At the end of the day, any real choice between the two networks should always come down to how the actual terms, benefits and fees of a card fit with your budget. You can read our guide on the best credit cards in Singapore to find the perfect fit for you. VISA and Mastercard are the two largest global payments technology companies in the world.
Both companies make the majority of their revenue from service and data processing fees. They each partner with banks to issue credit cards that work within their respective networks.
They don't issue cards directly to the public. Instead, they partner with financial institutions such as banks and issue cards via these banks to the public. There aren't major differences between the two companies. VISA is slightly larger and has a higher transaction volume and a slightly higher level of global acceptance.
At the end of the day, the main differences between a VISA card and Mastercard will depend on the issuing bank which is the one deciding on the benefits, protection and rates offered. The answer here ultimately boils down to your spending habits and activities. Those benefits are mainly determined by the issuing bank, although VISA and MasterCard can take part in drafting the terms. Actually, it's both. VISA cards can be broken down into three categories: debit cards, credit cards, prepaid and gift cards.
Zoryana is a Senior Research Analyst at ValueChampion, who focuses on evaluating credit cards, savings and fixed deposits in Singapore. Prior to joining ValueChampion, Zoryana worked in treasury management consulting.
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Interest free credit cards. Low income credit cards. MasterCard credit cards. Money transfer credit cards. Our most popular credit cards. Purchases credit cards. Reward credit cards. Student credit cards. Travel credit cards. Visa credit cards. Life insurance Health insurance Critical illness cover Guides. Travel money Travel prepaid cards No foreign transaction fee credit cards Travel insurance Car hire excess insurance European breakdown cover Guides. In fact, in , Visa and Mastercard announced that they would combine the two services into the same button consumers can click at checkout.
Discover and American Express also announced they would join the two payment networks. There's not a lot of contrast between Visa and Mastercard, so for most people, it may not matter which one you pick. Rather, focus on finding the credit card that will give you the most bang for your buck through its rewards program and benefits. If, however, you have a specific need, such as shopping at a specific retailer where only one is accepted, or you want a perk that only one of them offers, it may be better to pick the network that works better for you.
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It can also help those with poor or limited credit situations. Other services such as credit repair may cost you up to thousands and only help remove inaccuracies from your credit report. Cash back? Whatever suits your goals, we can help match you to personalized rewards card offers.
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