Review: Amazon.ca Rewards Mastercard

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Finding the best credit cards for grocery or restaurant purchases is relatively straightforward, but many retailers, such as Walmart and Amazon, don’t fall into those straightforward boxes as a result of how their transactions code with financial institutions.

Keeping that in mind, the MBNA Amazon.ca Rewards Mastercard offers an interesting value proposition in offering increased cash back on everyone’s favorite retailer, Amazon, in conjunction with charging no annual fee.

Let’s dive into our review of the MBNA Amazon Rewards Mastercard to see if this card has a place in your wallet.

MBNA Amazon.ca Rewards Mastercard Overview

If you’re an avid Amazon.ca shopper, the MBNA Amazon Rewards Mastercard might be a great card for you as it rewards all purchases made at Amazon.

The earning rates for this card are structured differently as you will earn a varying cash back percentage depending on if you have an Amazon Prime membership or not. The rates are as follows:

  • Prime Members earn:
    • 2.5% cash back on Amazon.ca purchases and at Whole Foods Market stores
    • 2.5% cash back on purchases made in a foreign currency
  • Non-Prime Members earn:
    • 1.5% cash back on Amazon.ca purchases and at Whole Foods Market stores
    • 1% cash back on purchases made in a foreign currency
  • Both Prime and Non-Prime members earn 1% cash back on all other purchases outside of the above categories

In order to apply for the MBNA Amazon.ca Rewards Mastercard, you must be a Canadian resident and have reached the age of majority in your province or territory. There is no minimum personal or household income requirement for this card.

Welcome Bonus

The Amazon Rewards Mastercard gives new cardholders the opportunity to earn 5% back on purchases at Amazon.ca, Whole Foods Market Stores, restaurants, and grocery stores for the first six months of card membership.

mbna amazon.ca rewards mastercard welcome offer

This increased earning rate is available for the first $3,000 in eligible purchases, meaning new cardholders can expect to earn an additional $150 cash back thanks to this welcome bonus.

Amazon Rewards Program

This credit card earns rewards in the form of Amazon credit that can be applied to your Amazon.ca account.

Once the cardholder accrues $20 worth of Amazon rewards, a $20 gift card will automatically be deposited to their Amazon.ca account within two billing cycles in their credit card account. From there, cardholders are easily able to apply the gift card towards their next Amazon purchase.

Amazon.ca Rewards Mastercard Benefits

This card offers purchase assurance and an extended warranty benefit to all cardholders.

The Purchase Assurance benefit covers your new purchases for 120 days against damage or theft up to $500 per claim and a maximum of $50,000 per account.

On the other hand, the Extended Warranty benefit Doubles the original manufacturer’s warranty on eligible items you purchase with your card, for up to one additional year.

The card does also cover foreign transaction fees, but not in the traditional sense. Instead of removing the 2.5% foreign transaction fee like the Scotiabank Gold American Express card, this card has an earn rate of 2.5% on all foreign currency transactions for those cardholders who are Amazon prime members. That means you will not truly earn any rewards on foreign transactions, since the rewards rate and the foreign currency transaction fee net out at zero.

The earn rate on foreign currency purchases is reduced to 1% for those who are not Prime members, meaning you are still paying a 1.5% fee on all foreign currency transactions. In short, there are better cards available for Canadians who are looking to avoid foreign currency exchange fees.

Who is the Amazon.ca Rewards Mastercard Best For?

This card is best for frequent Amazon.ca shoppers who want to earn rewards on their purchases and don’t want to pay an annual fee. The 2.5% cash back earning rate on a no-fee credit card is very strong and needless to say, it is becoming very easy to make the majority of your purchases on Amazon.

amazon.ca app on cell phone

If you’re not a Prime member, you may want to consider a different rewards card, as you’ll only earn 1.5% cash back on your Amazon.ca purchases with this card. However, most people these days are Prime members thanks to the slew of benefits such as Prime Video, etc.

Alternatives to the Amazon.ca Rewards Mastercard

While the Amazon Rewards Mastercard offers the best cash back rates for earning at Amazon, it is far from the best card on the market when we look at what it offers holistically.

Scotiabank Gold American Express Card

If the no foreign exchange fees had you interested in the MBNA Amazon Rewards Mastercard, the Scotiabank Gold American Express card might be a better fit for your wallet.

Apply Now Learn More Earn $75 in FlyerFunds upon approval.
Scotiabank Gold American Express Card

The Scotiabank Gold American Express card earns Scene+ Rewards points and gives cardholders the opportunity to earn 5x Scene+ points on grocery, restaurant, and entertainment purchases. This card charges no foreign exchange fees.

Check out our Scotiabank Gold American Express card review for more details.

BONUS
40,000 Scene+
MINSPEND
$7,500
NET VALUE
$280+
ANNUAL FEE
$120
FOREX FEES
No
EXPIRY
Jul 1, 2024

While the Amazon Rewards Mastercard has an increased reward rate for foreign currency transactions, the Scotiabank Gold American Express card erases the 2.5% fee completely and then earns rewards on top making it the far superior card.

Rogers Red World Elite Mastercard

If you are looking for a consistent cash back credit card that rewards actual cash and not gift cards, the Rogers Red World Elite Mastercard might be right up your alley.

Apply Now Learn More Earn $50 in FlyerFunds upon approval.
Rogers Red World Elite Mastercard

The Rogers Red World Elite Mastercardยฎ earns cash back and gives cardholders the opportunity to earnย 3% cash back on all purchases made in US dollars.

BONUS
$0 cash back
MINSPEND
$0
NET VALUE
$0+
ANNUAL FEE
$0
FOREX FEES
Yes
EXPIRY

This card has no annual fee and offers a universal 1.5% cash back on all purchases which means that you are rewarded at the same rate regardless of where you are making a purchase.

Learn More: The Best Cash Back Credit Cards in Canada

It also provides cardholders with 3% cash back on all purchases made in US dollars, meaning that you will earn 0.5% cash back after the 2.5% foreign exchange fee. This is a slightly better rate of return on these purchases than the MBNA Amazon.ca Rewards Mastercard.

Conclusion

The MBNA Amazon.ca Rewards Mastercard is a great option for those who frequently shop with Amazon. It offers cardholders rewards on their purchases, as well as extended warranty and purchase assurance benefits. If you’re not an Amazon Prime member, you may want to consider a different rewards card, as you’ll only earn a reduced rewards rate on your Amazon purchases and may find greater value in a different credit card.

As always, take advantage of the Frugal Flyer credit card comparison tool to ensure you are choosing the right card for your wallet.

Josh Bandura

Josh Bandura

Co-Founder at Frugal Flyer
Josh has been involved in the miles and points game since 2015 but has scaled up his knowledge and points earning potential in recent years. With a consistent attitude of "min-maxing" in many aspects of his life, Josh has transferred this mindset over to the miles and points game. Always looking for the next big opportunity, he aims to share content on a variety of topics including his travels, miles and points, and most importantly, how to get the most out of your credit cards

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1 comment on “Review: Amazon.ca Rewards Mastercard

  1. MBNA Amazon also does have World MasterCard based on income as well which ups itโ€™s value at no fee and great insurance.

    Reply