MBNA Rewards World Elite Mastercard
10,000 bonus points + first-year fee waived
$2,000 spend in first 90 days
Annual fee: $120/year
MBNA credit cards
The best MBNA credit cards in Canada for 2026.
MBNA is a TD Bank subsidiary that issues co-branded Canadian credit cards including the MBNA Rewards World Elite Mastercard and the MBNA True Line low-interest card. The MBNA Rewards World Elite is one of the best-value Mastercard rewards cards in Canada.
Income range
$80,000 personal / $150,000 household for World Elite
Credit score
700+ for World Elite
Best for
Canadians who want a no-Amex rewards card with strong everyday earn, Costco shoppers (Mastercard works at Costco)
MBNA card lineup
All 1 MBNA cards we’ve tested.
About MBNA cards
What to know before applying.
MBNA's Canadian credit cards are issued by MBNA Canada Bank, a wholly-owned TD subsidiary. Their flagship MBNA Rewards World Elite Mastercard offers strong category-bonus earning (5x at restaurants, digital media, and grocery) at a competitive $120/year fee — often with a first-year fee waiver in the welcome offer. The card is a Mastercard, so it works at Costco Canada (which doesn't accept Amex).
Best for
Canadians who want a no-Amex rewards card with strong everyday earn, Costco shoppers (Mastercard works at Costco)
Not for
Travelers who need lounge access, those preferring Amex's travel insurance
FAQ
Common questions about MBNA cards.
Is MBNA owned by TD Bank?
Yes. MBNA Canada was acquired by TD Bank in 2011. MBNA cards in Canada are issued by MBNA Canada Bank, a TD subsidiary. Your MBNA Rewards points and account history are separate from your TD account, but the underlying issuer is TD.
What's the welcome bonus on MBNA Rewards World Elite?
MBNA Rewards World Elite typically waives the first-year $120 annual fee and offers 10,000-20,000 bonus points on a $2,000 spend in the first 90 days. Combined first-year value: roughly $200-300 net positive vs $120 of fees.
What is the earn rate on the MBNA Rewards World Elite?
5x MBNA Rewards points on eligible restaurants, digital media (streaming subscriptions, app stores), and groceries. 2x on travel. 1x on everything else. MBNA Rewards points are worth approximately 1 cent each when redeemed for cash back or merchandise.
Does MBNA Rewards World Elite work at Costco Canada?
Yes. The MBNA Rewards World Elite is a Mastercard, and Costco Canada only accepts Mastercard. This makes it one of the best 'Costco-compatible' rewards cards in the Canadian market, alongside the Capital One Costco Mastercard.