MBNA Student Credit Card

Apply online for the MBNA Studentawards WorldPoints® MasterCard®

  • Earn 1 WorldPoint for every $2 in qualifying net retail purchases
  • No maximum earnings cap on WorldPoints
  • No Annual Fee
  • Online access to your credit card account
  • Around-the-clock fraud protection
  • Unparalleled 24-hour customer service
  • Immediate cash access at 430,000 ATMs internationally
  • Apply Now!

Online student credit cards are the way to go

Where’s the best place to find student credit cards? On the Internet, of course. There’s a myriad of information there, including all kinds of reviews, ratings and comparisons of student credit card offers. And the great thing about credit card shopping on the Internet is that you can do it from anywhere in the world.

Say you live in Canada, for example, and want to go to college in the US, or even if you want to cross the ocean and go to university in the UK, you can still shop for your student credit card online. And another international advantage to student credit cards is that all the major credit card companies offer them all around the world. And that means student credit card offers from Visa, MasterCard, American Express and Discover.

The credit card companies design their student credit cards to help college students through the tough financial times. It’s a long four years, and studying takes up a lot of that time. Then the students have to work part-time to make a little money. But it usually isn’t enough, and that’s why the credit card companies have come up with all the student credit card offers they have.

Of course, they don’t do it for nothing! They still make their profits, and you still have to pay interest. But they help you out when you’re in a jam, and that means they’ve served the purpose they were designed for.

Then, as you graduate, your finances will be in order, and your education will be complete!

Why does a student need a credit card? First of all you want to build a strong credit profile. Credit cards companies tend to report often to the credit bureau and if your card is kept in good standing that will build you a top credit score. A Good credit rating is paramount and will give you that extra confidence when starting your life after college,
marriage, buying a new home, it just makes it all easier and you'll get much better rates for all types of loans.

As a student there is nothing worse that having financial worries while attending college or university. Having a credit card will give you that extra
piece of mind knowing you can cover those little extras. The book you need, or that little bit of extra gas for your vehicle. With all the stress of just getting good marks you don't need any financial stress

MBNA Studentawards WorldPoints® MasterCard®

Annual Interest Rates

 
Standard Rate

 

The following interest rates will apply on the
day your account is opened:



 

Purchases: 18.99%.

Balance transfers (including cheque cash advances): 19.99%.

Cash advances (including cash equivalents): 19.99%.

Interest-free Grace Period You will have an interest-free grace period on
new purchases of at least 21 days if you pay in full the
balance shown on your statement by the due date.



There is no interest-free grace period for balance transfers, cash advances
or cash equivalent transactions.
Minimum Payment Your minimum payment will be the sum of the
current payment due plus the past due amount subject to a minimum of
$15
. The current payment due will be the sum of:

(1) 1% of your balance (excluding any new interest
charges); plus (2) all new interest charges.
If your balance is less than $15, the minimum payment will
equal the balance.
Foreign Currency Conversion We will bill you for all transactions in
Canadian dollars. Any transaction made in a foreign currency will be
converted to Canadian dollars using the currency conversion rate established
by MasterCard that is in effect on the date that we process the transaction.
This conversion rate reflects the fee retained by MasterCard as a cost of
performing the conversion service. In addition to the conversion rate, we
will charge you a fee of 2.5% of the transaction amount
after it has been converted.
Annual Fees None

If there is an annual
fee, it will be charged on your first statement and annually thereafter on
your anniversary date.

Other Fees



 
Transaction Fees

 

 

 

 

 

 

Account Fees

 

 

 

 



To be charged on the day the transaction or event occurs:

  • Cash advance (including automated teller machine and over the counter
    advances): 1% of amount advanced (minimum fee of
    $7.50
    )
  • Balance transfer (including cheque cash advances): 1%
    of amount transferred or advanced (minimum fee of $7.50)
  • Cash equivalents: 1% of amount purchased (minimum fee
    of $7.50)
  • Wire transfer: 1% of wire purchase amount (minimum
    fee of $7.50)



 

  • Over the credit limit: $35.00 per billing cycle
  • Returned payment: $20.00 per occurrence
  • Returned cheque cash advance: $20.00 per occurrence
  • Extra copy of monthly statement or sales draft: $2.50
  • Inactive credit balance: If your account is inactive and has a credit
    balance, we will charge you annually the lesser of: (1) the credit
    balance; or (2) $25

MBNA Studentawards WorldPoints® MasterCard®

OTHER IMPORTANT INFORMATION

The information box above the application form sets out our current rates as at the date specified above the information box. At a 18.99% annual interest rate, a $100 balance would accrue a monthly interest charge of $1.62. At a 19.99% annual interest rate, a $100 balance would accrue a monthly interest charge of $1.70. For the purposes of the above illustration only, calculations in each case are based on an average daily balance of $100 and no grace period.

