BMO Preferred Rate Mastercard vs MBNA True Line Mastercard
The short answer: for most people the MBNA True Line Mastercard is the better overall card — we rate it 4.1/5 and it shines if you want paying down debt with a low rate and a 0% balance transfer. Choose the BMO Preferred Rate Mastercard instead if your priority is anyone who carries a balance and wants to minimize interest charges rather than earn rewards..
Advertiser disclosure: we may be compensated for links on this page. Our ratings stay independent. Learn more.
| Our rating | 3.4 | 4.1 |
|---|---|---|
| Annual fee | $29/yr | No annual fee |
| Welcome bonus | $29 | None |
| Foreign transaction fee | 2.5% | 2.5% |
| Rewards type | cash back | cash back |
| Top earn rates |
|
|
| Purchase interest | 13.99% | 12.99% |
| Income required | None stated | None stated |
| Best for | Anyone who carries a balance and wants to minimize interest charges rather than earn rewards. | Paying down debt with a low rate and a 0% balance transfer |
| Apply now | Apply now |
BMO Preferred Rate Mastercard
A straightforward low-interest workhorse: the 13.99% purchase rate and 0.99% intro balance transfer can save far more in interest than any rewards card would earn back.
MBNA True Line Mastercard
Our winnerNot a rewards card — a debt-payoff tool. The low 12.99% purchase rate and 0% intro balance-transfer offer make it one of the best ways to tackle existing credit card balances.
Frequently asked questions
Is the BMO Preferred Rate Mastercard or the MBNA True Line Mastercard better?
For most Canadians, the MBNA True Line Mastercard is the better overall pick (we rate it 4.1/5 vs 3.4/5). It's especially strong if you want paying down debt with a low rate and a 0% balance transfer. The BMO Preferred Rate Mastercard can still win if you specifically want anyone who carries a balance and wants to minimize interest charges rather than earn rewards..
Which card has the lower annual fee?
The MBNA True Line Mastercard has the lower annual fee (no annual fee vs a $29 annual fee).
Do either of these cards charge foreign transaction fees?
BMO Preferred Rate Mastercard: 2.5% foreign transaction fee. MBNA True Line Mastercard: 2.5% foreign transaction fee.