View Best Mastercard Credit Cards - Comparewise

Best Mastercard Credit Cards

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Mastercard

*Limited time only – Get a $20 cash bonus with code: COMPAREWISE by...
  • $0
    Annual fee
  • $20
    Welcome Bonus
  • 2%
    Rewards Rate
  • Min.Credit:
                        
  • Rating: 5.0
*Limited time only – Get a $20 cash bonus with code: COMPAREWISE by...
  • $0
    Annual fee
  • $20
    Welcome Bonus
  • 2%
    Rewards Rate
  • Min.Credit:
                        
  • Rating: 5.0
*Limited time only – Get a $20 cash bonus with code: COMPAREWISE by...
  • $84
    Annual fee
  • $20
    Welcome Bonus
  • 2%
    Rewards Rate
  • Min.Credit:
                        
  • Rating: 5.0
The Neo Secured card is a game-changer for anyone with poor credit or no...
  • $0
    Annual fee
  • $0
    Welcome Bonus
  • 5%
    Rewards Rate
  • Min.Credit:
                        
  • Rating: no reviews
The Neo Reward Credit Card is perfect for anyone who wants to get more...
  • $0
    Annual fee
  • $0
    Welcome Bonus
  • 5%
    Rewards Rate
  • Min.Credit:
                        
  • Rating: no reviews
The Tangerine World MasterCard is one of the best cashback cards packed...
  • $0
    Annual fee
  • $100
    Welcome Bonus
  • 2%
    Rewards Rate
  • Min.Credit:
                        
  • Rating: no reviews
The National Bank ECHO Cashback Mastercard offers generous rewards on...
  • $30
    Annual fee
  • $0
    Welcome Bonus
  • 1.5%
    Rewards Rate
  • Min.Credit:
                        
  • Rating: no reviews
The National Bank mycredit Mastercard is a good choice for anyone looking...
  • $0
    Annual fee
  • $0
    Welcome Bonus
  • 1%
    Rewards Rate
  • Min.Credit:
                        
  • Rating: no reviews
The National Bank World Elite Mastercard is one of the best reward credit...
  • $150
    Annual fee
  • 20,000 pts
    Welcome Bonus
  • 1.5 pts
    Every $1 Spent
  • Min.Credit:
                        
  • Rating: no reviews
Giving back meets excellent cashback rewards with the National Bank Allure...
  • $0
    Annual fee
  • $0
    Welcome Bonus
  • 1 pt
    Every $2 Spent
  • Min.Credit:
                        
  • Rating: no reviews
The National Bank MC1 Mastercard is the best low–risk card to manage...
  • $0
    Annual fee
  • $0
    Welcome Bonus
  • 0%
    Rewards Rate
  • Min.Credit:
                        
  • Rating: no reviews
The National Bank Syncro Mastercard offers one of the lowest interest...
  • $35
    Annual fee
  • $0
    Welcome Bonus
  • 0%
    Rewards Rate
  • Min.Credit:
                        
  • Rating: no reviews
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Mastercard Credit Cards

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.

Types of Mastercard Credit Cards

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:

  • Standard – Includes basic Mastercard credit cards that cater to anyone who wants to build credit and isn't looking to pay annual fees. These are your no fee, low interest, and student credit cards. They include purchase protection and an extended warranty as part of the benefits.
  • World – Rewards credit cards typically fall into this mid-tier range. World Mastercard credit cards usually have annual fees and annual income requirements of at least $60,000. These credit cards can earn cashback, points, miles, and additional perks.
  • World Elite – This is a premium Mastercard, usually in the form of a rewards credit card. They're often catered to frequent travellers, as they come with a comprehensive suite of travel insurance. They also include great perks like complimentary airport lounge access and improved concierge services.

Mastercard Credit Card Perks

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.

mastercard credit cards - comparewise

Mastercard Partnerships

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.

Pros and Cons of Mastercard Credit Cards

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.

The Pros of Mastercard Credit Cards

  • Worldwide acceptance. You can use a Mastercard credit card at millions of locations worldwide.
  • World and World Elite perks. If you have one of these cards, you’ll benefit from exclusive perks. This includes a complimentary concierge service, comprehensive insurance, and access to exclusive online experiences.
  • No fee options are available. You can find a Mastercard credit card in Canada with no annual fee.

The Cons of Mastercard Credit Cards

  • Low earnings potential. Compared to Visa and American Express, Mastercard earns rates for points, and cashback rewards aren't as high.
  • Lesser welcome offers. Unlike American Express, new Mastercard credit cardholders rarely get lucrative introductory offers.

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Advertise disclosure

Offers shown here are from third-party advertisers. We are not an agent, representative, or broker of any advertiser, and we don’t endorse or recommend any particular offer. Information is provided by the advertiser and is shown without any representation or warranty from us as to its accuracy or applicability. Each offer is subject to the advertiser’s review, approval, and terms. We receive compensation from companies whose offers are shown here, and that may impact how and where offers appear (and in what order). We don’t include all products or offers out there, but we hope what you see will give you some great options.

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May 16, 2022
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FAQs about
Mastercard Credit Cards

Can I Get a Credit Card Directly from Mastercard?

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.

Who Issues Mastercard Credit Cards in Canada?

These are the financial institutions that issue Mastercard Credit Cards:

  • BMO Bank of Montreal
  • Brim Financial
  • Capital One
  • CIBC
  • HSBC Bank Canada
  • MBNA
  • National Bank of Canada
  • President’s Choice Financial
  • RBC Royal Bank
  • Scotiabank
  • Tangerine
Are There Any Mastercard Credit Cards with No Annual Fee and Extra Benefits?

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.

Which Mastercard Credit Card Can Earn Me the Most Rewards?

The MBNA Rewards World Elite Mastercard. You will earn:

  • ­5 points for every $1 spent on eligible groceries, dining, subscriptions, memberships, and utility payments
  • 1 point for every $1 spent on everything else
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