To the point
Here's our detailed comparison of MBNA TrueLine Mastercard and CIBC Select Visa.
Welcome bonus - Balance Transfer
Both credit cards offer a welcome bonus.
When you subscribe to the MBNA True Line® Mastercard® (Outside Quebec), you get balance transfers for :
- 0% interest on balance transfers for 12 months
- 3% transfer fee
With the CIBC Select Visa* Card, you will receive balance transfers for :
- 0% interest for 10 months
- 1% transfer fee
Advantage: CIBC Select Visa* Card
Both cards offer a 0% interest rate.
However, the CIBC Select Visa* Card has a transfer rate of 1%, which is lower than its competitor’s 3%.
Exclusive Benefits and Savings
Thanks to certain partners, credit cards offer more points or useful discounts for everyday purchases.
The MBNA True Line® Mastercard® (outside Quebec ) is very simple.
- Get up to 9 additional cards at no annual fee
- Around-the-clock fraud protection
- Card made entirely of recycled plastic
- Minimum 5% discount on Review and Budget car rentals
The CIBC Select Visa* Card has the same Visa Infinite advantages as its competitor.
- Up to 3 additional cards at no annual fee
- Personalized convenience cheques
- Link your card to Journie Rewards to save up to 10 cents per liter on gas at Ultramar, Pioneer, Fas Gas and Chevron.
- Up to 25% off Avis and Budget car rentals
Advantage: CIBC Select Visa* Card
For its general benefits, the CIBC Select Visa* Card wins this round.
Standard Balance Transfer Interest Rates
Apart from the promotional 0% interest rate, the MBNA True Line® Mastercard® credit card (Non Quebec Residents) and CIBC Select Visa* Card offer standard interest rates.
The standard interest rate for MBNA True Line® Mastercard® credit card (Non Quebec Residents) is 17.99%.
The CIBC Select Visa* Card’s standard interest rate is 13.99%.
Advantage: CIBC Select Visa* Card
The CIBC Select Visa* Card ‘s standard interest rate is the better of the two cards, since it’s lower.
Annual Fees
Let’s see which card is the least expensive.
The MBNA True Line® Mastercard® credit card (Non Quebec Residents) has an annual fee of $0. Easy to remember!
The CIBC Select Visa* Card has an annual fee of $29.
However, this card often has a reimbursement promotion to cover the fee. At present, the fee is fully reimbursed for 2 years.
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With an annual fee of $0 at all times, it’s an obvious choice.
Insurance
Both credit cards offer some insurances… or not!
The MBNA True Line® Mastercard® credit card (Non Quebec Residents) has no insurance coverage.
| Travel medical insurance | None |
| Insurance – Public transportation | None |
| Other insurances | None |
The CIBC Select Visa* Card offers something similar for insurance. View the insurance summary here:
| Travel medical insurance | Optional at extra cost |
| Insurance – Public transportation | 100 000 $ |
| CIBC Payment Protector InsuranceTM | Available at additional cost |
Advantage: CIBC Select Visa* Card
For a card with little or no annual fee, it’s difficult for a financial institution to offer comprehensive insurance.
Even so, the CIBC Select Visa* Card is slightly superior. At an additional cost, it is possible to have certain coverages, and it offers coverage in the event of a problem on public transport abroad.
Minimum Income
The MBNA True Line® Mastercard® (outside Quebec) requires :
- a minimum individual income of $0
To obtain a CIBC Select Visa* Card, you must meet the following easy criteria:
- a minimum individual income of $0
Advantage : Draw
It’s easy to reach the minimum income required for both cards!
Bottom Line
So? Which Card is the winner?
The CIBC Select Visa* Card has a slight edge thanks to :
- 0% interest rate welcome offer and lowest transfer fee of 1%.
- Save up to 10 cents per liter on gas with the Journie Rewards program
- Lowest standard interest rate
- Its ability to add insurance coverage
While the MBNA True Line® Mastercard® (Outside Quebec) offers amenities such as:
- 0% interest for 2 more months
- $ 0 annual fee all the time
