The Platinum Plus MasterCard® - Rate for Life, issued by MBNA Canada, is available to Canadian residents and provides cardholders with fixed interest rates and common platinum cardholder services.
There is no annual fee for this credit card program and cardholders will benefit from the low introductory AIR on balance transfers that extends until the balance is paid off. The offer is available only on balances transferred within the first three months of opening an account. Some applicants may even qualify for credit limits upwards of $100,000. The average interest rate (AIR) is fixed for purchases, balance transfers, and cash advances. There is no annual fee.
While this card does not offer a rewards program, cardholders can take advantage of the platinum benefits that come with the card, including emergency card replacement, 24-hour customer service, online account access, and access to thousands of ABMs worldwide.
Also, those who do not qualify for the platinum card may be considered for the preferred card, which varies in terms of benefits and credit limits.
Review Date: October 31, 2008
Note: The review on this card was updated on October 31, 2008. The review is believed to be accurate during the update, however, information posted may have changed since the update. We strongly suggest that you carefully read the Terms and Conditions statement that accompanies the credit card application.
Intro Rate (Intro APR):
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3.99% AIR For the Life of the Balance |
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Intro Applied Towards:
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Purchases, Balance Transfers, Cash Advances |
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Additional Intro Details:
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The introductory rate applies all transactions made within the first 90 days of opening an account. |
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Purchase APR:
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17.99% (Fixed) |
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Cash APR:
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19.99% (Fixed) |
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Finance Configuration:
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n/a |
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Annual Fee:
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$0 |
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Grace Period:
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21 Days |
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Over the Limit Fee:
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$35 |
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Cash Advance Fee:
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Greater of $7.50 or 1% |
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Balance Transfer Fee:
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1% |
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Most Attractive Feature(s):
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| Low introductory rate; no annual fee |
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Least Attractive Feature(s):
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| No rewards program |
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Additional Features:
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Various Internet account related services.
Emergency card replacement.
See website for additional benefits. |
*After 1 year of inactivity with a credit balance, the fee will be the lesser of $5 or the credit balance; after 2 years the fee will be the lesser of $15 or the credit balance; after 5 years the fee will be the lesser of $25 or the credit balance; and after 9 years the fee will be the lesser of $30 or the credit balance.
See website for complete terms and conditions of card usage and application disclosure.
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