It's the rivalry to end all rivalries. The competition between Troy and the Spartans for the hand of fair Helen pales in comparison to the battle for supremacy between these two entities. Not everyone knows that about the battle at Troy, but every one is aware of the clash between the two titans of the credit card world: The clash between MasterCard and Visa. Which card is really better?
Before we compare the benefits of these two card conglomerates with each other, it must be made clear to the consumer that Visa and MasterCard are not credit card brands. These are, in actuality, payment systems; a group of financial institutions that back each other up to ensure that the charges the holder makes on his card would be paid, no matter where he is, at any given time of the day. The credit card brand is the name of the financing institution that issues the card. The Visa or MC logo you see on the card simply signify that the card you hold is backed up by one of these two major associations.
Now that that's out of the way, it's time to focus on their individual merits. In terms of acceptability, both systems are recognized in various small, medium and large retail and commercial enterprises the world over. And why not, the member companies of both associations number more than 25,000 - each! And they have members from all corners of the globe, from places at the freezing arctic poles to the scorching land located along the equator. There are, however, some places where a specific card type is more prevalently used. You may have to consult with travel guides to know which card (whether Visa or MasterCard) is preferred.
How about if we consider consumer benefits? It would be grossly unfair to use this as a gauge because special offers, rewards, points and rebates are not offered by Visa nor MasterCard. These are actually conceptualized by credit card companies and these promotions are used not to entice people to select Visa or MasterCard, but for consumers to sign up with their services. How these card issuing companies bundle their special packages up depend on how the other card companies present their special offers. Since that's not a reliable measure, consumer benefits will have to be discarded.
How about interest rates and flexibility of payment? Again, it would not be fair to use these as measures of comparison because, MasterCard and Visa do not have a say on the interest rates levied by card companies on their clients. The interest rates may be dictated by governmental regulatory board, or by the card issuing companies themselves. MasterCard and Visa have no hand on these matters because, as early stated, these two entities are merely payment systems. The same goes with the payment terms. The terms are dictated by the issuing establishment.
Given the facts, it appears that there's a standstill. Neither Visa nor MasterCard is better than the other. These two entities aim to make sure that those holding cards bearing their logos are covered, no matter where they go. The real rivalry is not between these two, but between the individual card issuing companies! So don't despair if you only have a MasterCard or a Visa because both give the same service to card holders. Just be secure in the knowledge that, whatever card type you hold (whether it's a Visa or a MasterCard), your purchases, wherever these may be, will always be guaranteed. And that's all that matters.
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