Best Mastercard credit cards for December 2024

• The Priceless Cities travel experience program, an offer unique to Mastercard
• Identity theft protection
• Room upgrades, if available
• Vacation packages
• Airport concierge service

• The Priceless Cities travel experience program, an offer unique to Mastercard
• Identity theft protection
• Room upgrades, if available
• Airport concierge service
• Trip cancellation insurance
• 24-hour concierge
• Exclusive Mastercard discounts on a variety of airlines, travel expenses, entertainment brands and more

Since many cardholders are eager to earn rewards, one consideration for a card’s inclusion in our list is whether it offers impressive rewards value. This includes a card’s average rewards rate, estimated annual rewards earnings, sign-up bonus value and reward redemption value.

To estimate a card’s average annual rewards earnings, we calculate its average rewards rate based on how much it earns in different bonus categories, as well as how closely those categories match the average person’s spending habits. In other words: Does the card earn rewards at a high rate in the most popular spending categories?

We use consumer spending data from the Bureau of Labor Statistics (BLS) to get a reliable third-party measure of people’s spending habits. The most recent BLS data estimates average total spending in 2021 was $66,928 per consumer. We then narrow our focus to which purchases are likely to be put on a credit card and earn rewards, subtracting expenditures like housing, vehicle purchases and education. This gives us a total “chargeable” annual spend of around $22,500.  

This includes the following spending by category:

• Groceries: $5,200
• Dining out: $3,000
• Entertainment: $2,500
• Gas: $2,100
• Apparel and services: $1,700

Using this data, we assign a weighting to each of a card’s bonus categories. For example, a card’s grocery rewards rate receives a 23 percent weighting based on how much of the average person’s budget is spent on groceries. We also estimate the redemption value of points or miles from various issuer, airline and hotel rewards programs.

This weighting and rewards valuation allows us to estimate a card’s average annual rewards earnings — how many points or miles you’d earn with a given card if your spending was about average and you used the card for all of your purchases — as well as what those points are worth. We also use point valuations to determine a card’s sign-up bonus value

With these calculations complete, we assign each card a score based on how its average rewards earnings, sign-up bonus value, rewards rate and redemption value stack up against other cards in its primary category.

The better these values, the higher its score will be, making it more worthy of inclusion in our list.

Here’s a deeper look at the factors considered as part of a rewards card’s “Value” rating:

To start, most cards on this list charge no annual fee.

We also rate all cards based on how their ongoing average APR compares to the average APR you’ll find on other cards in their primary category. However, the impact of an especially high or low APR on a card’s overall score depends on its primary category.

For rewards-earning cards, this factor has only a minor influence on the card’s score and whether the card is included in our list, since rewards card users generally try to avoid carrying a balance. That said, rewards-earning cards may get a solid boost in score and be more worthy of inclusion in our list if they also offer an intro APR on balance transfers or new purchases, since such offers aren’t always present on these cards.

If a card has an annual fee, we consider how its annual fee influences its overall value, as well as how it ranks relative to the fees you’ll find on other cards in the category. Cards with an annual fee will always be at a slight disadvantage in our scoring system since annual fees inherently cut into your rewards value. However, if a card offers terrific value in other ways, such as rewards, perks or credit building opportunities, it can earn a high score and a spot in our list even if it carries a high annual fee. After all, the highest rewards rates and most valuable perks are often found on cards with annual fees.

Other fees considered include cash advance and late payment fees, along with penalty APRs. 

Along with rewards value and cost, we consider other factors that could give cards great long-term value, like flexible rewards redemption and especially unique and valuable perks.

We rate rewards-earning cards based on the restrictions they impose on earning and redeeming rewards and consider this when deciding on a card’s inclusion in our list. 

These restrictions could include only allowing users to earn a high rewards rate on a small amount of spending or requiring users to meet a certain earning threshold before they can redeem rewards. We also examine whether points are worth less when you opt for some redemption options over others and whether a card gives you the flexibility to transfer rewards to airline and hotel partners. 

We also evaluate each card’s perks based on their value, usefulness and uniqueness. Cards that offer top-tier benefits like airport lounge access or travel credits are likely to stand out, but we also aim to highlight cards that offer valuable under-the-radar perks, like cellphone protection or one-off credits for everyday expenses like dining and streaming services.

Mastercard is a credit processing network that partners with credit card issuers to help process credit card transactions. You can get a credit card on the Mastercard network from several different credit card issuers.

There aren’t many glaring differences between the Mastercard and Visa networks. While each has its own benefit tiers, they’re comparable overall. Most differences have more to do with the issuers each network is partnered with.

Mastercard credit cards are accepted worldwide, though retailers may accept certain card networks at their own discretion.