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  • Category: Miscellaneous
    Points:5

    Which card is better? Master or Visa

    All of us will be using debit cards and credit cards. These cards will be issued by various banks and other NBFCs. There are many types of cards. We all will be hearing about Master Card and Visa Card. I am using both of these cards. However, I am not fully aware of the difference between these two cards.
    Three types of Visa cards are available and they are Traditional, Signature, and Infinite. MasterCards are also available in three types namely Standard, World, and World Elite. Each will have different types of benefits I understand.
    There are members on this site who have good knowledge of finance and banking. I like to hear from such members about the difference and I like to know which of the two is better from the user's point of view.
  • #778577

    Points:4
    As per my understanding and experience Visa type card is more popular and a good number of people use it. This is only a brand that differentiates between these two most popular credit/debit card brands.
    MasterCard and Visa both have affiliations with banks and financial companies and for that they charge a fee or license charges to use the brand name.
    They will also have different promotions and schemes to lure the card users for buying certain items on discount.
    Long back Visa was not popular because it entered the market later and then the financial arena was dominated by MasterCard only especially Citibank card.
    The different levels of these cards give the user different facilities like availing airport lounges and others like that.
    Thoughts exchanged is knowledge gained.

  • #778658

    Points:3
    MasterCard and Visa are the two major network payment companies for payment through respective cards.
    Banks offer their cards through these platforms and all the card transactions route through these platforms and provide a seamless payment experience to the customer.
    Visa was launched in 1950s while MasterCard was introduced in 1960s.
    The main difference is in their charging fees. Visa charges on per transaction basis while MasterCard charges on percentage on transaction volume.
    Knowledge is power.

  • #778662

    Points:4
    Visa and MasterCard both are international debit and credit cards. I have both and I don't see any differences when it comes to usage. These cards are accepted everywhere and if you are a regular visitor to foreign countries, then you must have both these cards. Annual Charges for both the cards is almost same and both are American companies.

    Our desi Rupay card is also launched which is becoming popular among domestic users. It doesn't have the same kind of international acceptance like a Visa or Mastercard. Hence, if you are an India and don't have much to do with foreign countries or international payments, then Rupay card will be the best because it has less charges.
    Humble yourself or life will do it for you!

  • #778721

    Points:3
    I am using VISA card issued by a nationalised bank. It is serving my purpose.

    But I would like to know from experienced members which credit card is most beneficial. Recently I had travelled by plane and some of my friends could use their credit cards at lounge. Though my card also had the eligible category name in it, they said i was not valid there.

    I also read about cashback cards etc. Those knowing and having use experience may enlighten me.

  • #778727

    Points:4
    Not all cards will give us all benefits equally. There are different levels of Visa cards as well as Master cards. Based on the level of the card some benefits will be made available. On each purchase, we will be getting some points and after accumulating the points to a certain quantity we can encash them or we can get some gifts by surrendering these points. When we receive the card we receive a paper in which all these details are mentioned or we can go to the Website and see the benefits available on our card.
    drrao
    always confident


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