Difference between visa and mastercard.

[styley]

I'm thinking of applying for a credit card. When I looked up online for my banks options I found that they offer Visa and Mastercard. The APR rates and everything else on the cards appear to be exactly the same and there doesn't seem to be a section for differentiating between the two, other than the links to apply for each. Is there any actual difference between each card does anyone know?

[Postdog]

Yes, they are two different card operators - other than that, no difference whatsoever

[styley]

So you are saying that neither has a benefit or a disadvantage over the other?

[buildersmate]

Correct, they are effectively identical. But I can't speak for Postdog.

[Skyline D]

My bank has recently changed me from Visa to Mastercard after 15 years with Visa. Presumably Mastercard are now offering them better commissions!

Anyway, to answer the question, fundamentally there's no difference, especially if they are both offering the same rates and the same credit limits. Theoretically it's possible you could find a retailer who takes one card but not the other though in practice I've never seen one in the UK who differentiates. Possibly there are some foreign countries where one works but the other doesn't though. Not any I've visited but there are probably some out there.

The only place I've ever had a difference is with UEFA, the European football people. They are sponsored by Mastercard and, as a result, ONLY take Mastercard as a credit card option. You cannot use Visa with them which was a right pain in the backside until recently for me as any ticket applications couldn't be made on my Visa. Now I have a Mastercard it's no longer an issue.