MasterCard or Visa?

Discussion in 'Community Discussion' started by MacBH928, Aug 6, 2019.

  1. MacBH928 macrumors 68040

    MacBH928

    Joined:
    May 17, 2008
    #1
    Apple Card has inspired me to ask this question, which service do you use and why do you prefer one or the other?

    Fun fact, maybe you know but I didn't, I thought MasterCard and Visa are "money-lending" business. I learned they identify themselves and as a payment network, and they do not lend money or charge interest.

    I was told both are owned by a larger company but this could be a myth/rumor.
     
  2. Gutwrench Contributor

    Gutwrench

    Joined:
    Jan 2, 2011
    #2
    AMEX. For the cash back rewards and other services.
     
  3. maflynn Moderator

    maflynn

    Staff Member

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    May 3, 2009
    Location:
    Boston
    #3
    I believe its better to choose an indivudal card rather then MC or Visa, that is given visa card may offer the rewards/cost that is more beneficial to you then just deciding on that you should align yourself with mastercard or visa.

    btw, I primarily use Amex due to the services it offers
     
  4. velocityg4 macrumors 601

    velocityg4

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    Dec 19, 2004
    Location:
    Georgia
    #4
    I don't really care they just process payments. I look at the rates and other benefits an individual card offers.
     
  5. zen macrumors 68000

    zen

    Joined:
    Jun 26, 2003
    #5
    Yep - Mastercard here, but only because the one I found offered better rewards than other Mastercards and Visas. I lump those two credit cards together, as there are no differences between them.

    My primary card IS actually an Amex, because it has by far the best reward (cashback). However, outside of the US (I live in the UK), Amex acceptance is quite hit and miss, hence the Mastercard (which has rewards, but not as good as the Amex) as a backup.
     
  6. Mousse macrumors 68020

    Mousse

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    Flea Bottom, King's Landing
    #6
    I use both. But my current MC gives better rewards than my VISA so, MC is my main card for now.
     
  7. Erehy Dobon macrumors regular

    Erehy Dobon

    Joined:
    Feb 16, 2018
    #7
    I have a combined total of five Visa and MasterCard credit cards that provide a wide range of benefits -- most of which come from the issuing bank -- not the affiliated payment network.

    When I use a particular card, it's because that situation benefits the most from a specific card issuer and the benefits they offer on that particular product.

    Frankly, I don't really care about the payment network as long as the card I'm using for that transaction is accepted.

    Oh, I have one more credit card that is neither Visa nor MasterCard, let's just call it Card A. The company behind Card A is both the issuing bank and the payment network. In certain situations, this is the card that I prefer to use, again because of the specific benefits that card offers.
     
  8. AustinIllini macrumors demi-goddess

    AustinIllini

    Joined:
    Oct 20, 2011
    Location:
    Austin, TX
    #8
    I use a Chase Sapphire which is a Visa. Visa is probably a bit better overall but it's really on a card by card basis.
     
  9. vkd macrumors 6502a

    vkd

    Joined:
    Sep 10, 2012
    #9
    Visa has always had far better rates than Mastercard, and Amex, as they call it. Just cut your promotional gift MC & Amex cards in half, put them gently into the rubbish bin and breath a sigh of relief that you are free from the clutches of yet more vampire vultures gloating over your life.
     
  10. Naaaaak macrumors 6502

    Joined:
    Mar 26, 2010
    #10
    Visa can be used at Costco.

    Amazon's Visa saves 5% at Amazon and Whole Foods (good if you shop frequently at both).

    There's political issues with Mastercard which I can't mention here but you could look up.

    There's guides if you're optimizing for cash back or specific ongoing spending.
     
  11. MacBH928 thread starter macrumors 68040

    MacBH928

    Joined:
    May 17, 2008
    #11
    Are the benefits provided based on the payment network(MasterCard/Visa) or is it specific on the issuing bank?

    Thanks for your advice, I have high self control. I am debt free. I only buy if I have the money, and if its on installments I make sure the installments are small enough that I can easily pay them or in fact can pay the whole price up front if I wanted to.
     
  12. Gutwrench, Aug 8, 2019
    Last edited: Aug 8, 2019

    Gutwrench Contributor

    Gutwrench

    Joined:
    Jan 2, 2011
    #12
    There are different flavors of VISA, MC, Discover, and AMEX. You must compare their rewards carefully to find the one that meets your habits. I don’t travel so my cards aren’t geared toward travel rewards but rather cash back and their other ancillary benefits.

