MasterCard's World and World Elite Benefits: Updated for 2019
Mastercard's World and World Elite Benefits - 2019 Update
Mastercard has added some interesting and valuable new perks to all U.S. World and World Elite consumer credit cards. Mastercard states that these new perks will be core benefits, no matter which bank issues your card. Also, keep in mind that these new core benefits are in addition to any benefits you already have. Mastercard also advises that issuers may choose to supplement these benefits, so it’s suggested to contact your bank for additional info before attempting to use the perks. Among these new benefits you will get cell phone insurance and promotions with digital brands including Lyft, Postmates, Boxed and Fandango. If you are going to be spending money with these companies, make sure you switch your purchasing method over to your Mastercard! The new perks include:
Lyft: Lyft is a transportation network company which offers ridesharing, car services, as well as bicycle and scooter sharing via a mobile app. World Elite cardholders will receive a $10 credit for every five rides taken in a calendar month, which will be automatically applied to the next ride. This credit is capped at once per month. The rides must be paid for with your World Elite Mastercard and must be an eligible ride excluding business rides, bicycles, and scooters. This offer is only valid in the U.S. The credit expires in 30 days and it may take 2 days to receive it.
Fandango: Fandango is a ticketing company that sells movie tickets via their website and mobile app. World Elite cardholders will earn double Fandango VIP+ points for the movie tickets they purchase with their World Elite Mastercard. This means the cardholder will receive 500 Fandango points (worth $5) for every two movies they purchase via the Fandango app or on Fandango.com. These points can be used toward purchasing movie tickets on Fandango or towards streaming movies or TV shows on FandangoNOW. This perk is unlimited, but the $5 reward will expire in 21 days after posting and cannot be stacked with other promotions when applying it to your Fandango purchase.
Boxed: Boxed is an online wholesale retail store similar to Costco or Sam's Club, but only online. World Elite cardholders will earn 5% Boxed "cash rewards" on their Boxed purchases when made with their Mastercard, which can be used toward future purchases on Boxed. The credit is a Boxed credit only, not a statement credit on your Mastercard. A maximum of $500 in "cash rewards" can be accrued per calendar year. "Cash rewards" expire 12 months from the date earned. Cardholders will not earn 5% "cash rewards" on express orders, Boxed hotels, gift cards, alcohol products, and other items fulfilled by third-parties. This is only eligible for U.S. card holders.
Postmates: Postmates is a mobile app network of couriers who deliver food goods to you. World and World Elite cardholders will receive $5 off every order of $25 or more. The $5 discount comes off of your bill at checkout when your order is $25+ and you pay with your Mastercard. This perk is unlimited.
Cell Phone Insurance: World and World Elite cardholders will be eligible for Mastercard Cellular Telephone Protection when they charge their monthly telephone bill to their World or World Elite Mastercard. The maximum liability coverage is $600 per claim for World and $800 per claim for World Elite. The maximum coverage is $1,000 per calendar year. So if you are a World Elite cardholder your second claim within the same year will only cover $200. This insurance also covers stolen or damaged mobile phones. Even cosmetic screen damage or scratches are covered even if they don't affect the functionality. Cardholders just need to submit a claim if they incur a loss.
Final Point and Valuation
If you want to try something new or are an avid user of any of these brands there can be significant added value within your Mastercard with the above new benefits. If you use Uber, or any ride service app often, the Lyft perk may be a reason to switch to specifically using Lyft. This benefit can easily add $120 value annually. The same logic goes with Postmates. If you find yourself ordering a $25+ meal often, the unlimited Postmates perk could bring exponential savings. If you see one movie a month and pay for your date, that could accrue $60 in Fandango savings annually. Cell phone insurance is very rarely seen provided with a credit card and even more valuable that you can get it with a no annual fee card such as the Citi Double Cash. With mobile phones costing over $1,000 now-a-days, having a little more peace of mind while handling it is definitely noteworthy, especially because the insurance covers screen scratches. Combining all of these new perks and benefits, you will have an even easier time offsetting some of the more expensive annual fee Mastercards including the Citi Prestige and Citi American Airlines AAdvantage Executive World Elite.