differece between VISA and MASTER card?

[dreamy]

Is there a differece between VISA and MASTER card? Do you have both or just one of them?

[sunshine]

I don't find a difference. There is a difference between Visa and AMEX, or master card and American express. The difference is what credit card you will get in terms of - secured credit card, no interest credit card, cash back credit card, rewards credit card, no annual fee ....

[Canadian]

I'm not sure exactly what do you mean by "difference between Visa and Mastercard". They are just 2 different credit card companies. Both Visa and mastercard are widely accepted almost everywhere around the world, while many merchants don't accept American Express credit cards, because of the high fees.

[blueyes77]

I believe visa gives a longer grace period than mastercard. They seem to get the bill out much earlier....I may be wrong. Check the fine print...you may need a magnifying glass to see it.

[Canadian]

Originally Posted by blueyes77

I believe visa gives a longer grace period than mastercard. They seem to get the bill out much earlier....I may be wrong. Check the fine print...you may need a magnifying glass to see it.

Even if you manage to read it with a magnifying glass, you need a pack of lawyers to translate it in plain English...

[Salaso]

They're pretty similar in terms of rates/fees/etc. The only real difference between them is that there are a few places that will only accepts one or the other.

[chinoy99]

VISA & MASTERCARD


Visa and Master cards now-a-days are not just credit cards. They also serve the purpose of debit card, prepaid cards, secured cards and gift cards. Both Visa and Master have similar functions but are two different entities. Read below to give you a clear picture. Thanks.

Visa Inc. (NYSE: V), commonly referred to as VISA (Visa International Service Association), is a multinational corporation based in San Francisco, California, USA. The company operates the world's largest retail electronic payment network, managing payments among financial institutions, merchants, consumers, businesses and government entities.

MasterCard Worldwide (NYSE: MA) is a multinational corporation based in Purchase, New York, United States. Throughout the world, its principal business is to process payments between the banks of merchants and the banks of purchasers that use its "MasterCard" brand debit and credit cards to make purchases.

[Richard]

They're pretty much identical. I personally have one of each (and an AmEx) because some places will only accept one (Timmies only accepts MasterCard, the Vancouver Olympics only accepts Visa). Visa seems like it's the bigger company. Most big banks issue Visa; that may change because the Federal Court struck down contracts that restrict banks to issuing only one brand of credit card.

There's no harm in having both brands of credit card, even if you have only a $500 limit, as a backup in case of an emergency.

-Richard
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