Mastercard credit cards

What's a Mastercard credit card?

Mastercard is one of the 2 largest electronic payment networks that handle card payments in Australia. The other network is Visa. And there's also American Express, which issues cards on its own network.

Mastercard itself doesn't issue credit cards. It provides the payment technology behind the credit card.

Mastercard credit cards do offer some specific features and benefits, like Zero Liability protection and security features. But when comparing credit cards it's more important to look at the rates, fees, perks and features of a specific credit card.

Who is Mastercard?

Mastercard grew out of a series of regional bankcard associations in the late 1960s. Mastercard expanded throughout the world in the 1970s and 1980s. Mastercard went public in 2006.

Which Australian banks and card providers use Mastercard?

• Commbank
• Westpac
• Qantas Money
• Citi
• ME Bank
• Coles
• Latitude

What benefits can I get with Mastercard?

Every credit card has its own rates, features, fees and benefits regardless of the network it's on. But cards on the Mastercard network do offer some specific features and benefits.

• Mastercard Priceless. Mastercard Priceless gives you access to offers for travel, dining, shopping and entertainment, with a global network of deals. To give you an idea of the offers available, when we looked in January 2025, you could get up to 16% cashback on accommodation through Booking.com.
• World Mastercard benefits. 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.
• Global acceptance. Mastercard is accepted in over 200 countries and territories around the world, including almost every business that accepts credit card payments in Australia.
• Contactless and mobile payments. Mastercard contactless (sometimes called PayPass) is a payment option that lets you tap to pay for purchases when you're at the shops. In Australia, Mastercard credit cards offer contactless payments as a standard feature, giving you a way to pay without entering a PIN if your purchase is under $100.
• Digital wallet. If your credit card issuer supports Apple Pay, Google Pay, Samsung Pay or another mobile wallet, you can also use your Mastercard credit card for contactless payments from your mobile phone or other device.

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

Visa, Mastercard or American Express? What's the difference?

Visa and Mastercard boast very similar benefits and protections. These include:

• Zero Liability protection
• Security and fraud monitoring
• Contactless payments
• Travel, dining and entertainment perks (depending on the card)

There are differences between the two. With Mastercard contactless payments you need to enter a PIN on transactions above $100. For Visa it's a bit higher at $200.

American Express is a little bit different to Visa and Mastercard. It issues its own credit cards which have many features and benefits. But fewer businesses accept these cards (although most major businesses today do).

Our expert says: Mastercard or Visa?

"If you're looking for a new credit card, good news: the payment network doesn't matter much. You really want to work out what kind of card you want, and then compare options from different banks. Let them worry about the difference between Visa and Mastercard while you worry about fees, rates, rewards points and benefits. "

Richard Whitten

Money Editor

How to compare Mastercard credit cards

Whether a card uses the Mastercard network or another network is less importance than the details of the card itself.

Look at:

• Annual fees. Most credit cards in Australia charge an annual fee, which ranges from $30 to $700 or more depending on the card. There are also some Mastercard credit card accounts that offer no annual fee, either for a promotional period or for life.
• Interest rates. Mastercard credit card interest rates typically range from 9.9% to 23.99% for purchases. You can also get 0% interest rate offers for purchases or balance transfers, which helps you save on costs when you open a new account.
• Bank or card company. A lot of Australian banks and financial institutions offer Mastercard credit cards. 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. If your goal is to earn points with a credit card, you can compare frequent flyer and rewards cards to find a Mastercard with the features that you want.
• Complimentary insurance and other perks. Some Mastercard credit cards offer complimentary insurance for travel and shopping, as well as perks like airport lounge access and concierge services.

Frequently asked questions

• How can I apply for a Mastercard credit card?

  You can't apply for Mastercard credit cards via Mastercard itself. You need to find a bank or card company that uses the Mastercard network.

• How can I set up Mastercard SecureCode?

  If your credit card provider offers SecureCode, you can start using it in just a few steps:

  • 1. Go to your card provider's website. This will have a link to SecureCode enrolment for your card or cards.
    2. Setup your verification method. The most common verification options are SMS codes or passwords.
    3. Shop online. After completing this process, 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, your bank will request additional information during the online checkout process to validate your purchase.

• What hotel benefits can I get with a Mastercard?

  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.

  To see the latest offers, go to the Mastercard Priceless website. Or, if you have a Mastercard credit card with a concierge service, you could call them to find out what hotel benefits are available based on your travel plans.

• Does Mastercard charge any fees?

  Mastercard does not charge cardholders a fee for using its network. But you could pay a surcharge when you use your Mastercard at some businesses, plus other account fees depending on your credit card provider. This is true for all credit cards, not just Mastercard.

• How does Mastercard make money?

  Mastercard makes money by charging fees to banks and other financial institutions, including:

  • 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.

  While many of these fees are relatively small, Mastercard's large global presence means that they add up. In fact, Mastercard's gross net revenue was US$22.23 billion for the 2022 financial year.

• What's the difference between Mastercard credit and debit 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 or make a contactless payment, the payment is always processed through the Mastercard network.

Written by

Amy Bradney-George

Journalist

Amy is an experienced journalist with over 16 years of experience, contributing to major publications like Money Magazine, The Sydney Morning Herald, and ABC News Australia. Specialising in personal finance, she frequently appeared in media outlets and on radio. Amy holds a Bachelor of Arts in Journalism and Drama from Griffith University and earned RG146 certifications in Tier 1 Generic Knowledge and Tier 2 General Advice Deposit Products, ensuring her expertise is grounded in current financial regulations. Amy was Finder's Senior Writer for Credit Cards from 2016 to 2024. See full bio

Amy's expertise

Amy has written 550 Finder guides across topics including:

• Credit cards
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Co-written by

Richard Whitten

Money Editor

Richard Whitten is Finder’s Money Editor, with over seven years of experience in home loans, property and personal finance. His insights appear in top media outlets like Yahoo Finance, Money Magazine, and the Herald Sun, and he frequently offers expert commentary on television and radio, helping Australians navigate mortgages and property ownership. Richard holds multiple industry certifications, including a Certificate IV in Mortgage Broking (RG 206) and Tier 1 and Tier 2 certifications (RG 146), as well as a Graduate Certificate in Communications from Deakin University. See full bio

Richard's expertise

Richard has written 596 Finder guides across topics including:

• Home loans
• Property
• Personal finance
• Money-saving tips