*BALANCE TRANSFERS TERMS

Balance transfers will be fulfilled in the order listed and are treated as balance transfers in accordance with your Account Agreement. The total value of balance transfers cannot exceed your authorized credit limit. If the value is greater, MBNA Canada Bank may send a partial payment to the named creditor. AS INDICATED IN THE INFORMATION BOX ABOVE THE APPLICATION FORM, THERE WILL BE A TRANSACTION FEE EQUAL TO 1% OF THE DOLLAR AMOUNT OF ANY BALANCE TRANSFER INITIATED WITH THIS APPLICATION. A MINIMUM FEE OF $7.50 WILL APPLY. Balance transfers (including cheque cash advances) may not be used to pay off or pay down any MBNA Canada Bank account and, at our discretion, any account established or maintained by any of our affiliates.

a By telephoning to apply for this MasterCard credit card, you acknowledge your agreement to the conditions set out on this form.

TERMS AND CONDITIONS OF OFFER

This offer is only available to residents of Canada who are at least the age of majority in the province or territory in which they reside. MBNA Canada Bank ("we" or "us") reserves the right to withdraw this offer at any time, even if accepted by you, and to decline establishing an account for you if we become aware that any information provided in this application is inaccurate or there has been an adverse change in your financial position.

You (the "Primary Applicant") hereby request that we establish an account in your name as the Primary Cardholder for the product offered, or if multiple products are offered, for the product selected, on the basis of the information provided in this application, or such other account as we may approve, and send you renewals, substitutes, or replacements periodically ("Account"). You further hereby request that, if your application for an MBNA Platinum Plus Account is not approved, then this application shall be considered as your request for an MBNA Preferred Account, if available. If we are unable to fulfill your request to establish an Account, then you expressly authorize us to use your application and contact you to discuss consumer loan products that we wish to make available to you. If your application is approved, you hereby agree to comply with and be bound by the agreement and other disclosure documents ("Account Agreement") relating to the Account, as well as our Privacy and Personal Information Protection Notice, all as may be amended from time to time, current copies of which will be sent to you upon approval. You agree that if you sign, use or accept your Account, it will mean that you have requested and received the card, Account, Account Agreement and Privacy Notice, and that you understand and agree with us to everything written there and here. If you have granted certain individuals (each, an "Authorized User") the right to use your Account, you understand that you are fully responsible for all charges (including transaction fees) on your Account related to activity by an Authorized User.

LANGUAGE PREFERENCE

§ You agree that if no language preference box is selected, you have expressly requested that any agreement and other documents and correspondence related to this application and any credit card and Account approved be drawn up in English. / Vous convenez que si aucune case de préférence de langue n’est sélectionnée, vous avez expressément demandé que toute convention et tout autre document et correspondance se rattachant à cette demande et à toute carte de crédit et Compte approuvés soient rédigés en langue anglaise.

PRIVACY TERMS

Read these PRIVACY TERMS thoroughly as they relate to important matters dealing with privacy of your Personal Information. They include your consent to collection, disclosure, use and processing of your Personal Information for the purposes identified.

You understand that to evaluate your credit application and to continue monitoring your credit status, as well as your ongoing eligibility for credit and for the other purposes noted below, MBNA Canada Bank, including our affiliates and any of our respective employees, agents and service providers will have access to Personal Information about you and any Authorized Users and any other individual whose Personal Information you provide to us. "Personal Information" is any information relating to an individual which allows that individual to be identified.

The Personal Information we collect from time to time may include:
information to identify you such as name, date of birth, contact information, government issued documentation details (for example, a driver’s licence), and your background (for example, occupation, salary);
information for the provision of products and services (for example, language and other preferences, and information on a loyalty or reward program attached to your product); and information relating to transactions arising from your relationship with or through us (depending on the product or service, this may include purchase details and details about how you make payments to us or use our products to make payments to others).

If you provided your Social Insurance Number, MBNA Canada Bank will only use it to match credit reporting agency information and for security verification and Account maintenance purposes.

We collect information from various sources, including from you directly through applications, correspondence or other communications, through the products and services you use, from others with your consent set out below (such as credit reporting agencies and other lenders) and other permitted sources.

We review and analyze information in various ways. For example, when we monitor transactions we use proprietary techniques to help identify transactions that may be of risk from a credit, fraud or money laundering and terrorist financing perspective. This involves our understanding you and your ordinary use of our products and services in order to identify unusual activity or to detect suspicious patterns or connections.
MBNA Canada Bank collects, discloses, uses and processes Personal Information to:

(a) open, monitor, maintain, service, process, analyze, audit and collect any account you may have with us, including disclosing or exchanging Personal Information with credit reporting agencies, to develop our relationship with you, and to offer financial products and services, including evaluating the needs, wants and satisfaction levels of our customers and analyzing and managing our business;

(b) administer services, monitor your purchases, transactions, Account balances, fees, payment history, parties to transactions, payments, credit card usage and evaluate your credit eligibility, for the purposes set out in this notice;

(c) verify your identity or that of any Authorized User and maintain security measures aimed at protecting you from identity theft, fraud, money laundering and terrorist financing and unauthorized access to your Account;

(d) meet legal, security, processing and regulatory requirements, including Canadian federal and provincial requirements and foreign requirements applicable to us or any of our affiliates or service providers; and/or for any purpose required by law and law enforcement;

