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MasterCard Credit Card

Master credit card of Banks

Last Updated 18th Jun 2021

BankMasterCard Credit Cards
ICICI Bank Coral Card, Diamant Card, Emeralde Credit Card, HPCL Platinum Card, Platinum Chip Credit Card, Unifare Metro Cards
SBI PRIME, Tata Platinum Card, Unnati Credit Card , Yatra Card
HDFC Bank Doctors Superia Card, Freedom Card, Jet Privilege HDFC Bank World Card, Jet Privilege Platinum Card, Platinum Times Card, Superia Card
Axis Bank Flipkart Axis Bank Credit Card, Insta Easy Card, Miles and More Card, My Choice Card, My Wings Card, Platinum Card, Titanium Smart Traveler Card
Citibank Cashback Card, First Citizen Titanium Card, IndianOil Titanium Card, PremierMiles Card
Standard Chartered Bank Emirates Platinum Card, Super Value Titanium Card, Visa Infinite Card

What is a Mastercard?

Mastercard, also known as Mastercard Corporation, is a global financial services organisation based in the UK. It is the second-largest payment network, ranked behind Visa, in the global payments industry. Mastercard was initially known as Interbank and Mastercard and later changed its name to MasterCard. Its primary purpose is to process financial transactions with debit and credit cards of different financial institutes.  

Types of Mastercard Card

A MasterCard credit card is just like any other credit card. It is issued to the people who have high creditworthiness after checking their credit report. Mastercard is of four types:

  • Standard Mastercard: Mastercard of this variant is suitable for everyday purchases, including stores, online, and hotels. Standard Mastercard is also an important tool to build a credit history.
  • Gold Mastercard: This Mastercard is designed to increase the purchasing power and offer more rewards on everyday spending. It also provides free travel assistance, travel accident insurance and roadside assistance. Further, the cardholder is also offered access to deals on shopping, dining and entertainment, and rewards and discounts on airfare, hotels and car rentals.
  • Platinum Mastercard: This Mastercard variety enjoys worldwide acceptance and offers a host of attractive benefits and rewards on travel and lifestyle.
  • World Mastercard: World Mastercards offers unique travel experiences and gives you preferred access to our most exclusive offers. This variant of Matercard provides cardholders with discounts on vacation packages, travel upgrades and savings on golf, spas, dining, and entertainment.

How to apply for a Mastercard credit card?

Before applying for a Mastercard, you must research about the Master credit card issuers’ facilities. After selecting the suitable Mastercard, you can visit the official website of the Mastercard and can apply for the same.
You can also apply for the Mastercard through MyLoanCare; the steps are as follows.

  • Go to the Credit Card section of MyLoanCare website.
  • Fill the details include the name, city, mobile number, net monthly income, existing card details if any and others.
  • Click on 'Get Quote'.
  • An OTP will be sent to the number you entered. Enter the OTP.
  • You will be provided with multiple credits cards you are eligible for. Select the Master credit card; you want to apply.
  • The bank representative will reach your place, verify the documents, and complete all the formalities. After that, a Mastercard credit card will be provided to you.

Best Mastercard Credit Cards of 2021

Top Mastercard Credit cards of 2021 are as follow:

Mastercard Credit Cards Name CategoryAnnual Fee
Cashback Card Shopping ₹ 500
Coral Card Lifestyle Nil
Emeralde Credit Card Lifestyle ₹ 12,000
Flipkart Axis Bank Credit Card Shopping Nil
HPCL Platinum Card Fuel Nil
IndianOil Titanium Card Fuel ₹ 1,000
Insta Easy Card Low Fee Nil
Jet Privilege HDFC Bank World Card Travel and Airline ₹ 2,500
Platinum Card Low Fee ₹ 500
Platinum Chip Credit Card Low Fee Nil
Platinum Times Card Lifestyle ₹ 1,000
PremierMiles Card Travel and Airline ₹ 3,000
Super Value Titanium Card Cashback ₹ 750
Unnati Credit Card Rewards Nil
Yatra Card Travel and Airline ₹ 499

Benefits and Features of MasterCard credit card

Benefits and Feature of MasterCard Credit are as follow:

  • Mastercard Credit card offers coverage for the cardholder, spouse, and dependent children under 18 against accidental death.
  • An individual can join the Fuel Rewards Network to receive rewards in the form of discounts on gas purchases from participating gas stations.
  • If a newly-bought item is advertised for a lower price within 60 days of purchase, reimbursement may be awarded for the price difference.
  • It also provides airport lounge access.

Difference between Mastercard Credit Card and Mastercard Debit Card

Basis of DistinctionMastercard Credit CardMastercard Debit card
Line of creditOffers creditDoes not offer credit
Interest-free period 45-55 daysNo interest-free period concept
Credit history Helps in building a credit scoreNo credit score check required

Mastercard Vs. Visa

American company Visa is a competitor of MasterCard and provides technology to process transactions. Some of the distinctions between Mastercard and Visa card are:

Basis of DistinctionVisaMastercard
Global transactions 37 billion 24 billion
World wide acceptance Around 33 millions merchants Around 33 millions merchants
Market share 49%32%
Tiers
  • Standard Visa
  • Visa Signature
  • Standard MasterCard
  • World Mastercard
  • World Elite MasterCard

Mastercard Vs. Rupay

  • MasterCard is an International System debit card whereas RuPay Card is an Indian Domestic Debit Card.
  • The service cost charged in the Mastercard is higher than the Rupay card. Since every transaction through RuPay will occur within India, the banks will have to pay fewer service charges to the payment gateway compared to Visa, MasterCard.
  • Banks are required to pay quarterly charges for Mastercard, whereas no such charges are levied on the Rupay card.
  • Rupay offers only debit cards, whereas Mastercard offers both debit and credit cards.

FAQs

What is the best credit card for Mastercard?

The most preferred Mastercard credit card is Insta Easy Card, Coral Card, HPCL Platinum Card, Platinum Chip Credit Card, Flipkart Axis Bank Credit Card, Unnati Credit Card as there is no annual fee on this card.

What should I do if I lose my MasterCard credit card?

You can call the customer care number of your issuer’s branch if you lose the credit card and report the issue. Follow up with the issuer for your lost credit card and keep a track on your credit card statement. You can also ask the issuer to block your card to avoid any kind of misuse.

Which bank provides a Mastercard?

Multiple banks provide Mastercard, like HDFC Bank, ICICI Bank, SBI, and Axis Bank.

How do I unblock my Mastercard?

You can unblock your Mastercard by either sending calling the customer care, sending an SMS, using net banking, mobile application, or visiting the bank branch.

What are the benefits offered by MasterCard credit card?

The benefits offered by Mastercard credit cards may vary in card issuers. Some of the most common benefits are insurance coverage, high travel and lifestyle rewards, fuel rewards, airport lounge access, etc.

What credit score is needed for a Mastercard?

Any score above 650 will act as a good credit score for applying for a Mastercard.


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*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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