When it comes to finding the best Mastercard in Canada, especially for those focused on low interest rates and balance transfer opportunities, the MBNA True Line Mastercard often comes out on top. If you’re someone trying to build or rebuild credit, pay off debt with lower interest, or simply want a no-frills card with real value — this one is worth a closer look.
As someone who has personally used MBNA credit cards for years, I wanted to share my honest experience with the MBNA True Line Mastercard, how it helped me manage my finances, and why it might be the best Mastercard in Canada right now for many people.
✅ What is the MBNA True Line Mastercard?
The MBNA True Line Mastercard is a no annual fee credit card that stands out in Canada due to its low interest rate of just 12.99% on purchases — one of the lowest fixed rates offered on a no-fee credit card.
But what really makes this card a standout is its balance transfer offer.
🔁 Balance Transfer Intro Offer:
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0% interest for 12 months
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1% transfer fee
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No annual fee
This means you can consolidate high-interest credit card debt and pay it off interest-free for a year — a move that can help significantly improve your financial situation if used wisely.
💡 My Experience with MBNA
I’ve used MBNA cards for years, including their Amazon Rewards Mastercard (which I also use at Costco), and more recently the MBNA True Line. What really struck me was how easy it was to get approved — even when my credit wasn’t perfect.
In fact, many people in online forums and review sites confirm the same. MBNA, which is actually a division of TD Bank, is known for being more flexible with approvals, especially for people looking to build or rebuild their credit.
When I got the MBNA True Line Mastercard, I was offered a generous $8,000 limit. I took advantage of the balance transfer promotion by moving funds to my chequing account and then directly into my mortgage. That gave me a full year to pay off the balance without interest — which is a much better deal than most personal loans or lines of credit.
🧾 How to Use the Balance Transfer Smartly
Here’s how I made the most out of it:
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Transferred the full $8,000 limit to my chequing account.
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Used that money to pay down a portion of my mortgage.
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Paid only minimum payments each month during the 0% period.
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Paid off the remaining balance in full before the promo ended.
This helped:
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Improve my credit utilization ratio
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Avoid high interest payments
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Increase my available credit
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Boost my credit score over time
💳 Who Should Consider the MBNA True Line Mastercard?
This card is ideal for:
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People with existing credit card debt looking for a break from interest
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Those who want to build credit with a reputable issuer
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Anyone who needs a no-fee, low-interest backup card
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Students, new grads, or even immigrants starting out in Canada
Even if you’re unemployed or have spotty credit, approval is still possible — but note: I personally wasn’t unemployed when I applied, so I can’t speak to those exact approval odds.
⚠️ Things to Watch Out For
While the MBNA True Line is a strong option, it’s not perfect:
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No rewards or cash back on this version (look at MBNA Rewards or Amazon Mastercard for that)
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Some users, including myself, noted that the chip can be finicky — possibly due to the card being slightly thinner than average
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You need to pay off the balance in full before the promo ends, or you’ll face standard 12.99% interest charges (still low, but not 0%)
🏆 Final Verdict: Is the MBNA True Line the Best Canadian Mastercard?
If you’re looking for one of the best balance transfer credit cards in Canada with no annual fee and a low ongoing interest rate, the MBNA True Line Mastercard should be at the top of your list.
It’s backed by a trusted Canadian bank (TD), offers smart tools for debt repayment, and provides a generous intro offer that’s hard to beat — especially if you’re strategic about how you use it.
Whether you’re paying off debt, building credit, or just need a no-fuss backup card, MBNA delivers real value.
TL;DR:
✅ MBNA True Line Mastercard
– 0% on balance transfers for 12 months
– 1% transfer fee
– No annual fee
– Low ongoing interest at 12.99%
– Easy approval (even with average credit)
– Owned by TD, so it’s legit