(e) if your Account is issued and serviced by MBNA Canada Bank on behalf of an endorsing financial institution, such as your local bank or credit union, to share all Personal Information collected by MBNA Canada Bank with such financial institution including its agents and/or brokers;

(f) promote and market products and services offered by MBNA Canada Bank, or by carefully selected companies, which are directly related to the Account (such as balance transfers and alternative payment methods), including by means of direct marketing through ordinary mail, e-mail, telephone and/or other available communication channels (for example, wireless device, land line telephone, fax machine or a data terminal) at the coordinates you have provided us; we may also send you special offers with your statements or in separate mailings that include personal cheques to access your Account; and

(g) promote and market products and services offered by selected companies (also known as secondary marketing), such as, but not limited to long distance or cellular telephone service, credit insurance, and card registry services including by means of direct marketing through ordinary mail, e-mail, telephone and/or other available communication channels (for example, wireless device, land line telephone, fax machine or a data terminal) at the coordinates you have provided us.
In addition, Authorized Users may view, obtain or be provided with information about your Account, including transactions, through online banking, through interactive voice response units, or through communications with MBNA Canada Bank, including discussions initiated by MBNA Canada Bank in respect of possible unauthorized Account activity or for other reasons. Personal Information held by or on behalf of MBNA Canada Bank by or through our affiliates, agents and/or service providers may be located in the United States or other countries outside of Canada and will be subject to the same levels of security as those described in our Privacy and Personal Information Protection Notice, while also being subject to the laws of the jurisdiction in the country in which the information is held. See below for how to obtain a copy of this Notice.

Consent to the use of Personal Information

You consent to our collection, disclosure, use and processing of Personal Information about you for the purposes described above. You consent to receive telemarketing communications from us, our affiliates and any of our respective agents and service providers at the numbers provided on and in connection with your application and all other numbers that may be provided by you to us from time to time, notwithstanding the registration of any such numbers on the National Do Not Call List. You authorize third parties to give us Personal Information about you for these purposes. If you provide us with Personal Information about any other individual (including any Authorized User), you confirm that the individual (i) has consented to our collection, disclosure, use, and processing of that information for these purposes as reasonably required (provided that all these purposes will apply to Authorized Users), and (ii) authorizes third parties to give us the Personal Information about that individual for those purposes. If you provide an e-mail address, we may also send customer service and collection notices. We may use Personal Information in our records for as long as it is needed for the purposes described above even after our relationship with you has ended.
Your choices: You may ask to be suppressed from offers under paragraphs (f) and (g) above at any time after your Account has been opened by calling MBNA Canada Bank at 1.866.845.0980 or in writing to our Privacy Officer at the address indicated below. We cannot accept suppression requests via email; customer must call or notify us in writing. Suppression request instructions are accepted from the Primary Customer only. All suppression requests shall be valid for a period of 3 years and 31 days from the date they are received. You will receive no offers under paragraphs (f) and (g) for the first 30 days after the opening of your Account to provide you with the opportunity to make your privacy choice known to us. You understand that if you withdraw consent at any time to the evaluation of your credit application, to the monitoring of your credit status or your ongoing eligibility for credit, MBNA Canada Bank may no longer be able to maintain your Account. MBNA Canada Bank will process your request within five (5) business days but you understand that it may take 90 days for full effect for marketing by means of ordinary mail and 31 days for full effect for marketing by means of telecommunication as marketing campaigns may already be in process. This will not limit information we may provide to you in statements or when you contact us.

Your right to access your Personal Information: To request access to your Personal Information in our possession, subject to any legal restrictions, or make corrections to it, you may write to us at: MBNA Canada Bank, Privacy Office, P.O. Box 9660, Station T, Ottawa, ON, K1G 6M9.
Our privacy policies: To obtain more information about our policies and procedures in protecting your privacy, visit our website at http://www.mbna.ca/privacy.html or call us at 1.800.404.1319 to request a then current copy of our "Privacy and Personal Information Protection Notice".

Disclosures, terms and conditions and other information accurate as of date shown and is subject to change. For current information, please call 1.877.428.6060, Monday - Friday 9 a.m. - 9 p.m., Saturday 9 a.m. - 6 p.m. (Eastern Standard Time).
MBNA Canada Bank is the exclusive issuer and administrator of the MBNA Platinum Plus credit card program in Canada. MBNA, MBNA Canada Bank, MBNA Platinum Plus, CreditWise and the MBNA logo are all trademarks of FIA Card Services, National Association, used by MBNA Canada Bank pursuant to licence.

MasterCard, MasterPurchase and MasterRental are registered trademarks of MasterCard International, Incorporated, used pursuant to licence.

© 2009 MBNA Canada Bank. The above information is correct as of December 2009; all information subject to change.

‡ These are highlights of the MBNA WorldPoints Program as it pertains to this credit card. Complete terms and conditions describing eligibility of the program, MBNA WorldPoints accrual, redemption of MBNA WorldPoints, and other important conditions, limitations and restrictions will be sent with your card. Some restrictions apply. Please read the terms and conditions carefully upon receipt.

Read more about Canadian Student Credit Cards