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Mastercard as a company provides a payment method, which is used by banks. Basically, if you see a Mastercard logo, you know that your card issuer has chosen it. Mastercard is well-known for functioning worldwide. That's why millions of people rely on the MasterCard name for global acceptance. Over time Master card has come up with a considerable number of features and cards that can suit the most fastidious taste. Going through the options, you can choose the one that fits your needs best.

Cards by account type


  • Credit cards

Using a credit card you borrow money from a bank that has made it available. The amount of money is set depending on your credit limit. Credit limit is in turn affected by your credit score. You pay back as soon as you have money, but within the due date. If you carry a balance, you'll most probably face high interest rates. So the bottom line is that you borrow money when you don't have your own, but return when you can. Credit cards by Mastercard Company can be used to make cashless transactions anywhere in the world. The user gets the opportunity to choose from different types of credit cards depending on their income and financial credibility. High-end credit cards have larger credit limits and low APRs.

One of the best advantages of credit cards is a consumer protection. If a merchant cheats or charges you more than supposed to, the bank may investigate or dispute the case.

  • Debit cards

Debit cards are linked to your bank account and are funded directly from it. Basically, they act like a check, only you access your money instantly. Some debit cards provide overdraft for the situations when you charge more they you have left on your account. If you overdraw the money, you are usually required to pay fees. Debit cards come with no benefits, but no fees either. Mastercard debit cards offer little or no consumer protection, so mostly you are on your own with frauds.

  • Prepaid cards

Prepaid cards are cards that you load with money and that make purchases. Therefore, the only amount of money that you can use is limited to what you have deposited onto the card. These cards are not attached to any bank account. In a way, they are similar to gift card, only you can reload them. They don't provide any overdraft.

Specific Mastercard types

  1. Standard Mastercard

    This is a basic type of cards. It doesn't usually come with high benefits or liability protection, but it is good for building credit. However, since your benefits and fees are implemented by your card issuer, you may want to inquire about your card conditions at your bank's website.

  2. Gold Mastercard

    A Gold card generally gives more rewards and bonuses, but what's more significant, it comes with free travel assistance, travel accident insurance and roadside assistance. There are also deals on purchases as well as various discounts.

  3. Platinum Mastercard

    If you would like an access to premium features and benefits, Platinum Mastercard is for you. It provides better rewards and also travel assistance and purchase protection.

  4. World Mastercard

    This card is designed specifically for frequent travelers. It includes perks like price protection, extended warranty protection and ID theft protection services on purchases, trip cancellation services. It also offers discounts on vacation packages, travel upgrades and savings on golf, spas, dining out and entertainment. You can enjoy the convenience of a personalized concierge service at airports. However, don't forget that purchases or cash advances overseas can add a foreign transaction fee to the overall price.

  5. World Elite Mastercard

    If you want all the best in the world of travel cards, choose the luxury of owning a World Elite Mastercard. This card provides discount at selected hotels, car rentals, cruise packages, vacation tours and airfare, chauffeur services or private jets flights. Imagine all of this, including the 24/7 concierge service to help you anytime.


This is a relatively new type of payment that has been introduced to allow users to make purchases without swiping their credit cards or entering a PIN number or leaving a signature, These cards are provided with a small electronic chip that remains embedded into the card. As and when the Mastercard is held against a PayPass reader, the transaction gets immediately completed without the need for further input from the credit card holder. A PayPass Mastercard can function both as a credit card or debit card as per the need of the customer.

The array of Mastercards may seem confusing at first, but the ability to navigate the sea of different cards might help save you quite a bit of time and money. If you are ready to start your journey towards a Mastercard credit card, you can choose one here.