Effective August 31, 2021, there are several changes to the MBNA Rewards program on how you can redeem points.
Redeeming points for cash back
Currently, as a MBNA Rewards World Elite® Mastercard® holder, you can redeem your points for cash back in increments of 100 points for $1. So 10,000 points = $100.
This will change as of August 31, 2021. You will then be able to redeem your points for cash back in increments of 120 points for $1. Thus, 12,000 points = $100.
So to get the minimum $50 cash back, you’ll need 6,000 points instead of the current 5,000.
That’s a 20% devaluation effective August 31, 2021 for the cash back option.
For MBNA Rewards Platinum Plus® Mastercard® cardholders, you can redeem your points for cash back in increments of 200 points for $1. So 10,000 points = $50.
Redeeming points for travel or gift cards
The option to redeem MBNA Rewards points for travel remains unchanged: 100 points for $1. This means 10,000 points = $100.
The same applies to items and gift cards. Some gift cards such as Walmart are regularly offered at a rate of 100 points for $1.