MBNA True Line Gold Mastercard Credit Card Review [Updated 2019]

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With some of the lowest interest rates and fees available on any credit card in Canada, the Mastercard True Line Gold is ideal for consolidating debt and improving your credit score.

In Canada, the standard interest rate charged on credit card purchases is 19.99%. But with the Mastercard True Line Gold credit card, the annual percentage rate (APR) charged on purchases is less than half that amount. And it’s not an introductory interest rate.

The extremely low interest rate is set and good for the entire time you own the Mastercard True Line Gold card. Throw in low fees on top of the low interest rate and this credit card is hard to beat when it comes to being economical.


  • Low standard interest rate of 8.99% on purchases and balance transfers
  • Introductory interest rate of 0% on balance transfers for six months
  • Low annual fee of $39


  • No rewards program such as cash back or travel redemptions
  • Interest on cash advances is 24.99%
  • There are fees charged on foreign transactions and cash advances


There’s no rewards program attached to the Mastercard True Line Gold card. But that doesn’t mean there isn’t an introductory bonus offer provided with this credit card. Cardholders are eligible to receive an introductory APR of 0% for six months on balance transfers that are completed within 90 days of opening an account.

You can’t do better than no interest. And this introductory offer on balance transfers makes it even more worthwhile for cardholders to transfer debt from other credit cards and loans and consolidate them onto the Mastercard True Line Gold card.



While there is an annual fee on this credit card, it’s low compared to other Canadian credit cards. With the Mastercard True Line Gold card you’ll pay an annual fee of $39.

That’s not nothing, but it’s a lot less than the $100 to $150 annual fee that’s typically applied to credit cards issued in Canada. Additional fees charged with this particular credit card include a transaction fee on foreign currency purchases equal to 2.5% of the transaction amount after it has been converted to Canadian dollars, and 1% of the value of any and all cash advances taken off the card.

You’ll also face a $20 fee for any returned payments and a $25 fee for going over your credit limit on the card. These additional fees are standard with most credit cards.


The APR, or interest, charged is truly the highlight of the Mastercard True Line Gold credit card.

In addition to the introductory 0% APR charged on balance transfers for six months, you get standard APR of 8.99% on all eligible purchases made with the card, and 8.99% on all balance transfers after the introductory six-month period expires. These are incredibly low interest rates and you’ll be hard pressed to find better rates with another credit card, most of which charge standard APR of 19.99% on purchase and balance transfers.

If there is a downside to the interest rates on the Mastercard True Line Gold credit card it’s that you’ll pay 24.99% APR on cash advances taken out with the card.

Also, if your minimum payment is late twice within any 12 consecutive statement periods, the interest you’re charged will increase to 19.99% on purchases and 21.99% on balance transfers. So, to take advantage of what this card has to offer, avoid cash advances and be sure to make payments on time.


To acquire the Mastercard True Line Gold card, you must be a Canadian resident and have a Canadian credit file.

You also need to be the age of majority in your province or territory of residence – which is typically 18 years old, and you have to ensure that you have no record of bankruptcy and do not currently have any significant past due payments on other loans and bank accounts.


The Mastercard True Line Gold credit card comes with only a modest amount of added features. The real selling point with this card is the low interest rates and fees.

Still, added features such as round-the-clock customer service and fraud protection should provide peace of mind to cardholders.


People looking for rewards programs that offer cash back, travel and merchandise will not likely be interested in the Mastercard True Line Gold credit card.

This card is for people who prefer economy over prizes and who want to take advantage of low fees and interest to consolidate debt in one place and ultimately improve their credit score.


The Scotiabank Value Visa credit card is worth comparing to the Mastercard True Line Gold card. This is because the Scotiabank Value Visa is also focused on debt consolidation. And, as with the Mastercard True Line Gold card, the Scotiabank Value Visa offers low APR.

It starts with an introductory interest rate of 0.99% on balance transfers for the first six months, as well as a standard APR of 12.99% on purchases. While low, the APR provided on the Scotiabank Value Visa is not quite as low as that provided with the Mastercard True Line Gold card.

The one exception is with cash advances, where the interest charged on the Value Visa is offers the promotional 0.99% rate for the first 6 months for those transactions. Also, the annual fee on the Scotiabank card is slightly lower at $29 per year versus $39 on the Mastercard True Line Gold credit card.


The Mastercard True Line Gold offers some of the lowest interest rates available with a credit card in Canada. The low APR combined with a modest annual fee of just $39 make this a fantastic option for people who want to save money, consolidate debt and improve their credit rating.

It’s an ideal credit card for anyone who is thrifty and wants to take control of their finances.

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