Many HfP readers have an MBNA credit card, primarily the (not available to the general public) Horizon card:
For the benefit of new readers, MBNA used to dominate the ‘air miles’ credit card market in the UK. At its peak, it issued cards for:
- bmi British Midland (many versions!)
- Emirates (x 2 versions)
- Virgin Atlantic (x 2 versions)
With the introduction of the cap on interchange fees, MBNA decided to withdraw from the affinity market and put itself up for sale, eventually being purchased by Lloyds Bank.
Most people who held one of these cards were offered something called the Horizon card. This is, frankly, an amazingly good piece of plastic:
- It’s a Visa card
- which gives 0.5% cashback
- and which has no foreign exchange fees
You don’t earn any points, but for non-UK spending it is a great product.
MBNA is now introducing Amex-style cashback rewards
All cardholders will see potential ‘Smart Rewards’ offers as long as they are registered for online card servicing.
As with Amex, you need to manually opt in to each offer that you think may interest you.
Cashback will be added to your card balance once per month. You will be able to see ‘pending’ payments online so you will know that an offer has successfully triggered.
The companies shown as typical of the partners who will be involved are:
- LNER trains
- Costa Coffee
If you’d like shopping to be a little more rewarding, MBNA Smart Rewards could be the perfect fit:
- Browse available offers and pick out the ones which suit you best.
- Keep track of the cashback you’ve earned in the Smart Rewards hub.
- Coming to Online Card Services soon, and launching on our app in early 2021.
It’s the cherry on top of that ice cream sundae… an extra banana in the bunch. Up to 15% cashback on the things you buy regularly soon adds up, but you might also be inspired to try something new.
At present, we don’t know any more. It is good to see Lloyds Bank extending this scheme, which is already available via some of its other brands, to MBNA.
The key point at present is that, if you were thinking of cancelling a legacy MBNA credit card for any reason, you may want to hold on.
Want to earn more points from credit cards? – October 2021 update
If you are looking to apply for a new credit or charge card, here are our October 2021 recommendations based on the current sign-up bonus.
The following offers will end soon:
- 10,000 Avios on British Airways American Express (ends 2nd November)
- 40,000 Avios on British Airways American Express Premium Plus (ends 2nd November)
- 60,000 points on The Platinum Card from American Express (ends 2nd November)
- 30,000 points on American Express Preferred Rewards Gold (ends 9th November)
Here are the top current deals:
British Airways American Express
10,000 Avios for signing up, no annual fee and an Economy 241 voucher for spending ….. Read our full review
British Airways American Express Premium Plus
40,000 Avios and the UK’s most valuable credit card perk – the 2-4-1 companion voucher Read our full review
American Express Preferred Rewards Gold
Your best beginner’s card – 30,000 points, FREE for a year & two airport lounge passes Read our full review
The Platinum Card from American Express
60,000 points and an unbeatable set of travel benefits – for a fee Read our full review
Earning miles and points from small business cards
If you are a sole trader or run a small company, you may also want to check out these offers.
American Express Business Gold
20,000 points sign-up bonus and free for a year Read our full review
American Express Business Platinum
40,000 points sign-up bonus and a long list of travel benefits Read our full review
British Airways Accelerating Business American Express
60,000 Avios sign-up bonus – plus annual bonuses of up to 30,000 Avios Read our full review
Capital On Tap Business Rewards Visa
The most generous Avios Visa or Mastercard for a limited company Read our full review
For a non-American Express option, we also recommend the Barclaycard Select Cashback card for sole traders and small businesses. It is FREE and you receive 1% cashback on your spending: