my phone to three different departments. The last rep. checked everything then replied to me that my application is approved today. I will receive my new credit card in 7-10 business days. Also, I asked if I can upgrade my current mastercard to this new card, answer is "NO". Oh well, now I have tow credit cards with MBNA.
2:19 am
Jeff said:
I applied it recently and got turned down. called them and I was told i got 1 late payment 5 years ago on my current credit. well. It's not the end of the world. I think they probably just don't want to give this card to me. My credit score is excellent sitting at 824 and annual income is over $55,000. I think they were making an excuse to reject me.:???:
Wow.. I applied with a score of 763 and nothing as for late payments and got the card with a 15k limit... Weird. Now I really dont know how they "figure" credit stuff out.
10:58 pm
December 12, 2009
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763 is actually quite a good beacon score. I know that anything over 680 is considered average to good credit.
What did you enter for an income to qualify for the $15,000 credit limit?
Cheers,
Doug
8:31 am
I just applied and got approved for the MBNA Platinum Plus Smart Cash Card after noticing it on their site, and can't wait to start using it.
Question: Are Wal-Mart purchases 1% cash back? It's too bad because a lot of the Wal-Mart supercentres offer a full-sized grocery store inside, and we began shopping there for all our groceries in the past few months as their prices are superior to Zehrs/Loblaws for many of the items we get. Ah well, at least the higher cash back for fuel purchases is great with this card!
9:46 am
December 12, 2008
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@Prag
I've been reading on other sites that as of October 14th, Wal-Mart Super-centers qualify under grocery purchase. (3%/5%)
djino
10:08 am
Hi guys, just received my smart cash card today.
Was thinking of buying some gift cards and take advantages of the 5% cash back
where should I buy them at? (what gas station/store) carries the most variety of gift cards?
thanks
10:52 am
Doug said:
763 is actually quite a good beacon score. I know that anything over 680 is considered average to good credit.
What did you enter for an income to qualify for the $15,000 credit limit?
Cheers,
Doug
I have a credit score of between 660-680 (I assume, applied for a credit line and got score of 658, that was 6 months ago), and I got it, although I never late on a payment in my life. My low score is probably due to my young age.
3:44 pm
December 12, 2009
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When did you apply for the credit line, Bob?
It's probably your age a bit but more than anything it's generally length of credit history (number of outstanding monthly payments and your payment track record), number of facilities opened and whether or not you have any public judgments, garnishments or collection agency records. 680 is still a good score and is generally the minimum threshold for many financial institutions to offer you "cash back" limits on your debit cards so that there are no holds on some or all of your ATM deposits (i.e., HSBC Bank Canada). Basically, a rule of thumb, always aim to be above 680 and never let yourself go below 600 - that's where your ability to get credit from bank lenders will be almost impossible. A beacon score of 600 essentially means someone with no credit history and a credit bureau was just opened for them.
I only have a Scotiabank SCENE Visa which I've had since January 2005. All payments have been R1 and my credit limit is $1000. When I joined HSBC in January 2008, after three years of R1 payment history, my credit score was 284 and my beacon score was over 780 or 790. I'm guessing, given the time elapsed, I would be at or near a 300/800 dual score rating. I'm also young as well (27).
If you've had credit for less than a year, a 680 score is about where you should be. Over time, that can only approve. After you've had your credit line for a couple years, I'd recommend adding a second facility and continue to make regular payments on that. That will only further increase your score. Having multiple facilities and higher credit limits, while not maxing them out, is actually beneficial.
Cheers,
Doug
4:02 pm
Doug said:
When did you apply for the credit line, Bob?
I applied a couple of weeks ago, got it on Friday. with 5000 credit limit. I'm 22 years old, I also carry a CIBC Aerogold card for last 6 months (also 5000 credit limit)
Anyone know for sure that Walmart Superstore is a part of the "grocery" list?
and also, any place you can buy APPLE gift card? (not iTune card, but for purchases of hardware)
thanks
6:56 am
December 12, 2008
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@Bob
Getting Gift cards to take advantage of the 5% promo would depend on where you shop mostly.
For myself, I found getting gift cards not that worth while as I usually managed to git $650-700/month on Gas/Grocery purchases which is over the cap limit.
Look at your spending habits on a calendar month basis. If you spend over $600 (Gas/Groceries Combined) then it doesn't make sense to get gift cards because eventually you'll only be getting 1% on these purchases.
If you are NOT getting close to the $600 mark, then it make sense to take advantage of the other non-gas grocery purchases that you would only get 1% at, and see if you can purchase gift cards at gas/grocery stores to take full advantage of the $600 at 5%.
djino
7:15 am
December 12, 2009
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Bob said:
I applied a couple of weeks ago, got it on Friday. with 5000 credit limit. I'm 22 years old, I also carry a CIBC Aerogold card for last 6 months (also 5000 credit limit)
Anyone know for sure that Walmart Superstore is a part of the "grocery" list?
and also, any place you can buy APPLE gift card? (not iTune card, but for purchases of hardware)
thanks
hi Bob,
From the sounds of it, the reason your credit score is only 660-680 is because your credit is too new. If those are the only enquiries you've had in six months, that's probably not too many so shouldn't be affecting your score much but I would limit yourself to one or two enquiries every six months (that's credit-related "hard" enquiries").
Give it two to three years and I think you'll have a score above 750, provided all your payments are "paid as agreed" - that's key.
Cheers,
Doug
6:53 am
@Prag I've been reading on other sites that as of October 14th, Wal-Mart Super-centers qualify under grocery purchase. (3%/5%) djino
Thanks for the tip! Is this confirmed for certain at this point? That would be great if Walmart super-centers grocery purchases now qualify for the higher 3%/5% cashback, since I'd really prefer to keep shopping there.
My partner and I both got our cards in the mail yesterday, about 7 business days from the evening we had applied. Now that's fast! When we called to activate, I also found the MBNA customer service people on the phone to be extremely professional and uber-polite. It was also obvious they were Canadians, not overseas staff that you can barely understand. I like that since I don't appreciate seeing middle class jobs outsourced overseas (except in the case of 11pm-7am night shifts when people really should not be working for quality of life reasons).
The card itself is quite pretty, and I like that it has the chip. I notice MBNA puts a much longer 3 year expiry dates on their cards. Any other Mastercard I've had always has a one year expiry date.
2:26 pm
I made a purchase at a Wal-mart Supercentre a few days ago with my MBNA Smart Cash card, and can confirm that I got the 3%.
Cheers,
Brett
4:57 am
March 17, 2011
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Can i apply for this card even if i only have a fair credit rating?
5:28 am
December 12, 2008
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jonathanpaul said:
Can i apply for this card even if i only have a fair credit rating?
No one here is going to know the answer to this. Your best bet is to just apply and see what they say.
djino
"Goodluck!"
3:58 am
March 17, 2011
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I have already talked to a customer representative and i would require a good credit rating. I was advice to improve my credit rating through getting a secured credit card. Can you give me any advice which secured credit cards is best to apply for?
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