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Mastercard adds new benefits for World, World Elite cards

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Mastercard has added six new perks for World and World Elite cardholders.

The new perks include rewards for using big digital brands like Lyft and Postmates as well as cellphone insurance and Mastercard ID Theft Protection™. Some benefits are ready for cardholders now, with others available July 1.

Mastercard’s move is the latest example among card issuers who are offering a range of credit card perks in an effort to provide value while staying competitive in the credit card rewards space.

Want to know more?

What are the new perks?

Mastercard announced six new benefits — some available only to World Elite cardholders and others for both World and World Elite cardholders. Here are the details.

Available now

  • Lyft: World Elite cardholders will get a $10 Lyft credit each month when they take at least five Lyft rides that month.
  • Postmates: World and World Elite cardholders will get $5 off every Postmates order of $25 or more.
  • Fandango: World Elite cardholders will get twice the Fandango VIP+ points when buying movie tickets through the Fandango app or at Fandango.com — meaning they’ll get 500 Fandango VIP+ points, worth $5, for every two tickets purchased.
  • Boxed: World Elite cardholders will get 5% cash rewards on Boxed purchases that they can use on future Boxed purchases.

Available starting July 1

  • Cellphone insurance: World cardholders will get cellphone protection worth up to $600 per claim, while World Elite cardholders will get protection worth up to $800 per claim, to cover theft, damage and even screen scratches. For both cards, losses are covered up to $1,000 per year. To receive this benefit, you’ll have to pay your cellphone bill with the Mastercard World or World Elite card to get this perk.
  • Mastercard ID Theft Protection: Any World or World Elite cardholders can get this benefit by registering for the service. Cardholders will have access to enhanced security monitoring for their personal information.

What should Mastercard cardholders keep in mind?

The new Mastercard benefits apply only to World and World Elite cards.

World cards include the Bank of America® Cash Rewards credit card, while World Elite cards include the Capital One® Savor® Cash Rewards Credit Card and the Barclaycard Arrival Plus® World Elite Mastercard®, among others.

At the end of the day, these new perks are great news for any World or World Elite cardholder who’s a frequent Lyft, Fandango, Postmates or Boxed user. But before you spend to get the benefits, it’s always a good idea to think about whether you were already planning to make that purchase. After all, some of these new perks can encourage spending.