Payment Information

New Balance is the total amount owing on your credit card as of the statement closing date, including any MBNA Payment Plan balances.

The Minimum Payment is the amount you need to pay by Minimum Payment Due Date.

To keep your account in good standing:

  • For customers without an active MBNA Payment Plan, you must pay your Minimum Payment that is due.
  • For customers with an active MBNA Payment Plan, you must pay your Required Payment (which is your Minimum Payment less any Monthly Plan Payment Amounts due by the Minimum Payment Due Date).

Interest Free Grace Period

This section appears only if you have an active MBNA Payment Plan, and explains how much you need to pay by Your Minimum Payment Due Date to avoid any Interest on new Purchases made during the Statement Period that have not been put into a Payment Plan. This is shown as the "Grace Period Payment Amount".

If you do not have an active MBNA Payment Plan, in order to have an interest free grace period on new purchases made during the Statement Period of your monthly statement, you must pay your New Balance in full by your Minimum Payment Due Date.

Estimated Time to Pay

This indicates how long it would take to pay off your current outstanding balance in full, if you only make the Minimum Payment shown on each Statement. If you would like to see the assumptions used to calculate this amount, please see the MBNA Account Agreement (and MBNA Payment Plan Amending Agreement if you have any Payment Plans).

Summary of Your Account

This section provides a summary of your account activity in this Statement Period, explains how your New Balance is calculated, and provides other important information about your account.

Previous Statement Balance is the amount shown as owing on your previous Statement.

Payments is the amount you paid toward your account during the Statement Period.

New Purchases are any purchases made since your last statement. Any new Payment Plans set up within the Statement Period would be included here.

Balance Transfer and Access Cheques, Cash Advances, Interest, and Fees are the total new charges associated with each respective category during the Statement Period.

Your New Balance is the outstanding balance owing on the credit card account as of your Statement Closing Date. It is calculated as follows: Previous Statement Balance minus your Payments plus any New Purchases, Balance Transfers & Access Cheques, Cash Advances, Interest and Fees

Credit Limit is the total amount that can be charged to your MBNA credit card.

Cash Advance Limit is the maximum advance of credit that you can obtain by way of cash advance from your MBNA credit card. The cash advance limit is not additional credit beyond your credit limit.

Credit Available & Cash Advance Available show the remaining amounts available for use in each of those categories as of the Statement Closing Date.

Statement Closing Date is the last date included in the Statement Period of your monthly statement.

Days in Statement Period is the total number of days included in the Statement Period of your monthly statement.

Annual Interest Rates shows the interest rates in effect for your account that will be charged for any unpaid balances of Purchases, Balance Transfers and Access Cheques, and Cash Advances.

Payment Slip

Detach this slip and mail with a cheque to MBNA, P.O. Box 4369, STN A Toronto, ON M5W 3P2.

Or make a payment through Online Banking, Telephone Banking, ATM, Pre-Authorized Payment or through most financial institutions.

Interest Information

Calculates the total interest charged for each type of transaction.

The total of these values is shown as Interest in the Summary of Your Account.

MBNA Payment Plans

This section appears on your Statement if you have an active Payment Plan during the Statement Period. It provides important information about each Payment Plan on your account.

Annual Interest Rate is the interest rate applicable to the Payment Plan.

Plan Balance is the outstanding balance on the Payment Plan as of the Statement Closing Date.

Start Date is the date the Payment Plan was created.

Projected End Date is the date the Payment Plan is set to expire.

Plan Interest Charges is the interest charged to your account for the Payment Plan during the Statement Period.

Monthly Plan Payment is the amount that is due on the Payment Plan for the Statement Period. It is included in the Minimum Payment shown at the top of your monthly statement.

Details of Your Transactions

Lists each transaction made during the Statement Period, including amounts credited or charged, interest, and the dates when these amounts were posted to the account. Each category lists transactions in the order they occur.

Includes all Payments, new Purchases, Balance Transfers & Access Cheques, Cash Advances, Interest and Fees.

If you have set up an MBNA Payment Plan, you will see the following within the Purchases section of your transactions: A credit for the original purchase that was converted to an MBNA Payment Plan, and a separate transaction to show the creation of the Payment Plan.