Mastercard Credit Cards

mc-logo

Consumers can get different kinds of credit cards associated with MasterCard. All these cards find global acceptance and come with a range of other benefits.

A large number of credit card issuers in Australia provide credit cards that come with a MasterCard connect. MasterCard, by itself, is not a issuer of credit, but functions as a third party payment processor.

It is not very different from its main competitor, Visa, given that credit cards affiliated with both find acceptance in most countries around the world.

The kind of MasterCard that is right for you depends on your particular requirements, and if you don’t pay attention to key aspects, you could end up regretting your choice. This is simply because MasterCard features with tend to have a bearing on the interest and fees you end up paying.

History of MasterCard

MasterCard began operations in the late 1940s, at a time when a number of American banks gave their customers specially issued paper that they could use in the form of cash at local establishments. MasterCard issued its first batch of credit cards in California, to serve as direct competition to the Bank of America card that later went on to become Visa.

With time, a number of franchises evolved in several cities, and in 1966, one such group formed the Interbank Card Association (ICA). No single bank dominated the running of this organisation, and member committees came into effect for this very purpose. ICA went on to become MasterCard in 1979.

MasterCard in Australia

By the late 1960s ICA started spreading its wings outside the US, and its initial affiliations were with Banco Nacional in Mexico and the European Eurocard. Japanese members entered the picture in the same year. By the late 1970s, it had members from Japan and Africa. A further expansion in the 1980s saw it entering Asia, Latin America, and Australia.

As of now, MasterCard has over 30 offices around the world, with a particularly strong presence in the Asia Pacific region. Its Australian headquarters is in North Sydney, NSW. The ‘big four’ banks all offer credit cards affiliated to MasterCard, as do a number of other smaller and regional banks.

ME Bank frank Credit Card

MasterCard Credit Card Offer

The ME Bank frank MasterCard features a low interest rate on purchases and charges no annual fee.

  • $0 p.a. annual fee
  • 11.99% p.a. on purchases
  • Cash Advance Rate of 11.99% p.a.
  • Up to 55 days interest free
  • Minimum Income Requirement of $25,000 p.a.

MasterCard Credit Card Comparison

Rates last updated September 26th, 2016.

ANZ Low Rate

This balance transfer offer has been extended by ANZ for the foreseeable future.

January 13th, 2016

Emirates Citi World MasterCard

Replace bonus points offer with up to 10% off on Emirates flights until 31 December 2016

April 29th, 2016

Commonwealth Bank Business Platinum Awards credit card

First year annual fee waiver has been extended until 31 October 2016.

September 2nd, 2016

View latest updates

Jonathan Choi Jonathan
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
ME Bank frank Credit Card
A low rate credit card that doesn't charge an annual fee.
11.99% p.a. $0 p.a. Go to site More info
ANZ Low Rate
Save with low interest rate on purchases and balance transfer offer.
13.49% p.a. 0% p.a. for 18 months with 3% balance transfer fee $58 p.a. Go to site More info
28 Degrees Platinum MasterCard
No annual fee to pay ever and up to 55 days interest-free on purchases.
21.99% p.a. 4.99% p.a. for 6 months $0 p.a. Go to site More info
Emirates Citi World MasterCard
Enjoy up to 10% off Emirates flights on your first spend when you book before 31 December 2016. Also pay a reduced annual fee for the first year.
20.99% p.a. 0% p.a. for 9 months $149 p.a. annual fee for the first year ($299 p.a. thereafter) Go to site More info
Commonwealth Bank Business Platinum Awards credit card
Earn up to 3 Awards points per dollar spent, enjoy complimentary insurances and $0 annual fee for the first year.
20.74% p.a. $0 p.a. annual fee for the first year ($300 p.a. thereafter) Go to site More info

What types of credit cards can I get with MasterCard?

MasterCard has also issued a new card called the MasterMoney account in the United States. This is an innovative card that combines features of both a debit card and a credit card. It is likely to be launched in Australia soon.

