True Line® Mastercard® Credit Card

Balance Transfer Intro Rate
Balance Transfer Intro Rate Duration
6 Months
Purchase Interest Rate
Annual Fee
Recommended Credit Score
740 850 670 739 580 669 0 579
You could get a 0% promotional annual interest rate (“AIR”)† for 6 months on balance transfers✪ completed within 90 days of account opening, with a fee of 1% of the amount advanced (minimum fee of $7.50). Limited time offer, apply online by October 31, 2018. Standard Annual Interest Rates of 12.99% on eligible purchases, 12.99% on balance transfers✪ and access cheques, and 24.99% on cash advances.

The True Line Mastercard from MBNA is aptly named, rescuing cardholders with an effective combination of a low balance transfer rate, low purchase rate, and no annual fee. Even after the promotional balance transfer interest rate ends, it only increases to about half of what any standard card charges, offering an opportunity for those who need to escape interest on existing, but also ongoing balances. For cardholders that have a hefty outstanding balance—or many of them—the chance to dramatically reduce their interest payments is a true saving grace.

Balance Transfer Promotion

The promotional balance transfer rate from the True Line Mastercard is the most competitive in Canada, charging 0% interest for 6 months (only available to those that apply by October 31, 2018). This rate applies to all balances that are transferred over during the first 90 days after the account is opened.

As with all balance transfer credit cards, the transfer interest rate does jump up after the promotion period ends, though not as significantly as it does for most cards. Instead of 20% or higher, the rate on balance transfers is increased to 12.99%, which matches the card’s interest rate on purchases. This means that if a cardholder can’t pay off their entire balance in 6 months, they won’t be penalized as harshly as they would otherwise. They’re also free to use the card on everyday purchases without undue worry.

Other Notable Features

  • $0 annual fee
  • 12.99% rate on purchases and access cheques
  • 24/7 customer support
  • Constant fraud defense

The absence of any annual fee is a perk that runs parallel with the low interest rate benefits, in that it works to actively reduce the money coming out of a cardholder’s pocket.

The competitive 12.99% interest rate on purchases is forgiving for those who may carry balances from month to month. It also combines well with the default interest rate of 12.99% on balance transfers, because new transfers, remaining old transfers, purchases, and access cheques all accrue interest at the same rate.

MBNA links True Line cards to its fraud protection service, which keeps an eye out for suspicious activity and actively works to halt fraud in its tracks.

MBNA True Line® Cards Rates

CardPurchase RateCash Advance RateBalance Transfer Rate
True Line® Mastercard®12.99%24.99%12.99%
True Line® Gold Mastercard®8.99%24.99%8.99%

Who’s the Card For?

The True Line Mastercard is ideal for those without a high income or credit score, and who need relief from older and ongoing debts. People with multiple credit cards, loans, or lines of credit can utilize the card’s balance transfer feature to escape compounding interest and then continue to use the card for their daily purchase needs without the same massive interest penalty as with other cards.

With no annual fee, those on the hunt for a good balance transfer deal will be drawn to the card, but should consider paying the $39 yearly fee for MBNA’s upper-tier card in this category: the True Line Gold Mastercard. In exchange for this fee, the Gold card charges less interest, which may end up saving you more than $39 depending on your balance size.

Over a 12-month period, a $10,000 transfer to the no-fee True Line Mastercard generates about $649.5 in interest: $0 during its first 6 months (0% balance transfer promotion) and about $649.5 for the remainder of the year (12.99% on balance transfers).

The same example using MBNA’s True Line Gold card would generate only about $449.5 in interest payments over a year: $0 during its first 6 months (0% balance transfer promotion) and $449.5 for the remainder of the year (8.99% on balance transfers). That’s a savings of $200—substantially more than the card’s $39 annual fee.


Legal Footnotes:
† Promotional Rates: Balance Transfers: 0%
This Promotional Rate applies to any balance transfers made within 90 days of your account opening (each, an “eligible transaction”) and will remain in effect for 6 Statement Periods from the transaction date of each eligible transaction. The Promotional Rate will increase and the remaining balance of the eligible transaction will become subject to the Standard Rate for balance transfers either: (1) on the first day of the first Statement Period that occurs after the expiry of the Promotional Rate; or (2) on the first day of the second Statement Period following any late Minimum Payment.
Standard Rates: Purchases: 12.99%
Balance transfers and access cheques: 12.99%
Cash advances: 24.99%
Default Rates:
If your Minimum Payment is late twice within any [12] consecutive Statement Periods (the “change event”), the Standard Rate(s) that apply to your account at that time will increase to the following new Standard Rate(s):
Purchases: 19.99%
Balance transfers and access cheques: 21.99%
Cash advances: 24.99%
The new Standard Rate(s) will apply on the first day of the second Statement Period following the change event.
If you then pay each Minimum Payment on time for [12] consecutive Statement Periods (“cure period”), the new Standard Rate(s) will decrease to the Standard Rate(s) that applied on your account at the time of the change event. Such rates will apply on the first day of the first Statement Period that occurs after the cure period.
✪ Balance transfers will be fulfilled in the order listed and are treated as balance transfers in accordance with your Account Agreement. The total value of balance transfers cannot exceed your authorized credit limit. If the value is greater, MBNA may send a partial payment to the named creditor/designated account. THERE WILL BE A TRANSACTION FEE EQUAL TO 1.00% OF THE DOLLAR AMOUNT OF EACH BALANCE TRANSFER INITIATED WITH THIS APPLICATION. A MINIMUM FEE OF $7.50 WILL APPLY TO EACH BALANCE TRANSFER TRANSACTION. A balance transfer may not be used to pay off or down your account balance or any other balances with us (including our affiliates, which would include any member of the TD Bank Group). The Toronto-Dominion Bank is the issuer of this credit card. MBNA is a division of The Toronto-Dominion Bank.

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