Santa Claus comes around just once a year. In the meantime, there are Credit Cards.
  • MasterCard Credit Card

    Mastercard is a global financial services organisation with its headquarters in the USA. Its primary business is to process financial transactions carried out with debit and credit cards issued by a wide range of banks and other financial institutions. It acts as a payment settlement and clearing house for digital transactions.

    Best Mastercard Credit Cards in India 2023


    What is Mastercard Network?

    In simple terms, Mastercard is an organization that facilitates payments carried out with credit and debit cards between the banks of merchants and the issuing banks of the cards.

    Mastercard works as a settlement network for the card issuers and charges a small portion of the transacted amount as the payment processing fee. Also, the payments carried out through the Mastercard network are secured with an additional online security level.

    Types of Mastercard Cards

    • Standard Mastercard: The Standard variant of Mastercard is best for everyday purchases including stores, online, and hotels.
    • Platinum Mastercard: The Platinum Mastercard cards enjoy worldwide acceptance and add to your experience of availing the best of lifestyle services and choices.
    • World Mastercard: The World Mastercard cards also offer worldwide acceptance and a host of attractive travel-specific and other category benefits.

    Acceptance of Mastercard Credit Cards

    Mastercard is one of few payment networks that enjoy worldwide acceptability across multiple payment categories and connects consumers, financial institutions, businesses, merchants, governments in over 200 countries.

    How to Apply for a Mastercard Credit Card?

    You can visit the Mastercard website and then check out the credit cards that it is offering by clicking on the credit cards options. You would also have to select the bank whose credit card you want to use.

    You can also apply for a Mastercard credit card on the BankBazaar website. The process it offers is extremely easy and impressively fast. You can also upload the documents that the bank asks for while applying for the card.

    • To apply for a Mastercard card, first check out the list of the cards on this BankBazaar page and click the 'Check Eligibility' option that you see next to your desired card.
    • Check you eligibility by entering the details asked for.
    • Next, on the online application page, provide the required details and click on 'Submit'.
    • Now upload the documents that it asks for and click on 'Submit'.
    • The application ID shared with you on submission of the application form and the documents can used to 'Track your application'.

    How many Mastercards are available in the market?

    Because Mastercard is one of the major online payment processing networks, it has tie-ups with almost all the major card issuing banks and financial organizations. You would easily find a host of Mastercard credit cards offered by different banks for all popular categories like travel, dining, lifestyle, rewards, etc.

    Mastercard Credit Card Offers

    Different Mastercard credit cards have different offers spread across diverse categories. For instance, the travel Mastercard credit cards offer attractive travel benefits in the form of special discounts and cashback on hotels and travel ticket bookings.

    Similarly, dining credit cards have tempting offers at participating restaurants and online food ordering apps. Shopping cards offer multiple shopping benefits. Check out the entire list of credit card offers that you can enjoy with Mastercard.

    Mastercard Vs. Visa

    Like Mastercard, the American company Visa is another big name among the organizations that provide technology to process transactions. In fact, Visa is a competitor of Mastercard and enjoys an impressive share of the online transactions market.

    Although the difference between the two isn't vast, there are certain distinct areas, particularly in terms of offers, in which they differ from each other. Some of the offer categories where they differ from each other are hotels, travel ticket bookings, etc.

    Another important fact is that certain Visa credit cards offer a better 'Loss of Use' for car rentals. On the other hand, Mastercard cards provide better cost protection service. This implies that if you purchase an article a Mastercard card and the retailer cuts down its price within 60 days of your purchase, the difference would be refunded by Mastercard.

    Mastercard Vs. Rupay

    Rupay is India's answer to the global digital payment processing companies like Visa and Mastercard. Essentially, it performs the same role of payment facilitator between the customer's bank and the merchant's bank.

    However, the primary difference is that the payment data involved in the transactions are retained within the country in domestic servers.

    Also, Rupay charges comparatively less per transaction than the charges of Visa and Mastercard. Also, being an Indian product, there are several tempting offers on Rupay on categories like fuel, hotel bookings, train ticket bookings, etc.

    Difference between Mastercard Credit Card and Mastercard Debit Card

    The primary differences between a Mastercard Credit Card and a Mastercard Debit Card are listed below.

    • Line of credit: While a Mastercard credit card offers you a line of credit that can be availed with the card, a debit card doesn't offer any credit but is linked to your current or savings account which gets debited.
    • Interest-free period: Mastercard credit cards generally offer you an interest-free period of 45-55 days depending on the transaction date with respect to the billing cycle and the issuing bank. Because there is no concept of credit in using a Mastercard debit card, there's no interest-free period involved.
    • Credit history: Because credit is involved in using a Mastercard Credit Card, you can use it to build a solid credit history for yourself. This is not true in case of debit cards.

    FAQs on MasterCard Credit Card

    1. Can I apply for a MasterCard credit card on the official website of MasterCard?

      No, you cannot apply for a MasterCard credit card on the official website of MasterCard. You can, however, check the list of financial institutions which provide MasterCard credit cards. You can then visit the website of these lenders and check the offers. If the offers and benefits suit your requirements, you can easily go ahead and apply for a MasterCard credit card.

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

      In case you lose your MasterCard credit card or if it gets stolen, then you will have to immediately get in touch with the bank who issued the credit card to you. The bank will then block the credit card to ensure it does not get misused. You can then either apply for a duplicate credit card or close that credit card account and apply for a new one.

    3. What are the benefits offered by MasterCard credit card?

      The benefits offered by a MasterCard credit card will depend on the type of MasterCard credit card you have applied for. It is always recommended you get in touch with the bank in order to know more about the benefits offered by MasterCard credit card issued by them.

    4. How do I know if my chip card has Mastercard contactless?

      If your MasterCard credit card is contactless then the word ‘Contactless’ will be mentioned on your card. On some cards the symbol for contactless is also mentioned. You can simply use your contactless credit card to make payments at merchants who accept contactless payment.


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