Which type of credit credit card I choose: Visa or Mastercard?
Post on 11 August 2011 by Sleuk Finance
The two leading credit card companies in the world today are the competitors Visa and MasterCard. They both operate along very similar lines. In fact, there is no real difference between the two. They are both very widely accepted in over one hundred and fifty 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. 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. How Visa and MasterCard make their money is by charging the retailer for using their payment method. What this means for the vast majority of customers is that you do not have to overly concern yourself with whether a credit card is MasterCard or Visa. You would be better off concentrating on the interest and other charges on the card, the balance transfer possibilities or their reward scheme.
Here are Some Statistics about Visa and MasterCard:
• Numbers show 30 million merchants for Visa and 28 million for MasterCard in 2009.
• Visa has a few sporting event exclusives: Olympics, a few NFL teams.•
• Master Card also has greater coverage in higher education because Visa does not allow schools to charge convenience fees for tuition payments with a credit card.
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