Guide to MasterCard Credit Cards

MasterCard credit cards are some of the world’s most recognizable credit cards. Accepted at more than 24 million locations worldwide, MasterCard credit cards, including MasterCard business credit cards, are issued through financial institutions and merchants that offer co-branded credit cards.

MasterCard credit cards that are co-branded often come with incentives, such as discounts on merchandise and services. There are also MasterCard credit cards called affinity cards that carry the logo of non-profit organizations, such as colleges and charities. A small percentage of each transaction made using an affinity card goes to the organization.

Some factors to consider when choosing MasterCard credit cards: 

1. Take advantage of MasterCard offers that feature a low fixed-rate balance transfer if you’re sure you can pay off the balance before the low rate expires. 
2. If you frequently use your MasterCard personal credit card or business MasterCard to make purchases from overseas vendors, apply for MasterCard credit cards from providers with low international transaction fees.
3. When you apply for a business MasterCard credit card, your personal credit history may be taken into account if your company is too new to have a credit history.

Action Steps
The best contacts and resources to help you get it done

Pick your MasterCard personal credit card

A MasterCard personal credit card comes with benefits such as the Zero Liability policy, which protects you from unauthorized purchases.

I recommend: Consider MasterCard Standard Credit Cards if you want a basic credit card or are shopping for your first card. If you have a solid credit history, check out MasterCard offers, such as the Gold MasterCard, the Platinum MasterCard. For high-end benefits, look into the World MasterCard  and the World Elite MasterCard. MasterCard offers students their own slate of credit card choices.

Get rewarded for using your MasterCard credit cards

Looking for free goodies? Apply for reward cards from MasterCard credit card providers.

I recommend: To earn points for airline miles, hotel stays and other purchases, MasterCard offers a variety of rewards cards. For instance, the Citi Diamond Preferred Rewards Card lets you earn points for rewards, such as travel, merchandise and gift cards. The Toys“R”Us and Babies“R”Us MasterCard lets you earn points for rewards at those merchants. If you qualify for a World Elite MasterCard, you can get a Sotheby’s MasterCard which offers unique rewards, such as a helicopter tour of the California wine country with a Sotheby's wine specialist.

Get down to business with MasterCard business credit cards

A business MasterCard lets you complete business transactions via the Internet or over the phone. MasterCard business credit cards can also help a growing business through a cash crunch.

I recommend: MasterCard offers a variety of credit cards with a wealth of benefits and features for small businesses, mid-sized businesses and businesses with revenues over $1 billion. Take advantage of the MasterCard Purchase Optimizer, which analyzes the expenses on your MasterCard business credit cards and recommends ways to use them more effectively.

Sign up with major MasterCard credit card providers

Major MasterCard credit card providers typically offer more options when it comes to opening a credit card account.

I recommend: Citi is a popular choice for a MasterCard personal credit card or for a business MasterCard. Other common providers include CapitalOne and banks, such as Chase.

Shop for MasterCard business credit cards and personal cards at comparison sites

Several comparison sites let you search for the best MasterCard credit cards by the type of card - rewards, low interest, instant approval, cash back, business - by your credit quality or by bank issuer.

I recommend: Before filling out a MasterCard credit card application, check comparison sites, such as CreditCards.com, CardFusion and CreditCardGuide.com.

Tips & Tactics
Helpful advice for making the most of this Guide

• With a fixed rate, MasterCard credit card providers must give you 15 day's notice if your interest rate changes. A variable rate can change without warning.
• When you apply for MasterCard credit cards, remember that affinity cards usually don't come with reward offers.
• If you have more than one MasterCard credit card, pay down the balance of cards that carry the highest interest rates first.