Best Mastercard credit cards for September 2023

Mastercard is a payment network. Its main role is to process the transfer of funds between a cardholder and a merchant. Mastercard cards may include a number of credit card benefits, but whether or not you have access to them is typically up to the issuer. In fact, it’s the issuer that determines most of the features that consumers look for, including credit limits, rewards and other perks, as well as rates and fees. 

Where is Mastercard accepted?

According to its most recent Securities and Exchanges Commission (SEC) filing, Mastercard processes transactions in more than 210 countries and territories. Additionally, Mastercard reported more than 990 million open credit card accounts for 2022, a 3% increase from December 2021.

How does Mastercard work?

Mastercard, like Visa, is only a network and does not issue credit cards. Instead, it partners with issuers to provide credit card options to people. These issuers are financial institutions, including financial giants like Chase, Citi and Capital One, as well as community banks and credit unions.

When you’re ready to choose the right credit card for you, the Mastercard logo may not be the most important factor. To find the card that best fits your finances and lifestyle, follow these steps:

Check your score

Your credit score is one factor that determines your eligibility for different credit cards. If you have good-to-excellent credit (FICO score of 670 and above), you’ll have an easier time qualifying for a number of great cards with some of the best features available. But if your score falls below 670, you’re likely looking for credit-building cards which may not have as many perks.

Know what type of credit card you want

To help you sort through the thousands of cards available, you’ll want to know the type of credit card you’re looking for. Whether you’re looking to earn rewards, take advantage of low interest and balance transfer offers or focus on building credit, you’ll have an easier time finding your card if you know the category that best lines up with your goals and spending habits.

Know the features that matter most to you

Once you know the type of credit card you’re after, it helps to know the features that will give you the most value. For example, if you’re looking for a rewards card, not only will you want to decide what type of rewards matter most to you (cash back versus points versus miles), you’ll also want to decide which additional perks would enhance the card’s short- or long-term value for you. From sign-up bonuses and intro APR offers to travel credits and enhanced redemption options, deciding which features matter most and looking out for them can make it easier to find which rewards credit card is right for you.

Keep narrowing down your options

Now that you know what you’re looking for, you’re ready to narrow down your search even further and compare credit cards. To make your search easier, consider using an online comparison tool like CardMatch. This can help match you with credit cards you may be eligible for using a soft credit pull, which won’t impact your credit score. It may also find cards with special offers and welcome bonuses you are likely to prequalify for and be approved for.

Look at the rates and fees

Finally, before you choose the card you want to apply for, make sure you know the various costs of the card. On top of an APR, your card may have a number of other common credit card fees, which include an annual fee, balance transfer fee, foreign transaction fee, and late payment fee. Some cards even charge a penalty APR if you make one or more late payments, which could last six months or longer. If you’re worried about this added charge, the best way to avoid it (besides paying your bill on time) is to pick a card that doesn’t charge a penalty APR. Once you know the card’s rates and fees, you’re ready to apply for a credit card.

Even though Mastercard is one of the most widely used card networks in the world, there are certain aspects about the company and how it operates in the credit card market that you may not be fully aware of. 

Mastercard annual fee

Annual fees for a Mastercard credit card can range from as low as $0 to hundreds of dollars depending on the specific card. But it’s important to note that since Mastercard credit cards are issued through banks and credit unions that levy annual fees, Mastercard does not impose any charges directly to its credit card holders. As a result, Mastercard credit cards are no more likely to charge yearly fees than other competing card networks such as Visa.

Mastercard transactions

Mastercard operates on a multi-rail payment network, meaning it may take more time to completely process a payment (typically one to three days) but the network exchanges data with efficiency and facilitates secure transactions.

Mastercard benefits and rewards

Many of Mastercard credit cards offer benefits and rewards typical to the credit card market, but there are a few areas where the company distinguishes itself from competitors. When opening a Mastercard credit card, you have the ability to qualify as a World or World Elite member, bringing you a variety of high-end features. Some of the perks below can be found only with Mastercard:

Mastercard World and World Elite benefits

Mastercard World benefits include:

• The Priceless Cities travel experience program, an offer unique to Mastercard
• Identity theft protection
• Room upgrades, if available
• Vacation packages
• Airport concierge service — something not provided at the Visa Signature or Infinite levels

World Elite includes all World benefits, plus:

• Trip cancellation insurance
• 24-hour concierge
• Exclusive Mastercard discounts on a variety of airlines, travel expenses, entertainment brands and more

Other Mastercard features

• SecureCode: A private code made for your Mastercard account, SecureCode helps protect your card in over 122 countries worldwide.
• True Name™ Cards: To take a stand for inclusion and the LGBTQIA+ community, Mastercard worked with other financial institutions to introduce True Name cards in 2020. These cards allow applicants to choose their desired name without proof of a legal name change.
• Masterpass: Mastercard's digital wallet, Masterpass, is designed for online, in-app and in-person shopping. Your card information and address can be stored electronically. Masterpass purchases are a secure way to shop and are also protected by Zero Liability for any unauthorized purchases.

If you’re interested in getting a Mastercard, it may be tough to make a decision among the various cards available. Regardless of which card you choose, here are three ways to get the most of your Mastercard:

• Keep track of your spending and monthly payments. In order to avoid any potential late fees, it’s best to at least pay the minimum balance on your card every month. Overspending can also damage your credit utilization ratio and put you back financially. Most banks or credit unions have a mobile app that allows you to check your Mastercard balance, make payments and view statements. You can also set up alerts for when you reach a certain amount of spending or want to receive notifications about any changes to your account.
• Know your card terms. This is one of the most important steps in managing your credit card. If you have a travel Mastercard, be sure to know if a foreign transaction fee is associated with the card before you go abroad, and if you intend on doing a balance transfer, look to see if you have a 3 percent fee, 5 percent fee or none at all. You can find out all of this information by looking at the terms and conditions of your card on its website or by calling customer service.
• Take advantage of rewards and benefits. You can put your card to good use if you understand everything it has to offer. There are many Mastercard credit cards that offer cardholders the chance to not only earn rewards, but additional benefits such as extended warranties, cell phone protection, travel perks, discounts and more. 

Based on your specific goals and preferred network features, a Mastercard credit card may be well worth it. Several of its common benefits include purchase protection and insurance, concierge services, luxury hotel and resort access, exclusive deals, and more, in addition to worldwide acceptance and access to zero liability protection, global emergency services and cell phone protection. Apart from its Standard, World, and World Elite tiers, you have the opportunity to earn competitive rewards, have $0 annual fees and even pay away debt with an introductory APR offer, depending on the card you choose.

When evaluating the best Mastercard credit cards, we take into account several factors, including how cards score in our proprietary card rating system and whether they offer features that fit the priorities of a diverse group of cardholders, from earning rewards to scoring a large sign-up bonus to saving on interest. 

We analyzed the most popular Mastercard credit cards and selected standouts that may appeal to people across a range of interests and credit levels. We scored each card based on the factors most relevant to its primary category, including its rewards rate, estimated annual earnings, intro APR period, ongoing APR, perks and more. 

Here are some of the key factors that we considered:  

Have more questions for our credit cards editors? Feel free to send us an email, find us on Facebook, or Tweet us @Bankrate.

For Capital One products listed on this page, some of the above benefits are provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply