Best Mastercard credit cards of December 2023

Citi Premier® Card

Why we love it: The Citi Premier® Card (see rates and fees) offers a great sign-up bonus, free authorized users and bonus earning on traditional spending categories such as flights, gas, and hotels. In addition, these points are transferable to all of Citi’s travel partners.

Who should use it: Anyone looking to dip into the travel credit card world can enjoy the numerous benefits offered by the Citi Premier card. The card offers many perks and benefits while maintaining a relatively modest annual fee of $95.

Why it’s in my wallet: “The Citi Premier Card is a great way to earn Citi ThankYou Rewards points, especially while gas prices are high. I appreciate the card’s earning rate of 3 points per dollar spent at restaurants, gas stations and supermarkets, as well as on air travel and other hotels. Plus, I appreciate that I can transfer my Citi ThankYou points to a variety of airline and hotel loyalty programs, where I can then redeem my newly acquired points or miles for high value.” — Katie Genter, senior writer

Alternative card options: If you are looking for a card with more travel protection, consider the Chase Sapphire Preferred Card. The Preferred card comes with many bonus earning categories as well as comprehensive travel protections, including primary car insurance coverage on rental cars.

Standout perk: The Citi Premier allows you to add authorized users for no additional fee. 

Capital One SavorOne Cash Rewards Credit Card

Why we love it: The Capital One SavorOne is a true cashback card with numerous bonus categories and no spending cap. Earn 3% back on dining, grocery stores, streaming services and more. With no annual fee (see rates and fees), it’s a no-brainer.

Who should use it: Anyone whose spending is within the card’s bonus categories should consider the Capital One SavorOne. The card also waives foreign transaction fees (see rates and fees) — which makes it a great companion when traveling outside the U.S.

Why it should be in your wallet: The Capital One SavorOne has no annual fee and a superb cash-back model. The elevated cash-back categories can be a catch-all for people who want to earn more cash back or help fill in the missing categories that your other cards don’t earn rewards on.

Alternative card options: If you are looking for a card that has more benefits and more bonus earning potential, consider the Capital One Savor One Cash Rewards Credit Card.

Standout perk: The Capital One SavorOne carries no annual fee and waives foreign transaction fees.

The information for the Capital One Savor Card has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer

Citi Custom Cash® Card

Why we love it: The Citi Custom Cash® Card (see rates and fees) is a cash-back card that is customizable to your spending habits. You can earn 5% back on up to $500 in your top spending category each month. In addition, it offers no annual fee, a solid sign-up bonus and a long 0% introductory APR for purchases and balance transfers.

Who should use it: Those with spending habits that vary widely each month can find great value in the flexibility of the Citi Custom’s reward model. 

Why it should be in your wallet: The Citi Custom Cash allows cardmembers to maximize their reward earnings without having to commit to typical bonus categories. 

Alternative card options: The Chase Freedom Flex offers a formidable 5% cash back on rotating bonus categories every quarter after activation (up to $1,500 in spending). In addition, it also comes with a sign-up bonus and no annual fee.

Standout perk: The Citi Custom Cash allows you to earn 5% back on up to $500 in your top spending category. 

Capital One Quicksilver Cash Rewards Credit Card

Why we love it: There is no card quite as simple as the Capital One Quicksilver. It has a flat 1.5% cash back on all purchases, no annual fee and no foreign transaction fees (see rates and fees). 

Who should use it: Card users who are looking for simplicity will find the Quicksilver to be a great fit for them. There is no fuss to maximize your earnings with the Quicksilver because you consistently earn 1.5% cash back on every purchase.

Why it’s in my wallet: “This is my oldest credit card, but I’ve kept it open for more than just its history to aid my credit score. With no annual fee and a fair earning structure, it’s a good option for purchases that don’t fall into bonus categories on my other credit cards. I’m happy knowing I’ll never earn less than 1.5% back on spending.” — Ryan Smith, credit cards writer

Alternative card options: The Capital One SavorOne Cash Rewards Credit Card might be a better choice if you typically spend on dining, groceries and entertainment. With the SavorOne, you will earn 3% cash back on these categories.

Standout perk: The Capital One Quicksilver card has no annual fee (see rates and fees) and waives foreign transaction fees (see rates and fees). 

Citi Double Cash® Card

Why we love it: The Citi Double Cash® Card (see rates and fees) is a simple cash-back card that earns 2% back on every purchase (1% when you buy and 1% when you pay your bill). It comes with no annual fee, and if you have a card that earns full ThankYou Rewards points (like the Citi Premier Card), you can convert your cash back to fully transferable rewards.

Who should use it: This card is best suited for someone who is looking for a simple cash-back card that will help them earn on every purchase.

Why it’s in my wallet: “The Citi Double Cash card was one of my very first credit cards and remains one of my favorites. I use the card to earn 2% back on categories that are not covered by my other credit cards. There is no annual fee, no capped earnings and no fuss!” – Christina Ly, credit card writer

Alternative card options: If your spending typically centers around dining, groceries and entertainment, consider the Capital One SavorOne Cash Rewards Credit Card. The SavorOne earns 3% back on these categories.

Standout perk: The Citi Double’s cash-back can be transferred to ThankYou Points when linked to a ThankYou account.

What is a Mastercard credit card?

Mastercard is a credit card network that partners with other financial institutions to issue credit cards. A Mastercard credit card is one that uses the Mastercard network for transactions. It’ll have the Mastercard logo on either the front or back.

Related: What’s the difference between a credit card network and issuer?

Mastercard vs Visa

Mastercard and Visa are both credit card networks. The two offer similar security and benefits, and as the consumer, you’ll see no appreciable difference between Mastercard and Visa when your card is used at a different retailers. Both Visa and Mastercard are widely accepted by merchants, but there are different types of Visa and Mastercard credit cards which offer a variety of perks for cardholders. 

Types of Mastercard credit cards

All Mastercards fit into one of three types: Standard, World and World Elite. They have varying levels of benefits and perks, depending on the partner financial institution. Below, we’ve listed some of the common perks you’ll find on these cards — though refer to your card issuer’s exact terms and conditions to see what your Mastercard offers.

Standard Mastercard

The standard Mastercard is Mastercard’s entry-level card. It offers basic benefits that are common among credit cards, including: 

• Zero liability protection
• ID theft protection

These cards will almost always carry no annual fee, but they can be a good way to get started in the world of travel rewards.

World Mastercard

World Mastercard is the mid-tier Mastercard level with added protection and benefits. Cards in this category typically include all the benefits from standard Mastercards alongside additional perks, which can include:

• Cellphone protection: If you pay your bill with your World Mastercard, your cellphone may be eligible for reimbursement if it’s damaged or stolen — generally up to $600 per claim (with a maximum of two claims per year and $1,000 in yearly coverage)
• Access to Mastercard luxury hotels and resorts
• Priceless Cities travel experience program, a Mastercard exclusive offer
• Complimentary ShopRunner membership
• Statement credits for select merchants — including Instacart and Peacock

World Elite Mastercard

As the highest tier of Mastercard, it is no surprise that World Elite Mastercard benefits are much more extensive. Some additional perks enjoyed by World Elite Mastercard holders include: 

• Higher cellphone protection (up to $800 per claim)
• Complimentary rental car elite status with Avis, National and Sixt (enrollment is required)

• World Elite concierge service

How to choose a Mastercard credit card

Credit cards are very personal because everyone’s spending habits vary. This can make choosing between the myriad Mastercard options tough. Luckily, our list features some of the best Mastercards to suit varying interests and spending habits, but we recommend taking these additional factors into consideration to help you narrow your choices:

• Your credit score
• The type of benefits and perks you want to earn
• Whether or not you want a card with an annual fee 

Mastercard credit card benefits

There are tons of benefits to having a Mastercard — including worldwide acceptance and, depending on the type of card, extensive travel perks. The “Types of Mastercard credit cards” section of this page offers more details on what benefits are available to cardholders at each membership tier.

How to maximize Mastercard credit card rewards

The best Mastercard for you will vary depending on a number of factors, but here are a few tips to help you get the most out of your card.

Maximize your bonus spending categories

One of the best ways to maximize your credit card benefits is by finding a credit card that best fits your spending. If the majority of your spending is on restaurants and groceries, the Capital One SavorOne Cash Rewards card can be a great fit for you since it earns an unlimited 3% back on restaurants and groceries.

The best way to optimize your spending is simply to find a card that already matches your expenses. 

Related: The best way to pay your credit card bills

Pay off your balance in full each month

To best take advantage of your card, you’ll want to avoid paying interest and fees on your card. You should aim to pay off your entire statement balance before your due date every billing cycle. This way, you will never pay interest on your balance. 

Related: World Elite vs. World Mastercard: Benefits and value

Methodology

Part of our mission at TPG is to help our audience make informed financial decisions to maximize their credit cards rewards and earnings. For this reason, we considered various factors to create this list of Mastercards that deserve a spot in your wallet. 

Welcome bonus

A large part of a card’s value is the welcome bonus. This is typically the best time to rack up tons of points, miles or cash back. Be sure to compare current offers to see which one is a good match for you, as most require you to spend a certain amount within a specific time frame to receive the bonus. This can help narrow down your choices depending on what your average monthly spending looks like. 

Annual fee

We featured cards with and without annual fees on this list to give you a broader range of options. We also considered if the cards with annual fees are worth it and how easily certain cards pay for themselves after you earn enough rewards to cover that cost.

Earning rates

This is one of the most personalized parts of credit card earnings. Everyone’s spending habits are different, so we highlighted multiple cards that offer excellent rewards across various categories. 

Perks and benefits

Many of the cards on this list include great perks like statement credits, elite status and travel protection. These benefits, in addition to redeemable cash back, can add incredible value for the right person. 

For Capital One products listed on this page, some of the above benefits are provided by Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply