MBNA's Smart Cash Card - BEST CASHBACK CREDIT CARD EVER!!! | Page 14 | Credit card reward programs | Discussion forum

Wow, great tip. Thanks Peter!

Doug said

Great link, Peter.

I was surprised to see Wal-Mart Canada is categorized as only 1% rewards with MBNA's SmartCash cards. If that isn't a "gas & grocery" retailer, I don't know what is.

That's the problem with these cards that give extra rewards at certain retailers - MasterCard and/or VISA categorize the retailers poorly.

I'd rather take 1.5% anywhere I shop with no annual fee and, so far, Wal-Mart Canada MasterCard and BestBuy Reward Zone VISA are the leading candidates for my business.

Cheers,
Doug

Actually most Walmart stores are categorized as a grocery store. If the Walmart in question does not have grocery section, then it most likely will not be considered a grocery store by mastercard.

Another MBNA card that i have yet to post here due to limited availability (it comes and it goes a few times a year) is their Rewards Travel Card. This card gives 2% cashback on any purchase with no limit and no annual fee.

It became available in August but then became unavailable at the end of September. I believe this card works out to be a better cash back card than the smart cash. I use both now to maximize my cash back by using smart cash for gas/grocery purchases up to $600 and my rewards travel card for everything else.

The next time it becomes available,i will create a topic on it.

Djino

Doug said

Yeah, I'd take a no-fee 2% rewards/cash back card over one of the ones that plays 3-6% on gas/groceries any day.

However, what I was referring to was the website Peter provided, oops you provided, that lists "Wal-Mart Canada" as a 1% merchant (https://www.onlinesmartcashmall.com/allretailers.htm).

Cheers,
Doug

I think you are a bit confused. The smart cash mall is a set of bonus cashback that you will receive in additional to the normal cashback you would receive. More specifically, these are purchases you make online at the retailers listed in the eMail.

Example: Walmart.com is 1%. When you make purchases online, you will automatically get 1% cachback, but in addition, you will receive another 1% bonus by making the purchase through at Walmart.com (if you click through the Smart Cash Mall) to access the website to give you a total of 2% return.

Though in this example, one would receive a better return by simply purchasing a product directly at a Walmart store as most WalMart stores now quality as a Grocery store (assuming you have spent < $600 on gas/groceries during the time you make the purchase).

But if you take a look through most of the online retailers at the SmartCash Mall, you will notice that you will receive a greater bonus than the 1% offered with WalMart.com.

djino

I really don't like that drop.

Now what? They will make it annual fee of $39 if you want the good old 3% cash back?

If the 2% affects the old customers, I'm dropping it too no hesitation.

With all the traveling I'm currently doing, a card with point for plane tickets will be by far more advantageous for me than a 2% cashback card. And I will make sure not to go with TD.

James said

Again, thanks Djino for keeping us up to date on this! It would be disappointing if they decide to do this for existing customers. Anyone have thoughts on another no fee cash back credit card out there that would give us the same or better value?

There are plenty of Annual Fee based products out there that could give you a better return depending on your spending pattern - Scotiabank has a few Visa and Amex products to consider.

As for no fee. There are not any I can think of. Most only give a 1-1.5% return. I was lucky to jump on the MBNA Rewards Travel card when it was available that gives a straight 2% cash back on everything no limit, but whos to say when MBNA (TD) will change the terms of this product.

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Right now I will continue as follows:
- MBNA Smart Cash Card (no annual fee) -> for 3% on Groceries
- Costco True Earnings AMEX (no annual fee) -> for 2% on Costco Gas (Costco gas stations are usually 5c+/litre cheaper than the rest on 91 Premium Octane Gas)
- MBNA Rewards Travel Card (no annual fee) -> for 2% on Everything else

If MBNA Smart Cash Card drops to 2% for existing clients, then I will cancel the card and continue with the other 2 above.

djino

Doug said

Thanks for the updates, djino. If you receive one of those letters from TD, can you black out the sensitive information and scan a copy and post it here for us to read?

Of Course.

Doug said

I'd like the MBNA Rewards Travel Card, djino - to me, it offers the best value with no annual fee and no wondering what merchant is categorized a certain away. Is that card available on their website yet or is it still in a sort of trial basis where existing customers have to request their card be converted to it by speaking to a CSR?

It is available on their website -> https://www.mbna.ca/RWDapp/home?mc=WPTRCN&locale=en_CA

But you cannot apply online NOR by phone for this card. In August, they allowed conversions to this card, but that ended a few weeks ago (Oct 6th, 2012). Instead of converting my smart cash card, I opened up a regular platinum plus card, and had that convert to the Rewards Travel Card so I could use both to maximize my cashback. The reps say, they offer this only a few times a year. As soon as I hear it being offered again, I will create a new topic for it here.

Doug said

Do you know of any no-fee, 1.5%+ cash back rewards cards? Currently, Best Buy Canada's Reward Zone Visa and Wal-Mart Canada MasterCard come close, at something like 1.25%. I want a MasterCard (only have a Scotiabank SCENE Visa) but want at least 1.5%.

I'm also surprised how long TD is keeping the MBNA brand. Why don't they fully integrate it into TD, like CIBC did with Citi Cards Canada?

Cheers,
Doug

I am not familiar with any other no fees credit card offering more cash back than what was already stated. But I will investigate and let you know.

djino

The best Alternative I can find with no annual fee at this point is the ASPIRE CASH™ WORLD MASTERCARD®

Card gives 1.5% Cashback = 1% Cashback + 0.5% bonus given annually on all purchases.

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EDIT: RBC Cash Back Mastercard gives 2% Cash back on "Groceries" on a maximum spending of $6,000 annual.

djino

djino said

I should probably edit the title too, as this is no longer the "best cashback credit card ever".

Hehe, correct.

I will call on the 1st of December and officially cancel all my MBNA products.

Anyways it's not a big loss since I'm buying an all-electric car and will never have to go at a gas station ever again.
I buy all my vegetables and fruits at the local market which obligated me to pay cash. And credit cards are not accepted at Costco.

Thus, there is no point at all in having a 1% cash back credit card on everything.

Now with my new lifestyle, traveling around 6 weeks per year and taking the plane minimum 4 times back and forth with my girlfriend I will obviously have to go with a travel-reward based credit card. Any you would suggest me? I spend an average of $20 000 annually on my credit card paying for plane tickets, all-included bike trips, medical exams, ebay mainly bike parts.

I take any suggestion!