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Mastercard Adds All Sorts of New Credit Card Benefits – Here’s How to See What You Qualify For

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Mastercard Adds All Sorts of New Credit Card Benefits –  Here’s How to See What You Qualify For

Jason StaufferMastercard Adds All Sorts of New Credit Card Benefits –  Here’s How to See What You Qualify ForMillion Mile Secrets Team

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INSIDER SECRET:  Benefits will vary depending on whether you have a World or World Elite Mastercard.  The best perks come with World Elite Mastercards, like the Citi Premier℠ Card

If you’ve got a World or World Elite Mastercard, you just got a slew of new benefits, including a $10 monthly credit for Lyft, $5 off Postmates orders of $25+, and deals for Fandango or Boxed purchases.

And there are even more credit card benefits coming July 1, 2019.  You’ll be getting cell phone insurance (when you pay your bill with an eligible card), and the option to enroll in an ID theft protection service.

With the addition of these benefits, Mastercard is removing extended warranty and price protection perks.

You can now save on Postmates deliveries with your World or World Elite Mastercard

New Mastercard World and World Elite Credit Card Benefits

These new perks apply to World Mastercard and World Elite Mastercard credit cards.  World Elite cardholders qualify for all of these new benefits; World cardholders are only eligible for a few of them.

A few World Elite Mastercards are:

Lyft

This benefit is only available with a World Elite Mastercard (not World Mastercard).

You can earn a $10 credit each calendar month in which you complete 5 eligible rides with Lyft.

To qualify, the rides must be paid for with your World Elite Mastercard and be one of the following fares: Standard, Shared, Shared Saver, Lux, Lux Black, Lyft XL, and Lyft Black XL rides.  Business rides, gift card purchases, ride-pass or subscription purchases, or separate tip charges won’t count toward earning the monthly credit.

Once you’ve earned the credit, it will be valid for 30 days.

You need to enroll for this offer by clicking here from your mobile device.

Fandango

Your World Elite Mastercard earns double Fandango points for movie tickets purchased through the Fandango website or mobile app.  This means you’ll earn 500 Fandango points for every two movie tickets purchased.  Those points are worth $5 toward movie tickets or streaming movies on FandangoNOW.

The $5 credit expires in 21 days, unless you have Fandango elite status.

Boxed

World Elite Mastercard credit cards now earn 5% in cash rewards for purchases with Boxed.  The cash rewards can be used toward future Boxed purchases.

You must create (or have) a Boxed account to take advantage of this perk.  And you can earn up to $500 in cash rewards per calendar year.

Postmates

World and World Elite Mastercards get $5 back on Postmates purchases of $25 or more.  This discount is automatically applied to your order when you pay with an eligible card.

This is a great perk to use with the Capital One® Savor® Cash Rewards Credit Card, which is a World Elite Mastercard.  With the card you can get the Postmates Unlimited monthly membership fee reimbursed for the first 12 months, and you get 4% back on dining, which includes Postmates.

With a Postmates Unlimited membership, all delivery fees on orders of $15 or more are waived.  So for every Postmates order of $25, you could potentially get the delivery fee waived, $5 off, and 4% cash back – that’s a great deal!

Cell Phone Insurance

On July 1, 2019, World and World Elite cardholders will be eligible for cell phone insurance when you pay your bill with your card.  This protection covers stolen or damaged phones, including even cosmetic screen scratches that don’t affect your ability to make calls.

Cell phones are expensive. Cell phone insurance doesn’t have to be

This benefit varies a bit depending on which card you have.  You are covered up to $600 per claim for World cardholders, and $800 per claim for World Elite cardholders.  The maximum payout per year is $1,000, and there is a $50 deductible.

You can also get cell phone insurance with these credit cards.  Personally, I pay my cell phone bill with my Ink Business Preferred℠ Credit Card because I get cell phone insurance and earn 3x Chase Ultimate Rewards points on the first $150,000 in combined purchases each year (then 1x after that) in select categories, including phone services and many other categories.

I might have to switch to a World Elite Mastercard once this benefit kicks in because this coverage is slightly better than what I get with my Ink Preferred card.

Mastercard ID Theft Protection

Eligible cardholders can register for Mastercard ID Theft Protection.  This will get you access to personal information monitoring services.  You’ll also have access to a team of identity theft resolution specialists, available 24/7 to help quickly take care of any identity theft incidents.

I’ll be interested to learn more about what this perk includes once it’s rolled out.  Hopefully it’s not just fluff with no practical value.

What You’ll Be Losing

With the addition of these perks, Mastercard will be removing extended warranty and price protection benefits.  Personally, this isn’t a huge hit since those benefits are available on other cards.

Overall, I’m excited about these additions.  I’ll make use of the Lyft credit which by itself could add $120 a year in value to a card.

How do you feel about these changes?

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Capital One® Savor® Cash Rewards Credit Card

Capital One® Savor® Cash Rewards Credit Card

  • Earn a one-time $300 cash bonus after you spend $3000 on purchases within the first 3 months from account opening
  • Earn unlimited 4% cash back on dining and entertainment, 2% at grocery stores and 1% on all other purchases. Plus, earn 8% cash back on tickets at Vivid Seats through May 2020.
  • No rotating categories or sign-ups needed to earn cash rewards; plus cash back won't expire for the life of the account and there's no limit to how much you can earn
  • No foreign transaction fees
  • Capital One cardholders get access to premium experiences in dining, entertainment and more
  • $0 intro annual fee for the first year, $95 after that

More Info

Editorial Note: We're the Million Mile Secrets team. And we're proud of our content, opinions and analysis, and of our reader's comments. These haven’t been reviewed, approved or endorsed by any of the airlines, hotels, or credit card issuers which we often write about. And that’s just how we like it! :)

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Citi credit card do not qualify for these even through they are technical World Elite

I have the Citi World Dividend card which I use to pay my cell phone insurance. I have called Citi Bank (spoke to benefits and customer service) and they are not aware of this benefit. Any idea how I can redeem it?

Bugyeong Moon

I tried to get the cell phone insurance benefit for my citi aa platinum select world elite mastercard today but was told by citi, mastercard, mycardbenfits, and phonebenefits that none of them administer this benefit. Anyone else have this issue?

Yes just had this issue today with my Citi World Dividend MasterCard

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