Save Big on Interest in Canada with MBNA True Line Gold at 8.99%
Slash interest payments with the MBNA True Line Gold credit card at 8.99%, offering low-cost balance transfers and strong insurance tailored to Canadians
Quick overview of MBNA True Line Gold in Canada
The MBNA True Line Gold Mastercard is a Canadian low interest credit card built for people who want to cut interest costs. With a purchase and balance transfer rate of 8.99%, it stands out among everyday cards for those carrying a balance month to month.
For $39 a year and no minimum income requirement, the card pairs low interest with useful insurance protections, making it a practical choice in Toronto, Vancouver or small towns across Canada. Its straightforward terms appeal to Canadians focused on saving on interest rather than chasing rewards.
Key benefits that matter to Canadians
Low interest is the main draw: 8.99% on purchases and balance transfers helps reduce finance charges compared with typical 19.99% cards. A 1% balance transfer fee (minimum $7.50) still makes consolidation worthwhile for many households trying to pay down debt.
Beyond the rate, MBNA True Line Gold includes purchase protection, extended warranty and travel coverages like lost baggage and rental car insurance. Cardholders also get up to nine supplementary cards at no extra cost, plus Zero Liability on unauthorized purchases.
Costs, limitations and how it stacks up
The card does have limits: cash advances carry a higher rate, typically 24.99%, and late or missed payments can trigger penalty rates, so it is best for disciplined use. The $39 annual fee is modest but offsets some savings if you never carry a balance.
Compared to competitors, MBNA True Line Gold beats many on ongoing low interest. The Scotiabank Value Visa may offer introductory promos, and the no-fee MBNA True Line variant has a higher rate, so weigh long-term interest savings over short-term deals when choosing a low interest card in Canada.
How to apply and tips to maximize savings
Applying is straightforward via MBNA’s website; have ID, proof of address and income details ready to speed approval. Aim for a credit score around 660 or higher to improve your chances, and consider using the card for balance transfers to consolidate high-rate debt.
To maximize savings, pay more than the minimum each month and avoid cash advances. Use the card’s insurance benefits whenever possible and keep an eye on account statements for rate changes. For Canadians wanting to cut interest costs, MBNA True Line Gold at 8.99% is a strong, practical option — apply if your priority is low interest and steady savings.
