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Financial institutions like MBNA and CIBC each offer a credit card with balance transfer at 0% interest :
But which of these cards offers the best rate?
**Please note that the MBNA True Line® Mastercard® credit card is not available in Quebec.
Both credit cards offer a welcome bonus.
By applying for the MBNA True Line® Mastercard® credit card, you get for balance transfers:
Thanks to the CIBC Select Visa* Card, you’ll get for balance transfers :
Both cards offer a 0% interest rate.
However, 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® credit card is very simple.
The CIBC Select Visa* Card has the same Visa Infinite advantages as its competitor.
For its everyday benefits, the CIBC Select Visa* Card wins this round.
Apart from the promotional 0% interest rate, the MBNA True Line® Mastercard® credit card and CIBC Select Visa* Card offer a standard interest rate.
The standard interest rate for the MBNA True Line® Mastercard® credit card is 17.99%.
The standard interest rate on CIBC Select Visa* Card is 13.99%.
The standard interest rate on the CIBC Select Visa* Card is the better of the two cards, as it is lower.
Let’s see which card is the least expensive.
The MBNA True Line® Mastercard® credit card has an annual fee of $0. Easy to remember!
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 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 higher. 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® credit card requires:
To get a CIBC Select Visa* Card, you must have 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 lead thanks to:
While the MBNA True Line® Mastercard® credit card offers conveniences such as:
Savings are here (if you don’t see the sign-up form, please click here):
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