Mastercard Credit Cards

A Mastercard credit card offers you global acceptance, shopping protection and access to exclusive offers.

Updated Jul 13, 2021. What changed?

Fact checked

We’re reader-supported and may be paid when you visit links to partner sites. We don’t compare all products in the market, but we’re working on it!

Name	Purchase rate	Interest-free period	Annual fee	Balance transfer rate
Citi Clear Card - Balance Transfer Offer	14.99% p.a.	Up to 55 days on purchases	$49 annual fee for the first year ($99 p.a. thereafter)	0% p.a. for 28 months	Offers 0% p.a. on balance transfers for 28 months with no balance transfer fee and a discounted $49 first-year annual fee.	Go to site More Info	Compare	loading Fetching your data...
Qantas Premier Platinum	19.99% p.a.	Up to 55 days on purchases	$225 annual fee for the first year ($299 p.a. thereafter)	0% p.a. for 18 months with 1% balance transfer fee	Earn 80,000 bonus Qantas Points when you spend $4,000 in the first 3 months, 80 bonus Status Credits on eligible spend and a reduced first-year annual fee. Ends 29 Sept 2021.	Go to site More Info	Compare	loading Fetching your data...
Westpac Low Rate Card	13.74% p.a.	Up to 55 days on purchases	$0 annual fee for the first year ($59 p.a. thereafter)	0% p.a. for 28 months with 1% balance transfer fee	Save with a $0 annual fee for the first year, plus, a 0% interest rate on balance transfers for 28 months.	Go to site More Info	Compare	loading Fetching your data...
humm90 Mastercard - Balance Transfer Offer	23.99% p.a.	Up to 110 days on purchases	$99	0% p.a. for 36 months	Get 0% interest on balance transfers for 36 months, with no balance transfer fee. Plus, up to 110 days interest free on purchases.	Go to site More Info	Compare	loading Fetching your data...
Westpac Low Rate Card - Cashback Offer	13.74% p.a.	Up to 55 days on purchases	$0 annual fee for the first year ($59 p.a. thereafter)	6.99% p.a. for 12 months	Get $400 cashback when you spend $4,000 on eligible purchases within the first 120 days. Plus, a $0 first-year annual fee.	Go to site More Info	Compare	loading Fetching your data...
Bankwest Zero Platinum Mastercard Finder Award	14.99% p.a.	Up to 55 days on purchases	$0	0% p.a. for 26 months with 2% balance transfer fee	Get 0% p.a. on balance transfers for 26 months (with a 2% BT fee), an ongoing $0 annual fee and 0% foreign transaction fees.	Go to site More Info	Compare	loading Fetching your data...
Bendigo Bank Low Rate Credit Card	0% p.a. for 12 months, reverts to 11.99% p.a.	Up to 55 days on purchases	$45	0% p.a. for 12 months with 2% balance transfer fee	Save with 0% p.a. interest on purchases and balance transfers for up to 12 months, with a one-time 2% balance transfer fee.	Go to site More Info	Compare	loading Fetching your data...
Citi Rewards Card - Balance Transfer Offer	21.49% p.a.	Up to 55 days on purchases	$49 annual fee for the first year ($149 p.a. thereafter)	0% p.a. for 30 months	Save with a $49 first-year annual fee and 0% on balance transfers for 30 months with no balance transfer fee.	Go to site More Info	Compare	loading Fetching your data...
Citi Clear Card - Cashback Offer	14.99% p.a.	Up to 55 days on purchases	$49 annual fee for the first year ($99 p.a. thereafter)	0% p.a. for 15 months	Get $250 cashback when you spend $3,000 in the first 90 days. Plus, free wine when you dine and purchase insurance cover.	Go to site More Info	Compare	loading Fetching your data...
Bankwest Breeze Classic Mastercard	0% p.a. for 15 months, reverts to 9.9% p.a.	Up to 55 days on purchases	$0 annual fee for the first year ($49 p.a. thereafter)	0% p.a. for 15 months	Save with 0% p.a. on purchases and balance transfers for 15 months (with no BT fee). Plus, a $0 first-year annual fee.	Go to site More Info	Compare	loading Fetching your data...
Westpac Altitude Platinum Card	20.49% p.a.	Up to 45 days on purchases	$49 annual fee for the first year ($150 p.a. thereafter)	0% p.a. for 22 months with 1% balance transfer fee	Get 130,000 bonus Altitude Points (worth $450 cashback) when you spend $3,000 in the first 90 days, a 0% balance transfer offer and a $49 discounted annual fee.	Go to site More Info	Compare	loading Fetching your data...
Citi Rewards Card - Points & Gift Card Offer	21.49% p.a.	Up to 55 days on purchases	$49 annual fee for the first year ($149 p.a. thereafter)	0% p.a. for 15 months	Receive 90,000 bonus Citi reward Points (worth $400 in gift cards) and a $100 Coles eGift Card when you spend $3,000 in the first 90 days.	Go to site More Info	Compare	loading Fetching your data...
Bankwest Zero Mastercard	14.99% p.a.	Up to 55 days on purchases	$0	0% p.a. for 26 months with 2% balance transfer fee	Features an ongoing $0 annual fee and an introductory rate of 0% p.a. for 26 months on balance transfers (with a 2% BT fee).	Go to site More Info	Compare	loading Fetching your data...
Citi Premier Card	21.49% p.a.	Up to 55 days on purchases	$150 annual fee for the first year ($300 p.a. thereafter)	0% p.a. for 6 months	Enjoy 130,000 bonus points (worth $450 in eGift cards) when you spend $4,000 within the first 90 days. Plus, a first-year annual fee discount.	Go to site More Info	Compare	loading Fetching your data...
Bankwest Breeze Platinum Mastercard	0% p.a. for 15 months, reverts to 9.9% p.a.	Up to 55 days on purchases	$0 annual fee for the first year ($69 p.a. thereafter)	0% p.a. for 15 months	Get 0% interest on purchases and balance transfers for 15 months, a $0 first-year annual fee and no foreign transaction fees.	Go to site More Info	Compare	loading Fetching your data...

