Visa vs. Mastercard: Which is Best in 2024? (2024)

Jan 8, 2024

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WalletHub Managing Editor

WalletHub Senior Researcher

Visa and Mastercard are the two largest card networks in the world, accepted in more than 200 countries and territories. Mastercard credit cards are more widely accepted internationally, while Visa cards tend to offer more benefits. But for most consumers, there is no practical difference between Visa and Mastercard.

You should only worry about whether to get a Visa or Mastercard if you’re torn between two offers. In other words, if two cards have identical rewards, rates and fees, then it’s appropriate to weigh the small differences that exist between Mastercard and Visa.

Visa vs. Mastercard: Key Things to Know

Table of Contents

Visa vs. Mastercard ComparisonVisa vs. Mastercard BenefitsAsk The Experts: Visa vs. Mastercard

Visa vs. Mastercard Comparison

Visa and Mastercard are more alike than they are different, considering that both card networks are widely accepted around the world and neither issues credit cards. Visa credit cards and Mastercard credit cards can be very different, though, because card terms are set by the banks and credit unions that issue the cards.

Feature	Visa	Mastercard	Winner
Domestic Acceptance	10.7 million locations	10.7 million locations	Tie
International Acceptance	200+ countries and territories	210+ countries and territories	Mastercard
Cards in Circulation	838.3 million	388.4 million	Visa
Transactions	62.3 billion in 2016	25.4 billion in 2016	Visa
Average Purchase Amount	$57	$60	Mastercard
Fraud Liability	$0 liability for: - Credit card transactions - Signature debit card transactions - PIN debit card transactions processed by Visa*	$0 liability for: - Credit card transactions - Signature debit card transactions - PIN debit card transactions processed by Mastercard*	Tie
Credit Card Terms	Not a card issuer. Does not set APRs, fees, rewards, etc.	Not a card issuer. Does not set APRs, fees, rewards, etc.	Tie

* A debit card transaction in which a PIN is used receives no additional protections beyond what is required by federal law, unless it happens to be processed by the card network whose logo is on the card.

The information in the table above reflects what we were able to find as of 10/11/2023.

Best Visa & Mastercard Credit Cards

Opinions and ratings are our own. This content is not provided, commissioned or endorsed by any issuer. Some of the cards are from WalletHub’s partners. WalletHub independently collected information for some of the cards on this page.

Category	Best Visa Card	Best Mastercard	Winner
Initial Bonus	Chase Sapphire Preferred® Card	Citi Premier® Card	Visa
Travel Rewards	Capital One Venture Rewards Credit Card	Citi Premier® Card	Mastercard
Cash Back	Chase Freedom Unlimited®	Citi Double Cash® Card	Mastercard
0% Purchases	U.S. Bank Visa® Platinum Card	Citi® Diamond Preferred® Card	Visa
0% Balance Transfers	U.S. Bank Visa® Platinum Card	Citi® Diamond Preferred® Card	Visa
Fair / Limited Credit	Petal® 2 Visa® Credit Card	Capital One Platinum Credit Card	Mastercard
Bad Credit	Bank of America® Customized Cash Rewards Secured Credit Card	Capital One Platinum Secured Credit Card	Visa
College Students	Bank of America® Customized Cash Rewards credit card for Students	Deserve® EDU Mastercard for Students	Visa
Small Business Owners	Ink Business Cash® Credit Card	Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card	Visa
TOTALS	6 Category Wins	3 Category Wins	Visa

The cards above were selected by WalletHub's editors because they provide the most overall value for each segment of the market. Don’t see your favorite offer? Use the Community Discussion section below to tell us why you think it deserves inclusion.

Best Mastercards and Visa Cards

Visa vs. Mastercard Benefits

There are three levels of Visa credit card benefits: Traditional, Signature and Infinite. Mastercard has three tiers of benefits, too. Some cards offer one level of benefits to all users. Others give better perks to people approved for a certain credit limit – $5,000+, for example.

	Visa Traditional Benefits	Mastercard Basic Benefits	Visa Signature Benefits	Mastercard World Benefits	Visa Infinite Benefits	Mastercard World Elite Benefits
Zero Liability	✔	✔	✔	✔	✔	✔
24/7 customer support for general inquiries	✔		✔		✔
Identity Theft Protection (e.g. alerts for personal info found online)		✔		✔		✔
Lost or stolen card reporting	✔	✔	✔	✔	✔	✔
Emergency card replacement	✔	✔	✔	✔	✔	✔
Emergency cash disbursem*nt	✔	✔	✔	✔	✔	✔
Auto Rental Collision Damage Waiver	✔		✔		✔
Fuel Rewards Network (earn discounts on gas at Shell)		✔		✔		✔
Roadside Dispatch	✔		✔		✔
Price Protection		✔		✔		✔
Extended Warranty		✔	✔	✔	✔	✔
Travel and Emergency Assistance			✔		✔
24/7 Concierge				✔		✔
Year-end Summary			✔		✔
ShopRunner Membership				✔		✔
Return Protection					✔
Mastercard Lowest Hotel Rate Guarantee				✔		✔
Purchase Protection					✔
Mastercard luxury hotels and resorts portfolio (room upgrades & more)				✔		✔
Travel Accident Insurance					✔
Onefinestay (high-end home rentals)				✔		✔
Trip Cancellation/ Interruption Insurance					✔
Mastercard Hotel Stay Guarantee				✔		✔
Trip Delay Reimbursem*nt					✔
Freebies and exclusive experiences at select restaurants				✔		✔
Lost Luggage Reimbursem*nt					✔
Car, Air, Cruise and Vacation Packages				✔		✔
Mastercard Airport Concierge				✔		✔
Free travel-planning services				✔		✔
Exclusive experiences and discounts in Priceless Cities				✔		✔
VIP access to nightclubs				✔		✔
Priceless Golf experiences, offers and concierge				✔		✔
Trip Cancellation Insurance				✔		✔

