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MasterCard Credit Card Benefits
- Airport Lounge Access
- Luxury Travel Benefits
- Travel Assistance Services
- Roadside Assistance
- Travel MC Global Service
- Baggage Delay Insurance
- Car Rental Collision Damage Waiver Insurance
- Hotel/Motel Burglary Insurance
- Lost or Damaged Luggage Insurance
- Travel Accident Insurance
- Trip Cancellation Insurance
Other Credit Card Benefits
Available MasterCard Credit Cards
The evolution of credit usage as a medium of payment has indeed come a long way from 1951 when the first credit card was issued by Franklin National bank (now European American bank). Credit card usage has grown in leaps and bounds. MasterCard is one of the major players, second to Visa in the credit card issuing industry achievements in attaining the second major credit card position is due largely to aggressive marketing strategies.
The marketing strategies carried out by MasterCard cause the company's brand to be accepted globally especially in the advanced countries like America, Japan, China, France, United Kingdom, etc. African countries are not left behind in this great train of inventions except that in third world countries, a debit card instead of a credit card is issued. MasterCard happens to be in a league of its own, quite distinctive from its resolute rival Visa. This article will take a look at the trend in the growth of MasterCard with major focus on their experiences, promotional strategies, and savings motives.
MasterCard, since its inception into the world of credit card billing, has become so popular and the favorite of many card holders worldwide. The initiative to create a service/product that will be within the reach of the less privileged as opposed to the rival focus on the upward moving elites in society was probably the magic wand responsible for the fast growth of the company. The name MasterCharge was dropped for MasterCard in 1979.
At the time of MasterCard's introduction into the world of credit card usage, Visa was dominating the market and thus it became a driving force to rise above Visa market dominance.
The following were the efforts carried out by MasterCard to achieve this aim -- it also doubles up as marketing or promotional strategies adopted by these institutions.
Between the mid to late 70s, access MasterCard was joined by the big blocs in society like the standard chartered bank from South Africa, access from United Kingdom, and the first Australian association. However this move became counterproductive as MasterCard surprisingly experienced a downturn no thanks to the rivals obviously more successful development campaigns. In response to the decline experienced by MasterCard despite huge attempt for growth, the ICA in a bid to curtail this discouraging event advised the then president Mr. J. Reynolds to execute much needed and belated changes, Reynolds of course acted accordingly but since his efforts did not lead to a corresponding positive change in market share, the board of directors made a move to have him replaced by Russell Hogan.
The new president resumes duty and proceeds to achieve the lofty goal of competing suitably, even outperforming Visa. He put in place so many strategies which met with so many stiff competitions. For no reason, he resigned and Alex Hart took his place. Under him, MasterCard in 1981 introduced the gold MasterCard and MasterCard travelers cheques. These innovative moves gave birth to other development strategies like MasterCard ATM network in combination with CIRRUS to introduce MasterCard/cirrus ATM network hence providing cardholders in over fifty thousand locations globally with the ability to have a right to cash their money any time and anywhere they want it. This combined with the initiative of making MasterCard the official card for the 1990 FIFA World Cup games made the card achieve well deserved global and brand recognition.
Offers and Other MasterCard Experiences
MasterCard has indeed come a long way in the cannibalizing effort and strategies to overtake Visa, and they are still and gradually gunning for that goal. They have successfully created a brand among users. Apart from credit card billing services, MasterCard efforts also extend to insurance policy services such as hotel/motel, trip cancellation, car rental collision waiver, etc.
Also cardholders have great access to other valuable upgrades, deals from expensive outlets, and high class internationally recognized hotels and resorts. With your MasterCard, you have express entrance to a variety of places such as high brow restaurants, book seats for concerts, incredible elusive sold out shows at cinemas, theaters, sporting events, and many other upgrades.
Saving motives is one of the developmental strategies adopted by MasterCard to outwit other credit card rivals and it has to do with targeting the common people through providing affordable services that anyone can afford. The rates charged for services are relatively cheaper than the ones offered by Visa. For instance, the rates charged when one pays for product and services like baggage delay insurance with their premium or gold MasterCard is very affordable.
MasterCard, as a major formidable card issuing company, has indeed come a long way. The wise marketing choice of offering low payment rates with good quality services endears them to both sides of the market.
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