Mastercard vs Visa

girobank

Hi Everyone

Most of the best rates around are using Mastercard - Other than the Olympics are there any major obstacles or companies that don't accept Mastercard or should I not be worried?

Cheers

Giro

BugsyBrowne

My local corner shop doesn't take MasterCard or Visa if that's any help.

InsideInsurance

"Rates" are almost nothing to do with Mastercard or Visa but simply the lenders (RBS, Capital One, MBNA etc).

Any correlation between rates and network is basically going to be pure coincidence and unlikely a long term thing.

With the exception of the Olympics then within Europe you will almost certainly find companies accept both or neither. Maybe in some further flung parts of the world the two aren't equally accepted but I have never come across anywhere like that.

Gromitt

I always thought that maybe Mastercard charged a higher inter-charge fee than VISA, hence why lenders using Mastercard offered more 'perks'. This was backed up when companies such as Tesco changed from VISA to Mastercard (assumingly to make more profit). Pure speculation on my part though.

dresdendave

Just pay the statement balance in full every month and you pay no interest so the rate is meaningless. With the exception of 0% cards for stoozing purposes, once you start carrying a balance on your card you are living outside your means.

Jimmbron

I did think it was odd that every olympic venue was "proud to only accept visa". Might as well have read "we're pleased to inconvenience you!"

Agree, there's little difference between the two from what I can tell

InsideInsurance

Gromitt wrote: »

I always thought that maybe Mastercard charged a higher inter-charge fee than VISA, hence why lenders using Mastercard offered more 'perks'. This was backed up when companies such as Tesco changed from VISA to Mastercard (assumingly to make more profit). Pure speculation on my part though.

You may be thinking of Mastercard World or Signia which do have a higher intercharge fee and is indeed there to fund perks like the Capital One cashback.

Visa do have Premier Visa but to the best of my knowledge there is no increased interchange fee for Premier -v- the normal consumer credit card

Gromitt

One thing I noticed today whilst browsing box.co.uk:

1.5% surcharge for 'normal' credit cards
1.5% surcharge for paypal payments
3.0% surcharge for corporate visa cards

I cancelled the transaction as I refused to pay the surcharge on 1K+ order (same price elsewhere without the surcharge), but didn't know corporate visa cards cost more to process than 'normal' visa cards?