Best Mastercard Rewards Credit Cards

The Mastercard reward points redemption process depends on the card. But keep in mind that rewards points are offered by the credit card issuers, not by Mastercard or any other network. So, cardholders will need to follow the instructions for their specific card issuer’s rewards program. Most of the time, it’s possible to redeem points through the cardholder’s online account, mobile app, or through a dedicated rewards website run by the issuer. It’s also often possible to redeem points over the phone.

How to Redeem Mastercard Points Online

1. Log in to your online account with your user ID and password.
2. Find the accounts page and click the rewards tab.
3. Select your redemption option.
4. Redeem your rewards.

Typically, you can redeem Mastercard reward points for a variety of different things, like cash back/statement credits, travel, gift cards, merchandise, charitable donations, exclusive experiences and more. However, some issuers’ redemption options are more limited than others.

More info regarding Mastercard reward points

It’s important to keep in mind that the value of your points may depend on the redemption option. For example, you might get 1 cent per point toward travel but 0.5 cents per point toward cash back, or vice versa, depending on the card. So if you want to maximize your rewards, you should redeem Mastercard reward points for the options that give you the highest value per point.

It’s also a good idea to redeem often. Issuers have the power to devalue points (make them worth less) at any time, and some points expire after a certain amount of time.

Yes, Mastercard has a rewards program. The Mastercard rewards program does not give points, cash back, or miles, but eligible cardholders may be able to redeem rewards earned from their credit card’s issuer through Mastercard Online Rewards. The redemption options include gift cards, merchandise, travel expenses, and more. Not all Mastercard cardholders are eligible, though. You can check with your card’s issuer directly, or simply try registering your card through Mastercard Online Rewards to see if it’s eligible.

While the Mastercard rewards program doesn’t affect how cardholders earn rewards, it does provide many other perks and benefits. Mastercard’s rewards and benefits program has three levels: Standard, World, and World Elite. The higher the level of your Mastercard, the better the discounts and benefits. But even with Mastercard’s most basic level, cardholders receive a $0 fraud liability guarantee, emergency support and ID theft protection.

Standard Level:

• Zero Liability Protection: Cardholders are protected against fraudulent purchases, so they never have to pay for unauthorized charges.
• Mastercard Global Service: 24/7 global emergency assistance with lost or stolen cards, obtaining emergency card replacements or cash advances, finding ATMs and answering other questions related to the account.   To access this service, just call (800) 307-7309 if in the U.S. or a country-specific toll-free number when you’re abroad. 
• Mastercard ID Theft Protection: Sends alerts whenever suspicious activity is detected and assigns cardholders a resolution specialist to help with issues related with identity theft. You can activate this service through its online portal.

World:

• Standard Level Benefits: Benefits from the Standard level also apply to World cards.
• ShopRunner Memberships: Free two-day deliveries and returns with over 100 online retailers including Brooks Brothers, Saks Fifth Avenue and more.
• Discounts: Free deliveries and discounts with DoorDash and HelloFresh. It also includes Lyft offers which give cardholders credit for taking rides every month.
• Priceless Golf: Exclusive offers and experiences with the PGA Tour and access to Mastercard’s Golf Concierge Services and lessons to sharpen your game.
• Professional Travel Services: Travel advisors help to plan trips 24/7. They can be reached by calling at (855) 802-1387 or by accessing the travel portal.
• Lowest Hotel Rate Guarantee: Booking a prepaid hotel stay through Mastercard World cards and finding that same stay advertised for less before checking in, may get you a refund for the price difference.
• Hotel Stay Guarantee: In case a 3+ star hotel booking made through Mastercard Travel encounters issues, you can contact a designated travel manager to coordinate with the hotel and make things right for you.
• Luxury Hotel Benefits:  Complimentary daily breakfasts, special amenities, room upgrades and early/late check-in/out upgrades can be up for grabs on Mastercard’s travel portal.
• Mastercard Airport Concierge: Savings on airport meet and greet services which provide assistance from agents who escort you through the airport, 24/7.
• Free nights, car, RV and air: Enjoy free nights at partner hotels, status upgrades on car rentals, savings on air and private jets.

World Elite:

• All Standard and World level benefits
• Fandango deals: Get discounts for using their streaming service or buying movie tickets at Fandango. 
• World Elite Concierge: A complimentary 24/7 concierge service that acts as a relentless personal assistant. Reserve that perfect table, locate hard-to-find items and more.

Your level of membership is determined by the card you’re approved for. Even if you’re not the highest level of Mastercard cardholder, you may still get additional benefits from your credit card’s issuer. Mastercard is a credit card network, so the issuer you receive your Mastercard from (such as Citibank, Capital One, or Barclays) will often have additional benefits.

