types of mastercard

Mastercard | Types, Balance, Limit, Advantages, & Master vs Visa Card

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About Mastercard

Friends, Do you know What is MasterCard? and How MasterCard works? No, Don’t worry! Today, we are going to learn everything regarding the Mastercard like Mastercard wiki, balance, online, Customer service along with Mastercard debit card.

Mastercard logo

Today, we are living in a digital era of the cashless transaction. All of us wants to do online transaction rather than standing in a long queue of the banks. For this, we all of us, make use of a plastic money such as a Credit card, Debit card, etc. Mastercard is also one of these plastic cards, used for making the transaction for shopping online or money transferor anything else. If you are using MasterCard in the USA, Europe, India or abroad, then you should learn some basics about Mastercard So, that you feel comfortable while using a Mastercard and you can use it carefully.

Mastercard Wiki

Mastercard Inc. (Mastercard), is an American Multinational & Financial Corporation serving worldwide as a gateway for the cashless transaction. It is situated at MasterCard International Global Headquarters, Purchase, New York, in Westchester County of United States. Mastercard Inc. provides a service as a gateway between merchant’s bank and the card issuer such as banks, financial cor. etc purchasers, who are using the “Mastercard” brand as debit or credit cards for performing various purchases throughout the globe.

Mastercard Sample

This company is an openly traded company from 2006. Before this, it was a co-operative controlled by about 25,000 financial organizations and some more that used to issue this brand card; Mastercard. Basically, Mastercards are known as the Master Charge or Interbank in the time between 1966-1979, formulated by some Californian banks to compete for the BankAmericard (Issuer: Bank of America). This BankAmericard now known as Visa credit card and Visa Inc. is issuing them.

What is Mastercard?

When we create any bank account, that usually, banks offers a plastic card to you. Mastercard or Rupay card or Visa card…is written on them. What do these word, state to us? In fact, these three are a payment gateway used for the cashless transaction.

When you go for making use of plastic money, whether it may be credit card or debit card by using ATM or POS machine, then for making transaction, you need a gateway for a successful transaction. Mastercard Inc is also one of that co, who are providing gateways for the cashless transaction. With the help of Mastercard, You can transfer a cash from one account to another, money withdraws, pay for shopping, pay your bills, shop online, etc.

Mastercard | Types

types of mastercard

There are various types of Mastercards, which are listed below: 

Consumer Credit Cards

The various types of Mastercard in this category are

  • Standard  MasterCard®
  • Gold  MasterCard®
  • Platinum MasterCard®
  • Black™  MasterCard®

Consumer Debit Cards

The various types of Mastercard in this category are

  • Standard Debit MasterCard®
  • Gold Debit MasterCard®
  • Platinum Debit MasterCard®
  • BlackTM Debit MasterCard®
  • World Elite Debit MasterCard®

Commercial Mastercards

The various types of Mastercard in this category are

  • Business Card® MasterCard
  • Executive Business Card® MasterCard
  • Business Black MasterCard
  • Business World Elite MasterCard
  • Corporate Black  MasterCard
  • Corporate World Elite MasterCard

How Mastercard Works?

It is easy to understand how a Mastercard works? If you are a Mastercard holder and want to transfer a cash from one account to another, money withdraws, pay for shopping, pay your bills, shop online, etc with the help of Mastercard, first of all swipe your card in the ATM or the POS machine, so that it can detect the codes & numbering of your Mastercard. Then, enter your secret no., set as a password of Mastercard to continue your transaction. Then after the procedure is simple. Just follow the instructions, and proceed.

how mastercard works

As you will enter the instruction, it will transmit that codes and instruction to the Mastercard Inc. to proceed ahead. It is the Mastercard Inc that will decide that your transaction is going to be successful or unsuccessful. If you have sufficient Mastercard Balance than it will respond in your favors as a successful transaction and if you are a guy with low Mastercard Balance, then it will respond error as an unsuccessful transaction.

You can perform numbers of Mastercard Online transaction, with your sufficient Mastercard Balance. But, for Money withdrawal transaction, Bank used to set up a Mastercard Limit per day, so that people do not withdraw much money from particular ATM to let it become empty for others.

What is Mastercard Balance and Limit

Mastercard citi

Mastercard Balance

Mastercard Balance is nothing but the balance of your saving bank’s account. However, how to get a MasterCard | Debit card is not a hard working task. Just create your new saving account in bank’s, with some saving; Bank Balance depending on your decision. The bank will give you a plastic card; named Mastercard. However, you can apply online for getting a Mastercard to the official site of your bank. You can check your Mastercard balance in any ATM or POS machine or with the help of Mastercard balance checker online

Mastercard Limit

Mastercard limit is nothing but the amount, up to that you can withdraw money by using particular Mastercard. This, limit vary from bank to bank, depending on their facilities and applied charge. Like atm withdrawal limit wells Fargo is $500, while the Mastercard limit per day in India is Rs 25000 for SBI, which very bank’s to banks.

Difference Between Master and Visa Card

Mastercard vs Visa

Both, Mastercard and Visa are much similar to each other and have less difference. Both offer a wide range of benefits. A Higher level of these cards usually offers additional vacation bundles and discounted travel. Visa vs Mastercard, which is the best for you? Friends, do you know What is the difference between Visa and Mastercard debit card? Let us learn them.

VIsa | 2 tier (levels)

Visa allows two types of benefits:

  • The base level &
  • The Visa Signature.

Mostly, all types of financial co. Base level cards are loaded with the following facilities

  1. Auto rental collision damage coverage
  2. Extended purchases warranties
  3. Unauthorized purchase coverage
  4. Emergency assistance &
  5. Urgent card replacement

While the Visa Signature cards offer the following

  1. Auto rental crash damage coverage
  2. Extended purchases warranties
  3. Unauthorized purchase coverage
  4. Emergency assistance &
  5. Urgent card replacement
  6. 24 X 7 concierge service
  7. Online portal

This all types of service give access to various discounts along with excellent access to the entertainment, dining, sporting events, travel, etc…

Mastercard | 3 Tiers

Mastercard allows three types of benefits:

  • The Base Mastercard
  • The World Mastercard &
  • The World Elite Mastercard.

The Base Mastercard provide same facilities as Base level Visa do. Also, include the following

  1. Fraud liability protection
  2. Emergency travel assistance
  3. Card replacement &
  4. Extended warranties.

The only facility, that Visa does not is it offers Price protection. If you purchase anything by using a Mastercard, & if there is a reduction in the price of your purchased item within two months, then Mastercard itself report the difference. However, there are some prohibitions.

What is Mastercard

Final Words

Guys! This is all about Mastercard, like Mastercard wiki, What is Mastercard & how it works? All the above-mentioned details are truthfully information such as Mastercard balance, online, Customer service along with Mastercard debit card.

If you find any other query regarding Mastercard or want to know more about Mastercard, then let us know by commenting below in comment box so that we can help you as soon as possible by us.

Stay tuned to us for a more informative article.

Have a good day!!!

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