Compare up to 4 providers

Many Australian banks and lenders issue Mastercard credit cards and you'll see its logo on the front of them. By itself, Mastercard does not issue credit cards. Instead, it's the third-party payment processor that allows the card to be used.

Mastercard Credit Card Comparison

There are lots of types of Mastercard credit cards including rewards, balance transfer, frequent flyer, low interest and more. Compare cards based on the features that are most important to you.

What are the benefits of using a Mastercard?

Global acceptance

Mastercard is accepted in hundreds of countries and millions of locations around the world. You can use your Mastercard wherever the Mastercard symbol is displayed, including at ATMs, EFTPOS terminals and online.

Mastercard PayPass

Mastercard PayPass is a contactless payment option that lets you tap to pay for purchases when you're at the shops. With PayPass, you just need to hold the card close to the card reader instead of inserting or swiping it to pay. You also won't need to to enter a PIN if your purchase is under $100 (or $200 during the coronavirus pandemic).

If your credit card issuer supports Apple Pay, Google Pay or another mobile wallet, you could also use your Mastercard credit card for contactless payments from your smartphone. Either way, your payments are kept safe through encrypted data and card reader technology, plus other security features on your card (which we cover in more detail below). Finder's guide to contactless payments has more details about how they work and how secure they are.

Mastercard Priceless Cities

Mastercard Priceless Cities gives you access to a variety of unique and exclusive offers on dining, shopping, entertainment, travelling and even golfing. These offers usually run for a limited time, so check out the Priceless Cities website for the latest deals you can use now.

Mastercard Travel & Lifestyle Services (World Mastercard benefit)

If you have a World Mastercard, you'll get access to this booking service that offers exclusive deals and perks such as complimentary breakfast, room upgrades and late check-out at partnered hotels. Plus, elite membership status with National Car Rental, Avis and Sixt. The Mastercard Travel & Lifestyle Services website has more details on current offers and how the service works.

What are the security features of a Mastercard credit card?

As well as security features offered by your bank or card issuer, some of the options you can get with a Mastercard include:

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.

Mastercard SecureCode

SecureCode is designed to help protect your Mastercard credit card or debit card account from unauthorised transactions by providing an additional layer of security to online payments.

When your card is registered for SecureCode, any transaction you make with a participating merchant will require you to enter a unique code or password before the payment can be processed. You'll usually get the code via a text message to your phone. This helps verify that it is you making the purchase.

