Comparison: MBNA True Line Mastercard Credit Card vs CIBC Select Visa* Card
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The financial institutions MBNA and CIBC each offer a credit card with 0% interest balance transfer offers:
But which of these cards is the better deal with such an attractive rate?
**Please note that the MBNA True Line Mastercard credit card is not available in Quebec.
- Annual feeNo annual fee the first year
- $0 $29
- Our valuationMilesopedia first-year estimate First-year valueAnnual fee rebated$29Total$29Rewards on your spending are not included. The calculator that adds them from your own profile is on the card's page.
- $29
- Welcome offer$29 annual fee rebated
- First-Year Annual Fee Rebate
Apply Now
on CIBC's website
Welcome bonus – Balance transfer
Both credit cards offer a welcome bonus.
When you apply for theMBNA True Line® Mastercard® (Outside Quebec), you get the following for balance transfers:
- 0% interest on balance transfers for 12 months
- 3% transfer fee
With the CIBC Select Visa* Card, you will get the following for balance transfers:
- 0% interest for 10 months
- 1% transfer fee
Advantage: CIBC Select Visa* Card
Both cards offer a 0% interest rate.
However, the CIBC Select Visa* Card has a 1% transfer fee, which is lower than its competitor’s 3%.
Exclusive Benefits and Savings
Thanks to certain partners, credit cards offer more points or useful discounts for everyday purchases.
TheMBNA True Line® Mastercard® (Outside Quebec) is very straightforward.
- Up to 9 additional cards with no annual fee
- Fraud protection at all times
- Card made entirely from recycled plastic
- At least 5% off Avis and Budget car rentals
The CIBC Select Visa* Card offers the same Visa Infinite benefits as its competitor.
- Up to 3 additional cards with no annual fee
- Personalized Practical Cheques available to order
- Link your card to Journie Rewards to save up to 10 cents per litre of gas at Ultramar, Pioneer, Fas Gas, and Chevron
- Up to 25% off Avis and Budget car rentals
Advantage: CIBC Select Visa* Card
For everyday benefits, the CIBC Select Visa* Card wins this round.
Standard balance transfer interest rate
Outside the 0% promotional interest rate, theMBNA True Line® Mastercard® (Outside Quebec) and the CIBC Select Visa* Card have a standard interest rate.
The standard interest rate on theMBNA True Line® Mastercard® (Outside Quebec) is 17.99%.
The standard interest rate on the CIBC Select Visa* Card is 13.99%.
Advantage: CIBC Select Visa* Card
The standard interest rate on the CIBC Select Visa* Card is the better of the two, as it is lower.
Annual Fee
Let’s see which card costs less.
TheMBNA True Line® Mastercard® (Outside Quebec) has a $0 annual fee. Easy to remember!
The CIBC Select Visa* Card has a $29 annual fee.
However, this card often comes with a promotion that reimburses this fee. Right now, the fee is fully reimbursed for 2 years.
With a $0 annual fee at all times, it is an obvious choice.
Insurance
Both credit cards offer some insurance… or not!
TheMBNA True Line® Mastercard® (Outside Quebec) has no insurance coverage.
| Travel Medical Insurance | None |
| Travel insurance – Public transport | None |
| Other insurance | None |
The CIBC Select Visa* Card offers something similar in terms of insurance. View the insurance summary here:
| Travel Medical Insurance | Available as an option at extra cost |
| Travel insurance – Public transport | $100,000 |
| CIBC Payment Protector InsuranceTM | Available as an option at extra cost |
Advantage: CIBC Select Visa* Card
For a card with little to no annual fee, it is difficult for a financial institution to offer strong insurance coverage.
Even so, the CIBC Select Visa* Card is slightly better. For an additional cost, certain coverages can be added, and it provides coverage if there is an issue with public transportation abroad.
Minimum Income
TheMBNA True Line® Mastercard® (Outside Quebec) requires:
- a minimum individual income of $0
To get a CIBC Select Visa* Card, you must meet the following easy criterion:
- No minimum personal income is required, but a minimum household annual income of $15,000 is required.
Advantage: MBNA True Line® Mastercard® (Outside Quebec)
The MBNA True Line® Mastercard® (Outside Quebec) stands out because it requires no minimum personal income or minimum household income, unlike the CIBC Select Visa* Card, which requires a minimum household annual income of $15,000.
Bottom Line
So? Which Card is the winner?
The CIBC Select Visa* Card has a slight edge thanks to:
- Its 0% welcome offer and lower 1% transfer fee
- Savings of up to 10 cents per litre of gas with the Journie Rewards program
- Lower standard interest rate
- The option to add insurance coverage
Whereas the MBNA True Line® Mastercard® (Outside Quebec) offers conveniences such as:
- A 0% interest rate for 2 additional months
- A $0 annual fee at all times
- Annual feeNo annual fee the first year
- $0 $29
- Our valuationMilesopedia first-year estimate First-year valueAnnual fee rebated$29Total$29Rewards on your spending are not included. The calculator that adds them from your own profile is on the card's page.
- $29
- Welcome offer$29 annual fee rebated
- First-Year Annual Fee Rebate
Apply Now
on CIBC's website
Frequently Asked Questions about MBNA True Line Mastercard vs CIBC Select Visa
Here are frequently asked questions in the milesopedia community about this card.
Which card offers the best balance transfer offer?
It depends on how long you need. The MBNA True Line Mastercard offers 0% for 12 months with a 3% transfer fee. The CIBC Select Visa Card offers 0% for 10 months with a fee of only 1%. On a $10,000 transfer, MBNA charges $300 in fees versus $100 for CIBC. If you repay within 10 months, CIBC saves you $200. If you need the extra 2 months, MBNA remains the right choice despite the higher fees.
What are the interest rates after the promotion?
At the end of the promotional period, the MBNA True Line returns to 17.99% APR, while the CIBC Select charges only 13.99% APR, one of the lowest standard rates in Canada. If you may carry a balance after the promotion, CIBC’s 4-percentage-point gap makes a real difference: on a remaining balance of $5,000, the savings reach $200 per year, which more than offsets the CIBC Select’s $29 annual fee.
Are the $29 annual fees really reimbursed?
Yes, but temporarily. CIBC is currently reimbursing the $29 annual fee for the first 2 years as part of its promotional offer. After the 2nd year, the $29 returns unless you downgrade or cancel. The MBNA True Line is permanently at $0 annual fee. To minimize long-term cost, MBNA wins. For a debt repayment plan over 1 to 2 years, CIBC remains more advantageous thanks to its lower interest rate.
Do these cards earn rewards on purchases?
No, these cards are designed for debt management, not rewards. The MBNA True Line offers a recycled-plastic card and basic discounts on car rentals. The CIBC Select Visa adds more tangible perks: up to 10¢/L in savings with Journie Rewards (gas), optional travel and balance insurance, and enhanced car rental discounts (up to 25%). Neither card earns points or cash back on purchases; pair them with a rewards card for your everyday spending.