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Shoppers MasterCard Credit Card Review

9 April 2011 by CreditCardsCo™

The Shoppers MasterCard is available to consumers with a good to excellent credit rating. The card, issued by MBNA Canada, is aimed at consumers using a credit card to make regular day to day retail purchases.

The rewards program associated with the card allows cardholders to earn generous points when shopping at Shoppers Drug Mart stores across Canada. There is also the added benefit of having no annual fee and the promotional offer of a low introductory rate on balance transfers, including cheque cash advances.

Shoppers Reward Points

The Shoppers MasterCard, issued by is an unsecured credit card aimed at those consumers who use a credit card regularly for retail purchases. It is a reward card which offers a generous number of points for every dollar spent on products and services purchased at Shoppers Drug Mart stores across Canada.

Reward points are transferred to the card account at the end of each month. When the specified redemption level is reached the points can then be exchanged for rewards from Shoppers Drug Mart including thousands of items ranging from household goods to health and beauty products. There is no limit to the number of points which can be accumulated making the card even more attractive to shoppers.

Low Introductory Interest Rate

In addition to the rewards program, the Shoppers MasterCard also has a low introductory interest rate on balance transfers, including Cheque Cash Advances, for the first few billing cycles after the account is opened. However, the rate can be increased before the promotional period ends in the event of a late payment to the account or if the designated credit limit is exceeded.

At the end of the introductory offer, the standard annual interest rate for balance transfers will be applied. Purchases carry a fairly average interest rate from the account opening. There is also a slightly higher default interest rate which is applied if there is more than one late payment within a set number of consecutive billing periods.

Additional Security Features

The Shoppers card also boasts some impressive security features. It offers free around the clock fraud protection, twenty four hour a day customer service, and free online access to the account. Online access allows customers to keep a close eye on their account for any unauthorized transactions.

The credit card also has enhanced security and protection with the latest in Chip & Pin technology and PayPass. Chip & PIN cards require that a secret PIN, or Personal Identification Number, be entered at the time of transaction as an added security measure. The PayPass feature is exclusive to MasterCard and allows purchases to be made by tapping the PayPass icon at the cash register instead of swiping the card.

PayPass is available with the PayPass MasterCard, a PayPass keyfob, or by adding the PayPass application to a mobile device. PayPass is equipped with technology that prevents dual charges, so even if the card is accidentally tapped twice, only one charge will be processed.

As with most MBNA Canada credit cards, customers have the option of subscribing to MBNA CreditWise program for an additional fee. This gives the account holder protection in the event of unexpected unemployment, disability, terminal illness, or even death.

Foreign Transaction Fees

The card does however carry a number of additional fees that consumers should consider before choosing the card. The credit card account is subject to foreign currency conversion fees whenever the card is used out of Canada. All billing is done in Canadian Dollars, and foreign transactions are converted using the exchange rate set by MasterCard at the time of processing.

The conversion rate includes fees retained by MasterCard to cover the cost of the conversion, but MBNA Canada will also charge an additional percentage fee on each transaction after conversion. This means that if the consumer is looking for a card that can be used abroad regularly this is perhaps not the best card for their needs.

Conclusion

The Shoppers MasterCard Card issued by MBNA Canada is an unsecured credit card aimed at shoppers with a good to excellent credit history. The card carries no annual fee and has a low introductory interest rate on balance transfers and cheque cash advances. It is also a rewards card which offers generous reward points on all products and services purchased at Shoppers Drug Mart stores. The card is also available in a range of different designs including blue, silver, green, red, and lavender, so there is a design to suit every taste.

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