Mastercard credit cards

Take advantage of worldwide acceptance and exclusive perks with a Mastercard credit card.

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Mastercard, a third party payment processor, is a common credit card option offered by a large number of credit card providers in Canada. It is not very different from its main competitor, Visa, given that credit cards with either logo find acceptance in most countries around the world.

The kind of Mastercard that is right for you depends on your particular requirements. Keep in mind, you should always pay attention to the interest and fees that each card charges, as they could vary for different Mastercard products depending on the features the card offers.

Compare Mastercards

Name Product Purchase Interest Rate Cash Advance Rate Annual Fee Minimum Income Benefits with this card Description
HSBC +Rewards™ Mastercard®
11.9%
11.9%
$0 annual fee for the first year ($25 thereafter)
N/A
Earn 2 Points for every $1 spent on eligible dining or entertainment purchases.
Earn 10,000 Points ($50 travel value). Plus, get a full annual fee rebate for the Primary Cardholder for the first year. Apply by June 29, 2020. This offer is only available to residents of Canada other than the province of Quebec. Conditions apply.
BMO World Elite Mastercard
19.99%
22.99%
$0 annual fee for the first year ($150 thereafter)
$80,000
Get 3 BMO Rewards points per $1 spent on eligible travel, dining and entertainment purchases (up to $50,000 spend annually), and get 2 BMO Rewards points per $1 spent on all other eligible purchases (and once you reach the $50,000 annual spend).
Earn a bonus of up to 35,000 BMO Rewards points with a minimum spend of $3,000 on eligible purchases in the first three months of card membership ($250 travel value to be used towards a flight booked through bmorewards.com). Plus, get the $150 annual fee waived in the first year.
HSBC World Elite® Mastercard®
19.9%
22.9%
$0 annual fee for the first year ($149 thereafter)
$80,000
Earn 3% in travel rewards on all eligible travel purchases (6 Points per $1 spent) and earn 1.5% in travel rewards on all other eligible purchases (3 Points per $1 spent).
Earn up to 60,000 Points ($300 travel value). Plus, get a full annual fee rebate for the Primary Cardholder for the first year. Apply by June 29, 2020. This offer is only available to residents of Canada other than the province of Quebec. Conditions apply.
BMO Preferred Rate Mastercard
12.99%
12.99%
$20
$15,000
Take advantage of an introductory balance transfer offer, annual fee waiver in the first year, and low purchase and cash advance interest rates.
Get a rate of 3.99% on balance transfers for 9 months with a 1% transfer fee. Plus, get the $20 annual fee waived in the first year.
Shell AIR MILES Mastercard from BMO
19.99%
22.99%
$0
$15,000
Get 2 AIR MILES for every $20 spent at participating AIR MILES Partners, and get 1 AIR MILE for every $20 spent on eligible purchases elsewhere.
Earn up to 800 AIR MILES Bonus Miles.
Shell AIR MILES World Mastercard from BMO
19.99%
22.99%
$99
$60,000
Earn 1.25 AIR MILES reward miles at Shell stations in Canada and 1 mile per $15 spent for all other purchases.
Earn 1.25x Miles on card purchases at participating Shell stations in Canada and 1 mile per $15 spent for all other purchases.
BMO CashBack World Elite Mastercard
19.99%
22.99%
$0 annual fee for the first year ($120 thereafter)
$80,000
Earn 1.5% cash back on all eligible purchases.
Get up to 5% cash back on all eligible purchases made within the first 3 months (up to a maximum spend of $4,000). Plus, get the first year annual fee of $120 waived.
Shell CashBack Mastercard from BMO
19.99%
22.99%
$0
$15,000
Get 1.5% cash back at participating Shell locations in Canada (up to a maximum spend of $2,500 in any monthly billing period), and get 0.5% cash back everywhere else.
Get $50 in cash back bonuses once you charge your first eligible purchase to your card. Plus, earn 1% cash back for the first 6 months on all eligible purchases.
BMO Rewards Mastercard
19.99%
22.99%
$0
$15,000
Get 1 BMO Reward point for every $1 spent on eligible purchases, and get 2 BMO Rewards points for every $1 spent at participating National Car Rental and Alamo Rent A Car locations.
Earn a bonus of up to 20,000 BMO Rewards points. Plus, get a rate of 1.99% on balance transfers for 9 months. A 1% fee applies to transferred balances.
BMO IGA AIR MILES Mastercard
19.99%
22.99%
$0
$15,000
Get 2 AIR MILES for every $20 spent on eligible purchases at IGA stores and at participating AIR MILES partners, and get 1 AIR MILE for every $20 spent elsewhere.
Get up to 800 AIR MILES Bonus Miles.
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*The products compared on this page are chosen from a range of offers available to us and are not representative of all the products available in the market. There is no perfect order or perfect ranking system for the products we list on our Site, so we provide you with the functionality to self-select, re-order and compare products. The initial display order is influenced by a range of factors including conversion rates, product costs and commercial arrangements, so please don't interpret the listing order as an endorsement or recommendation from us. We're happy to provide you with the tools you need to make better decisions, but we'd like you to make your own decisions and compare and assess products based on your own preferences, circumstances and needs.

