The 14 Best Mastercard Credit Cards for Points & Rewards [2023]

If your credit card boasts a Visa or Mastercard logo, you can have confidence knowing your card will be widely accepted throughout the world.

And while Visa and Mastercard are both brands that are recognized globally, these companies do not actually issue credit cards, but rather serve as payment processors that facilitate the purchases you make with your affiliated card.

Visa and Mastercard credit cards are actually issued by financial institutions, and that’s where the majority of benefits found on your card are derived.

For this reason, Visas and Mastercards end up being issued with varying levels of features and benefits. We’ve written previously on some of the best credit cards that utilize the Visa network so today we’re turning our focus to seeking out some of the best cards that can be found in the Mastercard network.

There are so many types of Mastercards that it’s impossible to list all of the available options, however, in this article we’ve selected some of the best to share with you today.

But first, let’s briefly look at how the Mastercard network works.

How Does the Mastercard Network Work?

Without diving too deep into the topic of credit card association networks, allow us to take just a minute to explain how the Mastercard credit card network relates to your credit card.

First, Mastercard does not issue credit cards, it simply serves as the payment processor between the merchant from which you’re purchasing and the financial institution that issued your card.

Mastercard also offers a menu of benefits from which the financial institution can select to pass on to the cardholder.

There are 3 levels of Mastercard benefits — Mastercard Standard core benefits, elevated Mastercard World benefits, and the highest level Mastercard World Elite benefits.

Most of the cards mentioned here will offer Mastercard World or Mastercard World Elite benefits.

The financial institution decides which benefits it wants to pass on but could also add its own level of benefits. For example, a card issuer may choose to offer additional benefits such as bonus earnings, airport lounge membership, or statement credits for food delivery services.

That’s where the diversity comes in, and the reason different Mastercards have different levels of benefits.

Let’s now look at some of the Mastercard versions that stand out.

Bottom Line: Mastercard does not issue credit cards; it serves as a network that facilitates the processing of payments between the merchant and the card issuer. Mastercard also provides a collection of benefits that the financial institution can select to pass on, or not, to the cardholder. 

Best Mastercard Travel Rewards Credit Cards

Travel rewards credit cards are commonly referred to as such because the earnings, redemption options, and benefits tend to be travel-related. While the Mastercard network issues a lot of co-branded travel-related cards (we’ll cover those shortly), the network does not host a large collection of general travel rewards credit cards compared to Visa or American Express.

You will, however, find worthy Mastercard travel rewards cards from which to select.

Citi Premier^® Card

Travelers who are looking for a travel rewards credit card with a lower annual fee, bonus rewards on everyday and travel purchases, plus flexible redemption options, might want to look closer at the Citi Premier card.

Here’s why we like this Mastercard for travel rewards:

• Redeem points for 1 cent each for other travel via the portal
• Transfer points to airline partners for greater potential value
• Luxury Hotels and Resorts benefits
• No foreign transaction fees
• Purchase protection and extended warranty
• World Elite benefits

Citi Prestige^® Card

Hot Tip: At this time, the Citi Prestige card is no longer available for new applicants.

The Citi Prestige card lost some of its luster when Citi removed a good portion of its travel benefits. However, the card still has a few sweet spots that can deliver value for the right traveler.

In addition to a generous welcome bonus and higher earnings on airfare, restaurants, hotels, and cruise lines, you’ll find the following benefits on this Citi-issued Mastercard:

• $250 statement credit for qualifying travel purchases
• Priority Pass Select membership which allows lounge access for up to 2 guests or your entire immediate family
• Redeem for flights via the Citi ThankYou Travel Center for 1.25 cents per point
• Transferring ThankYou Points to airline partners may result in greater value
• Receive a statement credit equal to the average base night cost when booking 4 consecutive prepaid hotel nights via ThankYou.com, twice per year
• Up to $100 statement credit for Global Entry or TSA PreCheck fee
• Cell phone protection, up to $1,000 per claim, $1,500 per year, $50 deductible
• Rental-car elite status benefits with Hertz, SIXT, and National
• World Elite benefits

Both of these cards come with shopping benefits such as purchase protection, extended warranty, and Shoprunner membership. The cards also have access to World Elite Mastercard Travel and Lifestyle Services that you can register for here.

Bottom Line: While Citi markets several cards as travel rewards cards, the card issuer has removed several travel-related benefits such as trip cancellation, trip interruption, trip delay, car rental insurance, and more. You’ll still find several Citi-issued cards that offer stellar earning levels and valuable redemption options for travel but be sure to compare benefits with other travel rewards cards if travel protections/benefits are a priority for you. 

Best Mastercard Cash-Back Credit Cards

There’s no shortage of cash-back-earning Mastercards. Here are a few of the most popular cards — some that do not even charge an annual fee.

Chase Freedom Flex℠

Packed with more earnings at grocery stores and quarterly bonus categories, flexible redemption options, and benefits you can use, the no annual fee Freedom Flex card offers easily-recognized value.

