No annual fee
Strong security features
Free additional cards
About this card
The MBNA True Line Mastercard is tailored for Canadians looking to pay down existing debt or avoid high-interest purchases. It charges just 12.99% on purchases—far below the typical 19–20% on most credit cards—making it one of Canada’s most budget-friendly credit products.
The standout feature: a 0% promotional annual interest rate (AIR) on balance transfers initiated within the first 90 days of account opening. This offer lasts 12 statement periods, subject to a 3% transfer fee (minimum $7.50).
There’s no annual fee, and you can add up to nine authorized users at no extra cost. Security is solid, including chip & PIN, contactless payments, and Mastercard Zero Liability protection.
However, the card does not earn rewards and lacks perks like travel insurance, which some competitors offer.
MBNA True Line® Mastercard®
$155.88
/ per year
American Express
Cobalt® Card
The American Express Cobalt® Card is a choice for Canadians who prioritize earning rewards on everyday spending, particularly in categories like dining, groceries, and streaming services. Its flexible Membership Rewards program and strong earn rates make it especially appealing to those who can maximize its benefits.
0% interest on balance transfers for 12 months (transfers must be completed within 90 days, 3% fee applies)
Low ongoing interest rate: 12.99% on purchases
No annual fee and free additional cards (up to 9 authorized users).
Strong security features: chip & PIN, contactless, Zero Liability.
Eco-conscious: card made of 100% recycled plastic
3% balance transfer fee (minimum $7.50).
No rewards program—no cash back, points, or miles.
No insurance benefits (e.g., travel, purchase protection).
Not available in Quebec
Customer service reviews reveal issues—several complaints about poor support, fraud handling, and account closures.
0% promotional AIR on balance transfers for 12 months, if initiated within 90 days of opening the account
3% balance transfer fee (with a $7.50 minimum)
Minimum Personal Income: Not Listed
Minimum Household Income: Not Listed
Suggested Credit Score: 660+