VISA vs MasterCard Which is the best credit card issuer? There are three main credit card issuers in the United States: Visa, MasterCard, an...
VISA vs MasterCard Which is the best credit card issuer?
There are three main credit card issuers in the United States: Visa, MasterCard, and American Express. Only MasterCard and Visa share 90 percent of the market. The remaining 10 percent goes to American Express. In this guide, we specifically look at the two major credit card companies and ask the question: Which is a better credit card, Visa or MasterCard?
Since both VISA and Mastercard have a similarly high level of acceptance around the world, it might be best to base your selection of the right credit card on desired features. Should you process a free credit card or do you need a Premium card? Do you value a credit card with cashback or bonus miles, or is it more important for you to have a credit card with travel insurance? We have prepared corresponding comparisons for all these questions, within which you can still choose whether you want VISA or MasterCard credit cards to be displayed.
credit card companies
Contrary to popular belief, it is not always the credit card companies that issue the respective cards, but the banks and savings banks. In the example of MasterCard and Visa, licenses are issued to credit institutions, which gives them the right to market the card.
MasterCard Worldwide is a leading international provider of payment transaction solutions. It was founded in 1966 as the Interbank Card Association (ICA) and was first traded on the New York Stock Exchange in 2006. Today, people in more than 210 countries pay with MasterCard.
US Visa Inc. ensures that Visa cards are accepted worldwide. There are some 500 million debit, credit, prepaid, and company cards in circulation on the continent.
Visa vs. MasterCard
When choosing a credit card provider, card acceptance, cash receipt, and security play a particularly important role. The following table shows the advantages of each credit card specifically in these areas.
| Criteria | Visa | MasterCard |
| Acceptance Points | 46 million worldwide | 44.4 million worldwide |
| Number of cards issued worldwide | 3.2 billion | 2.3 billion |
| ATMs | 1.6 million worldwide | 2.0 million worldwide |
| Security | Verified by Visa – password-based security mechanism for credit card payments on the Internet; serves to verify the identity of the legitimate Visa cardholder Code Sure: payment method that protects card transactions with a personal security code; The code is regenerated for each action Chip EMV The: card payment requires a PIN | MasterCard SecureCode authentication procedure: with a request for a personal security code as part of the payment process; The identity of the MasterCard Paypass cardholder is verified: Payment by card and NFC – placing the card on the reader at a maximum distance of 4 cm – unwanted payments and multiple billing per payment transaction are impossible; For amounts less than 25 dollars without PIN or signature |
| Responsibility for misuse of the card | Liability is usually up to a maximum of $50, after blocking the card, the amount can be waived entirely | Responsibility with a small amount determined by the institute |
Types of credit cards they offer
As already described above, credit cards are not issued by card organizations, but by licenses, ie banks and savings banks. Currently, there are the following types of Visa and MasterCard cards:
| Visa | MasterCard |
| Visa Classic – Suitable for everyday use, the card can be used online, physical, and for paper and electronic processing; Accepted all over the world | MasterCard Standard – online, physical, no high credit score required |
| Visa Gold – is analogous to Visa Classic with a higher credit limit and several integrated insurance policies | MasterCard Gold – Accepted worldwide as MasterCard Standard with added insurance benefits, attractive extra benefits, a higher limit for cash withdrawals, and a larger monthly credit limit |
| Visa Platinum - is an exclusive offer for customers with high credit card transactions | MasterCard Platinum: attractive bonus programs possible, privileged access to VIP airport lounges, golf clubs, etc. |
| Visa Infinite – It is Visa's best product and is only available by invitation | World Elite MasterCard: has been designed for particularly demanding customers and offers a large number of privileges |
| Visa Prepaid: the credit card with which you can only spend the amount that was paid | MasterCard Prepaid Credit Card: No credit check required. You just load it and use it |
For these types of cards, the issuers establish the conditions of issue and, therefore, the fees. As a general rule, annual fees, ATM or counter cash withdrawal fees, and foreign transaction fees may apply. When paying by credit card, retailers and service providers may charge additional processing fees.
