Posted by Chuck on October 15, 2019
Credit Cards

Published on October 15th, 2019 | by Chuck

165

Mastercard Overhauls Card Benefits – Full Details: $10 Lyft Credit, Cell Phone Insurance & More; Other Benefits Removed (Chase IHG)

[10/15/19: Chase has sent out an e-mail to cardholders about benefits changing. One of those benefits being added is cell phone insurance. This is actually part of these Mastercard changes]

[6/27/19: Reposting as the new terms go into effect soon. Many people are getting notices from various banks about changes to their Mastercards which are predicated on the changes listed below.]

Mastercard World and World Elite cardholders in the U.S. will get new benefits, including a monthly $10 Lyft credit when you take 5 rides, 500 Fandango points for every 2 movies purchased, 5% back at Boxed.com , and $5 off $25 at Postmates. These benefits begins today. Cardmembers will also get cell phone insurance beginning July 1. These benefits are valid on consumer Mastercards only.

Press Release link

Lyft

Lyft: 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, capped at once per month.

  • You need to enroll for this offer. You’ll find the enrollment option in the Lyft app. Update your app if you don’t see it. You may need to update your Lyft app to enroll. Or, you can click here to enroll (must click from your mobile device).
  • The rides must be paid for with a Mastercard World Elite credit card (including Apple Pay or Google Pay if your Mastercard World Elite credit card is the funding source).
  • An “Eligible Ride” is any Lyft ride types, excluding business rides and bicycle and scooter rental rides.
  • Valid only in the USA.
  • Credit expires 30 days after application. Credits may take up to 2 days to be applied to your Lyft account.
  • You’ll see a tracker in the Lyft account showing your progress toward the $10 benefit.
  • I’m unsure if you can get the benefit more than once by having more than one Mastercard saved with Lyft (probably not).

 

Fandango

Fandango: World Elite cardholders will earn double Fandango VIP+ points for the movie tickets they buy. This means cardholders will get 500 Fandango VIP+ points (worth $5) for every two movie tickets they purchase via the Fandango app or Fandango.com, which can be used towards purchasing movie tickets on Fandango or towards streaming movies and TV shows on FandangoNOW.

  • $5 discount promo code will expire 21 days after posting to your account (90 days for Fandango VIP members).
  • $5 discount promo code can not be combined with other offers.
  • Purchases made using an electronic wallet may not qualify for this benefit.

Boxed

Boxed: World Elite cardholders will earn 5% Cash Rewards on their Boxed purchases, which can be used towards future purchases on Boxed.

  • Looks like this is a Boxed credit, not a statement credit. There doesn’t seem to be any enrollment; I guess the system automatically recognizes World Mastercards and gives you a Boxed credit of 5% to be used toward a future purchase.
  • Future accruals of Cash Rewards currently limited to valid World Elite Mastercard® United States consumer cardholders.
  • Beginning at 12:00AM ET on 4/15/19 and ending 11:59PM ET on 4/01/20 or such earlier date as the Offer is terminated by Mastercard and/or Boxed, customers using an eligible World Elite Mastercard could earn 5% in Cash Rewards on the total amount of every purchase made at Boxed, excluding taxes and governmental fees, shipping and handling charges, discounts on account of any applicable Promotions and/or Promo Codes, the application of any accrued Cash Rewards and alcoholic products.
  • Cash Rewards not redeemable or accruable in connection with prior purchases, Express orders, Boxed Hotels, gift cards, alcoholic products and other items fulfilled by third-parties.
  • To be eligible for this benefit, you must use a valid consumer World Elite Mastercard® issued by a U.S. financial institution.
  • New customers must create an account to accrue Cash Rewards.
  • Customers must use an eligible World Elite Mastercard to earn Cash Rewards.
  • Maximum of $500 in Cash Rewards can be accrued per calendar year.
  • Purchases made using a World Elite Mastercard through wallets (excluding Venmo and PayPal) will qualify for this offer.
  • Cash Rewards may not be combined with other Cash Rewards offers from Boxed.
  • Cash Rewards expire twelve (12) months from the date earned unless (i) redeemed in accordance with the redemption rules; or (ii) additional qualified purchases are made prior to the expiration of the Cash Rewards in your account, in which case all unexpired Cash Rewards in your account will be renewed for an additional twelve (12) month period from the date the qualifying renewal activity occurred.

