Difference Between Visa and Mastercard?
 

Although the two cards seem interchangeable from a merchant acceptance perspective, someone once explained to me that there was a difference between the two cards. However, I've forgotten the details (I seem to recall that it had to do something with foreign currency transactions). So, does anyone know what the difference is? thanks

Visa was started as an independent company where-as MC was founded by a bunch of banks to compete with VI...

Visa has its roots in Bank Americard, which was started by B of A in 1958 ...

http://www.usa.visa.com/personal/abo...e_history.html

There's virtually no difference between MC and VISA these days, except for acceptance.

I recall that in the 70's, MC was the acceptance leader. At some point in time, that changed, and I think Visa is now the acceptance leader, but in my experience, it's rare to find a merchant that accepts one and doesn't accept the other, at least in the US, since the credit card clearing companies used by US merchants offer both at the same price.

-David


[This message has been edited by LIH Prem (edited 04-13-2002).]

The only reason why I give Visa an edge is because it is a more recognizable brand and I think MasterCard goes by a different name in some countries.

I've only been denied using my Visa card once -- at the Marriott Kuala Lumpur. I noticed a few other merchants in the area who had signs that said 'no visa cards' also.

Sam's Club accepts only Visa, they do not accept MC.

For US members, I don't believe MC offers car rental insurance in NZ and Australia. VISA does.

Hm, in my experience for US members it varies widely by bank whether or not you get car rental insurance at all, let alone where it covers. It's not like the old days where it was always included. Although I suppose the original statement may be true assuming a given Visa or MC has the insurance.

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--Greg

Actually, it depends on the location. Many Sam's Clubs don't accept either Visa or MasterCard (just Discover).

Which is strange because not a lot of places accept Discover.

It was a coup for Discover, though. Discover drives me nuts. I get a mailing from them every other week, plus plenty of my phone calls that I hang up on are from them. I'm waiting for them to just give up on the application process and send me a card in the mail, since they seem to want me to have it so bad.

Discover is nearly as widespread in the US these days as MC and Visa, though. Outside the US, I'm thinking forget about it. I don't recall seeing too many places to use it.

We need some Flyertalkers as customers at work. We would be happy to put your $10,000 copying bill through on your Amex for Rewards points. ;-)


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--Greg

I'm not sure if Discover is even accepted outside the US at all.

Some random additions to this thread:

- Discover is accepted at all US Sam's Clubs, but you get only 0.25% cashback regardless of your annual spend.

- If you want to use Visa, MC, Discover with full cashback, or even AMEX for Sam's Club purchases: Go to any Wal-Mart; purchase a gift card using your chosen credit card; use the gift card @ Sam's Club.

- In the US, Visa & MC are accepted at the same level except where Visa pays big bucks for exclusive sponsorships, i.e. the olympics. Visa also is the "official card" of some attractions (Broadway, NFL) even though MC is widely accepted. Still in the US, MC is everywhere I want to be.

- Outside the US, Visa & MC are not nearly as ubiqutous. Especially in Europe, there are places where Visa is accepted but not MC.

- Most MC cards have better rental insurance than most Visa cards, but it can vary by issuer.



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On the road, In the air,
I enjoy travel, From here to there.

Awesome tip! Thanks.



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What a way to beat them at their own game. Now of course, you may not totally beat them. This assumes you have time to go to Wal-Mart and somewhere in there is the time value of money. Meaning, if you get a $200 chargecard, but do not use it all for a few months....

Amex gives you double points for using it at grocery stores, gas stations, etc, does that include Walmart? And if so, Walmart gift cards?

I have been thinking to use credit cards to buy money orders at Post Offices, but sadly they don't take credit card for money orders. http://www.flyertalk.com/forum/frown.gif Else, that would be the prefect way to earn points.