Master Card Credit Card

Current offers on credit cards, MasterCard included, change constantly. In 2010, credit card deals aren’t nearly as attractive or plentiful as they used to be. Even for those with excellent credit (750-850), lenders are cutting back on everything from cash back to sky miles. As with Visa, an impressive FICO score is the only way to access the best Master Cards. There are a few reasonably tempting offers for those with fair credit (650-690) but they’re few and far between. Prepaid MasterCards are available to everyone.

Citibank is the largest issuer of Master Card credit cards. A popular choice is the Citi Cash Returns Credit Card. Master Card offers don’t get much better than 1% cash back on all purchases, a 7-15 month 0% APR on balance transfers, a 3% balance transfer fee, and $5 cash back on each balance transferred. You’ll need at least good credit (690-750) to qualify; your score will determine the regular APR you’ll pay, and the length of time your 0% APR will be in effect.

Another appealing MasterCard is the Chase Freedom. With excellent credit, you’ll get a 6-month 0% APR on purchases, a 12-month 0% APR on balance transfers, and 1% cash back on all purchases. Balance transfer fees of 5% will apply.

If you’re looking for decent travel rewards credit cards, MasterCard FREE SPIRIT Onyx World Card from Barclays Bank currently offers a heaping 15,000 bonus miles after your first purchase, enough for three off-peak round-trip tickets. You’ll also get a 0% balance transfer APR for six months, one mile for every $1 purchase, and up to 10,000 additional miles for balance transfers. Miles never expire and, although the card comes with a $69 annual fee, it’s waived for the first year. Balance transfer fees of only 3% apply for the first six months with a maximum fee of $50. After that, the fee goes up to 4% and there’s no maximum. Excellent credit is required.

With fair, new, or no credit, the American DreamCard MasterCard from HSBC offers a unique perk with cash sweepstakes of up to $25,000. You get 1,000 entries if your application is approved and, instead of cash back, purchases earn you entries into the monthly prize drawing. You’ll be charged an annual fee of from $0-$59 based on your credit history.

Another option with fair credit is the Bryant State Bank MasterCard. The current balance transfer offer is a 3.25% APR for six months, 11.25% variable interest after that, and an annual fee of $20. There’s no rewards program but there’s no balance transfer fee either.

With the exception of the Bryant State Bank Master Card, current interest rates on credit cards are based entirely on your credit score. Credit card interest rates can also vary according to fluctuations in the prime rate. The terms and conditions attached to credit cards, MasterCard offers included, are increasingly defined by your credit history. Now more than ever, it’s important to keep that FICO score as high as possible with a squeaky clean credit history.