Mastercard Introduces New Benefits With Lyft, Postmates, Cell Phone Protection Across Tons of Cards

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I’ve been a proponent for about two decades for the idea of having at least one each of Visa, Mastercard, and American Express. Entirely apart from a card’s benefits, payment networks often have their own unique benefits and also run promotions in conjunction with travel providers. I always want to be prepared to take advantage of the best offers that come along.

Mastercard has introduced several new benefits to its cards, largely though not exclusively for its premium ‘World Elite’ cards. Fortunately two of the rewards cards I carry are World Elite Mastercards.

  • $10 Lyft credit for every five rides taken in a calendar month once per month to be applied to the next ride for World Elite Mastercard holders.

  • $5 off every Postmates order over $25. for World and World Elite Mastercard holders.

      The Capital One® Savor® Cash Rewards Credit Card offers4% back on dining (and entertainment), 2% at grocery stores, and 1% everywhere else.

      It’s issued as a premium Mastercard and comes with Postmates Unlimited membership, you pay with the card, and get the full monthly membership fee ($9.99) back as a statement credit through December 2019. That gets you a $0 delivery fee on orders over $15 and waives ‘blitz pricing’ and ‘minimum basket fees’. Now it also should get $5 off every order of $25 or more paid for with the card.

  • Fandango double points with World Elite Mastercard, so a $5 credit for every 2 movie tickets purchased through the service.

      I guess this is useful if you buy movie tickets and make your purchases with Fandango. I find I go to the movies less and less often, and when I do go it’s either to an iPic theater (recliner-style seating and upgraded food and beverage) or to a local Alamo Drafthouse for a more niche performance. Their turn off your cell phone video is famous but also NSFW.

  • Boxed 5% rebate towards future purchases with World Elite Mastercards.

      Do people shop with them?

  • Cell Phone Insurance: for both World and World Elite cards when you charge your monthly bill to the card. Maximum liability is $600 (World) or $800 (World Elite) and “covers stolen or damaged mobile phones as well as cosmetic screen scratches even if they don’t affect the ability to make or take a call.” Annual losses are limited to $1000.

      I have a hard time giving up the 5 points per dollar on my Ink Cash card. Citi Prestige has a $1000 limit. Wells Fargo cards come with cell phone coverage, and so does the Ink Business Preferred℠ Credit Card.

      The interesting thing here is that bundling this even with World Mastercards, cell phone coverage becomes pretty ubiquitous and no longer that much of a differentiator.

  • ID Theft Protection personal information monitoring and resolution specialists.

      They don’t seem to promise much here.

For details on benefits of specific cards you may have, Mastercard refers you to the issuing bank, “Applicable banks are beginning to roll out the above benefits; cardholders should contact their issuing bank for additional information.”

Meanwhile Nerdwallet says pice protection and extended warranty from Mastercard get dropped. (HT: Doctor of Credit) Some banks issuing Mastercards may still offer a benefit through another third party.

The (2) World Elite Mastercards I have are:

The challenge is that many of the best rewards cards are from Chase, and Chase has an almost-exclusive relationship with Visa. The only Chase Mastercard I know of is the IHG® Rewards Club Premier Credit Card which currently lets you earn an initial bonus up to 120,000 points: 80,000 after spending $2,000 on purchases within the first three months of account opening and an additional 40,000 bonus points after spending a total of $5,000 on purchases within 6 months of account opening. (Offer expired)

Mastercards, by the way, still work with bill payment service Plastiq for those who want to charge residential mortgage payments to a credit card for the miles (at a 2.5% fee).

About Gary Leff

Gary Leff is one of the foremost experts in the field of miles, points, and frequent business travel - a topic he has covered since 2002. Co-founder of frequent flyer community InsideFlyer.com, emcee of the Freddie Awards, and named one of the "World's Top Travel Experts" by Conde' Nast Traveler (2010-Present) Gary has been a guest on most major news media, profiled in several top print publications, and published broadly on the topic of consumer loyalty. More About Gary »

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Editorial note: any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any card issuer. Comments made in response to this post are not provided or commissioned nor have they been reviewed, approved, or otherwise endorsed by any bank. It is not the responsibility of any advertiser to ensure that questions are answered, either. Terms and limitations apply to all offers.

Comments

  1. If you are ordering in a lot that Postmates Unlimited on the Savor card stacking with the World Elite benefit is quite the killer app.

  2. I would agree its nice to get the Chase points for Lyft, but for small rides I’m tempted by the Master Card credits. Isn’t the Citi Prestige part of this program as well?

  3. Lyft and Fandango both get bonus category points for the Citi Premier card. The Lyft benefit would be better if it matched or approximated the AMEX Plat’s monthly Uber credit, requiring only one monthly transaction. Although the mobile phone insurance benefit isn’t unique, it isn’t commonly offered by Visa or AMEX, and can help cover the annual CC fee.

  4. I just bought a new refrigerator using my Citi Prestige card specifically because it adds 2 years of extended warranty. Since I bought from Costco, and they also add a year of warranty to the manufactuer’s one year, I have a total of 4 years of coverage. I hope this Citi benefit isn’t taken away retroactively.

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