Visa vs. Mastercard: Which is better?

What’s the difference between Visa and Mastercard?

Visa and Mastercard provide the technology and networks required for processing card payments. They’re the largest card processors in the world, and their products are accepted by millions of merchants around the world.

Neither Visa nor Mastercard issues cards, unlike banks and other financial institutions. That’s why you might get your credit card from Chase, but the bottom corner of the card will have a Visa logo.

Though Visa and Mastercard are similar in many ways, each has specific advantages. For example:

• Intro APR. Currently, the card with the longest intro APRs is Visa’s U.S. Bank Visa® Platinum Card.
• Travel partners. Visa offers more cobranded hotel and airline credit cards.
• Student and secured cards. Mastercard arguably has better secured and student credit cards, such as the Capital One Platinum Secured Credit Card.
• Cashback cards. Visa offers more cards with 1.5% flat-rate cash back. However, the Citi® Double Cash Card offers 1% cash back on all purchases, and another 1% as you pay them off.
• Providers with transfer partners. Which rewards program you’d like to use may affect which network you go with. Chase, for example, is a big Visa issuer. Meanwhile, Citi mostly issues Mastercards. These providers have transfer partners that may be more valuable depending on what kind of traveler you are.

If you have specific needs, you may find one processor offers more relevant cards.

What features and services do Visa and Mastercard offer?

Visa and Mastercard have a wide range of benefits that issuers can offer. These include:

• Widely accepted. Visa and Mastercard are the most widely accepted credit cards in the world. And if a merchant accepts one, they’ll most likely also accept the other.
• Contactless payments. Credit cards with Visa PayWave or Mastercard PayPass let you make payments by waving your card over compatible readers. You can add contactless Visa and Mastercard credit cards to mobile payment services.
• Premium cards. Visa and Mastercard both provide standard and premium products. For example, you’ll find Visa Platinum, Signature and Infinite cards as well as Platinum, World and World Elite Mastercard products.Benefits vary by card provider but could include concierge services, travel insurance, purchase protection, return protection, trip cancellation and interruption insurance, baggage insurance and more.
• Secured cards. You’ll find secured card offerings from both Visa and Mastercard. A secured card is designed to help you build or rebuild credit and typically requires a security deposit for use.
• Exclusive offers. Premium Visa and Mastercard products might include exclusive discounts on hotels, as well as access to special events and offers.
• Global cardmember services. Visa Travel and Emergency Assistance Service and Mastercard Global Service provide emergency card replacements and cash advances when you’re traveling abroad.

Do I really need a Visa or Mastercard credit card?

Visa and Mastercard products encompass most of the credit cards on the market. But you may want to look into other networks for these reasons:

• You want a specific cobranded card. Some cobranded cards will steer you to certain networks. For example, if you want a US credit card for Delta, look into American Express.
• Other cards fit your spending better or you want specific perks. You might find the perfect card elsewhere that rewards you best for your typical spending or has the perks you want.

Ultimately, the card network is usually of secondary importance. Look for the card you want first, then consider whether the network is a deal breaker. Typically, you’ll find it’s not a problem at all.

How to choose a Visa or Mastercard credit card

Visa and Mastercard offer worldwide acceptance and extensive secondary benefits. More important than network benefits, however, are issuer benefits. Consider these factors:

• What annual fee do you want to pay? The more perks a card has, the higher annual fee it’s likely to have. For this reason, Visa Signature and Infinite cards, as well as World and World Elite Mastercards, typically cost more.
• Where do you spend the most money? Pick a card whose bonus rewards line up with your typical spending. For example, if you travel and dine out often, the Chase Sapphire Preferred® Card could be lucrative. If your spending is spread evenly throughout many categories, you might like a flat-rate card such as the Capital One Quicksilver Cash Rewards Credit Card.
• What APR do you want? Check each card’s terms to verify purchase, balance transfer and cash advance APRs. These rates are set by card issuers, instead of the card networks. You may also find 0% intro APRs for purchases or balance transfers.
• Which perks and signup bonuses do you want? The most impressive perks are offered by card issuers, as are signup bonuses. The more you want, the higher annual fee you’re likely to pay. No-annual-fee cards often have signup bonuses, but they typically have few standout perks.

