Do You Know the Difference between Visa & Master Card

Often clients at Finance Investment Companies Malviya Nagar, Delhi are seen to be contemplating about the power of Visa & Master cards. Both the cards are well-known and large payment networks that are each other’s competitors. But, many card holders are not aware of this fact and they consider both as somewhat identical and interchangeable.

According to Finance Investment Companies Malviya Nagar, Delhi the first thing that you need to understand here is that both these cards are issued by banks and act as networks that process payments between banks and merchants for purchases made with the cards. However the line of difference between Visa and Master card is really thin. Visa and Master card offer cardholders with certain added perks like rental car insurance, payment protection, fraud security and more. So, when it comes to deciding on Visa or Master card it is usually more important to know what the issuing bank is offering in a credit card and what the payment processor includes.

Main Differences between Visa & Master Card:

Visa:

Visa card offer two level of benefits i.e Base Level benefit and Visa Signature. Base level visa cards come with auto rental collision damage coverage, extended purchase warranties, unauthorized purchase coverage, emergency assistance and urgent card replacement. On the other hand Visa Signature cards provide the base-level offerings as well as a 24/7 concierge service and an online portal that gives card holders access to discounts, entertainment, sporting events, dining and travel.

Master Card:

Master card comes with three types of benefits – base, world and world elite. The base level facility offer perks similar to that of Visa. In addition to this Master card provides one notable service that Visa does not: price protection. This means if you buy an item using master card and the price reduces within 60 days, Master card will cover the differences, though there are exclusions.

World level facility of Master card includes additional perks like dedicated personal travel advisor, longer price protection (120 days) and added amenities at certain hotels. Master Card’s top level – world elite come with the above mentioned benefits along with discounted service at participating rental car companies, reduced prices on airfare and access to world elite cruise and vacation program guides, which provides price cuts on cruises and other travel trips.