Financial institutions MBNA and CIBC both offer a credit card with a balance transfer option at 0% interest :
But which of these cards offers the best rate?
**Please note that the MBNA TrueLine Mastercard credit card is not available in Quebec.
Both credit cards offer a welcome bonus.
When you subscribe to the MBNA True Line® Mastercard® (Outside Quebec), you get balance transfers for :
With the CIBC Select Visa* Card, you will receive balance transfers for :
Both cards offer a 0% interest rate.
However, the CIBC Select Visa* Card has a transfer rate of 1%, which is lower than its competitor’s 3%.
Thanks to certain partners, credit cards offer more points or useful discounts for everyday purchases.
The MBNA True Line® Mastercard® (outside Quebec ) is very simple.
The CIBC Select Visa* Card has the same Visa Infinite advantages as its competitor.
For its general benefits, the CIBC Select Visa* Card wins this round.
Apart from the promotional 0% interest rate, the MBNA True Line® Mastercard® credit card (Non Quebec Residents) and CIBC Select Visa* Card offer standard interest rates.
The standard interest rate for MBNA True Line® Mastercard® credit card (Non Quebec Residents) is 17.99%.
The CIBC Select Visa* Card’s standard interest rate is 13.99%.
The CIBC Select Visa* Card ‘s standard interest rate is the better of the two cards, since it’s lower.
Let’s see which card is the least expensive.
The MBNA True Line® Mastercard® credit card (Non Quebec Residents) has an annual fee of $0. Easy to remember!
The CIBC Select Visa* Card has an annual fee of $29.
However, this card often has a reimbursement promotion to cover the fee. At present, the fee is fully reimbursed for 2 years.
With an annual fee of $0 at all times, it’s an obvious choice.
Both credit cards offer some insurances… or not!
The MBNA True Line® Mastercard® credit card (Non Quebec Residents) has no insurance coverage.
The CIBC Select Visa* Card offers something similar for insurance. View the insurance summary here:
For a card with little or no annual fee, it’s difficult for a financial institution to offer comprehensive insurance.
Even so, the CIBC Select Visa* Card is slightly superior. At an additional cost, it is possible to have certain coverages, and it offers coverage in the event of a problem on public transport abroad.
The MBNA True Line® Mastercard® (outside Quebec) requires :
To obtain a CIBC Select Visa* Card, you must meet the following easy criteria:
It’s easy to reach the minimum income required for both cards!
So? Which Card is the winner?
The CIBC Select Visa* Card has a slight edge thanks to :
While the MBNA True Line® Mastercard® (Outside Quebec) offers amenities such as:
Savings are here:
