If you regularly use credit cards for purchases, you probably know the difference between the Mastercard logo and logos for other types of cards. What you may not know is that there are several different kinds of Mastercards to choose from. If you are in the market for a new credit card, take a look at our guide to the five different types of Mastercards to help narrow down your search.
If you are just starting to build your credit history or you want a card that you can use to cover everyday expenses, you can’t go wrong with a standard Mastercard. With this type of card, you get zero liability protection for unauthorized purchases. You also get complimentary Mastercard ID Theft Protection, which allows you to monitor your credit file for changes that could indicate fraud, such as new credit inquiries, an address change, or a new account opened in your name. Plus, you can enjoy Mastercard Global Service, which gives you access to 24/7 customer service assistance with lost and stolen card reporting, emergency card replacement, and emergency cash advance.
Some Standard Mastercards also offer credit card bonus and rewards programs, which let you earn cash back or reward points good for flights, gift cards and merchandise. The following are a few Mastercards that offer good bonus and rewards.
|Credit Card||Bonus and Rewards||Annual Fee|
Citi Premier® Card
Citi Custom Cash® Card
If you regularly travel outside the U.S., taking along a World Mastercard can give you peace of mind should the unexpected happen. World Mastercards can unlock unique travel experiences, give you preferred access to our most exclusive offers, including VIP events, insider opportunities, and special promotions. With this type of card, members can take advantage of Cell Phone Protection, which provides $1,000 in yearly coverage ($600 max per claim, 2 claims per year) if your cell phone gets stolen or needs repairs. Members can enjoy discounts on vacation packages, travel upgrades and savings on golf, spas, dining out and entertainment. Frequent flyers will also appreciate personalized airport concierge service at more than 450 airports worldwide.
World Elite Mastercard
A World Elite Mastercard is the obvious choice for travelers who want to enjoy a luxury experience wherever they go. With this type of card, you can enjoy discounts on rooms at selected luxury hotels in cities around the world. Members can also take advantage of complimentary upgrades and discounts on things like car rentals, cruise packages, vacation tours and airfare. You can even get discounts on chauffeur services or flights aboard private jets. If you need help booking your trip or run into a problem when you’re away from home, a personalized concierge is available to assist you 24 hours a day, 7 days a week.
Mastercard BusinessCard is designed to improve your productivity with digital solutions and tools that can help accelerate the growth of your business. Members receive discounts or vouchers on time-saving financial tools, such as 40% off on QuickBooks, up to $1,000 in Uber Freight load credit, etc. It also gives cardholders $125 in advertising credit after spending only $10 with Microsoft Advertising. In addition, it provides many travel benefits for business users, including airport concierge, car rental insurance, etc.
World Elite Business Mastercard
World Elite Business Mastercard gives you the purchasing power you need to take care of business, plus essential tools and services at your fingertips. It provides Cell Phone Protection, which reimburses up to $800 per claim with $50 deductible, up to $1,000 total per 12-month period, for covered stolen or damaged phone. In addition, card members can enjoy online booking with exclusive travel offers and benefits, plus 24/7 access to a Travel & Lifestyle Manager to assist with travel planning needs.
With so many different types of Mastercards to choose from, it can be difficult to determine which one is right for you. The key to finding the best credit card is to consider how often you’ll use the card, where you will be making most of your purchases and what kind of fees are involved to make sure you are getting the best deal.