Credit cards are financial products that enable financing your purchases and also provide discounts, cashback, and other benefits. There are many different types of credit cards available. If you have ever used a credit card before, you have heard about Mastercard.
Mastercard is a very reliable and secure global network along with Visa and American Express, it is also one of the biggest in the credit card networks scene. Although these well-known networks offer quite similar benefits there are slight differences when it comes to benefits. Let’s dive deep into first what is Mastercard then we will give a detailed explanation of the benefits and exclusive offers of this secure and flexible payment product.
What is a Mastercard credit card?
Mastercard itself doesn’t issue the credit card directly. Mastercard might be issued by different banks, credit unions, and mid-to-large financial institutions all around the world. In simple words, it is a network that enables transactions between issuers and merchants. As these credit cards are issued via financial institutions, if you want to get one, you can apply through your bank or service provider. Mastercard is available both in virtual and physical forms. The logo of Mastercard is two interlocking red and yellow circles. The small logo is visible on the front side of your physical or virtual card.
Mastercard offers consumers flexible choices for their financial planning and payment installment options which might be very appealing for those who are seeking financing alternatives without getting into debt. However, this is not the only benefit that Mastercard offers. Let’s find out more about the benefits of having a Mastercard.
What are the benefits of Mastercard?
Apart from benefits that are provided by your bank or financial institute, Mastercard presents a lot of direct benefits to its customers. Mastercard has a large global acceptance. It offers endless benefits such as reward points, discounts, and concierge services. However, these benefits are not fully available for everyone as Mastercard operates three different levels Standard, World, and World Elite. Depending on your personal needs you can prefer one of these three levels. Let’s see what are the differences so you can decide which level is suitable for you and your financial goals:
Standard Level Mastercard
Standard Mastercard provides high security to its users with zero fraud liability. In other words, Mastercard won’t hold you responsible for “unauthorized transactions”. Mastercard is protected against fraud for purchases in stores, in apps, or over the phone.
Global Service is another benefit provided by Mastercards itself to its customers. This is a global customer service. If you lose your card or your card is stolen, you can directly contact this global line of service.
Booking.com is one of the strongest partners of Mastercard, you can directly receive discounts of up to 7%.
Moviepass is another available offer to Mastercard customers. You can get 50% off of the first two months of a standard or premium MoviePass plan.
The healthlock option might be useful to protect you from potential mistakes on medical bills. HealthLock for Mastercard Medical Claim Monitor complimentary membership plus a 90-day upgrade to all HealthLock services at no monthly cost.
World Mastercard Benefits
You have access to all standard benefits within the World Mastercard level. Additionally, World Mastercard provides Mastercard Travel & Lifestyle Services which include:
Trip planning assistance: an assistance service to plan your trips over the phone or online including discounts on various travel packages.
Low hotel rates: Mastercard guarantees a refund you the difference if you find a better rate for your stay (with the same conditions) that has been paid through your Mastercard.
Lifestyle Manager for hotel satisfaction: If you face a problem in your 3-star or higher hotel, as long as you book your stay through Mastercard, they provide direct assistance.
Luxury hotel benefits: If you prefer luxury accommodation for your travels, Mastercard is there for you to provide upgrades, early check-in/late checkout, and other benefits at more than 4,000 properties worldwide.
World Mastercard cardholders can save not only on hotel stays but also on car rentals and flight bookings through Mastercard’s Travel & Lifestyle Services. Mastercard also provides access to exclusive events all around the world with multiple discount options on services including Instacart, Peacock, Lyft, ResortPass, HelloFresh, Shoprunner, and Golf PGA Tours.
World Elite Mastercard Benefits
In the Elite level, all standard- and world-level benefits are included. Additionally, you will earn higher credit for some benefits such as a $5 statement credit on the Peacock Premium+ monthly streaming subscription and a $30 statement credit on your next ResortPass booking of $200 or more.
Alomoves: Alomoves is one of the most successful wellness movements around the world. 50% off on Alo membership and 300 Alo loyalty points are waiting for you in this package.
Various Concierge services: from dinner reservations to other exclusive concierge services are available for World Elite Mastercard cardholders.
Mastercard Travel Rewards: you can collect rewards while you are shopping abroad with your Mastercard. In eligible countries, you will have access to hundreds of offers both online and in-store.
Credit cards are not offered to all customers. Banks generally check your credit score history before they offer this financial product. If you have a good credit score chances are high that you will be offered one of the levels of Mastercard and its benefits.
Also please note that these benefits are generally available for a limited time and these offers are updated regularly. If you want to check the details of the benefits you can go to the website of your bank where you have obtained your Mastercard. Also, you can read Mastercad’s terms and conditions on the official website to get more information. It is important to compare all the different levels of benefits and decide which one is right for you.
All three different levels have different maintenance fees. These fees also may vary to the card issuer. After comparing benefits, please check the monthly/annual maintenance fees before getting an upgrade on your Mastercard.
