Check out MasterCard's first new logo in 20 years

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Mastercard goes digital

MasterCard revealed its first new logo in 20 years on Thursday.

A press release announcing the change calls the new customer-facing logo a "modernized and simplified update" to the red and yellow circle logo MasterCard branding consumers are used to seeing. The card issuer name now appears below the circles in a black font instead of the white overlay that had been part of the brand's identity for decades.

"To thrive in this new digital world where business moves faster than ever, we want to modernize and elevate the brand in a design that is simple and elegant, yet unquestionably MasterCard," Raja Rajamannar, MasterCard chief marketing and communications officer, said in the release.

MasterCard's-new-logo

Image courtesy of MasterCard

They also noted that the update keeps branding the same across all their channels and devices, and said it is the most "comprehensive brand design system ever introduced globally within MasterCard."

According to an email from a MasterCard spokesperson, the new logo will be rolled out across MasterCard-branded services over time, starting with the website, communications and its Masterpass program this month, and then other introductions of the new logo on branded credit, debit and prepaid programs.

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1. Volkswagen

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2. Blackberry

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3. American Apparel 

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4. Cosi

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5. Aeropostale 

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6. Sears

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7. Kobo

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8. Budweiser

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9. Sports Authority

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10. Whole Foods

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Getting a Credit Card

No matter what the logo looks like on any credit card you use, having a credit card — so long as you're using it responsibly — can help you build credit. Building and maintaining good credit can benefit you when it comes time to get your next credit card or apply for a loan in the future, as it may help you qualify for better terms and conditions. It's a good idea to monitor your credit as well so you can see how your payment history and debt usage are affecting your scores. You can see two of your credit scores for free, updated each month, on Credit.com.

RELATED: Important tips to teach your kids about saving money

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Play money-centered board games or games on apps, like Monopoly or Money Race.
It's an interactive and fun way for your kids to learn about basic financial practices without feeling like they're being lectured.

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Give them an allotted amount of cash to spend on lunch each week.
Your child will learn how to budget accordingly throughout the week, figuring out how to balance spending money on food some days vs bringing their own on other days (something that can be directly translated into the adult workplace).

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Have them write down or tell you their absolute dream toy.
Then, show them that it's possible to have that toy if they save x enough money for x amount of weeks.

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Give them an allowance.
 

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Stick to a set time and date each month for giving your child their allowance.
Practicing giving your children their allowance every other week or on certain dates of each month will help them prepare for set paydays in the working world--it will teach them to budget out and how to know when to save up in anticipation.

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Match your child's savings each month.
This will imitate a 401K and show your child ways in which saving can (literally) pay off.

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Have your kid organize their funds in to different jars to represent different accounts.
Examples could be "Saving", "Spending", "Charity", "Emergency", "College".

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Take your kids grocery shopping and explain certain choices you make with your purchases to them.
Your children will benefit from knowing what's best to purchase name brand vs. generic, why some snacks are better to buy in bulk, etc.

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This article originally appeared on Credit.com.

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