Both Visa and MaterCard are two common words uses around the world. When hear any of them, we would immediately remember the credit card that we have in our wallet. However, most of the people not aware about the difference and what really visa and MasterCard meant. This article intended to provide you the maximum information but the necessary. Here it starts. At the very first, people must know that visa or Mater card don’t have their own credit card products and will not be available such anywhere in the world. Instead, they are just the payment network that transactions are processed over. Visa or MasterCard logos on your credit card will guarantee that transaction.
Business – Some Interesting Factors
Visa – About 270.1 million credit cards and 382 million prepaid cards uses in US.
Visa cards available over 170 countries and accepted by more than 30 million merchants. However, this numbers might have increased further more. Their network of ATMs reportedly consists of around 1.4 million locations across the globe. Mater Card – More than 203 million credit cards and 12 debit cards uses in US. MasterCard available over 210 countries and accepted by 28 million merchants worldwide. Their network of ATMs reportedly consists of around 1.5 million locations.
Neither Visa nor MasterCard actually issue any credit cards themselves. They are both simply methods of payment. Then how Visa and MasterCard make their money is by charging the retailer for using their payment method.They rely on banks in various countries to issue credit cards that utilize 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.One of the other important factor to remember when selecting a cards is, read the terms and conditions and understand them well.
If Visa and MasterCard are not that different, how do we know which one is better to use if we have both?
This meant the customer really need not worry more about whether a credit card is MasterCard or Visa he or she owns. But, better off concentrating on the interest and other charges on the card, the balance transfer possibilities or their reward scheme. You are very unlikely to ever be effected by the fact that it is one and not the other. If you are going to have two credit cards, it would be best to have one of them to be Visa and the other is certainly MasterCard. This would help you to survive immediately if something drastic were to happen to one company or if you are in a place or position were one card is not acceptable and other yes.
Here is the Top Rated Visa and MasterCards available in the market today (2 each)
Sherin Dev is the founder and editor of Investinternals.com Blog. Learn more about him here. Follow him on Twitter @Moneyhacker or be in touch with him at Facebook If you have any queries related articles, guest posting, advertisements or any other, contact him at email@example.com