Which Card is Best – Visa or Mastercard?

Visa and Mastercard are the two biggest names in the credit card business. Millions of stores around the world accept both networks, and major banks work with both to issue credit cards. But between Visa and Mastercard, which one is better for that little black book called your wallet?

This detailed guide looks at the main ways that Visa and Mastercard credit cards are alike and different. We’ll look at acceptance, benefits, protections, and other areas of the networks side by side to help you decide whether Visa or Mastercard is better for you.

Overview of Visa and Mastercard

First let’s quickly summarize what Visa and Mastercard are

• Visa and Mastercard are payment processing networks. They facilitate transactions between merchants, banks, and cardholders.

• Visa and Mastercard do not make credit cards themselves. Instead, they work with banks and lenders to offer credit cards.

• Both networks are universally accepted by millions of merchants worldwide. Any place that accepts credit cards will accept Visa and Mastercard.

• Both offer extensive fraud protections, zero liability policies and global customer service.

So in essence, Visa and Mastercard provide the infrastructure and technology that powers credit card transactions. The banks that issue cards on their networks set the specific terms like interest rates, credit limits, and rewards programs.

Acceptance Comparison

Visa and Mastercard are accepted almost everywhere, so there isn’t a clear winner when it comes to where you can use your card. But when we look more closely at the acceptance details, we see a few small differences:

• Mastercard is accepted in 210+ countries and territories – This gives it the edge over Visa in worldwide acceptance.

• Visa is accepted by approximately 10.8 million merchants in the U.S. – This narrowly beats Mastercard’s 10.7 million U.S. merchants.

• Both networks are accepted by the vast majority of retailers that take credit cards. Over 99% of merchants that accept credit cards take both Visa and Mastercard.

So while Mastercard acceptance is slightly ahead globally, there is minimal difference in the U.S. You can reliably use either network just about everywhere credit cards are taken.

Benefits and Protections

Visa and Mastercard offer cardholders various benefits and protections like purchase insurance, travel perks, and emergency assistance services. The specific benefits may vary depending on your card’s credit tier. Higher tier cards unlock more perks.

Here’s a quick rundown of how the benefits compare:

• Visa offers stronger travel protections – Visa Infinite cards provide robust coverage for things like trip delays, lost luggage, and rental car insurance.

• Mastercard provides more shopping and entertainment perks – World Elite Mastercards unlock valuable discounts, exclusive experiences, and special offers.

• Both offer important protections like extended warranties, price protection, cell phone insurance, and zero fraud liability.

So while the overall suite of benefits is quite similar, Visa goes heavier on protecting your travels while Mastercard focuses more on everyday shopping and experiences. Those respective strengths suit different types of credit card users.

Credit Card Tiers

Visa and Mastercard both structure their benefits into tiers linked to different credit card products. Higher tiers offer premium benefits and services.

Visa Card Tiers

• Visa Traditional – Basic coverage
• Visa Signature – Enhanced benefits
• Visa Infinite – Top-shelf elite benefits

Mastercard Card Tiers

• Standard Mastercard – Essential benefits
• World Mastercard – Upgraded benefits
• World Elite Mastercard – Luxury high-end benefits

Cards on the Infinite and World Elite tiers compete directly by offering airport lounge access, hotel elite status perks, and premium travel protections. However, World Elite provides more shopping and entertainment discounts.

Visa vs. Mastercard Statistics

A look at key statistics reveals some interesting dynamics between the two networks:

• Visa accounts for 61% of credit card network purchase volume in the U.S. – This trounces Mastercard’s 25.5% market share.

• Visa has 3x as many cards in circulation worldwide – Visa has over 838 million cards in use compared to Mastercard’s 388 million.

• Mastercard processes higher average transaction amounts – The average Mastercard transaction is around $60 while Visa averages $57.

So in the U.S., Visa has the dominant market position. But globally, Mastercard transactions account for higher dollar volumes on average.

Which is Better Overall?

When considering the full picture, Visa cards edge out Mastercard in a few key areas:

• Visa offers more robust travel insurance coverage and benefits. Frequent travelers may find better value with Visa.

• The wider array of shopping and entertainment perks provided by World Elite Mastercards cater to luxury spending. But most standard Mastercards don’t have extraordinary benefits.

• Visa has much broader card distribution with 3x as many in circulation. More options and flexibility give Visa the advantage.

However, both networks are excellent choices accepted virtually everywhere. The issuing bank, card rewards program, interest rates, and fees will likely be more important factors than Visa vs Mastercard when selecting a new credit card.

Top Visa and Mastercard Card Picks

Here are some of the top Visa and Mastercard credit cards in key categories:

Best Travel Card

• Visa – Chase Sapphire Preferred
• Mastercard – Capital One Venture Rewards

Best Cash Back Card

• Visa – Chase Freedom Unlimited
• Mastercard – Citi Double Cash

Best Balance Transfer Card

• Visa – U.S. Bank Visa Platinum
• Mastercard – Citi Simplicity

Best Rewards Card

• Visa – Chase Sapphire Preferred
• Mastercard – Wells Fargo Propel

Best Sign-up Bonus

• Visa – Chase Ink Business Preferred
• Mastercard – Capital One SavorOne Cash Rewards

The Bottom Line

Visa and Mastercard offer broadly similar credit card benefits and acceptance. But Visa cards tend to edge out Mastercard when it comes to travel protections, flexibility, and market share dominance. Nevertheless, both make excellent payment network choices.

Focus more on finding the right card issuer, rewards program, rates, and fees than the network logo when applying for a new credit card. Consider your spending habits and financial needs first when deciding between Visa vs Mastercard.

Visa and Mastercard are essentially tied in terms of global acceptance.