MasterCard and Visa Credit Cards are both accepted everywhere that credit cards are authorized. MasterCard and Visa credit cards have a lot in common in terms of daily spending. In spite of the logos that of both MasterCard and Visa card, there’s no difference in the card. Both are widely accepted worldwide. The benefits that a card to card users is not determined by if it’s a MasterCard or Visa Card. Therefore, when choosing a card, don’t waste so much time bothering about the logo rather focus on the other features of such a card.

MasterCard Vs Visa

What To Know About MasterCard And Visa Credit Cards

Key things to understand about Visa and MasterCard:

MasterCard And Visa Card don’t really issue or distribute credit cards.

They are payment networks. They create a process for payment between banks and merchants for credit card purchases.

The bank that issues the card matters much more than the payment network

Interest rates, fees, and most rewards and perks on a credit card are set by the issuing bank, such as Citi, Wells Fargo, Capital One or your Local Community Bank.

Payment Networks Provide Some Benefits

Those benefits are the only substantive difference between Visa and MasterCard. But there Other minors things that are related. Most of the benefits enjoyed by cardholders are from credit card issuers.

Visa and MasterCard are Both Accepted

MasterCard and Visa Credit Cards have general acceptance. With just a few exceptions, any ATM that accepts Visa will accept MasterCard.

Both Cards Have Worldwide Acceptance

In fact, every merchant that accepts credit cards takes both Visa and MasterCard. It is not only in the U. S but also internationally, wherever in the worldwide. Also, there are just a few exceptions to this universal acceptance of both cards. This exception occurs when a merchant has an exclusive deal with one payment network. For example, Costco wholesale clubs accepted only Visa cards. Before then in mid-2016, they took only American Express. The same with, Sam’s Club that use to accept MasterCard only., although it now accepts both. Likewise, such exclusions are very rare.

Additionally, payment networks demand merchants to abide by the rule known as “Honor all cards”. It, therefore, means that, if a merchant takes Visa. It must take all Visa Cards, if it takes MasterCard, it must take all MasterCard Cards.

MasterCard And Visa Card differences

Although there’s no much difference between Visa and MasterCard, they are not similar. Each payment network makes excellent benefits available to cardholders. But with Caveats application:

  • It often depends on the issuer to choose if a particular card will carry network benefits. In other words, Visa may offer a rental car coverage benefit, but that doesn’t mean every Visa will have it.
  • Issuers may offer benefits that the network does not. For instance, MasterCard does not offer car rental and car coverage itself, but some MasterCard Cards have such coverage because it provided by the issuer.

Visa offer three levels of benefits: Traditional, Signature and Infinite.

Traditional: All benefits include auto rental collision coverage, zero fraud liability, emergency card replacement and emergency roadside assistance.

Signature: Also, they include all the traditional benefits, as well as extended warranty protection and worldwide travel and emergency assistance

Infinite: status provide all signature benefits plus return protection, purchase protection, travel accident insurance, trip cancellation and interruption insurance, and lost luggage reimbursement.

MasterCard: Standard, World, World Elite

MasterCard’s Three levels of benefits are Standard, World, World Elite:

  • Standard: benefits include emergency card replacement, identify theft protection and Zero fraud liability. Until July 2019, cardholders also get extended warranty protection and price protection.
  • World: benefits include the standard-level Offerings as well as access to trip planning. And travel benefits through MasterCard Travel & Lifestyle Service; access to a concierge, and discounts and promotion with certain retailers
  • World Elite: benefits include the world benefits, plus golf benefits and additional discounts and promotions.

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