The MBNA Shoppers Optimum Card

The MBNA Shoppers Optimum Card - A Review - By: CreditCardsCA


The right credit card rewards program brings you a tangible advantage. The challenge is to find the right one.

It is not a simple matter to announce "This is the best rewards card." It must be said that there are some good indicators of an overall value of a rewards card.

A robust rewards program allows you to take advantage of such features as special promotions, and to sometimes even get free merchandise or cash back. These are just a few common types of rewards. But not all rewards programs are the same. How to tell the robust from the lame? Some rewards programs allow you to build points faster than others, focusing on rewarding you for things that you buy regularly.

But not every circumstance is the same. Not every card is suited to every circumstance. For instance if you fly a lot - I mean really a lot - a frequent flyer card might be your best option. Sometimes cash is better, other times points are. Who cares about interest rates if you pay down your balance every month. But beware high rates if you carry a balance from month to month. The rewards might be less than you planned, maybe even less than zero.

The MBNA Shoppers Optimum Credit Card

One card that passed the test of being robust, and should appeal to most people in Canada, is the [spin/]MBNA Shoppers Optimum MasterCard|Shoppers Optimum credit card|Shoppers Optimum MasterCard|Shoppers Drugmart Mastercard|Shoppers Optimum Mastercard|Shoppers Drugmart credit card|MBNA Shoppers Optimum credit card[/spin]. The reason it can appeal to most people, is that the rewards points are applicable to things that every person, regardless of lifestyle needs.
The Shoppers Drugmart credit card is designed specifically to reward account holders for making purchases at Shoppers Drug Mart.

There are more than 1,000 Shoppers Drug Mart locations throughout Canada, so most people can benefit, and you can use this MasterCard at any other store that accepts MasterCard. The only people who would not be able to truly leverage this card are people in remote communities where there is not a Shoppers Drugmart store. Cash-back lovers will obviously prefer a different card, too.

What the Shoppers Optimum MasterCard Offers

Here is what the card offers:

• 15,000 bonus points when you make your first purchase. That’s enough for $25 of in store credit at Shoppers Drug Mart.
• Around the clock fraud protection.
• Up to $1,000,000 travel accident insurance coverage.
• Up to 25 points for every dollar spent at Shoppers Drug Mart, and five points for every dollar spent elsewhere.
• Purchase protection for 90 days, covering theft of, and damage to, your merchandise.
• 1.99% introductory rate on balance transfers and cash advances for the first six months, with a reasonable 19.99% interest rate afterward.

The card also allows the option for you to access cash using any of the 430,000 ATMs around the world that are part of an approved network. The 19.99% regular interest rate on the Shoppers Optimum credit card is a reasonable rate for many rewards cards in Canada. As long as you pay off your credit card balance each month, you won’t have to worry too much about the APR that comes with the card. The Shoppers Optimum card also has an additional perk: Shoppers Drug Mart often runs special promotions that allow you to earn even more bonus points on selected items.

Balance Transfers with Shoppers Optimum

The Shoppers Optimum card also offers another attractive benefit: the low introductory rate. This introductory rate is 1.99% on cheque cash advances, as well as balance transfers, for six months. If you have high interest credit card debt on other accounts, you can transfer it to the MBNA Shoppers Optimum card and pay a low1.99% for six months. This can be a great help for those with a debt reduction plan.

It is best to pay off the balance transfer as much as possible during the introductory period. It is also important to realize that your introductory can be ended if you miss a payment, pay late, or go beyond your credit limit.

The Review in Brief

The MBNA Shoppers Optimum MasterCard offers one of the best credit card rewards programs for people who shop at a certain store. Most Canadians can benefit, and if rewards points are your preference, this card will appeal to a fairly wide spectrum of people.

For those who shop a great deal at Shoppers Drug Mart, this credit card should be near the top of the list when choosing a credit card, since you can get credit card rewards quickly by making purchase that you are already making.