MBNA: Earn 0% interest for 12 months on balance transfers
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MBNA True Line® Mastercard® Credit Card
The MBNA True Line® Mastercard® Credit Card is one of the best options in Canada for a low-cost balance transfer. It’s ideal for cutting interest charges and consolidating your debt on a single card.
With this card, you get a 0% interest rate for 12 months on balance transfers made within 90 days of opening the account. The transfer fee is 3%, which is still competitive.
This card offers fraud protection to help keep your transactions secure.
If you’re looking to transfer balances from high-interest cards, the MBNA True Line® Mastercard® Credit Card gives you a 0% rate so you can pay down your debt at your own pace without high interest charges during the promotional period.
In short, the MBNA True Line® Mastercard® Credit Card is an excellent choice for reducing your debt and making the most of a balance transfer.
Our Advice on Using a Balance Transfer
We remind you: travel should not be done through debt. However, if you’re paying high interest charges on a credit card balance every month, don’t hesitate to take advantage of a credit card balance transfer offer like this one with the MBNA True Line® Mastercard® credit card.
Then plan a strategy to pay off your credit card debt:
- Do not make any new purchases on this new credit card: gradually pay down the credit card balance you have transferred by setting yourself a timetable, ideally for the next 6 months.
- Use your old credit card for all your day-to-day expenses and pay it in full each month, without leaving a balance behind as you may have done in the past.
- If you can’t manage it, make an appointment with your bank advisor to set up a more solid strategy (with a mortgage line of credit, for example, or a personal loan whose rate will often be much lower (4 to 5% instead of the 12 to 20% of credit card interest rates).
Check out the best balance transfer credit card offers, including the MBNA True Line Mastercard® Credit Card.
Frequently Asked Questions about the MBNA True Line 0% Balance Transfer Card
Here are frequently asked questions in the milesopedia community about this card.
How does the MBNA True Line 0% balance transfer offer work?
The MBNA True Line Mastercard offers 0% interest for 12 months on balance transfers made within 90 days of opening the account. Key details:
- 3% transfer fee applied to the transferred amount
- This offer is not available in Quebec due to provincial regulations
- No annual fee on the card
- The transferred balance must be paid off before the end of the 12 months to avoid retroactive interest
For a $5,000 transferred balance, you save approximately $1,100 in interest over 12 months (versus a 22% card), even after the $150 transfer fee.
Who is this balance transfer offer for?
This card targets Canadians who:
- Carry a high balance on a card at 19.99% to 22.99% interest
- Have the financial discipline to pay it off within 12 months
- Want to consolidate their debt to simplify payments
It’s not suitable for people who:
- Want to earn reward points (the card offers none)
- Reside in Quebec (offer unavailable)
- Won’t be able to pay off the transferred balance within 12 months
Once the balance is paid off, you can keep the card for its low rates or apply for a more rewarding card.
What is the interest rate after the 12-month promotion?
After the 12-month promotion, the remaining balance accrues interest at the regular balance transfer rate of 17.99% on the MBNA True Line. Note that the card’s purchase rate is only 12.99%, among the lowest in the Canadian market. This transfer rate remains lower than the rates for:
- 19.99% to 22.99% on most rewards cards
- 21.99% typical of store cards
- 24.99% and up on some prepaid cards
If you can’t pay off the full amount within 12 months, this post-promotion rate remains one of the lowest, making it an excellent backup card for managing a residual balance.
Can I transfer a balance from another MBNA card to this card?
No. MBNA, like most issuers, does not allow balance transfers between its own cards. The transfer must come from a card issued by another financial institution (Royal Bank, Scotia, BMO, CIBC, Desjardins, etc.). TD card balances are also excluded, since MBNA is a division of The Toronto-Dominion Bank.
The process:
- Apply for the MBNA True Line and get approved
- During the application, provide the source card number and the amount to transfer
- MBNA pays the other issuer directly within 7 to 14 business days
Check your approved credit limit before planning a large transfer to ensure it covers the balance to be transferred.
What happens if I miss a minimum payment?
You lose the 0% rate before it was due to end. Under the terms published by MBNA as of September 2026, the promotional rate ends on the first day of the second statement period following any late minimum payment. The remaining balance then moves to the card's standard balance transfer rate. Without a late payment, each eligible transfer keeps the 0% rate for 12 statement periods from its transaction date. Setting up an automatic payment for at least the monthly minimum removes this risk.
Does the Gold version also offer 0%?
No, not as of September 2026. The official page for the MBNA True Line® Gold Mastercard® shows no balance transfer promotion at account opening. Instead, it relies on lower standard rates:
- Annual fee: $39
- Purchase rate: 10.99%
- Balance transfer rate: 13.99%, with a 1% fee (minimum $3.50 per transfer)
These are the rates MBNA shows for Ontario, and they may vary by province. To pay off debt within 12 months, the no-fee version and its 0% promotional rate generally cost less.
Can I get 0% by switching MBNA cards?
MBNA doesn't promise it. Its offer covers balance transfers made within 90 days of opening an account, and its terms don't mention product changes, such as moving from the MBNA Amazon.ca card to the True Line. In addition, a balance transfer can't be used to pay off a balance held with MBNA or any other member of TD Bank Group. Before switching cards, ask MBNA whether the promotional rate will apply to your account.