Credit cards greatly facilitate the life of any person. With their help, you can easily pay in stores, cash out money in banks, cashiers and ATMs, as well as enjoy discounts in various retail chains around the country. When traveling abroad, credit cards are the most convenient option, due to the fact that it is not necessary to carry large amounts of money with you and accordingly declare them at the customs.
Now it is difficult to get a clear answer in banks to the question as to what is better, VISA or MasterCard. There is a small number of fundamental differences between them, because the competition between the two leading global payment systems has existed for many years. Also note that you can click here to order any of these depending on your preferences.
Mastercard vs VISA
The most common opinion that the main difference between these cards is only that VISA is an American system, and MasterCard is a European system. But looking at the very name of these systems, namely VISA International Service Association and MasterCard WorldWide, we can safely say that they have long been international.
Before choosing a payment system, you need to decide which currency is the priority for you. For VISA cards, the main currency is the US dollar, and all currency conversion operations occur using US dollars accordingly.
In the MasterCard system, in addition to the dollar, the euro is also one of the two main currencies, therefore, transactions can take place either in dollars or euro. This is one of the main differences between these cards.
Which credit card is better to choose: VISA or MasterCard?
Therefore, if you are going abroad, it will be more convenient to use a MasterCard. Banks open accounts for both the dollar and the euro in the MasterCard.
If the payment is made, for example, in EUR, and the card account is in dollars, then the currency conversion takes place. And there is also one small difference: the VISA conversion rate is always open, but the MasterCard rate can only be learned after the transaction.
And here again the point goes to the MasterCard as the interest charged for conversion operations in VISA is higher and it’s about 0.6%.
It is worth paying attention to which card is easier to cash out money with. For example, with MasterCard there can be problems sometimes as it is not accepted in all cities and not in all stores. And with VISA, there are no such problems.
If you travel to European countries, it is better to choose VISA as this payment system is more common in Europe. In general terms, it is worth paying attention to the cost of issuing cards, the quality of service, as well as the rate for withdrawing cash.