We also like its collection of additional benefits:

• 5% cash-back on travel purchased via the Chase travel portal
• 3% cash-back on dining purchases, take-out, and eligible food delivery
• 5x cash-back on Lyft rides (through March 2025)
• 1% cash-back on all other purchases
• Redeem points at 1 cent each for statement credit or travel via the Chase travel portal
• Transfer points to premium Chase cards for even greater potential value
• 3 months of free DoorDash DashPass with an additional 9 months at 50% off
• Secondary collision loss damage waiver car rental insurance
• Trip cancellation and trip interruption
• Up to $800 in cell phone protection
• Purchase protection and extended warranty

Citi^® Double Cash Card

For those who reach out for simplicity, the Double Cash card will match that requirement perfectly.

• Simply earning structure
• No limit on the amount of rewards you can earn
• Introductory 0% APR on balance transfers for 18 months (fees apply)
• Redeem points for cash-back, travel through the Citi Travel Portal, transfers to select partners, or gift cards

Capital One^® Savor^® Rewards Card

If you enjoy dining out, ordering carryout, or indulging in regular restaurant delivery, receiving unlimited cash-back on those purchases could make the Capital One Savor card a wallet necessity. Add in more bonus earnings at grocery stores and on entertainment and cash-back rewards will accumulate quickly.

Plus, there are additional reasons this Mastercard offers value:

• Secondary car rental insurance
• Shopping benefits such as purchase protection, price protection, and extended warranty
• No foreign transaction fees

Bottom Line: Cash-back rewards are normally simple to earn and redeem. It’s also common to find Mastercard cash-back cards that do not charge an annual fee or charge a lower annual fee yet still deliver good earning levels and in some cases, benefits you can utilize. 

Best Mastercard Business Credit Cards

Bank of America^® Business Advantage Cash Rewards Card

For those business owners who have a qualifying existing relationship with Bank of America, the earnings offered on this World Mastercard could be a game-changer.

The card is best for small businesses, however, as there is a $50,000 limit on purchases for 3% and 2% bonus categories combined.

Here is an overview of the benefits offered by the card:

• No annual fee
• 3% cash-back on your choice of category each month including travel, purchases at gas stations, office supply stores, TV/telecom/wireless, business consulting services, or computer services
• 2% cash-back on dining
• 1% cash-back on all other purchases

Hot Tip: Bank of America issues several personal and business credit cards, check out our complete overview here.

CitiBusiness^®/AAdvantage^® Platinum Select^® Mastercard^®

If you’re a business owner and American Airlines is your preferred airline, you’ll find value in an American Airlines-branded credit card that focuses earnings toward business expenses.

You’ll also find benefits that save you money and make your journey more comfortable when flying on the airline:

• Preferred boarding and 1 free checked bag for the cardholder and up to 4 traveling companions
• 25% statement credit for in-flight purchases including food, beverages, and Wi-Fi
• Spend $30,000 on the card in a calendar year and receive a $99 companion ticket
• Add authorized users at no charge
• Shopping benefits such as purchase protection, extended warranty, and ShopRunner membership
• World Elite Mastercard Travel and Lifestyle Services (register here)

Bottom Line: There are a limited number of business credit cards that utilize the Mastercard card network. To view a more expansive collection, and compare options, check out our recommendations for the best small business credit cards.

Best Airline and Hotel Branded Mastercard Credit Cards

IHG One Rewards Premier Credit Card

IHG loyalists will find tremendous value with the IHG Rewards Premier card. If you frequent IHG properties and enjoy instant elite status, free hotel nights, and a nice collection of travel benefits, the card can easily earn a place in your wallet.

• IHG One Rewards Platinum Elite status
• Free hotel night each card anniversary, worth up to 40,000 rewards points
• Global Entry/TSA PreCheck/Nexus fee statement credit
• 20% discount on IHG point purchases
• Redeem points for free hotel nights, starting at 5,000 points
• Secondary car rental insurance
• Trip interruption and trip cancellation insurance
• Baggage insurance

Citi^®/AAdvantage^® Platinum Select World Elite™ Mastercard^®

American Airlines travelers will welcome the benefits offered on this AAdvantage-branded card that aligns well with the American Airlines AAdvantage frequent flyer program.

• Generous welcome bonus
• $99 fee is waived the first year
• 2x miles earned per dollar spent on American Airlines, at restaurants, gas stations
• Free checked bag and priority boarding for the cardholder and up to 4 travel companions
• 25% statement credit for in-flight food, beverage, and Wi-Fi purchases
• $125 airfare certificate after spending $20,000 each cardmember year

Both cards come with Mastercard and World Elite shopping benefits such as purchase protection, extended warranty, and Shoprunner membership. In addition, cardholders may register for World Elite Mastercard Travel and Lifestyle Services here.

