World Mastercard: it's back

THE World Mastercard, initially released in the UK in early 2008, was withdrawn soon afterwards - see if you can guess why.

A premium credit card aimed at higher income consumers the card's press release read: "The New Face of British Prosperity - Bling is Dead, Stealth Wealth Is In".

Ok, so it's not exactly 'Greed is Good' but it hardly captured the national mood and, even though the World Mastercard was actually fairly well suited to middle income users, it was quietly killed.

It's back

Now, seven UK credit card providers have partnered with Mastercard to bring the card back.

Four World MasterCard deals...

	0% Purchases	Rewards
Santander 123 Cashback	0% for 1 mths	Cash back	Apply » More »
Representative Example: 18.9% p.a. variable on purchases. This is equivalent to 22.8% APR representative variable based on a credit limit of £1,200 and including a £24 annual fee. Santander Cards Limited, 2 Triton Square, Regent's Place, London, NW1 3AN.
Capital One World MasterCard	Not offered	Cash back	Apply » More »
Representative Example: 19.94% p.a. variable on purchases. This is equivalent to 19.9% APR representative variable based on a credit limit of £1,200. Capital One (Europe) plc, Registered Office: Trent House, Station Street, Nottingham, NG2 3HX.
Natwest YourPoints World MasterCard	0% for 13 mths	YourPoints	Apply » More »
Representative Example: 17.95% p.a. variable on purchases. This is equivalent to 17.9% APR representative variable based on a credit limit of £1,200. National Westminster Bank PLC, 135 Bishopsgate, London, EC2M 3UR.
RBS YourPoints World MasterCard	0% for 13 mths	YourPoints	Apply » More »
Representative Example: 17.95% p.a. variable on purchases. This is equivalent to 17.9% APR representative variable based on a credit limit of £1,200. The Royal Bank of Scotland plc, 36 St Andrew Square, Edinburgh, EH2 2YB.

And...

• Ulster Bank YourPoints World Mastercard: RBS-owned Ulster offers similar rewards to those with RBS and Natwest.
• Egg World Mastercard: Good rewards but they're no longer accepting new customers since their takeover by Barclaycard in April this year.
• Coutts Purple World Mastercard: Super-exclusive Coutts clearly missed the 'stealth wealth' memo. This card is "available by invitation only" and has a £350 annual fee.

Less than world-ly rewards

When the World credit card was first launched Mastercard claimed that their research had highlighted a group of consumers with a more "considered, discreet and conscience-driven lifestyle".

Apparently these upstanding spenders were itching for single-trip travel insurance and worldwide assistance from Mastercard and customised rewards from their card providers.

Today the customised rewards remain but 'world' is a bit of a misnomer: there's no special travel support from Mastercard although, like all Mastercard holders, World customers can benefit from Mastercard Global Services in an emergency.

Additional reward schemes on offer

So, if not travel rewards, what do World Mastercards offer?

Cash back

Both Capital One and Santander offer cash back deals.

The Santander 123 credit card offers cash back at the following rates: 1% on all supermarket spending; 2% on all department store spending and 3% cash back on fuel purchases.

Currently Capital One offers 5% cash back for the first 99 days (to a £100 max reward) and then up to 1.25% thereafter on a tiered based spending scheme.

The Capital One World MasterCard credit card also offers potential access to a high credit limit, free identity theft service, free credit reports offer and the extra protection it offers on purchases.

YourPoints scheme

The Natwest World MasterCard, RBS World MasterCard and Ulster bank World Mastercard offer the YourPoints reward scheme, as well as 0% on purchases.

YourPoints is a high street shopping voucher reward scheme with high street brands such as M&S, Amazon and Boots among others.

Super-rich rewards

The Coutts credit card, of course, stands out way past either of these day-to-day deals.

The World Concierge Service offers cardholders help with just about anything their hearts' desire, annual travel insurance - including unlimited trips up to 93 days each and 28 days' winter sports cover - and a priority pass that offers access to over 600 executive airport lounges worldwide.

Who can get a World MasterCard?

All World Mastercards have different application criteria but these are premium products and consumers will need excellent credit ratings to apply.

For example, the Capital One World MasterCard credit card is available to people aged 21 or over, who earn at least £20,000 per annum and have an 'excellent credit rating'. Homeowners are preferred.

Natwest or RBS applicants will need to be aged 18 or over and earn at least £10,000 per year.

Basically, though, the World MasterCard is MasterCard's attempt to further establish itself among affluent consumers but, in the process, they've created a credit card that can offer substantial rewards for any good-earners with good credit ratings.

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