  • ANZ Low Rate – Low Interest Credit Card
  • Bankwest Breeze MasterCard – Low Interest Credit Card
  • Bankwest Breeze Gold MasterCard – Prestige Credit Card
  • BankWest Zero MasterCard – No Annual Fee Credit Card
  • BankWest More MasterCard – Rewards Credit Card
  • BankWest More Gold MasterCard – Rewards Credit Card
  • BankWest More Platinum MasterCard – Rewards Credit Card
  • Bendigo Basic Black MasterCard – Low Interest Credit Card
  • Bendigo Red MasterCard – Credit Card
  • Emirate Citibank World Mastercard – Credit Card
  • Coles No Annual Fee Mastercard – Credit Card
  • Coles Rewards Mastercard – Credit Card
  • Commonwealth Bank Low Rate MasterCard – Low Interest Credit Card
  • Commonwealth Bank Awards MasterCard – Rewards Credit Card
  • Commonwealth Bank Gold MasterCard – Rewards Credit Card
  • Commonwealth Bank Platinum MasterCard – Rewards Credit Card
  • Commonwealth Bank Student MasterCard – Student Credit Card
  • Latitude Low Rate MasterCard – Low Interest Credit Card
  • Latitude MasterCard – Credit Card
  • Latitude ‘GO’ MasterCard – Rewards Credit Card
  • Latitude Coles MasterCard – Rewards (Petrol) Credit Card
  • Latitude Coles Platinum MasterCard – Rewards (Petrol) Credit Card
  • ME Bank frank MasterCard – Low Interest Credit Card

What are the benefits of using a MasterCard?

    • Emergency Services

You can contact MasterCard’s round-the-clock Emergency Services from just about anywhere in the world, and can seek assistance in various matters. This service can help you with the reporting of lost or stolen cards, it can provide emergency replacement cards and cash advances, it can help you find the nearest MasterCard or Cirrus ATM, and it can provide information related to your account.

    • MasterCard World

This platform is for select MasterCard cardholders, and it provides access to a variety of unique and exclusive experiences ranging across realms like dining, shopping, partying, travelling, and golfing.

    • MasterCard Priceless Cities

This platform gives MasterCard cardholders the ability to experience and savour different cities from around the world, and works as a guide in directing you to local gems, iconic landmarks, museums, food haunts, and more.

    • MasterCard Priceless Music

Through Priceless Music, MasterCard cardholders get the ability to watch some of Australia’s and the world’s finest musicians perform live. MasterCard makes this possible through a number of exclusive performances in Melbourne and Sydney. Competitions on this platform give fans the opportunity to enjoy all-expense-paid trips to events like the Lollapalooza festival and the UK Brit Awards.

    • MasterCard Privileges

Through the MasterCard Privileges program you get access to a range of travel and retail offers, which include Australian and international offers. These offers can lead to savings in hotel rooms, car rentals, and shopping.

    • Currency conversion

When you use your MasterCard overseas, you don’t have to worry about making confusing currency conversion calculations. When you use your MasterCard to make a payment, it pays the merchant in the local currency, and bills you in Australian dollars.

What are the features of a MasterCard credit card?

  • Global acceptance. MasterCard credit cards find acceptance in most countries and territories around the world, and you can use your MasterCard at any ATM or EFTPOS terminal that displays the MasterCard symbol. Bear in mind, though, that international transaction fees might apply.
  • Easy access to funds. While you can use your MasterCard to make in-store, online, and over the phone purchases, you can also use it for cash advances at ATMs and supporting financial institutions.
  • MasterCard PayPass. Just about all newly issued MasterCard credit cards make use of this technology that enables cardholders to make contactless payments for purchases under $100. This depends on whether or not the merchant in question supports this technology.
  • MasterCard SecureCode. This online program provides additional security when your credit card details make it to the online marketplace, minimising the possibility of unauthorised usage. Close to 600,000 online merchants support transactions made using SecureCode.
  • Zero Liability. MasterCard’s Zero Liability policy protects cardholders from unauthorised and fraudulent charges made using their cards. You can receive protection though this policy if you meet certain criteria, which include exercising due diligence in keeping your card safe, and reporting theft, loss, or unauthorised use as soon as you find out.

How can I compare MasterCard credit cards?

