MBNA True Line Mastercard Review 2025: Why It’s The Best Balance Transfer Credit Card In Canada

• No annual fee
• Standard Annual Interest Rates of 12.99% on eligible purchases, 17.99% on balance transfers✪, and 24.99% on cash advances
• You could get a 0% promotional annual interest rate (“AIR”)† for 12 months on balance transfers✪ completed within 90 days of account opening, with a 3% transfer fee.
• This card is made from 100% recycled plastic
• Around-the-clock fraud protection
• Use available credit on your credit card to transfer funds right to your chequing account
• This offer is not available to residents of Quebec
• †, ✪, Terms and Conditions apply.

The MBNA True Line Mastercard is the go-to Canadians looking to make a balance transfer. Their 0% rate for balance transfers applies for a 12 month period and is currently the best offer on the market. And while 12 months is a very generous time frame, if you are unable to pay off the total balance in the promotional period, you will still benefit from the card’s low regular interest rate of 17.99%. This would apply to both your balance transfer amount and your regular purchases. For context, that’s about half of what most Canadian credit cards charge for purchase interest.

In addition to the great balance transfer offer and low interest rate, this card has no annual fee—definite perk in a situation where you are trying to save money and pay off debt.

The downside of this credit card is that there are no real rewards. It’s also lacking in benefits, with the only perk being car rental discounts at participating Avis and Budget car rental locations. However, at the end of the day, the goal of a balance transfer credit card is to pay off your debt, not to gain cash back, points or perks—and the MBNA True Line Mastercard allows you to do just that.

• New cardholders can take advantage of a 0% balance transfer rate for 12 months when they complete a balance transfer within the first 90 days.
• The regular interest rate is 12.99% (about half of what most credit cards charge).
• No annual fee.

As a balance transfer credit card, the MBNA True Line Mastercard has a special welcome offer for new clients. New cardholders who transfer a balance from another credit card within the first 90 days will be eligible for a promotional offer of 0% annual interest rate for the first 12 months, with a 3% transfer fee. At this time, this 12-month 0% promotion is the best balance transfer offer on the market in Canada. (Other offers have either a shorter time period, a slightly higher interest rate, or both.) Currently, this offer is not available for residents of Quebec.

It’s important to note that the 0% balance transfer rate only applies to the amount that was transferred. Any new purchases on the card, even during the balance transfer period, will be subject to the regular (albeit still low) interest rate of 12.99% purchase apr.

Once this welcome period is over, the interest on the balance transfer amount remaining will increase to the card’s regular rate of 17.99%. Still, this does qualify as a low rate, as most Canadian credit cards offer rates around 20%.

• No annual fee
• Promotional balance transfer offer of 0% interest for 12 months when completed within 90 days of opening (3% balance transfer fee)
• Low interest rate of 12.99% interest on purchases and 17.99% on balance transfers (24.99% on cash advances)
• Fraud protection
• Apple Pay compatible
• Ability to transfer available credit to your chequing account
• Installment payment plan available for eligible purchases over $100 in 6, 12 or 18 month terms
• Add up to 9 authorized users with no additional fee
• Save up to 10% at Avis and Budget car rentals in Canada and the USA and up to 5% internationally
• Mastercard Zero Liability protects you from unauthorized purchases (some conditions apply)

Interest Rates

• Regular APR (Purchases): 12.99%
• Regular APR (Cash Advances): 24.99%

Fees

• Foreign Transaction Fee: 2.50%
• Annual Fee: $0
• Any other fees: Balance transfer transaction fee equal to 3% of the dollar amount being transferred ($7.50 minimum)

MBNA True Line Mastercard vs. MBNA True Line Gold Mastercard

The MBNA True Line Gold Mastercard boasts the same balance transfer offer as the MBNA True Line Mastercard. The big difference between these cards is that the MBNA True Line Gold Mastercard has an annual fee of $39 and a lower purchase interest rate of 10.99%. That’s a 2% difference, which can add up very quickly—especially on a remaining balance once the balance transfer promo period is over. However, the goal with a balance transfer is to pay it off as soon as possible. So, if you think you will be able to pay off your amount within the 12-month period, you may as well save yourself the $39 fee and go with the MBNA True Line Mastercard. If that’s not feasible, go with the MBNA True Line Gold Mastercard and its lower interest rate.

MBNA True Line Mastercard vs. CIBC Select Visa* Card

The CIBC Select Visa* Card is another balance transfer credit card with low interest. Its offer is comparable to the MBNA True Line’s: this card has 0% interest on balance transfers for the first 10 months with a 1% transfer fee† and a low regular purchase interest rate of 13.99%. There is a $29 annual fee to take note of, but it is rebated for the first two years. Since the MBNA True Line Mastercard has no fee at all, 0% interest on balance transfers for a longer period and a regular purchase interest rate of 17.99%, it’s a stronger pick. That said, the CIBC Select Visa only requires a “fair” credit score rather than the “good/excellent” one required to qualify for an MBNA True Line Mastercard. So, if your credit score is lower, the CIBC Select Visa Card may be more attainable—with a balance transfer offer nearly on par with the MBNA True Line.

MBNA True Line Mastercard vs. Tangerine Money-Back Credit Card

The Tangerine Money-Back Credit Card isn’t specifically designed for balance transfers—it’s actually a no-annual-fee cash back card—but it currently has a promotion where new cardholders will get a 1.95% introductory interest rate on balance transfers for the first six months with a 1% transfer fee. However, the purchase interest rate on this card is standard, at 19.95%. If you are looking for a balance transfer card specifically, you are best to stick with the MBNA True Line Mastercard since its offer is longer and has 0% interest, and its purchase APR is lower. Once you have paid off your credit card debt, you might find the Tangerine Money-Back Credit Card pretty appealing—it has no annual fee and earns 2% cash back in two categories of your choice and a third category if you deposit your cash back into your Tangerine Savings Account. Essentially, when it comes to balance transfers, the MBNA True Line Mastercard wins, but for everyday purchases, the Tangerine Money-Back Credit Card is the clear winner since it earns cash back on your everyday spending.

When determining a rating for individual credit cards, the Forbes Advisor Canada editorial team factors in an exhaustive list of data points. With balance transfer cards, the scoring model used takes into account factors such as, but not limited to, balance transfer periods and categories, fees, welcome bonuses, and other benefits and features. Keep in mind, what may be best for some people might not be right for you. Conduct informed research before deciding which cards will best help you achieve your financial goals.

If you are looking for a true balance transfer credit card, then the MBNA True Line Mastercard is a solid choice. The 0% balance transfer rate for 12 months is the most generous currently on offer in Canada and allows you the best opportunity to pay off your credit card debt without having to worry about the cost of additional interest. The fact that there is no annual fee also allows you to save even more money.

Ideally, you won’t be adding even more debt to your load, but, should an unavoidable purchase be made, the low rate of 12.99% also makes a big difference compared to most other credit cards with purchase interest rates around 20% or higher.

While the lack of rewards and benefits can be disappointing, keep in mind that the goal of this card is to help you pay off your debt. Once you have done that you can look for rewards credit cards that offer you more perks and benefits.

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