Effective today one of the best Cash Back credit cards in Canada will get downgraded. The MBNA Smart Cash MasterCard, which offered up to 5% cash back on gas and grocery purchases for the first 6 months and up to 3% after that will has had that latter amount lowered to 2%. So new cardholders will still reap big bonuses for the first half a year but then after that the return will be 33% lower than people have enjoyed the past couple of years. That being said, the card retains a better level of return in those two spend categories than most other cash back cards with the Scotia Momentum Infinite and the ATB Platinum Cash being the only cards offering a higher percentage. To see how this card compares to other cards in Canada see our Cash Back Credit Card Comparison chart.
Visit the MBNA Smart Cash MasterCard for more details on this card or to apply for it