If you're looking for a credit card that offers cash back or rewards, you might be wondering what the difference is between a MasterCard credit card and a standard credit card. Both have the benefits of a card, but the one you choose depends on your spending habits. If you're the type of person who doesn't shop in every dollar store you see, a MasterCard is not for you. If you do, though, you'll find many other benefits of choosing a MasterCard. Here's how they compare.
When it comes to reward programs, the similarities end there. A lot of the time, a credit card is just a way to get cash back, rather than rewards. With a rewards program, the options aren't as many as with a cash back program, but both types usually offer the same convenience rewards cards. The differences come down to the actual card itself. The credit card with cash back is made to be swiped at select shops and merchants.
A MasterCard is made for the professional marketer who travels a lot and needs to have everything at his fingertips. They are available in both the regular card and the prepaid form, which are taken like a debit card and used like a credit card. When a customer swipes their card at the merchant, they can choose from a variety of purchases including gas, food, airline tickets, and movie tickets, among others. If they choose to pay for their purchases later, they can add this to their card to make up for the cost of the item and receive a percentage of the sale in cash back or a credit for future purchases.
A prepaid credit card works like a debit card, except that it isn't attached to an account. They work just like a debit card, with no monthly fees and charges. They are great for travelers, since they don't have to carry large amounts of cash, and can be used at any point of sale. The credit card company reports to all three of the credit bureaus that keep track of your financial records, so that the card is good in case of an accident where you need to prove ownership of the item that was used as a form of payment.
There are a few things that the savvy consumer will look for when choosing a credit card. The front and back should look nice and appealing to the naked eye. It's important to see what kind of reward programs the company offers and the expiration dates of the back date. It is also important to see how long the card is valid for. Check and be sure to verify that there are no hidden fees involved.
Some cards offer rewards cards with every purchase, while others are affiliated with specific stores. The rewards offered with the card matter a great deal. Also, see how much the company is willing to help track your spending and help you keep track of your spending habits. Some credit companies are known for being pushy about these things, whereas others have very reasonable policies if at all. All in all, choosing a Mastercard credit card is completely up to you and how much you're willing to pay for it.