What are the benefits of using a Mastercard?

  • Global acceptance

Mastercard is accepted in hundreds of countries and millions of locations around the world. You can use your Mastercard wherever the Mastercard symbol is displayed, including at ATMs, credit card terminals in local shops, restaurants and online.

  • Mastercard Tap & Go®

Just about all newly issued Mastercard credit cards make use of this technology that enables cardholders to make contactless payments for purchases under $100. Simply hold your Mastercard up to the credit card terminal and your payment will be processed without entering a PIN or signing anything.

  • Currency conversion

When you use your Mastercard overseas, you don’t have to worry about making confusing currency conversion calculations because it automatically pays the merchant in the local currency and bills you in CAD.

  • Emergency Services

You can contact Mastercard’s customer service team at 1-800-307-7309 to help you with the reporting of lost or stolen cards, and it can provide emergency replacement cards and cash advances. It can also help you find the nearest Mastercard ATM and provide information related to your account.

  • World Mastercard

With World Mastercard, cardholders can take advantage of wine privileges at participating restaurants, complimentary meals at partnered hotels, plus exclusive dining and travelling experiences.

  • Mastercard Priceless Cities

Mastercard Priceless Cities offers cardholders access to a variety of unique and exclusive experiences ranging from dining, shopping, entertainment, travelling and golfing.

      What are the features of a Mastercard credit card?

      • Easy access to funds.
        While you can use your Mastercard to make in-store, online and over the phone purchases, you can also use it for cash advances at ATMs and supporting financial institutions.
      • Mastercard SecureCode.
        This online program provides additional security when your credit card details make it to the online marketplace, minimizing the possibility of unauthorized or fraudulent usage.
      • Zero Liability.
        Mastercard’s Zero Liability policy protects cardholders from any unauthorized or fraudulent charges.

      How can I compare Mastercard credit cards?

      • Fees.
        The fees you end up paying depend on the credit card provider you choose to go with, as well as the card you get. A basic no-frills Mastercard might require you to pay little or no annual fees compared to a gold or platinum Mastercard that may have a higher annual fee.
      • Interest rate offers.
        Compare Mastercard products based on any promotional interest rates that can help you cut costs with either balance transfer offers or no annual fee for the first year.
      • Credit card provider.
        Since they determine many of the features and fees that come with the card, it’s important to consider which bank or institution will issue the credit card.
      • Rewards.
        You can find several Mastercard credit cards linked to various rewards and travel rewards programs. This is something you should consider if you’re looking to earn points or cashback as you spend.
      • Complimentary insurance.
        Some Mastercard products offer complimentary insurance including extended warranties, price protection, Mastercard ID Theft Protection, global services, travel insurances and more.

      History of Mastercard

      Mastercard began operations in the late 1940s, at a time when a number of American banks gave their customers specially issued paper that they could use in the form of cash at local establishments. Mastercard issued its first batch of credit cards in California, to serve as direct competition to the Bank of America card that later went on to become Visa.

      With time, a number of franchises evolved in several cities, and in 1966, one such group formed the Interbank Card Association (ICA). No single bank dominated the running of this organization and member committees came into effect for this very purpose. ICA went on to become Mastercard in 1979.

      Frequently asked questions

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