Last fall, MBNA closed off applications to its pair of Alaska Airlines co-branded credit cards.
In June 2023, it was revealed that as of September 1, 2023, MBNA’s Alaska Airlines co-branded cards would cease to exist entirely, and cardholders would instead be transitioned to the MBNA Rewards World Elite Mastercard and the MBNA Rewards Platinum Plus Mastercard.
In a letter sent out to legacy Alaska Airlines co-branded cardholders, MBNA released details of transition offers that award a welcome bonus upon meeting a minimum spending requirement.
MBNA’s Transition Offers for Legacy Alaska Airlines Cardholders
As of September 1, 2023, both the MBNA Alaska Airlines World Elite Mastercard and the MBNA Alaska Airlines Platinum Plus Mastercard will officially be discontinued.
At that point, legacy cardholders will automatically be transitioned to the MBNA Rewards World Elite Mastercard and the MBNA Rewards Platinum Plus Mastercard, respectively.
A letter sent out to legacy cardholders has revealed that MBNA is offering a welcome bonus as part of the transition to the new cards.
Legacy cardholders of the MBNA Alaska Airlines World Elite Mastercard can earn 20,000 MBNA Rewards points upon spending $2,000 (CAD) between September 1 and November 30, 2023.
For context, the current welcome offer on the MBNA Rewards World Elite Mastercard is for up to 30,000 MBNA Rewards points, structured as follows:
- Earn 20,000 MBNA Rewards points upon spending $2,000 in the first three months
- Earn 10,000 MBNA Rewards points for opting into electronic statements
1x 5x MBNA Rewards points† on groceries, restaurants, digital media, memberships, and utilities
Legacy cardholders of the MBNA Alaska Airlines Platinum Plus Mastercard can earn 5,000 MBNA Rewards points upon spending $500 (CAD) between September 1 and November 30, 2023.
For context, the current welcome offer on the MBNA Rewards Platinum Plus Mastercard is as follows:
- Earn 5,000 MBNA Rewards points upon spending $500 (CAD) in the first three months
- Earn 5,000 MBNA Rewards points for opting into electronic statements
It’s worth noting that the welcome bonuses for new cardholders are superior to those available through the transition offer, especially since it only requires opting in for electronic statements.
Coming Soon: Transfer MBNA Rewards to Alaska Airlines Mileage Plan
When MBNA announced that it would discontinue the co-branded Alaska Airlines credit cards entirely, it also hinted that it wasn’t the end of the relationship between it and Alaska Airlines.
Currently, MBNA Rewards points can be redeemed at a value of 1 cent per point against travel purchases. It’s also possible to redeem them for gift cards, merchandise, and cash back.
At some point in the next year, MBNA Rewards is expected to become Canada’s newest transferable points currency, as MBNA has teased that MBNA Rewards points will be transferable to Alaska miles at a 1:1 ratio.
The exact details about this change have yet to be released, and we don’t yet know the date from which it’ll be possible to transfer MBNA Rewards into Alaska miles.
Once the change occurs, the MBNA Rewards World Elite Mastercard will strengthen its position in the ranks of Canada’s 5x rewards cards, since it earns 5 MBNA Rewards points per dollar spent on restaurants, groceries, digital media, membership, and utility purchases.
Since Alaska Airlines Mileage Plan will become a transfer partner of MBNA Rewards, you’ll essentially have the ability to earn 5 Alaska miles per dollar spent on the aforementioned categories, which is outstanding.
Despite some recent devaluations and a move towards dynamic pricing, Alaska Airlines Mileage Plan still offers some compelling redemption sweet spots.
Furthermore, without any other meaningful ways to access Alaska Airlines Mileage Plan in Canada, MBNA Rewards is set to burst onto the Canadian loyalty scene in earnest.
Conclusion
MBNA has sent out transition offers to legacy cardholders of the MBNA Alaska Airlines World Elite Mastercard and the MBNA Alaska Airlines Platinum Plus Mastercard, who will be transitioned to the MBNA Rewards World Elite Mastercard and the MBNA Rewards Platinum Plus Mastercard, respectively.
By completing a minimum spending requirement in the first three months after the transition, legacy cardholders can earn 20,000 or 5,000 MBNA Rewards points, respectively.
While September 1, 2023 will officially mark the end of an Alaska Airlines co-branded credit card in Canada, at some point in the next year, MBNA Rewards will be transferable to Alaska Airlines Mileage Plan at a 1:1 ratio.
Further details about the changes to MBNA Rewards are expected in the near future.
Has anyone heard any updates on this program? It’s been 6 months since they changed over my card but there is still no word on actually converting my MBNA points to Alaska.
I phoned MBNA and CSR said it can’t transfer to AS. I said you have this in writting and that’s the reason I allowed to keep this card when you had the change from AS to MBNA rewards. Then she transfered me to travel department, same story, no able to transfer to AS and they said they can’t do anything. WTF!
Hi James, the ability to transfer between MBNA and Alaska has not been implemented yet. Stay tuned to the website, as we will post something as soon as there is news to report.
I just got off the phone with Paul, a supervisor from MBNA. He said that things were still in the works, but he had no idea of timelines. They haven’t heard anything about caps on points transfer of the program being pulled – but he also wasn’t aware that MBNA hasn’t communicated anything with their customers regarding this delay. The person I spoke to before talking to a supervisor told me it should be up and running mid-year – like maybe June. But Paul said it could be next week and it could be 6 months from now. No idea. But it’s been 8 months since I got my letter from MBNA saying they were going to change the program. You’d think they would have it more together than this. All very disappointing.
Hi, I wouldnt call it disappointing, the fact that they even allow such conversion is a great news. And let’s not forget that this card has 5x points capability. I’m thankful for them to even think of making conversion a thing.
Because there is no news yet. You can bet that if the conversion does come true, the whole community will be talking about it. So for now, nobody knows anything yet
Just having been sent an update from Mbna I do believe this card will be better at redeeming Alaska Miles than the previous Alaska Mbna. Being able to get more Mbna points per dollar amount and then transferring to the Alaska Mileage Plan at 1:1 this is a Win Win deal. It not a matter of if but when!
Still no word on really any partnership with AA. If there was an existing relationship, it would have been marketed right at the bat. I dont want to spend $120 for the “possibility” of AA being added. Their existing catalog is current devoid of ANY travel airline relationship loyalty program. I’ll cancel now and maybe rejoin at another time. Dont promise to pay me Tuesday for a hamburger today.
The biggest benefit of this card was the companion voucher. Although it’s nice to have the 1:1 transfer rate, I question if the card is worth it without the the companion flight.
Best feature of Cobalt is gift cards at Grocery store – does anybody know if that works with this card? Would it be reasonable to expect bigger sign up bonuses with a September roll-out?
Would this make the MBNA World Elite a strong competitor to the Amex Cobalt card?! Hmm… similar points on food, but also digital media and utilities. And, it’s a MC so more widely accepted. Seems like it might be but wondering what the airline proposition is with Alaska partners. Thoughts?
would it be prudent to sign up for the MBNA Rewards card now and cancel the alaska card in order to get the welcome bonus?
Big if true
I also received the letter from MBNA and will be transitioning to the WE card. Looking forward to max out the accelerators and transferring to the Alaska Mileage program. This one is a win.
Any idea if the companion vouchers will vanish from our accounts come Sept 1?
It looks like any issued in 2023 will be valid through to their regular expiration date.
I received a letter from MBNA about the card terminating 8/31 yesterday, but nothing about being transitioned to another MBNA card.