Not that it matters, but none of the customer service representative accurately described why the website was down. At least they were correct in that applications were still being taken.
Well that was very anti-climatic.
Had MBNA really discountined this product, there would only have been 2 cash back credit cards offered by TD, which are:
TD Gold Elite Visa Card
- $99 annual fee
- Earn 1% cash back on all purchase
TD Cash Back MasterCard Card
- No annual fee
- Earn 0.75% cash back on all purchases
As you can see, both are terrible cash back credit card, especially even compared to the MBNA Smart Cash MasterCard:
- No annual fee
- Earn 5% cash back (on the first 6 months) on gas and grocery purchases
- Earn 2% cash back (after the first 6 months) on gas and grocery purchases
- Earn 1% cash back for all other purchases
I was really hoping to see an upgrade to this MBNA credit card. But my guess is that it is still popular and profitable enough that no real changes are required. They rather spend the money on redesigning the credit card.
I can’t believe that I am going to say this, as this is a bitter-sweet moment. I am definitely annoyed that they did not improve this product. But I am glad that this credit card is still available, because the cash back market would have taken a big hit if it was discontinued. This is one of the best no annual fee cash back credit card, so it has set the current standard. If this discontinued, the standard would go down and who knows what the other credit card companies would do knowing that there is less competition.