BMO Cashback® World Elite® Mastercard® Vs. MBNA Smart Cash Platinum Plus® Mastercard® Vs. American Express® Aeroplan® Reserve Card
BMO Cashback® World Elite® Mastercard® Vs. MBNA Smart Cash Platinum Plus® Mastercard® Vs. American Express® Aeroplan® Reserve Card. Read on to find out more.
Source: Pexels
The best credit card for you complements your spending style and offers you the highest value back on your preferred purchases. We have compiled a list of three credit cards with unique characteristics to assist you in your comparison shopping and selection.
BMO Cashback® World Elite® Mastercard®
Let us find out more about the BMO Cashback® World Elite® Mastercard® and its features.
Eligibility
Permanent Canadian resident
Annual fee
$120 annual fee.
Interest charged on Balance
The purchase interest rate on this card is 20.99%, the cash advance interest rate is 23.99%, and the balance transfer interest rate is 22.99%
Reward
Get up to 10% cash back in your first three months on expenditures, and the first year’s $120 annual fee is free.
| Eligibility | Minimum household income: $80,000 and household income: %150,000. A credit score of 760+. Permanent residency in Canada |
| Annual fees | $120 |
| Interest charged on Balance | Purchase interest rate: 20.99%. Cash advance interest rate: 23.99%. Balance transfer interest rate: 22.99%. |
| Reward | Cash back: 5% on groceries, 4% on transit, 3% on gas and electric car charging, 2% on recurring bill payments such as your monthly phone bill or streaming service, and 1% on all other purchases. BMO Cashback World Elite Travel and Medical Protection, Concierge Service |
MBNA Smart Cash Platinum Plus® Mastercard®
Read on to find out more about the offers and requirements for this card:
Eligibility
Canadian residency.
Annual fees
$0 annual fee.
Interest on balances
The purchase interest rate on this card is 19.99%, the cash advance interest rate is 24.99%, and balance transfers & access cheques are 22.99%.
Reward
For the first six months, get 5% cash back on qualified petrol and grocery purchases ($500 monthly spend cap).
After that, 2% cash back on gas and groceries, and 0.5% Cash Back on all other eligible purchases.
Presentation in tabular format.
| Eligibility | Minimum household and personal annual income of $0. Canadian citizen or permanent resident |
| Annual fees | $0 |
| Interest on Balances | Purchase interest rate: 19.99% Cash advance interest rate: 24.99% Balance transfers & access cheques: 22.99%. |
| Reward | Purchase assurance, warranties for up to one additional year on most new purchases. |
American Express® Aeroplan® Reserve Card
Eligibility
- No minimum income requirements.
Annual fees
- $599 annual fee.
Interest on balances
- On this card, the purchase interest rate is 19.99%. The cash advance interest rate is 21.99%.
Cashback and Rewards
- Aeroplan points:
- 65000: After spending $6,000 in the first six months.
- 5000: Spending $1,000 in the first six months for 30,000 Aeroplan points.
- For the first three months, get 10x points on food and beverages, up to 20,000 Aeroplan points.
- 115,000 Aeroplan points in total.
| Eligibility | No minimum income limitations. |
| Annual fees | $599. |
| Interest on balances | The purchase interest rate on this card is 19.99%. The cash advance interest rate is 21.99%. |
| Cashback/ Rewards | Referral offer: 95,000 Welcome Bonus Aeroplan®* points. 65,000 Aeroplan points: Spending $6,000 within the first 6 months of Card membership. 5,000 Aeroplan points: Spending on monthly billing period. 3X points on eligible Air Canada® and Air Canada Vacations® purchases. 2X points for qualified Dining and Food Delivery transactions in Canada. 1.25X points on everything else. |
Now, knowing these three credit cards in detail, let us do a comparative analysis of these three credit cards-
| BMO Cashback® World Elite® Mastercard® | MBNA Smart Cash Platinum Plus® Mastercard® | American Express® Aeroplan® Reserve Card | |
| Additional Benefits | 1. Highest cash back earn rate on groceries in 2. Canada Extended Warranty 3. Plus Complimentary Roadside Assistance Program 4. BMO Concierge Service 5. BMO Cashback World Elite Travel and Medical Protection | 1. Common Carrier Travel Accident Insurance 2. Auto Rental Loss/Insurance 3. Extended Warranty for 1 year 4. Purchase Protection up to 90 days. | 1. Priority boarding and check-ins 2. Complimentary visits to Air Canada Maple Leaf Lounges within North America 3. No expiration of card points 4. Emergency medical insurance 5. Flight delay insurance and trip cancellation insurance |
| Welcome Offer | 10% cash back for the first three months and a $120 yearly fee waiver for the first year. | 5% cash back on gas and groceries for the first six months. | 115,000 Welcome Bonus Aeroplan points. |
| Minimum Income Requirement | $80,000 personal and $150,000 household | $0 | No minimum income requirements |
Expertbyarea Advice-
If you are looking for a credit card that offers you plenty of travel benefits and has no minimum income requirements, then MBNA Smart Cash Platinum Plus® Mastercard® is the best choice.
The American Express® Aeroplan® Reserve Card offers plenty of benefits for traveling. If you often travel, this card offers you many benefits and coverages. The BMO Cashback® World Elite® Mastercard® offers you medical travel protection with 24*7 concierge services and exciting cashback offers.
This article shows you the comparison between the three cards mentioned. Depending on your lifestyle and requirements, you can choose to apply for a credit card accordingly