The Mastercard reward points work by offering cardholders rewards for purchases in the form of points. Then, these points can usually be redeemed for travel, merchandise, cash back, or gift cards. However, the points you earn are not determined by Mastercard, but by your credit card issuer (like Capital One or Bank of America). Mastercard is simply a card network (like Visa) that dictates where your credit card can be used. 

Assuming you’re in the market for a Mastercard with reward points, regardless of who exactly is dispensing them, there are several really good options to choose from. The best Mastercard points credit cards are the IHG® Rewards Premier Credit Card and the Citi Premier® Card because they give big initial bonuses and high reward earning rates. But there are others, too.

Here’s how the Mastercard reward points work:

• What they are: Credit card points come from the issuer of your card or the company it’s co-branded with, not card networks like Mastercard.
• How to use them: Typically, you can use Mastercard reward points for a variety of different things, like cash back/statement credits, travel, gift cards, merchandise, charitable donations, exclusive experiences and more. However, some issuers’ redemption options are more limited than others.
• Mastercard Benefits: The closest thing Mastercard has to reward points is special benefits for cardholders. These benefits include travel insurance, purchase protection, extended warranty and access to exclusive events. Mastercard benefits come in three levels: Standard Mastercard, World Mastercard, and World Elite Mastercard.

Here are some of the best Mastercard reward points credit cards:

The Citi Premier® Card offers 80,000 points for spending $4,000 in the first 3 months. You earn 3 points per $1 spent at restaurants, supermarkets and gas stations, 3 points per $1 on air travel and hotels, and 1 point per $1 on all other purchases. There’s a $95 annual fee and you need good credit or better (a credit score of 700+) for approval.

The IHG® Rewards Premier Credit Card offers 140,000 points and 1 free night for spending $3,000 in the first 3 months. You also get 10 points per $1 spent at IHG hotels, 5 points per $1 at gas stations, restaurants and on travel, as well as 3 points per $1 on all other purchases. There’s an annual fee of $99 and you need good credit or better (a credit score of 700+) for approval.

The Citi Rewards+® Card offers 20,000 points for spending $1,500 in the first 3 months. You also get 5 points per $1 spent on restaurant purchases (up to $6,000 in the first 12 months), 2 points per $1 spent at supermarkets and gas stations up to $6,000 spent per year, and 1 point per $1 on all other purchases. The card has a $0 annual fee and you need 1 - 5 points per $1 credit or better (a credit score of 700+) for approval.

Mastercard’s rewards credit cards aren’t all about points. There are also cards with miles like the Citi® / AAdvantage® Platinum Select® World Elite Mastercard® and cash back like the Citi® Double Cash Card – 18 month BT offer. You can check out our editors’ picks for the best Mastercard credit cards and see which best fits your needs. Plus, you don’t have to confine yourself to just one network. Visa’s acceptance is as wide as Mastercard’s, and the best Visa credit cards also bring competitive rewards to the table.

Mastercard rental car insurance covers physical damage or theft of an eligible rental vehicle, as well as loss-of-use charges, towing costs and late drop-off charges. Typically, Mastercard car rental insurance covers up to $50,000 or the price of the vehicle. To be eligible for this coverage, charge the entire car rental bill to your covered Mastercard credit card when you make the reservation and reject the insurance offered by the rental agency. The rental must also be made in your name.

Keep in mind that not all Mastercard credit cards have car rental insurance, and those that have it may not all provide the same coverage. Coverage and availability of secondary credit card benefits are up to the card issuer. It also depends on which tier of Mastercard you have – Standard, World, or World Elite. So, it’s important to review the benefits guide that came with your Mastercard for exact details.

There are some common exclusions to the Mastercard rental car coverage, too. Expensive, exotic, sport utility, or antique automobiles are generally not covered, and some card issuers, such as Citibank and Capital One, exclude trucks of any kind from coverage. Also, if your rental agreement is longer than 15 consecutive days, it’s usually not covered by Mastercard insurance – though some Mastercards cover rentals up to 30 days. Don’t forget that Mastercard car rental insurance is secondary insurance, either. That means it kicks in after your regular car insurance coverage and any other coverage you may have.

To submit a Mastercard car rental insurance claim, call the number in the benefits guide that came with your card within 30, 60, or 90 days of the incident, depending on your Mastercard’s terms. Then, within a certain number of days of the incident, you must submit all requested documentation, which may include a completed and signed claim form, the rental receipt, the credit card statement showing the rental charge, your car insurance declarations page, a police report (if applicable), an itemized repair estimate, and a copy of your driver’s license.