Benefits of Mastercard | Do You Really Need It? Let’s Find Out!

Are you a Mastercard holder and still unaware of the benefits of a Mastercard that you can make use of? Then you are missing out on a lot.

Using a Mastercard provides you the freedom that you need for a joyful lifestyle. Mastercards are accepted at almost all the stores, online stores, gas stations, entertainment points, etc. You can use it at almost all the hotels around the US that do not accept payment by cash or checks.

Is that all?

Not even close! Here we will quickly review all the perks associated with becoming a Mastercard credit cardholder. Let’s have a look!

Benefits of Mastercard Credit Cards

Although credit card issuers mainly decide the rewards and benefits of the card in question but the payment network itself, like Mastercard, does offer some perks for all its users.

FYI! MasterCard is not a credit card issuer. In fact, it is only a payment network that means it is responsible for processing the transactions that take place when using credit cards. Some credit card providers that use the MasterCard payment network includes Capital One, Credit One, Discover it, Citi, etc.

Personal Benefits Of Mastercard

Complete Protection Against Theft

Mastercard service ensures that you are not held responsible for unauthorized transactions made via your account. If you report that the card is missing or has been stolen, the service will protect you against fraudulent use of your card.

Furthermore, you will also get identity-theft protection and prevention. The particular bank that you choose will track your personal information for finding out if any website is making illegal use of your data.

In case your card or wallet has been stolen, you can opt for immediate help from the authorities by ordering the cancellation of all your cards and ID documents such as CNIC and driver’s license.

Did You Know? Up till 2019, Mastercard also offered price protection. This meant that the network compensated you in the case you bought something at a higher price whereas it was available on sale elsewhere. The additional money was refunded to the customers. This benefit was discarded later on.

Travel-Related Benefits of MasterCard

Insurance For Trip Cancellation

Mastercards allow you to get in touch with trip planners either online or via phone call. You can also avail of discounts on travel packages, hotel bookings, travel tickets, etc.

On top of that, Mastercard will reimburse you for any non-refundable cancellation. If your trip is canceled or interrupted, the network will refund common carrier tickets that you bought using the Mastercard credit card.

Insurance For Travel Accident

Mastercards cover its users in the event of accidents and sudden loss. This includes coverage of all damages to a vehicle as well as vehicle theft that you had rented or bought using the eligible Mastercard.

Furthermore, if your luggage was damaged on a common carrier, Mastercard will reimburse the actual cost of getting it repaired.

Hotel-Related Benefits

Hotels Available At Lowest Rates

Mastercard presents a number of hotel-related perks as well. Our favorite is that it ensures you get to book hotels at the lowest possible prices. In case a customer pays for the booking with Mastercard and later realizes that the exact stay was available at a discounted price, Mastercard will refund the excess amount immediately.

Guaranteed Customer Satisfaction

Lifestyle Manager booked via Mastercard guarantees a comfortable hotel stay but you need to keep in mind that this is applicable to certain hotels only. Other than that, the list of luxury hotel benefits includes early check-ins, late check-outs, etc at more than 2,000 locations around the globe.

Discounts With Mastercards

Good news!

 You can also enjoy a number of discounts on your Mastercard. The nature and worth of the discount depend on the service in question. For example, Shoprunner provides 2-day free shipping and free return shipping to Mastercard users. This is applicable to more than 140 online merchants.

Additionally, Onefinestay offers 10% off home rentals to its customers paying via Mastercard credit cards. Other than that, World Mastercard cardholders can enjoy exclusive perks with PGA TOUR.

Please Note!

All the benefits discussed above are made available by Mastercard for its users. However, these are subject to change depending on the credit card that you apply for. Some credit card issuers provide benefits in addition to these while others replace the benefits with some other offers.

Therefore, it is important to go through the specific “Terms and Conditions” as stated by the particular bank. This is the reason that most credit card applications include the clause “Additional terms, conditions and exclusions apply. Contact your issuing financial institutions for complete coverage terms and conditions.”

Lastly, Mastercards carry different levels from Standard to World, and World Elite. The benefits that we have talked about in this article are limited to the type of credit card under question.

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