MBNA Smart Cash Platinum Plus Mastercard Review

Quick overview of the MBNA Smart Cash Platinum Plus Mastercard

Looking to earn a little extra on everyday essentials? The MBNA Smart Cash Platinum Plus Mastercard offers a generous cash-back rate on gas and grocery purchases for an initial period, before switching to a lower ongoing rate. You’ll also earn a base rate on all other purchases. With the rising cost of necessities, getting rewarded for these expenses is a nice bonus. Plus, there’s no annual fee, so your savings stay in your pocket.

One downside is the high interest rates on purchases and cash advances. The spending limit on higher cash-back earnings could also be a drawback if you tend to spend more in these categories.

Important Notice: Effective from the first day of your statement period beginning September 2025 and reflected on your October 2025 statement: Standard Annual Interest Rates of 21.99% on eligible purchases, 22.99% on balance transfers✪, and 22.99% on cash advances

✅ Who is the MBNA Smart Cash Platinum Plus card for?

The MBNA Smart Cash Platinum Plus Mastercard might be for you if you spend a lot on gas and groceries, since you’ll earn cash back on those expenses. Earn 5% Cash Back†† on eligible gas and grocery purchases for the first 6 months (until the total gas and grocery purchases in the applicable month reaches $500). and 2% back on gas and groceries, it’ll suit your everyday shopping needs. Another benefit is that it has no yearly fee, a rarity for cash back rewards cards. However, if your spending stretches beyond gas and groceries, or if you tend to carry a balance, you may want to consider another card.

How the MBNA Smart Cash Platinum Plus Mastercard compares

MBNA Smart Cash Platinum Mastercard vs. MBNA Smart Cash World Mastercard

If you're considering a cash-back credit card, the MBNA Smart Cash Platinum Mastercard and the MBNA Smart Cash World Mastercard are two popular options. The Smart Cash Platinum Mastercard, great for those with modest spending habits, has no annual fee and offers up to 2% cash back on eligible gas and grocery purchases, and 0.5% cash back on all other eligible purchases. This card is a great fit if you prefer simplicity and minimal costs – and keep your spending in check each month, since rewards maximums are capped at $500 per month.

On the other hand, the Smart Cash World Mastercard, with its $39 annual fee, is better suited to bigger spenders. It offers a welcome bonus of 5% cash back on gas and groceries for the first six months (up to $500 monthly spend), then 2% on these categories thereafter (with the same monthly cap), and 1% on all other purchases. This card is more suitable if your monthly expenses are higher, especially in the bonus categories, as the higher cash back rates can offset the annual fee. The keyword here being “can” – it might be a good idea to have a look at your monthly spending to see if the rewards would offset the card cost.

Disclosures:

MBNA Smart Cash Platinum Mastercard vs. Neo Credit Card

Comparing the MBNA Smart Cash Platinum Mastercard to the Neo Credit Card is a little more difficult since they both have different rewards structures. The MBNA card offers up to 2% cash back on gas and groceries and 0.5% on other purchases, making it a solid choice for everyday spending. It's particularly beneficial if you frequently spend on these categories and prefer a straightforward cash-back program.

The Neo Credit Card, on the other hand, offers an average of 1% cash back at thousands of partners and 1% cash back on essentials, like gas and groceries. It also offers a one-time cash back bonus of 1% the first time you shop with participating partners. This card might be more appealing if you frequently shop at Neo's partner merchants, as the potential rewards can be significantly higher. The annoying thing is that Neo doesn’t publish its list of cash back partners – you’ll need to create an account to view the most updated list. 

Disclosures:

MBNA Smart Cash Platinum Mastercard vs. Tangerine World Mastercard

If you’re considering the Tangerine World Mastercard, consider your spending habits and preferences in reward flexibility.

The Tangerine World Mastercard allows you to choose two categories (if you deposit your rewards into a Tangerine Savings account) for higher cash back rates of 2%. This card offers flexibility to tailor your rewards to your spending habits. If your major spending categories vary or are outside the typical gas and groceries, the Tangerine card might be more advantageous.

Each card has its strengths and its weaknesses; the best choice depends on your individual spending habits and how you prefer to earn your rewards.

Is the MBNA Smart Cash Platinum Plus Mastercard worth it?

The MBNA Smart Cash Platinum Mastercard is worth considering if the majority of your money is spent on gas and groceries. With no annual fee and up to 2% cash for those expenses, it's a great choice. However, this card isn’t as appealing if your spending is diverse or exceeds the $500 per month cap. Other options, like Canadian Tire's Triangle Mastercard may offer more streamlined rewards without the caps. Overall, the card's simplicity and straightforward rewards make it a solid option for those looking for uncomplicated cash back in a card that can be had for no yearly fee.

Disclosures:

•  ‡, ††, ✪, Terms and Conditions apply. 

  
  

  This offer is not available for residents of Quebec. For residents of Quebec, please click here. 

  
  

  Sponsored advertising. MBNA is a division of The Toronto-Dominion Bank (TD) and TD is not responsible for the contents of this site including any editorials or reviews that may appear on this site. For complete information on this MBNA credit card, please click on the “Apply Now” button.

  
  

  The Toronto-Dominion Bank is the issuer of this credit card. MBNA is a division of The Toronto-Dominion Bank. ®MBNA and other-trademarks are the property of The Toronto-Dominion Bank.

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