MBNA True Line Mastercard vs BMO Preferred Rate Mastercard
Two cards, one Standard Score rubric. The MBNA True Line Mastercard scores higher overall at 3.5/10, but the right pick depends on which components match your spending.
The verdict
PassTwo different theories of debt relief: BMO's own card copy admits its ongoing rate "is beaten by both MBNA cards." BMO's Preferred Rate leads with an 18-month 0% balance-transfer window (2% fee), the longest runway in Canada, but its 13.99% ongoing rate and $29 fee return once that window closes and the first-year waiver expires; MBNA's True Line pairs a shorter 12-month 0% transfer window (3% fee) with a permanently fixed 12.99% at $0 forever. Anyone digging out of an existing balance right now should transfer it to BMO for the longer runway and lower transfer fee; anyone who wants a simple standing low rate with no fee to track should just take the True Line.
See offer · current MBNA True Line Mastercard offer, direct from the issuer
Rewards math assumes you pay your balance in full every month — interest charges quickly exceed any rewards value.
| MBNA True Line Mastercard | BMO Preferred Rate Mastercard | |
|---|---|---|
| Standard Score | 3.5/10 · Pass | 3.2/10 · Pass |
| Annual fee | None | $29 (Waived first year (current offer)) |
| Welcome bonus | 0% interest on balance transfers for 12 months (3% transfer fee, transfers within 90 days of opening) | 0% interest on balance transfers for 18 months (3% transfer fee), the longest 0% window in Canada right now, plus first-year fee waived |
| Est. bonus value | ≈ $0 | ≈ $0 |
| First-year net value | ≈ $0 | ≈ $0 |
| Earn rates |
|
|
| Points currency | None (no rewards) | None (no rewards) |
| No FX fees | No | No |
| Lounge access | No | No |
Where the MBNA True Line Mastercard wins
- Ongoing value: scores 3.5/10 on this component
- Low friction: scores 8.0/10 on this component
- Strategic fit: scores 5.5/10 on this component
Where the BMO Preferred Rate Mastercard wins
No component wins: its rival scores at least as well on every Standard Score component.
Read the full reviews: MBNA True Line Mastercard and BMO Preferred Rate Mastercard, or see how both rank in Best Low Interest Credit Cards in Canada.