TD bought MBNA back in 2011, but both institutions have remained relatively separate to a certain extend. MBNA still issues its own credit cards. Towards the end of September 2014, TD initiated a transition phase to further integrate MBNA with TD’s systems. It may only be a matter of time before MBNA completely disappears.
For the time being, it seems like they will remain separate, especially considering that its website just got a new look. You will notice a bigger difference when you click into the application form of each individual credit cards.
That being said, I am more focused on MBNA’s products. So far, we’ve seen a devaluation to the MBNA Smart Cash Platinum Plus MasterCard, namely dropping from 3% to 2% return for gas and grocery expenses. We have also seen the discontinuation of the MBNA Choice Privileges MasterCard.
The MBNA Rewards World Elite MasterCard was once one of its top credit card when its annual fee was waived. But since the fee is no longer waived, it dropped out of my Top Credit Cards in Canada list.
I am hoping to see a better showing by MBNA. I am hoping to either see some product improvements or some new products. Otherwise, MBNA is dropping down my list of preferred financial institutions in a hurry.