Hawaiian Airlines^® World Elite Mastercard^®

If you’re a frequent Hawaiian Airlines traveler or just want to earn HawaiianMiles for that annual vacation to Hawaii, the Hawaiian Airlines World Elite card may offer some appealing attributes.

• Welcome bonus
• 3x miles per dollar spent on Hawaiian Airlines
• 2x miles gas, dining, grocery store purchases
• 50% discount on companion roundtrip airfare purchase
• $100 off a companion ticket at each card anniversary
• Free checked bag on Hawaiian Airlines
• Access to discount award flights
• Share miles between family members and friends at no charge

Best Western Rewards^® Premium Mastercard^®

Best Western has nearly 4,700 properties in over 100 countries worldwide, so you’re sure to find convenient and affordable lodging when you travel. Cardholders of the Best Western Rewards Premium card earn big at hotel properties and receive complimentary elite status just for having the card.

The card does charge an annual fee of $89 but comes with these additional benefits:

• Generous welcome bonus worth several free hotel nights
• Complimentary Best Western Rewards Platinum elite status
• 20 points per dollar spent at Best Western (10x for using the card, 10x for status bonus)
• Spend $5,000 on the card each 12 billing cycles and receive 40,000 Rewards points (the average price of a reward night is 16,000 points)
• 2 points per dollar for all other purchases
• 10% rate discount
• No foreign transaction fees

Bottom Line: If you have loyalty preferences when it comes to specific airlines or hotel brands, a branded card is a great way to elevate the benefits you receive when utilizing that brand. Most airline and hotel-branded cards align well with the loyalty programs to provide accelerated earnings, perks, and even a faster path to elite status. 

Best Mastercards for No Credit or Poor Credit

You’ll generally need a good to excellent credit score to secure the cards mentioned previously in this article. But having no credit or even bad credit won’t eliminate the possibility of securing a card that utilizes the Mastercard network.

Here are several Mastercard options for those with no credit or bad credit:

• First Digital NextGen Mastercard^® Credit Card — no security deposit required, $300 initial credit limit may be increased after 12 months of positive history, $75 first year annual fee
• Platinum Credit Card from Capital One^® — no annual fee or security deposit, $300 initial credit limit may be increased after 5 months of positive history
• Capital One Platinum Secured Credit Card — $49, $99, or $200 security deposit based on creditworthiness, $200 initial credit limit, no annual fee

Fortunately, there are so many options to choose from when you decide to start building credit or rebuilding poor credit. We’ve discussed the topic in-depth in several articles on secured cards, and cards for no credit or bad credit.

Final Thoughts

Knowing the differences between card processing networks can help you diversify your credit card holdings to be sure you always have a card the merchant will accept.

Having cards that use various networks is also imperative if you’re a frequent traveler as not all networks are widely accepted globally.

While Visa and Mastercard are the largest card networks, American Express and Discover are growing quickly and in third and fourth place respectively.

It’s worth noting that we’ve only mentioned a sampling of available Mastercards here, and even the cards we’ve featured may have additional benefits not listed. We have also abbreviated the benefit descriptions, so you’ll want to access any Guide to Benefits for complete information, including the applicable terms and conditions.

When comparing card options, pay close attention to the benefits offered as many Mastercards, especially those issued by Citi, do not offer a full collection of travel benefits.

Finally, finding the right Mastercard for you will involve determining your highest expenditures and making sure the card you’re considering will earn well on those purchases. The right card should also have an appropriate annual fee that matches your situation, redemption options that deliver value, and benefits that can be easily utilized.

The information regarding the the Bank of America^® Business Advantage Customized Cash Rewards credit card was independently collected by Upgraded Points and not provided nor reviewed by the issuer.

The information regarding the Capital One Platinum Credit Card was independently collected by Upgraded Points and not provided nor reviewed by the issuer.
The information regarding the Capital One Savor Cash Rewards Credit Card was independently collected by Upgraded Points and not provided nor reviewed by the issuer. 
The information regarding the Capital One Platinum Secured Credit Card was independently collected by Upgraded Points and not provided nor reviewed by the issuer.
The information for the Citi Prestige^® Card has been collected independently by Upgraded Points and not provided nor reviewed by the issuer.
The information regarding the Chase Freedom Flex℠ was independently collected by Upgraded Points and not provided nor reviewed by the issuer.
The information regarding the CitiBusiness^® / AAdvantage^® Platinum Select^® Mastercard^® was independently collected by Upgraded Points and not provided nor reviewed by the issuer.
The information regarding the Citi^® / AAdvantage^® Platinum Select^® World Elite™ Mastercard^® was independently collected by Upgraded Points and not provided nor reviewed by the issuer.
The information regarding the Hawaiian Airlines World Elite Card was independently collected by Upgraded Points and not provided nor reviewed by the issuer.
The information regarding the Best Western Rewards^® Premium Mastercard^® was independently collected by Upgraded Points and not provided nor reviewed by the issuer.