Last year about this time I wrote about a very lucrative deal where people could get a $100 gift card to one of four well known Canadian stores and restaurants simply by signing up for one of the best no fee cash back credit cards available to Canadians. It was very popular amongst my readers and a lot of people took advantage of it including myself and my wife.
I’m happy to announce that the same deal is back again this year, only this time it’s even better! This year, RateSupermarket is offering a huge selection of $100 gift cards from over 50 stores and restaurants instead of just 4 like last year. With that many choices, there is bound to be at least one choice that will please everyone!
How You Can Get Your Free $100 Gift Card
RateSupermarket has made it as easy as possible to get your free gift card and I think the process is even simpler than last year.
1) Visit The Promotion Page
Click the link below to be taken to the RateSupermarket promotion page where you can complete the rest of the steps to get your $100 gift card.
2) Select the MBNA Smart Cash MasterCard
Click the big orange Learn More button on the left underneath the picture of the MBNA Smart Cash MasterCard. It’s the blue one.
3) Fill Out The Short Contact Details Form
Put in your name, email, and phone number so RateSupermarket can contact you once your credit card application is approved to choose which free $100 gift card you want. Check off the lone checkbox on the page and then click the big orange Apply Now button.
4) Apply For The Credit Card
Next you will be sent to the application page for the credit card on MBNA’s secure site. The URL will begin with https://www.applyonlinenow.com in case you are wondering.
5) Wait For Your Approval And Email From RateSupermarket.ca
Now that you’ve applied you will most likely be approved for the card, unless your credit score is quite low. Once that happens, you will be notified via regular mail by MBNA and you will receive your new credit card. At this point you can expect an email to come from RateSupermarket with a code to redeem for your $100 gift card.
Need More Information Before Giving This A Try?
I understand that applying for a credit card can make some people nervous. Not everyone had a father who taught them to responsibly use credit cards when they were still a teenager like mine did to me. Here's some more information for those of you who might be on the fence.
Why This Credit Card Is Worth It Even Without The Free $100
There are two cards being offered through this deal, but the MBNA Smart Cash credit card is by far the superiour choice in my opinion. We’ve been using the Smart Cash card in my house since 2009 and I signed up for it solely based on its features because there was absolutely no sign up bonus at the time.
It’s one of the best no fee cash back cards out there because it gives you 5% cash back on gas and groceries during the first 6 months you have it and then 2% cash back on gas and groceries after that. The 5% and 2% cash back have monthly spending caps of $400, so if you spend more than $400 a month on gas and groceries, your reward will drop down to 1% for all purchases above and beyond that.
All purchases other than gas and groceries get 1% cash back with no spending cap for the World edition of the card and a $1250 monthly spending cap for the regular edition of the card. The edition of the card you receive will depend on your annual income and your amount of spending on the card. If you spend enough money you will be given an offer to upgrade to the World edition in the mail. If you’re a big spender and you’re married, it also makes sense to get one card for each of you and then split your spending between the cards to maximize your rewards.
The best part is that after you accumulate $50 worth of rewards (5000 points), MBNA will automatically send you a cheque in the mail for $50 which you can deposit into your bank account, it’s that easy. I’ve lost count of how many $50 cheques I’ve received, but it’s a LOT! In addition the card comes with a whole whack of free insurance coverage and other perks like extended warranty and price protection.
How Does It Compare To Other No Fee Cards?
To give you an idea of how another popular no-fee Canadian credit card stacks up against the Smart Cash, let’s consider the extremely popular President’s Choice Financial MasterCard.
The President’s Choice Financial MasterCard lets you earn points towards free groceries, but it only gives you a flat 1% of your spending in rewards at specific grocery stores – that’s it. When MBNA gives you significantly more rewards per dollar spent and pays you in CASH that can be used anywhere, including any grocery store, it’s clear to see which is the better card.
The insurance and perks are nowhere near as good either, but for some reason people still love the PCF MasterCard so much that you couldn’t pry it out of their hands! Hopefully this offer will help me pry it out!!
Are You A Regular Debit Card User?
I recently talked about why many Canadians should consider using a credit card for all of their purchases instead of a debit card in my Stop Using Your Debit Card Canada article. If you’re a regular debit card or cash user, you should definitely check it out because credit is the safer and more lucrative way to pay.
This offer is the perfect opportunity for those people thinking of giving credit a try because you’ll make $100 right away just for trying it out and if you’re unhappy for any reason, you can always cancel the card later and go back to your old system and keep the $100.
Never Heard of MBNA or RateSupermarket?
Some people may have never heard of MBNA or RateSupermarket, which may be of some concern. Let me quickly ease those concerns.
MBNA is owned by TD Bank – there that should do it, everybody knows that name.
RateSupermarket is a great online company that allows you to compare interest rates for all kinds of financial products across tons of different companies to help you get the best deal on mortgages, bank accounts, insurance, and credit cards.
I’ve spoken with their CEO on the phone and met several of their employees in person and the Canadian Personal Finance Bloggers conference this year and they are really a great group of individuals that are doing a great job of educating Canadians and helping them save money. Last year, we got both of our $100 Toys R’ Us gift cards from them without any issues.
I wish earning an extra $100 was always that easy, don’t you? Leave a comment if you have any further questions.
Link again: Get Your $100 Free Gift Card!