When shopping around for a credit card, you'll often come across Mastercard. This is because Mastercard is one of the world's largest payment processing networks.
Mastercard doesn’t make credit cards directly available to the public. Instead, banks and other financial institutions in Canada issue Mastercard credit cards that process payments on the network. This includes MBNA, Neo Financial, Tangerine, and Capital One.
Credit cards on the Mastercard network make payments convenient and stress-free. These credit cards are accepted everywhere, from large retailers like Costco to smaller shops. And this is just not in Canada but worldwide as well.
Mastercard credit cards come in various shapes and sizes. This includes lean secured credit cards and robust rewards credit cards. Mastercard credit cards are split into three classes:
Besides benefiting from universal acceptance, Mastercard credit cards give you access to Masterpass and Mastercard Priceless Cities. Masterpass is a digital wallet that makes online shopping faster and more convenient. Mastercard Priceless Cities gives you access to various digital experiences, including cooking classes.
The World and World Elite Mastercard credit cards come with the most perks. This includes comprehensive travel insurance, airport lounge access through LoungeKey, and access to 1 million hotspots worldwide through Boingo Wi-Fi. Mastercard credit cards also provide fraud protection with the Mastercard Zero Liability policy.
The list of Mastercard partners is exhaustive. There are several brands and companies worldwide and in Canada that are partnered with Mastercard. This includes PC Financial, BMO, RBC, and Neo Financial.
Like any other credit card, Mastercard credit cards have benefits and drawbacks. Below are some you should consider when shopping around for a credit card.
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No. Mastercard doesn’t issue credit cards. It’s mainly a payment processing network. However, you can get a Mastercard credit card from a handful of banks and other financial institutions in Canada.
These are the financial institutions that issue Mastercard Credit Cards:
Absolutely! Some contenders include the Neo Secured Card, the Tangerine Money-Back credit card, and the PC Financial World Elite Mastercard.
The Neo Secured Card earns you up to 5% cashback at Neo partners. The Tangerine Money-Back credit card is popular for its flexible rewards program. As for the PC Financial World Elite Mastercard, you can earn up to 45 points when you use your card.
The MBNA Rewards World Elite Mastercard. You will earn: