Mastercard is one of the largest payment processors and credit card issuers in the world. Like other major credit card companies such as Visa and American Express Mastercard offers a range of credit card products across different segments and geographies. One common question that consumers have is whether Mastercard issues its own version of a “platinum” card.
Overview of Platinum Cards
In the credit card industry, platinum cards are generally considered premium cards that offer enhanced benefits and perks compared to standard credit cards. Some common features of platinum cards include:
- Higher credit limits
- Low or no annual fees
- Reward points or cashback on spending
- Travel and shopping privileges
- Access to airport lounges
- Travel and rental car insurance
- Concierge services
The platinum card level usually means that the credit card company is offering a more exclusive and high-end service. Visa has cards with platinum-level features, such as the “Visa Platinum” and “Visa Signature.” American Express has the well-known “Platinum Card.” This makes a lot of people wonder if Mastercard has a platinum product that is similar.
Mastercard and Platinum Cards
Unlike American Express and Visa, Mastercard itself does not directly issue credit cards to consumers. Instead, Mastercard operates a payments network and lends its brand to partner banks and financial institutions that issue cards on the Mastercard network. This means that Mastercard does not offer a proprietary “Mastercard Platinum Card” the way that American Express offers the “Platinum Card” and Visa offers “Visa Platinum”.
However many of Mastercard’s issuing bank partners do offer platinum-level Mastercard-branded cards with enhanced benefits. These platinum Mastercards leverage the strength and acceptance of the Mastercard network and branding while combining it with platinum-style rewards and perks.
Some examples of Mastercard platinum cards offered by issuers include:
- Citi Prestige® Card
- Avianca Vuela Visa Platinum Card
- HSBC Platinum Mastercard credit card
- RBC Rewards+ Visa Infinite Privilege Card
Features of Platinum Mastercards
While platinum Mastercards can vary depending on the issuing bank there are some common benefits and features found across platinum cards running on the Mastercard network
High Rewards Rates
- Earn 2-3 points or higher per $1 spent on common categories like travel, dining, groceries, etc.
- May offer bonus rewards on select merchants or Mastercard partners
- Rewards can be redeemed for statement credits, airline miles, gift cards, etc.
Luxury Perks
- Complimentary airport lounge access (Priority Pass, Plaza Premium, etc)
- Hotel privileges like room upgrades, resort credits, late checkout
- Access to exclusive events, golf outings, once-in-a-lifetime experiences
- Personal concierge service for travel, restaurants, event bookings, etc
Premium Travel Benefits
- Travel insurance for trip delays, cancellations, interruption
- Rental car collision damage waiver insurance
- No foreign transaction fees
Strong Signup Offers
- Large signup bonuses of 50,000 points or higher
- Generous spending requirement timelines (3-6 months)
Added Security and Protection
- $0 fraud liability from unauthorized charges
- Extended warranty protection on purchases
- Purchase protection against damage or theft
The Bottom Line
While Mastercard does not offer a direct equivalent to the American Express Platinum Card or Chase Sapphire Reserve, Mastercard users still have options like the Citi Prestige Card and HSBC Platinum Mastercard. These platinum Mastercards offer similar rewards, luxury perks, travel benefits, and security protections as premium cards from other networks. The key difference is that the issuing bank, not Mastercard itself, determines the specific platinum benefits. But for a luxury card experience on the reliable Mastercard network, a platinum Mastercard can meet the same needs.
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View Mastercard Guide to Benefits (PDF) Certain terms, conditions and exclusions apply. Please refer to the Guide to Benefits for further details and full terms and conditions
- Travel Assistance Services – Enjoy your trip more knowing we provide a range of emergency services 24 hours a day. Get help coordinating medical, legal, and travel services. Please note that you are responsible for the cost of medical, legal, transportation, cash advance, and other goods or services provided. Certain terms, conditions, and exclusions may apply. Call 1-800-627-8372 to learn more.
- Mastercard Airport Concierge™ Enjoy 15% savings on Airport Meet and Greet services with a personal assistant to escort you through the airport on departure or arrival or to any connecting flight at over 700 destinations worldwide, 24/7. You may also enjoy an expedited security and/or immigration process at select airports. To reserve Mastercard Airport Concierge services, call 1-800-Mastercard.
Capital One Platinum Credit Card
FAQ
What is a Platinum MasterCard?
The Platinum Mastercard is the definitive purchasing tool for premium cardholders looking for worldwide acceptance, financial sophistication, and exceptional travel and lifestyle benefits.
Who provides MasterCard platinum?
This service is provided by Generali Global Assistance, Inc. Please see your guide to benefits for details or call 1-800-MASTERCARD. Mastercard Platinum empowers you with the flexibility to explore the places and pursuits that mean the most to you. The combination of worldwide acceptance and valuable features.
Do I need to register for MasterCard platinum?
Cardholders need to register for this service. This service is provided by Generali Global Assistance, Inc. Please see your guide to benefits for details or call 1-800-MASTERCARD. Mastercard Platinum empowers you with the flexibility to explore the places and pursuits that mean the most to you.
Does platinum mastercardtm have a purchase assurance program?
Platinum MasterCardTM cardholders can benefit from the security and safety offered through Purchase Assurance, an insurance program. If something you bought with your card is damaged or stolen within 90 days of purchase, your purchase may be protected.
How does a MasterCard Gold Card work?
Cardholders just use their Mastercard Gold Card to pay for things on airlines, and the credit is applied automatically to their account. There’s no need to activate or designate an airline. The full credit amount is available at the start of the calendar year. Up to a $120 application fee credit for the cost of TSA Pre✓® or Global Entry.
How does a Mastercard Black Card work?
Members of the Mastercard Black Card just use it to pay for things on airlines, and the credit is applied automatically to their account. There’s no need to activate or designate an airline. The full credit amount is available at the start of the calendar year.
What is a Mastercard Platinum card?
The World Mastercard Platinum credit card offers you special privileges, outstanding services and comprehensive insurance. These include Travel & Concierge Service, free access to airport lounges, an extensive insurance package and a bonus program. Now with half the annual fee in the first year.
How do you qualify for a Platinum Mastercard?
EligibilityFilipino Citizen and Philippine Resident. Principal Cardholder must be between 21-65 years old. Employed as a Regular Employee for at least 1 year or Self-Employed Profitably for at least 3 years. Gross Annual Income must be at least PHP780,000.
What is the highest level of a Mastercard credit card?
World Elite™ Mastercard®
Which is better, Visa Platinum or Mastercard Platinum?
Conclusion. In the debate of Visa card vs Mastercard, there is no definitive winner. Both offer extensive benefits, robust security, and widespread acceptance. The best choice depends on your individual needs and the specific perks offered by the card issuer.