Mastercard Standard Credit Card | Credit Card Benefits (2024)

FAQs

What are the benefits of a standard credit card? ›

Standard Mastercards are the entry-level tier, providing basic purchase protections and access to various experiences. Here are the benefits you may get: Zero liability protection: If someone makes unauthorized purchases with your credit card, you won't be held responsible.

The three levels of Mastercard benefits are standard, World, and World Elite. World Elite Mastercard benefits are the best, but even a standard Mastercard provides perks such as a $0 fraud liability guarantee, emergency support, and ID theft protection.

Key Takeaways

Credit cards are plastic or metal cards used to pay for items or services using credit. Credit cards charge interest on the money spent. Credit cards may be issued by stores, banks, or other financial institutions and often offer perks like cash back, discounts, or reward miles.

World Elite Mastercard is the highest tier and as such, cards with this designation carry all the benefits of the Standard and World Mastercards plus are likely to have these additional perks: World Elite concierge.

What's the starting credit limit for a Mastercard Credit Card? The starting credit limit for a Mastercard credit card can be as low as $200, but it will depend on your overall creditworthiness, annual income, and even the card issuer. Mastercard is not a credit card company, it's a credit card network, just like Visa.

How do I get the maximum benefits from my credit card? ›

Although Mastercard and Visa cards are accepted almost everywhere in the globe, Visa cards have a few more advantages. Even with a Visa card at the most basic level, you can access advantages like stolen or lost card reporting, urgent card replacement, emergency cash disbursem*nt, roadside dispatch, and zero liability.

You can check your credit card benefits by accessing the summary of benefits document on your card issuer's website or by calling your card's customer service line.

Mastercard offers diverse health care coverage options for employees and their families. Our array of medical, dental and vision offerings ensure employees and their family members have the resources to protect and improve their health.

Is Mastercard accepted everywhere? Yes, Mastercard is accepted almost everywhere you can use a credit or debit card. Millions of merchants in more than 210 countries and territories take Mastercard.

Setting appropriate Credit Standards is an important element in controlling DSO. Tighter Credit Standards will reduce bad debts and DSO, but may also reduce sales and profitability. You need to find a happy medium where Credit Standards are adequate to support sales and maintain control over DSO.

You are allowed to spend up to a certain amount on the card, called the credit limit. The amount of your credit limit depends on your circ*mstances. Each time you make a purchase using your credit card the amount is added to your account. The total amount you owe is called the balance.

Credit cards offer convenience, consumer protections and in some cases rewards or special financing. But they may also tempt you to overspend, charge variable interest rates that are typically higher than you'd pay with a loan, and often have late fees or penalty interest rates.

Not using a credit card isn't necessarily a bad thing. However, it can come with some unintended consequences. Although charging inactivity fees is no longer legal, issuers have other options at their disposal — some of which could affect your credit score, your available credit and more.