  • Fees. The fees you end up paying depend on the credit card issuer you choose to go with as well as the card you get. While a basic no-frills MasterCard might require you to pay little or no annual fees, you might have to pay a noticeably higher annual fee if you get a gold or platinum MasterCard.
  • Interest rate offers. Certain MasterCard credit card issuers offer promotional interest rates from time to time. These interest rate offers can apply on balance transfers and purchases, and their time duration can vary from six to 12 months, or more.
  • Credit card issuer. This aspect can play a role in different ways. Many MasterCard credit card issuers give you the ability to access account related information online, but not all do. Not all have equally extensive ATM networks and ATM network partnerships, and not all provide the same levels of customer service.
  • Rewards. While MasterCard does not provide a rewards program, you can find several MasterCard credit cards linked to various reward programs. While you can look forward to earning reward points that you can redeem for different kinds of products and services, you can also get a MasterCard that is linked to a frequent flyer program.
  • Complimentary insurance covers. Getting a platinum or premium credit card, in all likelihood, brings with it a range of complimentary insurance covers which can include transit accident insurance, interstate flight inconvenience insurance, international travel insurance, purchase cover insurance, and extended warranty insurance.

If you plan to use your new credit card when travelling overseas, getting a MasterCard makes sense given its widespread acceptance. If you’re not looking for too many features, consider getting a low rate card, and if you want to make the most of your card you can look for one with extras like complimentary insurance covers and rewards. Don’t forget, though, that added features tend to result in increased fees and hiked interest rates.

Frequently asked questions

How can I apply for a MasterCard credit card?

Check with your bank if it provides a MasterCard credit card, or simply through the plethora of options online. Conducting an online search gives you an easy means to compare your options.

How long does it take to apply and how soon will I receive my card?

If you begin the application process with all the required information nearby, the application should take no more than a few minutes to complete. After the card issuer approves your application, it can take up to 10 business days for you to receive your card.

What eligibility criteria to I have to meet to apply for a MasterCard?

You should be at least 18 years old, a permanent resident of Australia, and will need to have a good credit history.

How can I make repayments?

This depends on the credit card issuer, and your options can include direct debits, cash, cheques, BPAY, and Australia Post outlets.

Do MasterCard credit cards offer interest-free days on purchases?

You can, in all likelihood, make use of a given number of interest-free days on purchases by paying your account’s closing balance in full each month. The exact number of interest-free days on offer can vary from one card issuer to the next.

Was this content helpful to you? No  Yes
American Express Essential Credit Card
American Express Essential Credit Card

Interest rate

14.99

Annual fee

0
More info
ME Bank frank Credit Card
ME Bank frank Credit Card

Interest rate

11.99

Annual fee

0
More info
HSBC Platinum Credit Card
HSBC Platinum Credit Card

Interest rate

19.99

Annual fee

149
More info
ANZ First Visa Credit Card - Exclusive Offer
ANZ First Visa Credit Card - Exclusive Offer

Interest rate

19.74

Annual fee

30
More info
Back to top

Read more on this topic

Ask a Question

You are about to post a question on finder.com.au

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Disclaimer: At finder.com.au we provide factual information and general advice. Before you make any decision about a product read the Product Disclosure Statement and consider your own circumstances to decide whether it is appropriate for you.
Rates and fees mentioned in comments are correct at the time of publication.
By submitting this question you agree to the finder.com.au privacy policy, receive follow up emails related to finder.com.au and to create a user account where further replies to your questions will be sent.

37 Responses to Mastercard Credit Cards

  1. Default Gravatar
    Roy | September 25, 2016

    Hi,

    Why the Citibank CC is not available in your list?

    • Staff
      Debbie | September 26, 2016

      Hi Roy,

      Thanks for your question.

      Most of the available Citibank credit cards are Visa so we’ve listed some of them under our Visa credit cards comparison page.

      Although we cover a wide range of products, providers and services we don’t cover every product, provider or service available in the market so there may be other options available to you.

      If you would like to see how Citibank compares, you can see review and comparison page for Citibank.

      I hope this helps.

      Cheers,
      Debbie

  2. Default Gravatar
    William | January 9, 2016

    How do I report a lost Mastercard

    • Staff
      Ysa | January 9, 2016

      Hi William,

      Thanks for your inquiry.
      You can contact MasterCard’s round-the-clock Emergency Services to report any lost or stolen cards.
      I’ve emailed you the relevant contact details for your convenience.
      I hope this helps.

      Cheers,
      Ysa

  3. Default Gravatar
    felix | September 23, 2015

    i might have given out my master card front face information to unknown person. please advice on what to do

    • Staff
      Jonathan | September 24, 2015

      Hi Felix, thanks for your inquiry!

      In the event that your card information may have been compromised, it would be recommended to contact your bank as soon as possible to replace your credit card’s number and information.

