What is the Difference Between Visa and MasterCard

Many credit cards that are available in the market are either Visa or MasterCard. You may be wondering what are the differences between Visa and MasterCard since they look just the same. Visa card is accepted at 200 countries worldwide while MasterCard is accepted at 210 countries around the world. Most merchants will accept both Visa and MasterCard for the purchases. It is very rare than a merchant will accept one card brand and not the other.

You must understand that neither Visa nor MasterCard is a company that issues credit cards. Rather, it is the credit card companies and banks that issue their own collection of Visa or MasterCard. The features of the credit cards are determined by the credit card company that issue them. Both brands of credit cards offers free car insurance, and protection against fraud transactions.

One of the differences is that Visa card offers 2 levels of benefits while MasterCard offers three levels of benefits. Visa base level cards include benefits such as auto insurance coverage, extended warranties, and unauthorized charges on credit cards. Visa signature cards offers discounts for selected shopping categories and it comes with a 24/7 concierge service that you can use for getting anything that you don’t have time done.

MasterCard base package also come with the same perks included in Visa base such as collision insurance and fraud transaction charges coverage. One thing that MasterCard offer that visa card don’t is the price protection. MasterCard base level credit cards promises to cover the difference if the price of the product you purchase drops within a period of 60 days. Even though visa card itself does not offer price protection, some credit card companies included this feature themselves to encourage people to sign up.

MasterCard World card offers additional features such as personal travel adviser that works like a travel concierge.
It offers 120 days price protection and free upgrades for your hotel accommodations when you travel overseas. MasterCard World Elite allows you to enjoy discounts at selected car rental companies, cruises and airlines.

Generally, the differences between MasterCard and Visa cards are not important. What matters most is the interest rate and perks that are included in the card. The perks are often in the form of cash back and rewards points. Many cards also offer sign up bonuses that can reward you with a substantial amount of rewards point when you spend the minimum amount. There are a few major credit card companies including Chase, and Bank of America. It is important that you always make use of the online credit card search engines and read credit card reviews articles to compare between different cards. In this way, you will be able to sign up for the right card that benefit you most.

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