RIP MBNA Smart Cash Mastercard

29 Oct

I’m a current MBNA Smart Cash Mastercard who enjoys getting 3% cash back on gas and groceries and 1% for all other net purchases.  But all that is about to come to an end by December 31, 2012:

  • GAS/GROCERY:  3% cash back on your for first $600 in monthly spend will be reduced to 2% cash back for the first $400 in monthly spend 
  • You will continue to earn 1% on all net purchases, with no cash back earned limit (Ohh, how generous of them… bastards!)  <– Allan pointed out that there is now $1250 monthly spending limit on 1% cashback for Platinum Plus cardholders 😦

Earlier in the year, TD Bank bought out the Canadian division of MBNA.  With this new ownership, the awesome reward system that was currently being offered is now being slashed by greedy TD Bank.  I dislike banks with a vengeance for changing the rates.  Why can’t they just honor the terms that was first agreed in the first place?

Now, I am worried about Scotia Bank who has bought out my free online banking at ING Direct.  Will they also implement a fee to squeeze out more profit from their customers?

On a positive note:  I earned $2.33 so far from my Redflagdeal Cash Back account.  I can’t wait to get cash back for a recent purchase of a Macbook Pro for a coworker, too bad I forgot to use Redflagdeal Cash Back account for an Iphone 5 purchase through the Apple site.  Let me clarify, I’ve been put in charge using company’s credit card for buying Christmas gifts online for a set monetary bonus limit for other coworkers.  I just use it to my advantage ^_^  Might as well right?

Check it out if you like to do a lot of online shopping:   http://www.redflagdeals.com/cashback/

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10 Responses to “RIP MBNA Smart Cash Mastercard”

  1. Alex Yang (@yyangalex) October 30, 2012 at 2.33 #

    yea…. heard about this card on RFD a week ago. cant say im shocked. makes sense as it was leaps and bounds better than the next best free cash back card. probably just a matter of time before my Capital One Travel Aspire is made worse as well.

    • agentfang October 30, 2012 at 2.33 #

      Gasp u never heard of Smart Cash till recently its the numero uno cash back for RDF for years! Yea I have Aspire too… Hope they don’t take away the good perks!

      Sent from my HTC

      • Alex Yang (@yyangalex) October 30, 2012 at 2.33 #

        oops i mean i heard about its demise… i heard of the card before but wasnt that interested, since i didnt wanna carry around an extra card just for gas/groceries. im lazy 😛 i like just carrying 3 cards, a MC, a Visa, and my oldest card.

      • agentfang October 30, 2012 at 2.33 #

        Hehe I see, minimal is good! Ya I just found out last night kinda pissed been getting good cash back.

        Sent from my HTC

  2. allan November 7, 2012 at 2.33 #

    You haven’t commented on the worst part. The 1% is now capped at $1,250. After that. . . nothing. I will be cancelling and looking into Scotia’s Infinite Dividend.

  3. bob December 1, 2012 at 2.33 #

    if you get upgraded to the smart cash world card, those limits are waived.

    • agentfang December 3, 2012 at 2.33 #

      Thanks for the tip, I tried calling MBNA for an upgrade… but I wasn’t eligible. Need $60k personal gross income (no way) or household income of over $80k to qualify. Spending a least $20k a year. I updated my household income on my profile, we’ll see if I can be upgraded or not.

  4. amy January 2, 2013 at 2.33 #

    Just got this cash back card and loving it so far. It’s lot better than my other credit cards. I used it at Targets for iPad and got 5% back.. I applied mine through Great Canadian Rebate and got an additional $60 cash rebate.

    https://www.greatcanadianrebates.ca/Register/143370/

Trackbacks/Pingbacks

  1. Alternative to MBNA Smart Cash Platinum Mastercard « time will only tell - November 8, 2012

    […] noticed I’ve been getting more hits as a result of my recent post:  RIP MBNA Smart Cash Mastercard  Here is my alternative […]

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