Master Credit Card and Visa Credit Card

sai5

Hi Friends,

I am facing may be a unique issue. I got a default with Sainsburys Bank Credit Card in 2007. The default was updated in 2010 and I think it will be in my credit report till 2016.

Other than that I got a clean credit history and rating. For the last 4 years I have not missed single payment or any missed payment.

Recently I have applied for a Barclaycard and got it and got also another credit card. Both of them are Visa.

I have tried with eligibility checker in MSE and MSM. In both the sites the cards with Master are giving less chances like 3/10 and for Visa they are giving 8/10.

I have tried for eligibility check with MBNA site. They said sorry we cannot issue a credit card.

But in another product of MBNA card with Visa they said Great News you can apply.

I want to know what is the difference with Master and Visa Credit Card. Is anything to do with my credit rating.

If any one can answer this question it will be very helpful to me.

Thanks In Advance
Sai

InsideInsurance

Mastercard and Visa are card networks, they provide the process for how transactions function and money flows.

In the UK it is purely the banks themselves that decide who can have a card and who cannot, what limit you get and which network that card happens to be on makes no difference to their decision

One bank can issue cards from multiple networks and different products they offer may be on different networks for small reasons that arent really of that much interest to anyone else but it is the differences in the products themselves that drive the fact that you may be eligible for a Barclaycard Initial but not a Barclaycard Premier and again not which network they happen to use.

sai5

Thank you for the information ..

stator

Playing devil's advocate, do you really need/want more than 2 credit cards?

PaulW922

As an aside, if you defaulted in 2007, you cannot be re-defaulted for the same debt in 2010. The 2007 default should have gone in 2013 regardless of whether or not it was settled. I would suggest you check this out..

Fruit_and_Nut_Case

stator wrote: »

Playing devil's advocate, do you really need/want more than 2 credit cards?

Always worth having a MasterCard and a Visa, especially abroad in case one is rejected. Probably worth having an AmEx too as that's where the best cashback offers tend to be.

g6jns_2

MBNA probably keep their records longer. It is entirely up to them who they decide to issue a card to. I have a spotless credit history but based on my past experience with MBNA I would never do business with them. I simply don't like the way they do business.