MBNA Rewards World Elite MasterCard Devalues

Brutal Devaluation Coming to MBNA Rewards WE

A popular MBNA cash back credit card is going through a two-fold massive devaluation. Not only is the annual fee is increasing, but also its point redemption rates are being axed by TD.

Starting September 6, 2018, MBNA Rewards WE’s annual fee will be $120, up from $89. If that’s not bad enough, MBNA is decreasing the rewards rate of return on this card from a flat 2 percent to 1.67 percent starting February 1, 2019.

Currently each 100 points generates $1 cash back, giving the card a 2 percent flat return on all purchases because it earns 2 points per dollar spent. After the devaluation to generate $1 you would require 120 points.

However, for travel redemptions only, the devaluation does not kick in because you will still get 2 percent return or $1 for in that category.

Most MBNA Rewards cardholders use this card for the cash back feature, so after devaluation MBNA will lose a lot of its clients. MBNA is aware of that because it’s lowering its minimum points requirement to redeem points from 5,000 to 1,000 from September 1, 2018 to January 31, 2019.

Even if you use this card solely for travel redemptions, you should take a hard look after the devaluation because of the annual fee increase and this card has minimal insurances.

There are other cash back credit cards available that can replace MBNA Rewards World Elite MasterCard and even provides better benefits. I have discussed these cards and the MBNA devaluation in this video: Brutal Devaluation | MBNA Rewards World Elite MasterCard |

Since TD took over MBNA, they keep slashing rewards and benefits for most of that MBNA cards one by one, even including TD’s own travel rewards cards.

Because there are better options available, always look for something better to get the most out of your credit cards.