    Someone mentioned VISA has better “rates.” Most people speaking here, I believe, do not carry a balance so the rate isn’t all that important. We are after the maximum reward benefit for our purchasing behavior. (The people paying rates, or in other words carrying a revolving balance, are paying for our rewards...haha I thank them... haha).

    So, shop around to find the card that best suits your reward goals. If you plan to carry a balance, don’t get a cc.
     
  13. zen macrumors 68000

    zen

    Joined:
    Jun 26, 2003
    #13
    I think it is more the bank (or provider - for example, my Mastercard is not from a bank, but from a department store. Okay, it has some kind of financial institution behind it, but the rewards it offers are mostly based around that particular department store. Before this card, I had one from an airline, so the rewards were mostly air miles and the like).

    As Gutwrench says above, Do. Not. Carry. A. Balance. I pay off my card balance in full automatically when the statement is due each month. Therefore I pay no interest, and I get the rewards offered by the card. If you run a balance, and end up paying the interest and installments, then it instantly negates any reward you may have earned.

    In fact, my Amex will only pay cashback if the balance is cleared each month. One month missed and the entire year-to-date of cashback is annulled.
     
  14. Gregg2 macrumors 603

    Joined:
    May 22, 2008
    Location:
    Milwaukee, WI
    #14
    Discover here. Got one when it first came out. They tried to trick me into a new account with higher rewards and a fee. I took the bait, but kept the old account. Sure enough, after awhile, they reduced the rewards, but left the fee. I canceled that account and resumed using my original one.

    I use the cash back these days on Amazon.
     
  15. Apple fanboy macrumors Nehalem

    Apple fanboy

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  16. MacBH928 thread starter macrumors 68040

    MacBH928

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    May 17, 2008
    #16
    If Amex does not charge you interest on carried balance, then how do they make money?
    I thought they wanted you to carry the balance so they make you pay high interest rates.

    You are free to do so, but its such a connivence to use online. Unless you pay using a debit card, in which case, I really don't differentiate since I am paying either way in debit or credit.

    Note if you use debit, you are probably still using Visa or MasterCard network for payments.
     
  17. Apple fanboy macrumors Nehalem

    Apple fanboy

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    #17
    Yes I use a debit card. The major difference is I’m paying using my money not someone else’s.
    Credits not my thing.
     
  18. satcomer macrumors 603

    satcomer

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    Feb 19, 2008
    Location:
    The Finger Lakes Region
    #18
    I am in the process of doing that to curb my spending and this would help me! So does it work in online stores?
     
  19. YaBe macrumors 6502a

    YaBe

    Joined:
    Oct 5, 2017
    #19
    Visa for me, there are still places here where Mastercard fails, America Express here (Italy) is a mess.
    --- Post Merged, Aug 9, 2019 ---
    Just get revolut, send money in and use the "credit card" anywhere like a regular card. No cost.
     
  20. Gutwrench Contributor

    Gutwrench

    Joined:
    Jan 2, 2011
    #20
    Noble philosophy and it works well.

    Another viewpoint is my money stays in my accounts earning interest (as meager as that may be) while I use AMEX’s money interest-free plus receive cash back on groceries, parking, streaming services, and day-to-day odds and ends.
     
  21. Apple fanboy macrumors Nehalem

    Apple fanboy

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    #21
    Exactly the same.
    --- Post Merged, Aug 9, 2019 ---
    Interest? Yes I remember when banks paid decent rates!
     
  22. MacBH928 thread starter macrumors 68040

    MacBH928

    Joined:
    May 17, 2008
    #22
    The problem with debit card is that I heard some places require specifically a credit card and will not accept debit. Such places could be hotels that "block" a certain amount on your card as a means of insurance for the room.

    debit cards do not have benefits?
     
  23. Apple fanboy macrumors Nehalem

    Apple fanboy

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    #23
    I’ve never had a debit card refused.
     
  24. Gutwrench Contributor

    Gutwrench

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    Jan 2, 2011
    #24
    Car rentals can sometimes be a hassle using a debit card.
     
  25. Apple fanboy macrumors Nehalem

    Apple fanboy

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    #25
    I’ve never had a problem.
     

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