Mastercard Redefines Experience-Driven Credit Card Benefits With Launch of The Mastercard Collection

Mastercard has announced a new suite of enhanced benefits, which the company has branded The Mastercard Collection, and that aim to appeal to cardholder passions.

The research behind Mastercard’s new program indicates to credit card issuers that, for some cardholders, access to unforgettable experiences can trump more traditional card benefits.

Almost 3 out of 4 cardholders report that they feel at their best when they can spend time on their passions, according to Mastercard’s proprietary research. Those passions include artistic ambitions, exploring different types of foods, and immersing themselves in other cultures.

And two-thirds of cardholders say they’re becoming more deliberate when it comes to spending time on the relationships that are most important to them. 

To that end, The Mastercard Collection provides cardholders, their families and friends, elevated benefits for dining, entertainment, and travel experiences.

Foodies will be excited to unlock priority access through Mastercard to award-winning restaurants where reservations can be hard to get.

On the entertainment front, The Mastercard Collection can give cardholders early access to event ticket sales as well as premium seating opportunities. 

And travel enthusiasts can recharge their batteries for the next leg of their journeys in Mastercard’s lounges, which travelers can find in international airports in close to 150 countries. Mastercard also provides fast-track security service at select airports.

Bunita Sawhney, Mastercard’s Chief Consumer Product Officer, said in a press release announcing The Mastercard Collection that the company is thrilled to introduce its new suite of cardholder benefits.

“Time well-spent with people who matter most is truly priceless,” Sawhney said. “Together with issuers around the world, we look forward to granting cardholders and their families access to memory-making experiences wherever they go.”

Credit card issuers who work with Mastercard can market the new benefits, which the company believes will appeal more to affluent consumers, to customers and prospects. 

Mastercard said that, although the shift toward favoring experiences over material rewards can apply to all demographics, it’s particularly true for “the top 30% of earners, who spend more than twice the average cardholder,” according to Mastercard data.

“For financial institutions, capturing this audience’s attention and building long-term relationships is key,” the company said in its press release.

Issuers should note the new rewards program is only available to Mastercard’s World, World Elite, and World Legend cards. You may not be familiar with that last card name. The World Legend Mastercard is a new credit card the company has unveiled to appeal to high-spend cardholders.

Mastercard data reveals that top earners spend more than twice as much as average cardholders.

Mastercard says the World Legend card is the company’s “most prestigious consumer card to date.” The World Legend Mastercard will debut in the U.S. sometime during this year’s third quarter. An international rollout will follow its U.S. release. 

Mastercard issuers looking to differentiate their credit card lineup in a competitive market may have just the ticket they’re looking for in The Mastercard Collection. And issuers that serve a more affluent customer base can especially benefit from the program if it leads wealthier cardholders to become more engaged. 

Engaged cardholders may use their cards more often and for more expensive purchases, increasing customer lifetime value for issuers.