Mastercard is one of the most widely-used interbank networks globally, with service in 210 countries. Whether you’re looking for a card with great rewards or no annual fee, you can find a Mastercard to fit your needs. Read on for the best Mastercard credit cards.
Quick Look: Best Mastercard Credit Cards
What Are the Best Mastercard Credit Cards?
Many different types of credit cards with amazing rewards exist. From generous signup bonuses to travel rewards large enough to get a roundtrip ticket. Here are the best picks for this year.
1. Best for Beginners: Firstcard
Firstcard offers financial flexibility unlike any other. With no fees, no minimum deposit and no minimum credit score requirement, you can add money to this card and use it to improve your financial standing, along with cashback rewards (15% merchant, 10% random and 1% unlimited cashback).
You get a strong APY on the cash sitting in the account, and it can be used to manage all your expenses, from the cost of being a student to getting your finances back in order.
- Build your credit without the need for a card ”approval”
- No minimums
- Virtual card access makes online shopping easier
- You may not have access to the merchant partners at Berkeley or Stanford
- Regular deposits are required
2. Best for Simple Cash Rewards: Capital One QuicksilverOne Cash Rewards
If you’ve got fair to average credit, consider the Capital One QuicksilverOne Cash card. You’ll get a credit card with no annual fee, simple cash rewards and the possibility to access a higher line of credit.
- Unlimited 1.5% cash back on all purchases
- 5% back on hotels and rental cars when you book through Capital One Travel
- Automatically considered for a higher credit line within six months
- No boost reward categories
- $39 annual fee
3. Best for Bonus Categories: Chase Freedom Flex
If you want to earn as much as 5% back on certain categories that change quarterly or consistently higher cash back on restaurants and drug stores, consider Chase Freedom Flex. You’ll earn $200 cash after spending $500 on purchases in the first three months of account opening.
- Earn a $200 signup bonus
- Earn 5% cash back in bonus categories
- Consistent 3% cash back at restaurants and drugstores
- 1% on all other purchases
- Gas stations are included in bonus categories for two quarters per year
- Have to opt into the bonus categories
- Automatically considered for a higher credit line within six months
4. Best for Automated Rewards: Citi Custom Cash Card
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Regular APR
18.99% – 28.99% variable for purchases and balance transfers | See Rates and Fees 29.99% variable for cash advances
Terms Apply
The Citi Custom Cash card offers no annual fee option with the possibility to earn 5% automated rewards based on your spending. You don’t have to click any activation button, making it easier to earn more.
- Earn 5% cash back in your highest spend category
- Earn 1% cash back in all other categories
- No annual fee
- Monthly cap on 5% cash back in $500
- 1% on other purchases isn’t the most competitive option
5. Best for Small Businesses: Bank of America Business Advantage Travel Rewards World Mastercard
If you’re a small business owner who travels, the Bank of America Business Advantage Travel Rewards World Mastercard could be the right choice for you. You can earn 30,000 bonus points after making at least $3,000 in purchases within 90 days of account opening. You’ll also get a 0% APR for the first nine months. In addition, earn 1.5 points for every $1 spent.
- Unlimited rewards
- Signup bonus equal to a cash equivalent of about $300
- 0% APR for the first nine months
- Contactless card
- Not the highest rewards offer for a business credit card
6. Best for Introductory 0% APR: BankAmericard Credit Card
If you’re looking for an option to save on interest while paying off debt, consider the BankAmericard for a 0% introductory APR. There’s also no penalty APR, so your rate won’t increase with a late payment. Great for people needing time to gather finances or pay off debt.
- Get 0% APR for the first 18 months
- 0% APR on any balance transfers within 60 days of account opening
- $0 annual fee
- 0% APR on any balance transfers within 60 days of account opening
- $0 annual fee
7. Best for Travel Rewards: Citi Premier Card
If you’re looking for a card to earn more rewards, consider the Citi Premier Card. You’ll earn three points for every $1 spent. You’ll get 60,000 points as a signup bonus when you meet the minimum spend.
- Choose from many travel redemption options
- No foreign transaction fees
- Add an authorized user without additional cost
- No travel or purchase protection
- Higher APR
- $95 annual fee
8. Best for Cash Back: Citi Double Cash Card
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Regular APR
18.99% – 28.99% variable for purchases and balance transfers. 29.99% for cash advances. Rates determined based on your creditworthiness.