      Cheers,

      Jonathan

  4. Default Gravatar
    Sheila.harris | August 20, 2015

    What kind of credit score do you have to have to apply

    • Staff
      Sally | August 20, 2015

      Hi Sheila,

      The eligibility requirements and required credit score will vary from card to card.

      Also, most credit card issuers don’t provide a set credit score under their eligibility requirements as they take this into account in conjunction with a number of other factors.

      If you have a particular card in mind, you may benefit from contacting the issuer directly to speak with a member of their customer service team to confirm your options.

      Our pages on how to check your credit score online or how to improve your credit score could be of interest as well.

      I hope this has helped.

      Thanks,

      Sally

  5. Default Gravatar
    Christine | June 9, 2015

    Why can’t I make a general transaction with my GE MasterCard when I have my own money in the account?

    • Staff
      Jonathan | June 10, 2015

      Hi Christine, thanks for your inquiry!

      Please note that finder.com.au is a comparison service and is not directly affiliated with Latitude Financial Services. It would be best to contact them in regards to your account and general transaction query. I have sent the contact details to your email.

      Cheers,

      Jonathan

  6. Default Gravatar
    F | May 3, 2015

    How do I get a balance on my Ignite Credit Card?

    • Staff
      Jonathan | May 4, 2015

      Hi F, thanks for your inquiry!

      Checking your balance can be completed by registering for a Westpac personal credit card account. Please refer to the link I have sent to your email to apply.

      Cheers,

      Jonathan

  7. Default Gravatar
    selina | May 1, 2015

    How do I compare the 55 Day Wespac Mastercard with the 28Degrees mastercard?

    • Staff
      Jonathan | May 1, 2015

      Hi Selina, thanks for your inquiry!

      Please refer to this page for comparing these credit cards.

      Cheers,

      Jonathan

  8. Default Gravatar
    mohammad | April 6, 2015

    I do not have a good credit is it going to be approved? Thanks, Mohammad

    • Staff
      Jonathan | April 7, 2015

      Hi Mohammad, thanks for your inquiry!

      Please note that each bank/ lender has individual lending policies. If you are not sure about your current credit rating/ standing, you can request a copy of your credit file to assess any outstanding debts or records. Please refer to the following link for more information on receiving a copy of your free credit report.

      Cheers,

      Jonathan

  9. Default Gravatar
    kathryn | March 14, 2015

    I have a gift card with Woolworths money on it as well a Mastercard, how do I find the balance

    • Staff
      Jonathan | March 16, 2015

      Hi Kathryn, thanks for your inquiry!

      Please see this page for checking your balance on Woolworths Money prepaid cards. The information is provided in the FAQ section.

      Cheers,

      Jonathan

  10. Default Gravatar
    kathryn | March 14, 2015

    I have a gift card of master card with woolworths money . how do I find value left

    • Staff
      Jonathan | March 16, 2015

      Hi Kathryn, thanks for your inquiry.

      Please see the FAQ section on this page which will provide the information you are looking for.

      Cheers,

      Jonathan

Credit Cards Comparison

Rates last updated September 26th, 2016
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
Enjoy a 0% p.a. balance transfer offer for 18 months and also earn 2 bonus Velocity Points in the first 3 months on everyday spend.
20.74% p.a. 0% p.a. for 18 months $64 p.a. annual fee for the first year ($129 p.a. thereafter) Go to site More info
ME Bank frank Credit Card
Enjoy a low and consistent interest rate on purchases and cash advances, combined with no annual fee.
11.99% p.a. $0 p.a. Go to site More info
St.George Vertigo Visa
Introductory offer of 0% p.a. for 18 months on balance transfers and 1% p.a. for 12 months on purchases, plus a low annual fee.
1% p.a. for 12 months (reverts to 13.24% p.a.) 0% p.a. for 18 months $55 p.a. Go to site More info
HSBC Platinum Credit Card
Receive a full annual fee refund and save $149 if you meet the $6,000 spend requirement. Enjoy a balance transfer offer and platinum card benefits such as complimentary insurances and concierge services.
19.99% p.a. 0% p.a. for 15 months $149 p.a. Go to site More info

* The credit card offers compared on this page are chosen from a range of credit cards CreditCardFinder.com.au has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing cards.

Ask a question
feedback