What is the difference Between Visa and MasterCard credit cards?

Although both of these providers provide credit card facilities that can be used anywhere, of course, there are differences offered.

Let's see what is the difference between Visa and MasterCard credit cards before you make a choice.

Although often see it on the corner of your credit card, it's still a lot you know who does not know what is Visa and MasterCard. In other words, many still choose to choose a credit card. Thus, you can not take full advantage of its features.

Therefore, My Finances invite you to see some difference of Visa and MasterCard credit cards before dropping the selection.

Before going any further about the difference, we recommend you familiarize yourself with this credit card provider first.

Here is a brief description of the two companies that publish it including its goal in creating an electronic transaction tool that we use almost every day:

Visa

Visa is a global technology company that aims to improve lives and economies around the world. With different products, knowledge, experiences, and thoughts to bring about positive change.

Visa International Service Association (VISA.INC) itself is located in Foster City, California and continues to expand its cooperation with various merchants worldwide for the convenience of its customers.

MasterCard

MasterCard Worldwide, MasterCard publisher is located in Purchase, New York. With its innovative products, MasterCard Worldwide aims to change the way people live with electronic transactions with sophisticated technology.

Both are actually credit card providers, who work with many merchants around the world for ease of electronic transactions for their customers.

But after knowing the origin, you should also know the difference between the two to choose which provider that suits your needs.

Through the following article, My Finances will outline some of Visa and MasterCard credit card differences.


Visa and MasterCard Credit Card Differences

Although providing similar facilities, Visa and MasterCard credit card providers certainly compete to provide the best deals and features for its users.

You also want to know the difference between the two before making a decision related to this credit card provider, is not it? Thus, you can choose a provider with features that suit your needs.

Before long, let's look at some of the following Visa and MasterCard credit card differences:


# 1 Company

The obvious difference is certainly the company that publishes it.

As previously described, Visa is a product of the Visa International Service Association (VISA.INC). MasterCard is a product of MasterCard Worldwide.


# 2 Area Coverage or Reach

In essence, credit cards with Visa or MasterCard logo will be able to be used on merchants who have worked with the provider.

Despite widening the wings long enough, each card has its own territory. Visas are generally more widely used in Asia, while MasterCard is widely used in the Americas and Europe.

# 3 Features and Benefits

Although often issuing credit card types with similar features, there is still a small difference between the benefits of both.

On this occasion, the type of credit card that will be discussed is a credit card issued by Visa and MasterCard are much different. In other words, it is not a Classic, Gold, and Platinum credit card.

# 1 Visa Signature

An exclusive credit card intended for renowned businessmen and professionals. The filing requirements are quite difficult as they include an assessment of the worth of the property (eg deposits, savings, investments, checking accounts, etc.).

Benefits and Advantages:

Very large limits (from $100000 to unlimited)
Complete facilities (eg airport lounge facility, travel assist, golf club membership)


# 2 Infinite Visa

Again an exclusive credit card that cannot be owned in general because one of the requirements of the filing already has assets worth the US $ 100 thousand in cash.

In addition, you also have the status of premium customers who already have accounts, deposits, or investments from the card issuing bank.

Benefits and Advantages:

Big card limit (from $5000 to unlimited)
Complete facilities (eg travel insurance, travel assistance, private jet access to special priority pass)

# 3 World MasterCard

A MasterCard issue card that features similar to Visa Infinite. In addition, the filing requirements are also almost the same as Visa Infinite.

However, to avoid annual fees, you are required to transact more than $75000 per year.

Benefits and Advantages:

Acceptable in the majority of countries in the world.
Convenience facilities in making reservations at the airport, and more. It also provides Identity Theft Resolution Service, a service to protect your identity.


# 4 World Elite MasterCard

Is a card in the highest level of MasterCard issue. This card was created to meet the needs of the living jet set that travels (traveling) around the world.

Benefits and Advantages:

Convenience in various aspects (eg high-end hotel reservation, airport, luxury restaurant, and more).
Features Identity Theft Resolution Service, a service to protect your identity.


# 4 Security and Protection

An online transaction is always at risk especially in terms of security of data that is input online.

Thus, it is important for credit card providers to always provide protection for their customers in anticipation of all forms of fraud and abuse.

In terms of security of credit card use, they also apply different systems, as follows:

VISA offers a customer security system in the form of a static pin or One Time Password (OTP) into the "Verified by VISA" window. This static or OTP pin will be sent when you want to transact to the mobile phone number you registered.
MasterCard offers customer protection in the form of Secure Code. This Secure Code is an additional pin code that users must enter when transacting online. A pin can you make yourself online so no need to bother to the bank.

#5 Costs Appeared

One of the costs that must arise when you transact using these two credit card providers is the transaction fee. The cost of this transaction is certainly different. For Visa and MasterCard case studies, the transaction costs are as follows:

If you transact abroad, the Visa credit card will charge a fee of 1% of your total transactions.
MasterCard has different costs, ranging from 0.2% to 1% depending on the location of the transaction.


Make Decisions As You Need

After reading this article, hope you get an enlightenment about which credit card provider you should choose.

In addition, you can also consider the types of cards that can be selected from each provider.

Feel free to inquire directly about other card information to the respective provider company.