If you want the option to earn 2% cash back on all purchases, plus a $200 signup bonus, consider the Citi Double Cash Card. It has no annual fee and a 0% intro APR on all balance transfers, making it a solid choice for anyone looking to get more cash back or pay off debt.
- Earn 2% cash back, with incentives to pay off the card
- There’s no cashback limit
- No annual fee
- 0% introductory APR period for balance transfers
- High balance transfer fees
- Foreign transaction fees
- No introductory 0% APR on purchases (only balance transfers)
9. Best for Cash Signup Bonus: Capital One SavorOne Rewards Credit Card
For those who love dining out and splurging on entertainment, the Capital One Savor card gives you cash back on your social life. Get 4% cashback on dining and entertainment, including streaming, plus 3% cashback at the grocery store.
- 4% cash back on eligible categories
- Get the most in entertainment rewards
- No foreign transaction fees
- Unlimited earnings
- Annual fee
- High APR
- No introductory 0% APR
What is a Mastercard Credit Card?
A Mastercard credit card is a type of card processing company. Mastercard, Visa and American Express are the three largest credit card processors in the world. While the service is similar, their revenue models differ. Mastercard earns revenue by charging card-issuing institutions based on their percentage of global dollar volume.
What Are the Different Types of Mastercards?
Mastercard credit cards have different benefits. You can choose from standard, world or world elite Mastercards. All come with consumer protection. Here’s how each one stacks up.
Standard Mastercard
A standard Mastercard is an option for daily purchases. A standard Mastercard will provide global service and emergency assistance in any language. You’re also not responsible for unauthorized charges made on your card. It also offers ID theft protection.
World Mastercard
A world mastercard includes worldwide acceptance and comes with stronger benefits. Many are travel-focused, but you can also get discounts on Instacart, Peacock, ShopRunner and more. In terms of travel, users can get car, air, cruise and vacation packages; airport concierge; the best hotel rates; and more.
World Elite Mastercard
As the highest tier of Mastercard, this tier includes all other tier benefits, plus access to a dedicated concierge service that can help you make travel bookings, shop and more.
The Pros and Cons of Owning a Mastercard
You gain numerous advantages to a Mastercard and few disadvantages. The advantages are:
- Build a positive credit history with responsible use
- EMI deferred payment options
- Possible interest-free period
- Purchase protection in case of unauthorized charges
- Get rewards, perks and premium services
- Worldwide acceptance
The disadvantages are similar to other credit cards:
- Risk of taking on too much debt
- High interest rates
- The risk of credit card fraud
Key Differences between Mastercard and Visa Cards
The difference between Mastercard and Visa cards is minimal. How they earn revenue differs. While Visa charges a per-transaction fee or charges based on the card volume, MasterCard charges the card-issuing institution based on its percentage of total global volume.
Besides that behind-the-scenes difference, the only real differences are the rewards and features of individual cards, which vary across Visa and Mastercard. In terms of similarities, both Visa and Mastercard offer three tiers of credit cards and are accepted in most locations where credit cards are accepted.
Choosing the Best Mastercard for You
The best Mastercard for you depends on your spending habits and lifestyle goals. If you love to travel, choose one that maximizes signup bonuses and extra rewards earned. If you prefer simplicity, a card that rewards you 2% cash back on all purchases or up to 5% in your highest spend category can be a simple way to save more each month.
How many credit cards should you have? That depends on your lifestyle and spending habits. You could have one or several but remember not to apply for too many at once to avoid harming your credit score. Looking for more? Find the best credit cards or tips for upgrading your credit cards here.
Frequently Asked Questions
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Some of the best Mastercards to have include the Citi Rewards+ card, Citi Double Cash card, and the Capital One QuicksilverOne Cash Rewards Credit Card
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Considering that 60% of consumers have a credit score of 700 or more, the World Elite Mastercard isn’t difficult to get. Usually, World Elite Mastercard requires a credit score of 670 and up, which makes it accessible to many consumers.
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Yes, Mastercard is widely accepted worldwide.
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Yes, it is safe to use Mastercards. Mastercard is one of the world’s major credit card processors.
