What is the difference between the MBNA Rewards World Elite Mastercard and the MBNA Rewards Platinum Plus Mastercard?

The World Elite is the premium version, with a $120 annual fee, a $80,000 personal income requirement, and 5 points per dollar on groceries, dining, digital media, memberships and household utilities up to $50,000 a year. The MBNA Rewards Platinum Plus Mastercard has no annual fee, no income requirement, and earns 2 points per dollar on the same categories up to $10,000 a year. Both cards add a 10% birthday bonus on points earned, and both redeem points starting at 1,200 points = $10 cash back, statement credit or charity donation.

How is the 10% MBNA Rewards birthday bonus calculated?

Each year, MBNA adds a 10% bonus on top of all the points you earned during the previous 12 months, capped at 15,000 bonus points on the World Elite and 1,500 on the Platinum Plus. So if you earn 80,000 points in a calendar year on the World Elite, you receive an extra 8,000 points around your birthday month — pushing the effective return on 5x categories to 5.5 points per dollar. The bonus is automatic and posts within one or two statements after your account anniversary, with no opt-in required.

Are MBNA Rewards points worth more for travel or for cash back?

MBNA Rewards points are worth a flat 1 cent per point regardless of how you redeem them — there is no travel multiplier. You can cash them out as a statement credit, deposit them into an MBNA bank account, book travel through the MBNA Rewards portal, or buy gift cards, and you always get the same 1 cent value. That makes MBNA points easier to evaluate than Aeroplan or American Express Membership Rewards, but it caps the upside: there's no equivalent of redeeming for premium-cabin flights at 2-4 cents per point.

Is the MBNA Rewards World Elite Mastercard accepted at Costco?

Yes. Costco Canada accepts all Mastercard cards at the till and at Costco gas bars, so both the MBNA Rewards World Elite and the Platinum Plus work there. Costco purchases earn the base 1 point per dollar (and 1.1 with the 10% birthday bonus), which makes the World Elite a reasonable secondary card for warehouse runs. For grocery and dining spending elsewhere, the 5x categories will outperform any Costco co-brand card.