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You probably already know that Visa and MasterCard are the two leading credit card companies. But, have you ever wondered what the differences between the two were exactly? Well, here they are.
MasterCard is older. The organization was founded in 1966. Visa didn’t come along until 1970.
MasterCard is a multinational corporation; Visa is an international corporation. (Visa is actually an acronym for Visa International Service Association.) Multinational means that MasterCard has “branches” or other companies all over the world, with its headquarters being based in New York, while Visa’s main location is in San Francisco; there are no “branches”.
Those are the differences between the two cards. They also have some similarities:
Both card companies offer rewards programs. You earn points or miles or rewards (they all mean the same) for using the card. You redeem these points, miles, or rewards for airline tickets, hotel stays, merchandise, and other things.
Both cards are pretty much accepted everywhere. At one time, some merchants accepted Visa but not MasterCard; that has since changed; you can use MasterCard just about anywhere Visa is accepted now. There may still be some exceptions, but they are few and far between.
So, there you have the differences and similarities. No matter which one you choose, please spend wisely.