MBNA Smart Rewards – the new credit card cashback scheme – is now live

Back in November, we tipped you off about the upcoming launch of MBNA Smart Rewards.

This is MBNA’s attempt to compete with Amex’s market-leading cashback offers. It is now active.

Many HfP readers have an MBNA credit card because at one point it issued 13 different airline cards.

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.

When those cards closed, most cardholders were offered a market-leading card called Horizon with no foreign exchange fees and 0.5% cashback. I think most people who got offered it decided to keep it, because it is a decent option for overseas spend.

How does ‘Smart Rewards’ work?

At present, MBNA Smart Rewards is only available via the website. It is apparently coming to the app soon. This is good news because, as the app is OK, I hadn’t used the website for well over a year until I was researching this piece yesterday.

There is more information here on their website and a FAQ here.

When you log in to the website, you will see a reference to ‘Smart Rewards’. Click on that and you will be asked if you want to activate it or not.

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.

I have seven offers showing at the moment:

• Paul – 10% back
• Huel – 10% back
• Trespass – 10% back
• Byron – 5% back
• Europcar – 5% back
• Land’s End – 15% back
• Fortnum & Mason – 5% back

One obvious problem is that, as the screenshot shows, it is not immediately clear that you need to opt in. You need to click the little ‘down’ arrow for the registration box to show. I can imagine a lot of people not realising that registration is required.

This clearly isn’t a life-changing selection but, given the current lockdown, it would be unfair to judge how it will develop.

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Want to earn more points from credit cards? – April 2025 update

If you are looking to apply for a new credit card, here are our top recommendations based on the current sign-up bonuses.

In 2022, Barclaycard launched two exciting new Barclaycard Avios Mastercard cards with a bonus of up to 25,000 Avios. You can apply here.

You qualify for the bonus on these cards even if you have a British Airways American Express card:

Barclaycard Avios Plus Mastercard

Get 25,000 Avios for signing up and an upgrade voucher at £10,000 Read our full review

Barclaycard Avios Mastercard

Get 5,000 Avios for signing up and an upgrade voucher at £20,000 Read our full review

You can see our full directory of all UK cards which earn airline or hotel points here. Here are the best of the other deals currently available.

SPECIAL OFFER: Until 27th May 2025, the sign-up bonus on the ‘free for a year’ American Express Preferred Rewards Gold card is increased from 20,000 Membership Rewards points to 30,000 points. Points convert 1:1 into Avios (30,000 Avios!) and many other programmes. Some people may see even higher personalised offers. Click here to apply.

SPECIAL OFFER: Until 27th May 2025, the sign-up bonus on American Express Platinum is increased from 50,000 Membership Rewards points to a huge 80,000 points. Points convert 1:1 into Avios (80,000 Avios!) and many other programmes. Some people may see even higher personalised offers. Click here to apply.

American Express Preferred Rewards Gold

Your best beginner’s card – 30,000 points, FREE for a year & four airport lounge passes Read our full review

British Airways American Express Premium Plus

30,000 Avios and the famous annual 2-4-1 voucher Read our full review

The Platinum Card from American Express

80,000 bonus points and great travel benefits – for a large fee Read our full review

Virgin Atlantic Reward+ Mastercard

18,000 bonus points and 1.5 points for every £1 you spend 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 Platinum

50,000 points when you sign-up and an annual £200 Amex Travel credit Read our full review

American Express Business Gold

20,000 points sign-up bonus and FREE for a year Read our full review

Capital on Tap Pro Visa

10,500 points (=10,500 Avios) plus good benefits Read our full review

Capital on Tap Visa

NO annual fee, NO FX fees and points worth 1 Avios per £1 Read our full review

British Airways American Express Accelerating Business

30,000 Avios sign-up bonus – plus annual bonuses of up to 30,000 Avios Read our full review