Review of the MBNA WorldPoints



The MBNA WorldPoints Platinum Plus Mastercard was last reviewed on 3rd July 2006



Summary - The MBNA WorldPoints Platinum Plus Mastercard is a reward credit card with a reward program that offers travel, shopping and cash back rewards. There is no annual fee, the apr is low and you can earn unlimited points. But should you get this card? Read on to find out....

Reward Formula - The MBNA WorldPoints Platinum Plus Mastercard allows you to earn one point for every dollar you spend on the card. You can earn unlimited points. 1. It has a comprehensive travel reward program (travel and shopping) which also includes a cash rebate feature. You can earn unlimited points, which are valid for 5 years.

Fees - There is no annual fee for this card. The apr is fixed at 7.90% (which is very low). Cardholders get an introductory 2.99% apr on balance transfers for 12 billing cycles.

WorldPoints Rewards - The WorldPoints rewards is an all-round reward program with travel, shopping and cash back rewards. Its travel reward is very much in line with other credit card reward programs, which require 25,000 points for a free airline ticket. The cash back reward pay up to 1% cash rebates. The gift certificate rewards falls short a little in my opinion. This is because you get less than 1% value when you exchange points for gift certificates. For example, most programs require 10,000 points for $100 in gift certificates. The Worldpoints require 13,000 points!

Verdict - While the MBNA WorldPoints is a good all-round reward program, it falls short in the area of shopping rewards and requires more points for a certain value in gift certificates than other programs. In light of this, you may want to consider the following :

For those who use their cards for grocery, gas purchases, the Citi� Diamond Preferred� Rewards Card, which allows cardholders to earn 5 points for every dollar spent at standalone supermarkets, gas stations and drugstores. This allows you to earn faster points.

The Chase Flexible Rewards Visa is also worth considering because the reward program allows you to use less points for a free airline ticket if you choose Continental Airlines. You can also transfer points to United Airlines Mileage Plus program.

Both these credit cards also have better gift certificate and shopping rewards than the WorldPoints.


Positives
  • Earn unlimited points


Negatives
  • Less than 1% reward for points exchanged for gift certificates
  • Cannot earn extra points on "everyday purchase" spending



MBNA WorldPoints Visa Credit Card
Reward Benefits
Signing Bonus 1000 bonus miles after first purchase
Point Accumulation 1 Point for every dollar you spend on purchases
Point Expiration 5 years
Caps on Points Earn unlimited Points
Other Benefits
Zero internet liability purchase
Cost/Fees/Interest rates
Introductory rate 2.9% fixed APR for 12 billing cycles (for both balance transfers and advance checks)
Annual Fee No annual fee
Purchase APR 7.90% fixed rate
Balance Transfer APR 7.90% fixed rate
Cash Advance APR 19.99%
Grace Period 25 days
Balance Calculation Method Average Daily Balance (including new purchases)
Balance Transfer Fee 3%, min $10.00, max $75.00
Advance checks fee 3%, min $10.00, max $75.00
ATM Cash Advance fee 3% min $10.00
Other Cash Advance fee 3% min $10.00
Foreign Currency Conversion fee 3%
Over-the-credit-limit fee $15 - $500 or less
$29.00 - $500.01-$1000
$39.00 - more than $1000
Late Payment fee $15.00 - $100 or less
$29.00 - $100.01-1000
$39.00 - greater than $1000




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