When you’re searching for a credit card, you’ll often compare rewards, interest rates and annual fees. Another factor to consider is the additional cardholder benefits that are provided by the card network, such as Mastercard.

All Mastercard branded credit cards are assigned a certain tier — Standard, World and World Elite — that provide different levels of added benefits. For example, the Citi Prestige® Card is a World Elite Mastercard. The tier you receive varies by card as well as other factors, such as your credit history and the relationship you have with your card issuer. Typically, higher tiers require higher fees, but you may be upgraded to a more elite tier if you have a good history with your card issuer.

Keep in mind that the benefits listed below may vary by card issuer and may not come with all Mastercard cards. Check with your issuer for complete benefit coverage and the exact terms and conditions. In order to take advantage of the benefits listed below, you’ll need to pay with your eligible Mastercard and activation may be required.

Below, CNBC Select breaks down the benefits that may come with Standard, World and World Elite Mastercards.

Standard Mastercard benefits

Standard Mastercards are the entry-level tier, providing basic purchase protections and access to various experiences. Here are the benefits you may get:

  • Zero liability protection: If someone makes unauthorized purchases with your credit card, you won’t be held responsible. This waives the $50 maximum liability under the Fair Credit Billing Act.
  • Price protection: You may receive reimbursement for purchases that drop in price within 60 days of the transaction.
  • Extended warranty: Receive up to an additional year of warranty protection on most items you purchase.
  • Mastercard Global Service: Receive emergency assistance for reporting a lost or stolen card, getting a replacement card or cash advance.
  • Mastercard identity theft protection: Keeping track of your credit report doesn’t have to be a manual process if you sign up for Mastercard identity theft protection, which monitors and alerts you of changes to your credit report that could indicate fraud, such as new credit inquiries and new account openings. CNBC Select also ranked the best free and paid credit monitoring services that automatically provide daily alerts for new information on your credit report, access to your credit score and more.
  • Priceless™ experiences: Get access to a variety of experiences in entertainment, culinary, sports, travel and other categories.

World Mastercard benefits

Mastercard’s mid-tier level of benefits, World, includes everything you get with a Standard card, plus additional money-saving perks. Here are the features you may receive:

  • Postmates discount: Receive $5 off every purchase of $25 or more, excluding delivery fees, tips and taxes.
  • ShopRunner access: Complimentary membership that offers free two-day shipping and free return shipping at over a hundred online retailers.
  • Priceless Golf experiences: Get access to exclusive golf offers and experiences with the PGA Tour, as well as virtual events.
  • Complimentary professional travel services: Experienced travel advisors are available 24/7 to help you plan trips.
  • Hotel stay guarantee: If you’re not pleased with a 3-star or higher-rated hotel stay, Mastercard will work to make it right.
  • Lowest hotel rate guarantee: If you find a lower price on a prepaid hotel stay, Mastercard may reimburse you the difference.
  • Mastercard luxury hotel and resorts portfolio: When you stay at one of the more than 2,000 Mastercard Luxury Hotel and Resorts, you can receive complimentary daily breakfast, a special amenity worth up to $100 (such as a spa or dining credit), room upgrade, early check-in and late check-out. All benefits are subject to availability.
  • Car, air, cruise and vacation packages: Receive special savings and upgrades when you book a variety of travel.
  • Mastercard airport concierge: Get help arranging a personal agent to escort you through the airport. Plus at certain airports you may be expedited through the security and/or the immigration process.

World Elite Mastercard benefits

World Elite is the highest-tier you can receive and comes with all the benefits from Standard and World, plus more. Here are the perks you may receive:

  • Boxed rewards: Earn 5% cash rewards on Boxed orders that you can redeem for future Boxed purchases.
  • Lyft credit: When you take five Lyft rides in a month, you get a $10 credit (maximum of $10 credit per month).
  • Fandango credit: Each time you buy two movie tickets, you’ll receive $5 off future movie tickets.
  • World Elite concierge: Complimentary 24/7 concierge service that helps you plan vacations, book dinner reservations, find gifts and more.
  • Cell phone protection: If you drop your phone or it’s stolen, you may get reimbursed for up to $800 per claim (maximum two claims per year and $1,000 in yearly coverage). (Check out CNBC Select’s list of the best credit cards with cell phone protection.)

Bottom line

Once you’re familiar with the added perks that come with different types of Mastercards, you can narrow down your credit card search based on the benefits you want. While the exact benefits you receive vary by card, you can confirm the perks with card issuers prior to submitting an application. And regardless of the tier, you’ll still be able to take advantage of Priceless Mastercard experiences and other security features, such as $0 liability protection.

Take note: Due to the coronavirus, many in-person events have been paused. However, certain states may have access to bookings.

Don’t miss: Mastercard launches Shop Openings tool that allows customers to identify nearby stores that are open

Information about the Citi Prestige® Card has been collected independently by CNBC and has not been reviewed or provided by the issuer of the card prior to publication.

Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the CNBC Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.

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