Emergency Services

You can contact Mastercard's 24/7 customer service team on 1800 120 113 within Australia. 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.

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. As well as standard purchase or cash advance rates, you can also compare Mastercard products based on any promotional interest rates that can help you cut costs with 0% purchase and balance transfer offers.
  - Credit card issuer. Mastercard products are available through a variety of Australian credit card issuers. As they determine many of the features and fees that come with the card, it's important to consider which company issues the card when comparing your options.
  - Rewards. While Mastercard does not provide a rewards program, you can find several Mastercard credit cards linked to various rewards and frequent flyer programs. This is something you should consider if you're looking to earn points as you spend.
  - Complimentary insurance covers. Some Mastercard products offer complimentary insurance covers including transit accident insurance, interstate flight inconvenience insurance, international travel insurance, purchase cover insurance, and extended warranty insurance.

While Mastercard products offer a variety of benefits, it's important to compare the different products offered by Australian issuers to find the right card for you.

How does a Mastercard credit card transaction work?

When you buy something using a Mastercard, several processes happen in the time between the purchase being made and the transaction showing up in your account (or on your statement).

What you usually see as a customer is the payment terminal or online shopping cart. Behind the scenes, there are three key roles that play a part in the transaction process:

- 1. Merchant bank/acquirer. This is the establishment that is licensed by Mastercard to accept consumer payments on behalf of the merchant. To process a Mastercard transaction, the merchant must establish a relationship with an acquirer.
  2. Card issuer. The issuer is the bank, credit union, government entity, savings and loan association or retailer that issues the Mastercard to the consumer.
  3. Technology and network provider. In this case, the provider is Mastercard.

When you pay with a Mastercard, you go through a process of Authorisation, Clearing and Settlement:

Authorisation	Clearing	Settlement
The following steps occur when a payment is being authorised. While it happens instantly, there is a lot of information exchanged within this process: The customer pays for their goods/services using a Mastercard credit card, debit card or prepaid card at a merchant EFTPOS (electronic funds transfer at point of sale) system. The Mastercard's security features are checked by the Mastercard authorisation system and securely sent for approval to the customer's bank. Approval is then sent by Mastercard to the merchant's bank and to the merchant.	Clearing is usually accomplished within one day and follows three steps: The Mastercard network receives the purchase information sent to them from the merchant's bank. The information is validated by the Mastercard clearing system, which then sends this purchase information over to the customer's bank. Data is then prepared for the cardholder's statement.	Settlement of the purchase usually occurs within two days: Payment is sent from the cardholder's bank to the Mastercard network. Payment is sent from the Mastercard network to the merchant's bank. The merchant is paid by the merchant's bank for the customer's transaction.

Authorisation

Clearing

Settlement

The following steps occur when a payment is being authorised. While it happens instantly, there is a lot of information exchanged within this process:

The customer pays for their goods/services using a Mastercard credit card, debit card or prepaid card at a merchant EFTPOS (electronic funds transfer at point of sale) system.
The Mastercard's security features are checked by the Mastercard authorisation system and securely sent for approval to the customer's bank.
Approval is then sent by Mastercard to the merchant's bank and to the merchant.

Clearing is usually accomplished within one day and follows three steps:

The Mastercard network receives the purchase information sent to them from the merchant's bank.
The information is validated by the Mastercard clearing system, which then sends this purchase information over to the customer's bank.
Data is then prepared for the cardholder's statement.

Settlement of the purchase usually occurs within two days:

Payment is sent from the cardholder's bank to the Mastercard network.
Payment is sent from the Mastercard network to the merchant's bank.
The merchant is paid by the merchant's bank for the customer's transaction.

Does Mastercard charge any fees?

Mastercard does not charge cardholders a fee for using its network.

However, merchant banks/acquirers do pay a fee to card issuers for the benefit of being able to offer electronic payments. This fee is known as an "interchange" fee. This is then charged to the merchant in the form of a merchant discount rate.

While this fee is not charged to the consumer directly, some merchants may choose to offset this fee by applying a surcharge to your card transactions. While usually limited to 1% or 2% of the transaction amount, surcharges will vary depending on the nature of the transaction and the merchant in question.

