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VISA vs Mastercard

Today, I think 99.999999% of places that take one, also take the other. At least in the USA. Not sure in other countries, although I suspect its still around 95% commonality.
 
VISA = 4 letters
MASTERCARD = 10 letters

other than that, i dont recall ever seeing a place that would take one but not the other
 
Well I had my Citibank Visa card spontaneously change to a mastercard a few years ago, when it went from platinum to diamond so I don't think so.
 
Visa hurts the retailer more and mastercard less.

If I remember correctly or is it the other way around??

They both take a % of the price of the purchase.

I don't know what the differences in benefits on the cards are.
Just saying, well they are both taken everywhere isn't all he's looking for.
I know my visa offeres extened warentee and points on purchases, don't know about mastercards.
 
Here's how it seems to work:

VISA and Mastercard are both simply a method of payment. A clearing house for charge transactions. The individual banks actually are the ones that give you the rewards and charge you interest and all that. VISA and MC charge merchants a fee to use their payment method. So really the only difference is acceptance. If a merchant only wanted to pay the fees of one and not the other then they could be different but it seems that both are basically universal (At least in the US)

Also when looking into this, it seems that the difference with AmEx is that they are their own bank... They dont let just anyone issue amex cards. But that might be old as I saw some site... maybe citibank that was issuing amex cards.
 
Each card carries different benefits. Example Visa upgrades your rental car insurance automatically.... Some Visa's also extended your warranties
 
I think that VISA evolved from BankAmericard and Mastercard was set up as a competitor to them back then and called Master Charge.
 
From a retailer perspective, there's really no difference. I prefer Visa only in so far as thier VbV fraud protection is much better - but from a payment/fees standpoint, they are the same.
 
Originally posted by: Amol
VISA is everywhere you want to be and Mastercard is when there are things that money can buy.
Click to expand...
:laugh:

There was a time when UT-Austin would only let us pay for tuition with Visa if we needed to use a credit card. Apparently MC charged a higher % or something, so UT decided to just eliminate their payment method? I don't remember.
 
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