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