Some banks or card providers may also charge you fees for using your credit or debit card. However, these fees are unrelated to Mastercard.

So, how does Mastercard make its money?

Mastercard makes money by charging fees to banks and other financial institutions that issue cards with the Mastercard brand. While many of these fees are relatively small, because of Mastercard's large global presence, they add up considerably. In fact, Mastercard's gross net revenue was US$16.9 billion for the 2019 financial year and this is expected to continue increasing.

Mastercard typically charges the following fees:

- - Gross dollar volume fee. A fee based on the gross dollar volume (GDV) of account holder activity.
  - Domestic assessments. These are fees charged to cardholders' and merchants' financial institutions for domestic transactions.
  - Cross-border volume fees. These are fees charged to cardholders' and merchants' financial institutions for international transactions.
  - Transaction processing fees. These are fees charged to merchants' financial institutions for participating in the Mastercard network and for every transaction that's approved.

In most cases, the main relationship you'll have with Mastercard (as a shopper) is through your bank or credit card provider. All of these other processes will simply happen in the background.

What's the difference between Mastercard debit card and credit card payments?

The main difference between how debit and credit card transactions work is that money from a debit card is taken from your personal bank account, whereas money from a credit card is lent to you by a company.

As well as that, there is a difference in the way the payments are processed – but it depends on how you pay.

When you use a debit card, if you select "Cheque" or "Savings" when prompted, your payment will be processed by EFTPOS rather than Mastercard. When you use a credit card, the payment is always processed through the Mastercard system.

However, contactless payments, regardless of whether they are made with a credit card or a debit card, are processed through the credit card system (Mastercard).

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.

History of 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.

Frequently asked questions

SecureCode is an optional, complimentary service that's offered through your bank or credit card provider. In most cases, you can activate and start using SecureCode by following the steps below:
- Go to your card provider's website. This will have a link to SecureCode enrolment for your card or cards.
  Setup your verification method. The most common verification options are SMS codes or passwords. Depending on your provider, you may be prompted to enter your mobile phone number or create a password that you will use for the service.
  Shop online. After completing this process, just look for retailers that display the Mastercard SecureCode logo and begin shopping online.
Note that some financial institutions may automatically enrol you in SecureCode as an added layer of protection. When that's the case, there may be times when your bank will request additional information during the online checkout process to validate your purchase and ensure you are the person making the transaction.
Participating merchants often display the Mastercard SecureCode logo on their website. When you shop with them, you will be prompted to verify your transaction as part of the checkout process.
It's important to note that the information you provide via SecureCode is not shared with the merchant and stays between you and your card provider. Of course, you'll still be able to make purchases with your card at other merchants that accept Mastercard but don't offer SecureCode.
These hotel offers vary based on the type of Mastercard you have and when you're looking for deals. But some of the popular perks you could enjoy include:
- Discounts on your hotel bookings
  Additional nights at no extra charge
  Complimentary breakfast
  Complimentary room upgrades
  Early check-in and late check-out
  Discounts or credit for additional hotel services, such as dining or spa packages
In general, you'll get fewer premium perks through a Mastercard debit card or an entry-level credit card. But if you have a premium Mastercard credit card, such as a Platinum or World Mastercard, you'll have access to more of the high-value offers.
You can search for hotel and other travel offers using the following steps:
- Go to the Mastercard Priceless website and type "hotel" into the search bar.
  Look at offers based on the country or countries where they are available. You can also use filters to narrow dow the results
  Choose an offer you want and follow the steps to redeem it.
If you have a World Mastercard, visit the Mastercard Travel & Lifestyle Services website instead.
Take it further: If you have a Platinum or World Mastercard that offers a concierge service, you could call them and ask about relevant offers based on your travel plans. This might help you save time searching through deals online and figuring out if they are relevant.

Thank you for your feedback!

Amy Bradney-George

twitter linkedin

Amy Bradney-George has been writing about personal finance for more than 13 years – including over 600 articles as a senior writer for Finder. Her work has also appeared in publications including Money Magazine, The Sydney Morning Herald, Financy, ABC News Australia and Equity Magazine. Amy has a Bachelor of Arts in Journalism and Drama from Griffith University.

Can I pay my credit card bill in parts?Credit Card Fees 2021

Ask an Expert

Click here to cancel reply.

