MasterCard from MasterCard Incorporated is one of the most useful payment systems in the world. Founded in the year 1966 and headquartered in Purchase, New York, it is the number two payment system in the US. It serves around 25,000 member financial institutions all over the world.
It has a wide network with its services in over 210 nations of the world. And to talk about statistics, there are over 23 million locations around the world where its credit and debit cards are accepted. To add to the statistic, there are about 1,000,000 ATMs in more than 120 countries. It provides transaction authorization network and establishes and issues guidelines to its members.
To add a little of history, MasterCard brands of credit cards were first issued by United California Bank, the Bank of California, Wells Fargo, and Crocker Bank. That was also the time when Bank of America came out with its credit card brand BankAmericard, which later became the Visa Card. The stiff competition that we see today between MasterCard and Visa Card can be traced back to those early days.
Like BankAmericard, MasterCard was first known as Master Charge. California banks licensed this name from the First National Bank of Louisville, Kentucky in 1967. Then another development took place when the present HSBC Bank USA which was known as New York's Marine Midland Bank at that time, joined hands with California banks to create the "Master Charge: The Interbank Card". In the year 1979, "Master Charge: The Interbank Card" was renamed as MasterCard.
The latest development happened earlier this year in 2006, when MasterCard International was re-christened as MasterCard Worldwide. And as the name suggest, the exercise was done so as keep in line with its ever widening global network. It also came out with a new corporate logo and a new tagline. An additional circle was added to the already existing two. "The Heart of Commerce" is its new tagline.
Apart from MasterCard, Maestro, Cirrus and MasterCard Electronic; MasterCard Incorporated also deals in travelers’ check. All these programs are licensed to the financial institutions.
The leading shareholders of MasterCard are JPMorgan Chase, Citigroup, Bank of America, Euro Kartensysteme, and Europay France. Of these JPMorgan Chase has the largest shareholding with 11.8 percent followed by Citigroup with 6.2 percent, Bank of America with 6.0 percent. Euro Kartensysteme has 5.2 percent, while Europay France has 5.0 percent stake.
MasterCard's board of directors as of December 2004 are represented by Europay España, S.A., Clarima Banca, Capital One, HSBC, Citigroup, Banamex (Citigroup's Mexican division), The Royal Bank Of Scotland, MBNA America, which is now acquired by Bank of America, Southern Bank Berhad, Banque Fédérative du Crédit Mutuel, Westpac Banking Corporation, Deutscher Sparkassen-und, Bank of Montreal, Giroverband, and Orient Corporation.
Among the brands, the most popular are the MasterCard brands of credit and debit cards. Its credit cards have all the standard feature of any other credit card and are designed to meet the credit demand of all kinds of individuals. Its debit cards are used in ATMs to withdraw money and also at point-of-sales, provided there is enough balance (remaining credit limit) to purchase the item. MasterCard distributes MasterCard debit card in North America under the name ‘MasterMoney’.
MasterCard credit cards have one of the most reasonable Annual Percentage Rates. Other features like annual fee, credit limit, introductory offer, reward program are also attractive enough to entice potential customers. No doubt, it is one of the leading payment systems in the US.
MasterCard also has a round-the-clock customer assistance service. In case of loss or theft of card, you can report immediately to its toll-free numbers. If you are in the US, you can note down this number, 1-636-722-7111. If you are a regular traveler, it is worth to note down the assistance number of the country you are going to visit.
The latest service from MasterCard is MasterCard® SecureCode™. This service is meant to boost the protection system when you shop online.

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Credit cards have had a big impact on our lifestyle. And with the popularity of online shopping fast on the rise, the significance of credit cards is expected to increase even more.
Also known as plastic money, credit cards are a replacement for cash. It is much easier to fit this small card inside your wallet than to carry a large amount of cash. Better still, you can buy items with credit cards and if you need cash, you can always withdraw it from an ATM.
One of the international market players leading this payment system is MasterCard. MasterCard credit and debit cards are the brands marketed by MasterCard Incorporated. MasterCard with its network spread in about 210 countries across the world is one of leading credit cards in the world and the number two payment system in the US.
The MasterCard credit cards are quite popular as a premier brand. Simply known as MasterCard, they are one of the most preferred and trusted credit cards with the consumers. MasterCards are issued by several partner banks and are designed to target different financial and credit situations.
MasterCards, like other credit cards, are of four types: standard credit cards, credit cards with rewards programs, specialty credit cards, and credit cards for bad credit.
Standard credit cards are readily available and issued. They are also the most common form of credit cards. Credit cards with rewards programs are offered for the benefit of certain section of people. You get rewards in terms of points or discounts when you purchase items with your MasterCard. Credit cards for bad history are secured credit cards designed for those customers with a poor credit history. Giving special attention to students and people in big businesses, MasterCard issues special credit cards suiting their credit requirement.
JPMorgan Chase and Citigroup are the two largest shareholders of MasterCard. The following credit cards are some of top brands from MasterCard:
Citi® Platinum Select® Card has climbed the popularity chart with its 0% APR on balance transfers and purchases for 1 year. The regular APR is also very reasonable at 11.24%. Another enticing feature is its free and secure online account management. It also carries no annual fee.
With Citi® Diamond Preferred® Rewards Card, you can earn 5,000 bonus points after the first purchase. Also get 5 reward points for every dollar on purchase at supermarkets, gas stations and drugstores. This reward card from MasterCard is worth its 13.24% regular APR. There is also a 0% APR on balance transfer for 12 months.
If you are looking at additional benefits and perks, MasterCard has HSBC Platinum MasterCard. Some of the benefits offered are extended warranties, unlimited purchase protection, and travel accident insurance. It carries no annual fee. There is no APR on both purchases and balance transfers for 12 months. The regular APR is 11.24%. Other benefits are free online bill payment, secure and free online account management.
For music lovers, MasterCard has Universal Entertainment MasterCard®. Cardholders can earn 1 Universal Point for 1 dollar spent on purchases and 2 points on select purchases made at Universal hotels, theme parks, and resorts and redeem those points for Universal products such as DVDs and CDs and also admission at theme parks. There is no APR on balance transfer for up to 6 months. The regular APR is 13.99%.
For people who love to sit behind hot wheels can opt for GM Card®. With this card you can earn 5% toward the purchase or lease of a new GM car, truck or SUV. There is 0% introductory APR for 12 months. Free and secure online account management is also offered.
Other popular credit cards from MasterCard are Universal Entertainment MasterCard®, Continental Airlines World MasterCard®, and Marathon® Platinum MasterCard® from Chase.