Visa Vs. Mastercard: Know The Difference

Visa  Vs. Mastercard: Know The Difference

Most of the  adults today have at least one card whether it be debit or credit card. Some even have a couple of them. In total, we owe millions of dollars due to credit card debt. The two primary credit card companies are MasterCard Inc. and Visa Inc.

Even though both companies generally has the same features and usability when it comes to there credit cards there are still some differences between the two. Most of us don’t even notice this.

Visa and MasterCard don’t actually issue individual cards directly instead you may attain one through banks, credit union or sometimes even retailers branded cards. Depending on where you got your card, it usually has a different terms and conditions which could also include, interest rate, fees, and rewards. This is why when you pay for your debt it is the financial institution that receives the payment and not the credit card company.

They usually earn money through charging the merchants that issued your card. They do this through certain charges and business fees. Additionally, they do not refer to themselves as financial companies but a payment technology company.

Here are what these giant fin-tech company has to offer:


Visa has a three-level membership that includes base, signature and infinite. They are known to have a better “Loss of use” coverage on car rental insurance compared to Mastercard. However, you must note that this is only available on some countries.

For gold or other elite cardholders, some companies also offers concierge services to handle certain tasks and to save some of your time. These services vary and may provide access to event tickets, restaurant reservations, hotel recommendations, or even assist with gift purchases given the recipient’s age, preferences, and the buyer’s spending limit.


The same with Visa, Mastercard also offers three-level membership. This includes base, world and world elite. MasterCard offers “Return Protection” with very few cards, whereas Visa’s signature cards widely carry that service. MasterCards do tend to have better cost protection service, meaning if you buy something with a MasterCard and the retailer reduces the price within 60 days, MasterCard will refund the difference. Other than that, the cards are very similar.


As far as most consumers are concerned, there is no real difference between MasterCard and Visa. The two are both widely accepted in over two hundred countries and it is very rare to find a location that will accept one but not the other.

However, neither Visa nor MasterCard actually issue any credit cards themselves. They are both simply methods of payment. They rely on banks in various countries to issue credit cards that utilise these payment methods. Therefore, the interest rates, rewards, annual fees, and all other charges are issued by your bank and when you pay your bill you are paying it to the bank or institution that issued your card and not Visa or MasterCard.

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