Postmates

Postmates: World and World Elite cardholders will receive $5 off every order of $25 or more.

  • The $5 discount comes off directly at checkout when you order $25+ and pay with the Mastercard World card. There doesn’t seem to be any enrollment; I guess the system automatically recognizes World Mastercards and gives you the $5 discount. This works nicely with the Capital One Savor benefit which reimburses your fee on Postmates membership.
  • If you are using your World or World Elite Mastercard® via Apple Pay or Android Pay, the $5 discount will be applied and shown once the order has been picked up by a Postmate. It will also be shown on the email receipt for confirmation. Also confirmed as working with Samsung Pay

Cell Phone Insurance

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. This benefit—with a maximum liability of $600 per claim for World cardholders and $800 for World Elite cardholders—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. Cardholders simply have to submit a claim if they incur a loss, up to $1,000 per year.

Benefits Being Removed

Mastercard is also removing now a few benefits as well:

It was always difficult to follow Mastercards benefits on these fronts as it varies so much by card and card issuer. Also, most major banks already have their own extended warranty coverage so that’s not a big loss.

List of World Elite Cards

Here’s a partial list of World and World Elite Mastercards:

  • Barclay Arrival Plus World Elite
  • Citi Prestige World Elite
  • Citi Premier World Elite
  • Citi Double Cash World Elite for some people
  • Citi AT&T World Elite
  • Capital One Savor and SavorOne World Elite
  • Capital One QuickSilver World Elite for some people
  • American Airlines AAvantage Platinum and Executive and Aviator World Elite
  • Virgin Atlantic World Elite
  • Hawaiian Airlines World Elite
  • Lufthansa Miles & More World Elite
  • (Bank of America World)
  • (Citi Dividend World)

Our Verdict

The Lyft benefit and the cell phone insurance are the ones that stand out for me. Others found the Postmates benefit interesting. I’m sure other people will have different benefits they find interesting.

The Lyft benefit can easily add $120/yr of value to the card for those who use ride-share often. The cell phone insurance brings that benefit within the grasp of most of our readers whereas previously it was limited to only a few cards which not all of us have.

The press release is confusing because it starts off saying that all of these benefits are for both World and World Elite cardholders, then it indicates that only the Postmates and cell phone benefits are for both while the Lyft, Fandango, and Boxed benefits are only for World Elite cardholders. I’m unsure which is accurate.

Just clarifying here one point since many readers in the comments got confused by this: each bank/card may have its own individual benefits, irrespective of the generic Mastercard benefits. Any negative changes mentioned in this post will not affect you if the bank offers that benefit. For example, while Mastercard removed their extended warranty benefit, Citi credit cardholders will continue to enjoy the benefit (on most of their cards) since the bank still offers them. On the flip side, the increased cell phone protection should probably apply even to Citi credit cards which do not show them in their terms from the bank as you can file a claim with Mastercard (Citi may eventually update their terms to include the benefit as well).



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LDoc
LDoc

Lyft credit alone makes my Arrival+ a keeper card now.

Frito Pendejo
Frito Pendejo

What if you pay your spouse’s cell phone bill with your Mastercard, does the insurance apply?

Jace
Jace

Usually the fine print will say that the phone has to be on your account. I would read carefully before trying this.

Sam
Sam

I don’t know how to send in tips but i just got an email from marriott to buy points at a 25% discount, up to 50k points. Expires May 15th. 50k = $468.50

Celia
Celia
Geo
Geo

Boy that’s an expensive 50k tier hotel room.

Mark
Mark

But four 12,500 rooms might be worth it. Or 7500-10000 if you have them in your area.

Shiv Kumar
Shiv Kumar

Everyone seems to be removing price protection so I guess it was just a matter of time. Extended warranty is a huge loss, but I guess it’s fine if the individual issuers have it still. Substuting it in for cell phone insurance makes up for it for some people I guess.

Reza
Reza

For me this is a positive change. I rarely used price protection and extended warranty, but almost all new benefits are useful and practical in my opinion. I had a citi double cash world which they upgraded to elite and I’m more happy for the upgrade now!

