MasterCard vs. Visa

Many people wonder, "What is the difference between a MasterCard and Visa?" Is there really any difference at all? The answer is: it depends. MasterCard and Visa each operate independent transaction processing networks, facilitating a transfer of money from the credit card company to the bank of the store making the sale.

Each company makes their network available to a wide range of financial institutions. Rewards programs that feature frequent flier and cash back incentives are offered by varied financial institutions in partnership with airlines and other companies.

Other benefits of credit card ownership are facilitated by MasterCard and Visa themselves, such as purchase protection, identity theft protection, fraud protection and auto and travel insurance.

Valuable and Wide-Ranging Benefits

The wide-array of consumer tastes that exists in 2015 is catered to by an equally impressive selection of credit cards. People who travel regularly by airplane may be well served with an program offering reward miles. People who prefer to drive may be better served with a credit card that offers more generous cash back incentives. Credit cards that offer many other incentives are available as well.

Nerd Wallet and Investopedia both regard Visa's "Loss of Use" car rental insurance as being superior to MasterCard's and that Visa has more wide-ranging purchase protection coverage.

Not all credit cards are the same. Some carry annual fees, others have none. Is it worth paying an annual credit card fee? In most cases, probably not; however, for some, it might be worth the cost. A frequent business traveler or a person who spends a great deal of time on the road may save a great deal of money and avail themselves of a number of valuable and useful other benefits, simply by using a credit card to make a purchase.

Cards offered with the MasterCard and Visa networks by financial institutions are convenient. They allow consumers and make transactions remotely and in-person, with very good security. It is necessary to have a credit card to rent an automobile or a book a hotel room in most instances.

No Annual Fee Credit Cards

Citi® Diamond Preferred® MasterCard

This popular card offers and introductory annual percentage rate (APR) of 0% for balance transfers and purchases. This goes up to a variable APR 11.99% to 21.99% after 21 months, depending on creditworthiness. A balance transfer fee of $5 or 3% of the transaction value is applied, whichever is greater.

Cardholders earn Citi Easy Deals Points when they make purchases using their card, which may be redeemed online for gift cards, merchandise and other deals. Concierge service is available around-the-clock for assistance booking hotels, flights, car rentals and more.

Bank Americard Cash Rewards™ Credit Visa Card

Many consumers have chosen the Visa network card offered by the Bank of America. It offers a special $100 sign-up bonus when cardholders spend more than $500 in the first 90 days of opening the account. It also offers 1% cash back on all purchases and 2% cash back on grocery store purchases as well as 3% on gas up to the first $1,500 spent on groceries and gas combined each quarter.

The card offers a 0% introductory APR for the first 12 billing cycles and balance transfers made in the first sixty days of card membership. After that period a variable APR of 12.99% to 22.99% applies. There is a 3% or $10 fee on balance transfers, whichever is greater. Earn extra bonuses, up to 10%, when redeeming cash back payments into a Bank of America banking account. Modern chip technology offering superior protection may now be used at enabled vendor terminals. Rewards Visa Card

Those who shop online frequently may find value with the Visa Card. It offers 3% cash back on all purchases, 2% cash back on gas stations, restaurant and drugstore purchases and 1% cash back on all other purchases. Additionally, the card currently offers a $30 gift bonus, which is applied to all accounts upon initial approval.

The card charges a variable APR of 14.24% to 24.24% depending on the cardholder's creditworthiness.

Citi Simplicity® MasterCard

A simple card with no late fees or penalty rates, the Citi Simplicity® Card offers an introductory APR of 0% for 21 months and a variable 12.99% to 22.99% after that. Enjoy all the benefits of holding a credit card account including car rental insurance and price protection. If the price of an item is reduced within 60 days the account is credited with the difference, up to $300 per item and $1,200 per year, which offers significant value.

Research and Compare

The best credit card, MasterCard or Visa, will depend on a consumer's individual tastes and preferences. By performing a little bit of online research and careful planning, choosing the best credit can be very rewarding. Compare rates, fees and reward benefits for your situation and choose the card that is best for you.



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