<SUBMISSION>
<ACCESSION-NUMBER>0001181431-06-053226
<TYPE>4
<PUBLIC-DOCUMENT-COUNT>1
<PERIOD>20060914
<FILING-DATE>20060915
<DATE-OF-FILING-DATE-CHANGE>20060915
<ISSUER>
<COMPANY-DATA>
<CONFORMED-NAME>MASTERCARD INC
<CIK>0001141391
<ASSIGNED-SIC>7389
<IRS-NUMBER>134172551
<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<BUSINESS-ADDRESS>
<STREET1>2000 PURCHASE STREET
<CITY>PURCHASE
<STATE>NY
<ZIP>10577
<PHONE>9142492000
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>2000 PURCHASE STREET
<CITY>PURCHASE
<STATE>NY
<ZIP>10577
</MAIL-ADDRESS>
</ISSUER>
<REPORTING-OWNER>
<OWNER-DATA>
<CONFORMED-NAME>Freiberg Steven J
<CIK>0001338913
</OWNER-DATA>
<FILING-VALUES>
<FORM-TYPE>4
<ACT>34
<FILE-NUMBER>001-32877
<FILM-NUMBER>061093636
</FILING-VALUES>
<BUSINESS-ADDRESS>
<PHONE>2127937167
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>C/O CITIGROUP INC.  CORPORATE LAW DEPT.
<STREET2>425 PARK AVENUE  2ND FLOOR
<CITY>NEW YORK
<STATE>NY
<ZIP>10043
</MAIL-ADDRESS>
</REPORTING-OWNER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>rrd130344.xml
<DESCRIPTION>FORM 4 FOR STEVEN J FREIBERG SEPTEMBER 14, 2006
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2006-09-14</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001141391</issuerCik>
        <issuerName>MASTERCARD INC</issuerName>
        <issuerTradingSymbol>MA</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001338913</rptOwnerCik>
            <rptOwnerName>Freiberg Steven J</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>2000 PURCHASE STREET</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>PURCHASE</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>105772509</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Class A Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2006-09-14</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>1345</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                    <footnoteId id="F1"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>1345</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">Represents deferred stock unit award pursuant to the terms of the MasterCard Incorporated 2006 Non-Employee Director Equity Compensation Plan, which was approved by stockholders of MasterCard Incorporated (the &quot;Company&quot;) at the Company's July 18, 2006 annual meeting of stockholders.  The calculation of the pro-rated deferred stock unit award is described in the Company's Form 8-K filed on September 15, 2006.  The award will be settled on September 14, 2010.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Bart Goldstein as attorney in fact for Steven J. Freiberg pursuant to Power of Attorney dated August 11, 2006</signatureName>
        <signatureDate>2006-09-15</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SUBMISSION>