Compare Visa and Mastercard credit cards

Below you can compare various Visa and Mastercard credit cards side by side. You can also check out our favorite Visa credit cards or Mastercard credit cards.

• Visa credit cards
• Mastercard credit cards

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Name	Product	Filter values	Rewards	Purchase APR	Annual fee
Chase Freedom Unlimited®			5% cash back on travel purchased through Chase, 5% on Lyft, 3% on dining and drugstores and 1.5% on all other purchases	0% intro for the first 15 months (then 14.99% to 23.74% variable)	$0	See offer View details	This solid 1.5% cashback card gets even better with the addition of up to 5% back in categories like travel, drug stores and dining.	Compare	loading Fetching your data...
Journey Student Rewards from Capital One			1% cash back on all purchases, 1.25% for months you pay on time	26.99% variable	$0	Apply now View details	Earn 1% cash back on all purchases or get 1.25% cash back for months you pay on time.	Compare	loading Fetching your data...
Upgrade Bitcoin Rewards			Earn unlimited 1.5% back in bitcoin rewards when you make payments on your purchases.	8.99% to 29.99% fixed	$0	Apply now View details	Unlimited 1.5% back in bitcoin	Compare	loading Fetching your data...

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Name	Product	Filter values	Rewards	Purchase APR	Annual fee
Citi® Diamond Preferred® Card			N/A	0% intro for the first 12 months (then 13.74% to 23.74% variable)	$0	Apply now View details	Best of Finder 2021 An impressive 21 months intro APR on balance transfers and purchases, as well as no annual fee make this one of the top 0% APR cards available.	Compare	loading Fetching your data...
Capital One QuicksilverOne Cash Rewards Credit Card			1.5% cash back on all purchases	26.99% variable	$39	Apply now View details	Get unlimited 1.5% cash back on every purchase with no limit on how much you can earn, and no changing categories.	Compare	loading Fetching your data...
Citi Simplicity® Card			N/A	0% intro for the first 12 months (then 14.74% to 24.74% variable)	$0	Apply now View details	With an intro APR of 21 months, this card has one of the longest balance transfer offers on the market. Plus, no late fees and no annual fee.	Compare	loading Fetching your data...

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Pros and cons of Visa and Mastercard credit cards

There are relatively few downsides to using a Visa or Mastercard. Both are widely accepted, and each may offer valuable purchase and travel benefits.

Visa credit cards: Pros and cons

Mastercard credit cards: Pros and cons

Visa and Mastercard market share

	Visa	Mastercard
Number of countries	200+	200+
Market capitalization (value)	$325.43 billion	$230.59 billion
Employees	17,000+	14,800+
Number of cards in circulation	838 million	388 million
Winner?

Visa is the bigger company by a significant margin. However, in recent years, Mastercard has substantially increased its market share, bridging the gap between these two credit card giants.

Here are a few statistics on worldwide acceptance:

Bottom line

Both Visa and Mastercard are excellent networks, and neither has major weaknesses. That’s good news, as it means you can cast a wide net for your new card. Instead of asking which processor is better, think of which benefits are most important to you. This could include rewards, intro APR, signup bonus and more. Then look for the specific card that checks the boxes.

To find that perfect card, regardless of whether its Visa or Mastercard, you should compare all of your credit card options.

Frequently asked questions

• Which is a bigger company in terms of market capitalization?

  Visa wins as of February 2019, with a market cap of $325.43 billion. Mastercard has a market cap of $230.59 billion.

• In how many countries are Visa and Mastercard accepted?

  Both networks are accepted in over 200 countries and territories around the world.

• Do I have to meet eligibility criteria to get a Mastercard or Visa?

  Yes. Eligibility requirements vary by card issuer, but generally include the following:

  • You’re at least 18 years old.
  • You have a valid Social Security number or Individual Taxpayer Identification Number.

  You typically have a better shot at getting a card with a good credit score (670+). Also, card providers want to see that you have the income to pay your card debt consistently.