Mastercard Credit Cards

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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.

MasterCard Credit Card Comparison

Rates last updated April 29th, 2017.

Emirates Citi World Mastercard

40k bonus points offer extended until 30 June 2017 + 10k bonus points if you meet the minimum spend

December 19th, 2016

Bankwest Qantas World MasterCard

50,000 bonus Qantas points has been discontinued.

January 31st, 2017

Bankwest More World MasterCard

80,000 bonus Qantas Points has been discontinued.

January 31st, 2017

View latest updates

Jonathan Choi Jonathan
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
ANZ Low Rate
Take advantage of 0% p.a. for 16 months on balance transfers and a low ongoing interest rate on purchases.
12.49% p.a. 0% p.a. for 16 months with 2% balance transfer fee $58 p.a. Go to site More info
Bankwest Breeze MasterCard
Enjoy an introductory rate of 0% p.a. on balance transfers for 21 months (2% balance transfer fee applies). Limited time only.
12.99% p.a. 0% p.a. for 21 months with 2% balance transfer fee $59 p.a. Go to site More info
Bankwest Qantas Platinum MasterCard
Enjoy a high credit limit with complimentary travel insurances and earn 0.5 Qantas Points per $1 spent on eligible purchases.
20.49% p.a. 2.99% p.a. for 9 months $160 p.a. Go to site More info
Emirates Citi World Mastercard
Receive up to 50,000 bonus points and enjoy 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
Bankwest More World MasterCard
Enjoy a low balance transfer rate and earn 2.5 per $1 spent on eligible purchases.
19.99% p.a. 2.99% p.a. for 9 months $240 p.a. Go to site More info
Bankwest Qantas World MasterCard
Earn uncapped Qantas Points per $1 spent on eligible purchases. Also enjoy no foreign transaction fees on online and overseas spend.
20.49% p.a. 2.99% p.a. for 9 months $270 p.a. Go to site More info
Commonwealth Bank Business Interest-Free Days Credit Card
Manage your business expenses with up to 55 interest-free days on purchases and an unsecured credit limit of up to $50,000.
17.57% p.a. 5.99% p.a. for 5 months $60 p.a. Go to site More info
Commonwealth Bank Business Gold Awards Credit Card
A business credit card with a range of complimentary insurances and up to 2 Awards points per $1 spent on purchases.
20.74% p.a. 5.99% p.a. for 5 months $150 p.a. Go to site More info
Commonwealth Bank Business Awards Credit Card
Enjoy up to 1.5 Awards points for every dollar spent plus up to 55 days interest-free on purchases.
20.74% p.a. 5.99% p.a. for 5 months $100 p.a. Go to site More info
Commonwealth Bank Business Awards Platinum Credit Card
Earn up to 3 Awards points per dollar spent and enjoy a range complimentary insurances.
20.74% p.a. 5.99% p.a. for 5 months $300 p.a. Go to site More info
Bendigo Bank Basic Black Credit Card
A basic credit card that features low interest rates, low annual fee and up to 44 interest-free days on purchases.
12.24% p.a. $45 p.a. 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.

ANZ Platinum Credit Card - Exclusive Offer
ANZ Platinum Credit Card - Exclusive Offer

Interest rate

19.74

Annual fee

87
St.George Vertigo Platinum
St.George Vertigo Platinum

Interest rate

12.74

Annual fee

99
NAB Low Rate Credit Card
NAB Low Rate Credit Card

Interest rate

13.99

Annual fee

59

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45 Responses to Mastercard Credit Cards

  1. Default Gravatar
    Barbara | April 12, 2017

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

    • Staff
      Jason | April 13, 2017

      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 this link 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

  2. Default Gravatar
    Bob | November 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

  3. Default Gravatar
    Ricardo | November 17, 2016

    Can you please give me a active credit card to shop tomorrow, i love the site is the best

    • Staff
      Anndy | November 17, 2016

      Hi Ricardo,

      Thanks for reaching out.

      Please note that finder.com.au is a financial comparison and information website that helps users make better decisions. We are not a credit card company.

      Generally, if you apply for a credit card online and are approved, it would take around two weeks for you to receive your card through mail.

      Cheers,
      Anndy

  4. Default Gravatar
    Chris | October 28, 2016

    Hi,

    When I use the Platinum card overseas (say USA) what exchange rate is applied to convert the transaction to AUD? What is the transaction cost relative to the prevailing market rate?

    Cheers,

    • Staff
      Anndy | November 2, 2016

      Hi Chris,

      Thanks for your question.

      If you have a Mastercard credit card, the conversion rate that will be used will be that of Mastercard’s. You can find out the conversion rate for the day by visiting Mastercard’s website.

      The transaction costs for using a credit card overseas vary among Mastercard credit cards. When you click the name of the credit card in the above comparison table, you will be redirected to its review page where you can check the ‘Fees & Repayments’ for a particular card.

      I hope this helps.

      Cheers,
      Anndy

  5. Default Gravatar
    | 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

  6. 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

  7. 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

  8. 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

  9. 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

  10. 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

Credit Cards Comparison

Rates last updated April 29th, 2017
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
Earn 2 Velocity Points on top of the standard earn rate per $1 spent within the first three months. Plus, save with a long-term balance transfer offer and a reduced annual fee in the first year.
20.74% p.a. 0% p.a. for 18 months with 1.5% balance transfer fee $64 p.a. annual fee for the first year ($129 p.a. thereafter) 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
ANZ Platinum Credit Card - Exclusive Offer
Receive a low introductory offer of 0% p.a. on purchases for 3 months and 0% p.a. on balance transfers for 12 months. Also, enjoy an annual fee waiver in the first year.
0% p.a. for 3 months (reverts to 19.74% p.a.) 0% p.a. for 12 months $0 p.a. annual fee for the first year ($87 p.a. thereafter) Go to site More info
NAB Premium Card
An introductory rate of 0% p.a. for 24 months on balance transfers combined with premium benefits such as travel insurance covers.
19.74% p.a. 0% p.a. for 24 months with 3% balance transfer fee $90 p.a. Go to site More info

* The credit card offers compared on this page are chosen from a range of credit cards finder.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.

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