Display Name

Your Email (will not be published)

Your Question

Subscribe me to Finder’s free weekly newsletter for budgeting tools, timely news and savings essentials to take control of your finances

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use, Disclaimer & Privacy Policy and Privacy & Cookies Policy.

51 Responses

bertgMarch 30, 2018

I need to cancel my MasterCard and get an email confirming this, I note ,there is NO repeat NO email address for this .

finder Customer Care

JeniMarch 30, 2018Staff

Hi Bertg

Thank you for getting in touch with finder.
For any card cancellation request, you must either call or visit the bank issuer of your MasterCard. You may ask them to send you the email about this request as well.

I hope this helps.

Have a great day!

Cheers,
Jeni

EliasDecember 26, 2017

Hi I am looking for Platinum MC with rewards and no interest on balance transfer and no international transaction fee with complimentary Travel Insurance can you suggest few for me thanks

finder Customer Care

RenchDecember 27, 2017Staff

Hi Elias,

Thanks for your inquiry. Please note that we are not affiliated with any company we feature on our site and so we can only offer you general advice.

You can also have a look on these pages and compare your options:
https://www.finder.com.au/what-is-the-best-credit-card-complimentary-travel-insurance

https://www.finder.com.au/no-fee-balance-transfer-credit-cards

You may click the name of your preferred card to know more details and you may click the green “Go to site” button to submit an online application through their official site.

Cheers,
Rench

ZhiAugust 19, 2017

I have a Westpac Earth platinum Master card. Does it come with free travel insurance?

ArnoldAugust 19, 2017

Hi Zhi,

Thanks for your inquiry.

Yes, your Westpac Earth Platinum Card comes with complimentary travel insurance, but I’m afraid that the policy does not include cruise cover. Thankfully, you can compare travel insurance and find the right policy that comes with cruise cover. You might like to compare travel insurance options which include cover for cruises.

Hope this information helped.

Cheers,
Arnold

BarbaraApril 12, 2017

How do I find out if my Woolworths Rewards Card is connected to my Qantas Frequent Flyer account?

finder Customer Care

JasonApril 13, 2017Staff

Hi Barbara,

Thank you for your enquiry.

You may check online if your Woolworths Rewards card is linked to your Qantas Frequent Flyer account by signing into your Woolworths Rewards account, select ‘My Account’ in the top right corner, then ‘Cards & accounts’ and scroll down to check your linked Qantas Frequent Flyer account.

Please check out our website for a guide on how to link your Woolworths Rewards card to your Qantas Frequent Flyer account, if you have not linked the two accounts yet.

I hope this helps.

Kind regards,
Jason

BobNovember 23, 2016

Can you tell me if any master card have rewards or frequent flyer points please? I have 2 visa cards which both have rewards and woulike a MC to replace my Amex card.
Thank you for your time with this email
Regards Bob

finder Customer Care

DeeNovember 23, 2016Staff

Hi Bob,

Thanks for your question.

You may want to check out Emirates Citi World MasterCard Review and Bankwest Qantas Platinum MasterCard for more details.

Cheers,
Anndy

Mastercard Credit Cards

A Mastercard credit card offers you global acceptance, shopping protection and access to exclusive offers.

Compare up to 4 providers

Cards from

In this guide

Card Types

Mastercard Credit Card Comparison

What are the benefits of using a Mastercard?

Global acceptance

Mastercard PayPass

Mastercard Priceless Cities

Mastercard Travel & Lifestyle Services (World Mastercard benefit)

What are the security features of a Mastercard credit card?

Zero Liability

Mastercard SecureCode

Emergency Services

How can I compare Mastercard credit cards?

How does a Mastercard credit card transaction work?

Authorisation

Clearing

Settlement

Does Mastercard charge any fees?

So, how does Mastercard make its money?

What's the difference between Mastercard debit card and credit card payments?

History of Mastercard

Frequently asked questions

How can I apply for a Mastercard credit card?

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

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

How can I make repayments?

Who can use Mastercard SecureCode?

How do I know if a merchant participates in SecureCode?

What hotel benefits can I get with a Mastercard?

Where can I find Mastercard hotel offers?

Amy Bradney-George

Ask an Expert

51 Responses

Important information about this website