Let’s Compare: BRIM Financial Mastercard Vs. MBNA True Line Mastercard
BRIM Financial Mastercard Vs. MBNA True Line Mastercard. this blog will help you understand which one you should go for.
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The Canadian Fintech company BRIM offers the BRIM Mastercard financial. It is a non-bank issuer of credit cards founded in 2015 by Rashta Katabi.
MBNA credit card comes from the issuing division of the famous TD Bank. It offers zero fees MBNA True Line Mastercard, which is often considered the best in the no-fee credit card category.
Let us explore both these credit cards and compare them.
1. BRIM Financial Mastercard
The BRIM Financial Mastercard is a unique credit card issued by a non-banking BRIM financial. It attracts zero annual fees and foreign transaction fees. It offers several interactive services, such as Global Wi-Fi, Spend monitoring, budgeting, etc.
Welcome Offer
You can earn up to $200 in first-time bonuses.
Let us evaluate this credit card and make you aware of its various conditions and features.
1. Eligibility
| Eligibility Requirements | |
| 1. | You must be a resident of Canada. |
| 2. | There is no minimum income requirement. |
| 3. | e a major to get this credit card in your name. This age of majority may vary from province to province. |
| 4. | Must have a fair to good credit score, preferably more than 660. |
2. Annual Fee
- This credit card has a yearly fee of $0.
- You can even get additional members and family cards at no additional cost.
3. Interest Rates
| Nature of Balance | Interest Rate |
| Purchases | 19.99% |
| Cash advances | 24.99% |
4. Earn Rate
This credit card allows you to earn points. As a part of Brim Rewards Base Earn – You can get 1 point for every $1 spent. BRIM rewards offer uncapped and unlimited.
5. Exclusive Benefit
What makes this credit card distinct are the exclusive benefits that it offers. You can enjoy the following benefits:
- Installment pays
- Free global Wi-Fi
- Interactive budgeting tool and spend monitoring
You also get a few insurance coverages. These are:
| Insurance Coverage | Maximum Coverage Limit |
| Common Carrier Accident Insurance | $100,000 per insured or $300,000 per accident |
| Mobile Device Insurance | $500 for loss, theft, and damage |
| Event Ticket Protector Insurance | $1,000 |
| Extended Warranty | Your warranty gets doubled, up to a maximum of 1 additional year $25,000 per cardholder |
| Purchase Security Insurance | Applicable only in the first 90 days (about 3 months) $1,000 per occurrence |
The MBNA True Line Mastercard is a low-rate, zero-fees credit card issued by MBNA – the credit card issuing arm of TD Bank. You can consider it a safe credit card with around-the-clock fraud protection and zero liability.
Welcome Offer
For all the balance transfers completed within the first 90 days of the issuance, you can get a 0% annual interest rate. The promotional interest rate is applicable only for the first 12 months.
Let us evaluate this credit card and make you aware of its various conditions and features.
1. Eligibility
| Eligibility Requirements | |
| 1. | You must be a resident of Canada. |
| 2. | There is no minimum income condition. |
| 3. | Be a major to get this credit card in your name. This age of majority may vary from province to province. |
| 4. | Must have a credit score between “660 and 724”. |
2. Annual Fee
- This credit card has no yearly fee.
- You can even add up to 9 additional cardholders at no extra cost. The yearly fee for supplementary cards is $0.
3. Interest Rates
| Nature of Balance | Interest Rate |
| Purchases | 12.99% |
| Balance Transfer and Access Cheques | 12.99% |
| Cash advances | 24.99% |
4. Earn Rate
This credit card has zero annual fees, with competitive interest rates on purchases and balance transfers. Thus, it does not offer any cash back or reward points.
5. Exclusive Benefit
As a part of additional benefits – You can save a minimum of 10% on Avis Rent a Car and Budget Rent A Car.
Comparative Analysis
Let us compare some common conditions and features.
| Parameters | BRIM Financial Mastercard | MBNA True Line Mastercard |
| Credit Score Required | 660+ | 660+ |
| Income Condition | NIL | NIL |
| Annual Fee | $0 | $0 |
| Interest Rate: Purchases Cash Advances Balance Transfer | 19.99% 24.99% N/A | 12.99% 24.99% 12.99% |
Opinion of ExpertbyArea.Money
BRIM Financial is quite a new Fintech company. It has tried its best to disrupt the credit card slot by offering interactive benefits, such as global Wi-Fi, spend monitoring, etc. is not offered by traditional credit cards.
It also offers reward points and insurance coverages, which makes BRIM Financial Mastercard attractive.
If you usually carry balances and are simply looking for a credit card with low-interest rates, then MBNA True Line Mastercard can work the best for you.
Evaluate your requirements and perform an analysis. Choose the card that better serves your needs.
