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Here's the difference between Standard, World and World Elite Mastercards

All Mastercards are assigned a certain tier — Standard, World and World Elite — that provide different levels of added benefits. CNBC Select breaks down the benefits of each.

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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.
  • Mastercard Global Emergency Services: Receive emergency assistance for reporting a lost or stolen card, getting a replacement card or cash advance.
  • Mastercard ID 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™ Cities Offers & Experiences: Get access to a variety of experiences in entertainment, culinary, sports, travel and other categories.
  • Mastercard Golf: Receive access to golf offers and experiences with the PGA Tour for World Elite cardholders, as well as a Golf Concierge Service to access other golf benefits available.
  • Mastercard Airport Concierge: A paid meet-and-greet service that helps passengers with arrivals, departures or changing planes at more than 450 airports around the world.

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:

  • DoorDash: Cardholders who are new to DashPass, DoorDash's subscription program offering members unlimited free delivery fees and reduced service fees from thousands of restaurants, grocery and convenience stores on orders over $12, get a free 3-month membership. All new and existing DashPass members will automatically get a $5 discount on their first two orders every month. Simply pay with your consumer World or World Elite credit card to benefit through September 30, 2022.
  • HelloFresh: Earn 5% back on each HelloFresh purchase that you can later use towards future orders. New HelloFresh customers will also receive a discount off their first few orders.
  • Lyft credit: Automatically receive a $5 credit for every three Lyft rides taken in a calendar month. The credit will be automatically applied to the next ride, capped at once per month.
  • Cell phone protection: If you damage your phone or it's stolen, you may get reimbursed for up to $600 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.)
  • ShopRunner access: Complimentary membership that offers free two-day shipping and free return shipping at over a hundred online retailers.
  • Mastercard Travel & Lifestyle Services: Makes travel arrangements for cardholders. Provides a suite of benefits, amenities and upgrades, preferential treatment and premium travel offers from best-in-class travel companies across hotels, air travel, tours, cruises, car rentals and more. When booking hotels through Mastercard Travel and Lifestyle Services, you also receive a hotel stay guarantee, where Mastercard will work to remedy a 3-star or higher-rated hotel stay that didn't meet your expectations. Plus the lowest hotel rate guarantee may provide you with a reimbursement for a lower price that you found on a prepaid hotel stay.

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:

  • Fandango credit: World Elite cardholders receive a $5 Fandango reward for future Fandango purchases for every $20 spent on digital movie rentals and movie ticket purchases.
  • 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 damage 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.)
  • Mastercard Travel & Lifestyle Services: Makes travel arrangements for cardholders. Provides a suite of benefits, amenities and upgrades, preferential treatment and premium travel offers from best-in-class travel companies across hotels, air travel, tours, cruises, car rentals and more. When booking hotels through Mastercard Travel and Lifestyle Services, you also receive a private car service, which features savings on limousine services around the world at 20% off the standard price. Plus the private jet program, which offers discounts from private jet charter operators Skyjet and Vitesse Worldwide.

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 Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.