Visa vs. Mastercard: Which is better?

When it comes to payment processing networks for credit cards, Visa and Mastercard are the two largest players on the scene (alongside other major networks like American Express and Discover). Visa and Mastercard are also unique in the fact they’re only payment processing networks. In contrast, both American Express and Discover serve as payment processing networks while also issuing a range of credit cards of their own.

This is why you’ll find credit cards from Visa and Mastercard that are issued by banks like Bank of America, Capital One and Chase. Still, there are some other differences between Visa and Mastercard you should know about, including their reach and the card types available from each payment network.

What is the difference between Visa and Mastercard?

Visa and Mastercard are both widely accepted around the world, and they both include a range of card types geared to different types of consumers. For example, Visa credit cards can be secured or unsecured, and they can be offered in the following card types — Visa Traditional, Visa Signature and Visa Infinite. Where traditional Visa cards offer fewer benefits and are easier to get approved for, Visa Infinite cards are premium cards through the network that offer the most perks and features and have the highest annual fees.

Mastercard products can also be secured or unsecured, and they come in the following card types — Standard Mastercard, World Mastercard and World Elite Mastercard. Just like with Visa products, Mastercard credit cards operate on a spectrum. Where Standard Mastercard products are often easier to get approved for and have fewer benefits, World Elite Mastercard is the brand’s premium credit card product with the most perks overall.

Also note that both Visa and Mastercard offer financial products outside of credit cards, including prepaid debit cards and traditional debit cards that are connected to checking accounts.

Visa vs. Mastercard: Key similarities and differences

While both Visa and Mastercard are widely accepted around the world, there are key differences in their networks and current operations. The chart below highlights some of the biggest differences between these two credit card payment processing networks.

Does Visa or Mastercard offer better benefits?

Whether Visa or Mastercard offers better benefits depends on the type of card you get through either payment network. For example, you’ll get better perks with a World Elite Mastercard than you would with a Visa Traditional. You would also get more superior benefits with Visa Infinite products than you would with a Standard Mastercard.

Ultimately, this is why you should look at individual card products from both payment networks to find a card option that offers the benefits, features and rewards you want the most. The chart below shows the major perks you can enjoy with some Visa and Mastercard products, plus some popular card types that fall into each category. Note that not all credit cards offer the same benefits, and that the chart below includes potential benefits for these products.

Visa credit cards

Mastercard credit cards

Frequently asked questions about Visa and Mastercard

Is Visa or Mastercard better?

The best credit card for you between Mastercard vs. Visa could be either one. It all depends on the perks and benefits you want, the type of rewards you want to earn and how much you’re willing to pay in annual fees. Our advice? Consider the best credit cards available today and choose the one you like regardless of the payment network it operates on.

What is the best Mastercard credit card?

The best Mastercard credit cards tend to fall into the World Elite Mastercard camp due to the additional perks and benefits these cards offer. Examples of popular World Elite Mastercard products include the card_name, the card_name, the card_name and the card_name.

Is Mastercard accepted everywhere?

Mastercard isn’t accepted anywhere, but it’s accepted by well over 100 million merchant locations around the world. Visa credit cards are accepted at a similar number of merchant locations worldwide with acceptance of American Express with Discover cards lagging behind.