Kuso29
Kuso29

MC adding benefits while Visa branded ones remove

Electroman

There are MC benefits being removed – it’s in TFA.

Intl churner
Intl churner

jetblue plus card as well

AJS
AJS

Thanks for this

Froide
Froide

And IHG Platinum

Morris
Morris

So is this the end of Citi Price Rewind? Or is that a Citi benefit unrelated to MC?

Olympia
Olympia

Price rewind is also going away.

KLUE
KLUE

I’ll try it next time I take a lyft, but I wonder if it’ll track through Free bird rides?

Thomas
Thomas

no shit it will. youre calling a lyft ride not a free bird ride. just like you get delta points.

Rocky
Rocky

Bofa Cash Rewards Master card is a keeper now, with 3% choice of cashback every month.

Andrew
Andrew

Man, the 10% bonus on AA award miles removed and now extended warranty removed, AND a small increase in AF not too long ago. I find myself using the card less and less (really only hold it since it’s my oldest credit card). Last time I used it was to put a large purchase on it because I specifically wanted it covered with extended warranty… guess I’ll use it once or twice a year at a vending machine to keep it active.

Lrdx
Lrdx

Switch to Double?

Snorlax
Snorlax

or Miles Up?

GGBG
GGBG

Any word on the effective date for removing Price Protection?

Jags
Jags

Does this mean 2 year extended warranty and Citi Price Rewind are gone for Citibank cards or is that a Citibank offering, not a Mastercard offering that Citibank takes part of?

If those benefits remain and these benefits are added then people with World Elite Double Cash cards hit the jackpot.

I wonder if banks need to pay to participate in these new benefits similar to how not all Visa Infinite cards have all Visa Infinite benefits ($100 airline credit for example). If that’s the case I assume they won’t be coming to no annual fee World Elite cards…

Kent
Kent

Wondering the same about Citi’s 2-year extended warranty, as that’s one of the only reasons I use my DoubleCash card for bigger purchases. If not, I’ll have to start using Amex for those purchases, which will require paying for a manufacturer 2-year warranty in order to get 2 years more from Amex.

satellite
satellite

Would like to know too. 2yr extended warranty is one of the reasons I would keep my Citi Premier. It would be awesome if those perks are not lost while gaining cell phone insurance.

Sam
Sam

I absolutely HATE this. A bunch of very specific obscure useless things that have zero relevance to me, whose costs will be passed on to me anyway. I can choose cards with the features I want (i.e. straight-up cash back) and avoid cards with a laundry list of miscellaneous rubbish like this. But it’s hard to avoid Mastercard itself. This is a bad development.

Even for people who can use these, they end up like hamster on a treadmill, running around with an endless list of chores and errands, just trying to get every last little “reward”, reacting to all the Pavlovian bells and whistles, following the agenda someone else has programmed for you. What kind of life is that?

Josh
Josh

You seem fun!

Sam
Sam

… and your father smelt of elderberries!

JMR0303
JMR0303

I mean, there’s no shortage of Visa and AmEx cards out there if MasterCard doesn’t suit you. Also this only applies to World and World Elite so if you end up with a regular one, it doesn’t apply to you either.

Will Ryan
Will Ryan

Actually the ones paying for this stuff are those that carry a balance and pay interest, and those who pay cash or use debit cards. All these rewards are financed primarily by those two groups.

Theoretically your straight cash rewards would be even better without this stuff, though.

Geo
Geo

Sounds like a cash envelope system might be best for you, Sam! You can even get a discount on bulk envelopes at Staples and create as many envelopes as you want!
Added bonus – no worry about missing a credit card payment!

CM

I have two old Capital One Quicksilver cards that are both World Mastercard.

Not too excited about these benefits — I don’t use rideshare personally, and having to take 5 rides in a month to get the 10 bucks in credit would be quite a stretch for me, although it appears that the credit itself, once gotten, might also be used for scooters?

Jim
Jim

Just call uber and they will match and give you $20 credit! $10 for 5 Lyft ride is junk

Millennial Outrage

FWIW, Lyft scooter rides always charge my card and don’t use my GC balance.

Joe
Joe

Same here.
Quicksilver was upgraded a few months ago from platinum to world elite.
Chuck

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