Many Visa and Mastercard benefits are offered at the discretion of individual credit card issuers. In other words, Visa and Mastercard make benefits available to card issuers and allow them to decide which to pass on to different groups of cardholders. To learn how individual cards rank for some of the most important perks, check out WalletHub’s credit card benefits reports:

Ask The Experts: Visa vs. Mastercard

For more insight on Visa and Mastercard’s market presence – including consumer perception, corporate fundamentals and future outlook – we turned to a panel of leading experts on investing and the payments market. You can check them and their answers out below.

Which company’s stock do you think is a better investment: Visa (V) or Mastercard (MA)? Would you buy either?
What do you make of the fact that many consumers think Visa or Mastercard is the issuer of their credit card, rather than its supporting network?
Do you expect Visa and Mastercard to have as dominant a position in the market 10 years from now?

Ask the Experts

Luke Stein
Assistant Professor of Finance at Arizona State University, W. P. Carey School of Business
Read More

Honghui Chen
Associate Professor of Finance at University of Central Florida, College of Business Administration
Read More

Visa vs. Mastercard FAQ(22 questions)

Which card is better, Visa or Mastercard?

Upvotes

John S Kiernan, Managing Editor

@John

Visa and Mastercard are tied in the categories that matter most to consumers. Both Visa and Mastercard are accepted in more than 200 countries, and it is rare to find a location that accepts one but not the other. Furthermore, both Visa and Mastercard administer certain benefits programs, including rental car insuranceandextended warranties. But individual card issuers decide what coverage cardholders receive.

So it doesn't really matter whether you have a Visa or Mastercard in...

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What is the most widely accepted credit card?

What is the difference between Visa and Mastercard?

Upvotes

WalletHub

@WalletHub

Most people won't notice any substantial difference between Visa and Mastercard because their services are largely on par. However, the main difference between Visa and Mastercard is that Mastercard is more widely accepted internationally, while Visa offers more credit card benefits. Visa and Mastercard are two of the largest payment networks in the world, but neither Visa nor Mastercard issues any cards. Banks and credit unions issue the cards, which are then used on the...

Where is Mastercard NOT accepted?

Upvotes

WalletHub

@WalletHub

Mastercard is not accepted at certain stores and merchants that only take cash, such as vendors at a local fair. Mastercard is also not accepted at retail chains that have an exclusive agreement with another card network. For example, Costco accepts Mastercard only for online purchases. There are also some websites that only take electronic currency though outlets like PayPal, Venmo, or Bitcoin. Mastercard credit cards also can't be used to pay a credit card...

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Is Mastercard or Visa more widely accepted?

Upvotes

Is American Express Visa or Mastercard?

Upvotes

Bogdan Roberts, Credit Cards Moderator

@bogdan_roberts

American Express isn't a Visa or a Mastercard. American Express, Visa and Mastercard are three of the four major card networks, but American Express also extends credit and issue cards directly to consumers.

A credit card never has two networks, so you'll never see an American Express Visa card or an American Express Mastercard. Furthermore, lots of the credit cards on the Amex network are actually issued by American Express itself. Visa and Mastercard, on the other...

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Is Discover a Visa or Mastercard?

Upvotes

WalletHub

@WalletHub

Discover is neither a Visa nor a Mastercard. It's more like an American Express card, but they're not exactly the same, either. Discover is similar to Visa, Mastercard and American Express in the sense that all four are card networks. Each helps process payments for the cards on its network, determines where those cards can be used, and provides extra benefits, such as rental car insurance. However, Discover is different from Visa and Mastercard as most credit cards on...

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Are Citi cards Visa or Mastercard?

Upvotes

John S Kiernan, Managing Editor

@John

Most Citibank credit cardsare on the Mastercard network, including the Citi Simplicity® Card and the Citi Double Cash® Card. It is also worth noting that nearly all Visa cards that Citibank offers are co-branded, such as the Costco Anywhere Visa® Card by Citi.

Both Visa and Mastercard benefit fromextensive worldwide acceptance. So, you'll be able to use them anywhere credit cards are accepted.

You can find a comprehensive list of both Citi Mastercard and Citi Visa credit cards, right here on WalletHub. If you would...

Is Capital One Quicksilver a Visa or Mastercard?

Upvotes

Keyaira Sutton, WalletHub Analyst

@keykey

Capital One Quicksilver Cash Rewards Credit Card (see Rates & Fees) is a Mastercard. That means you can use your Capital One Quicksilver (see Rates & Fees) card at millions of merchant locations in more than 210 countries and territories, wherever payments through Mastercard are accepted.

Things to Know About the Capital One Quicksilver (see Rates & Fees) Card

Card acceptance: The Capital One Quicksilver (see Rates & Fees) is accepted by millions of retailers in over 210 countries and territories. Almost every merchant that takes credit cards accepts Mastercard.
No foreign transaction fees: On top of the Capital One Quicksilver (see Rates & Fees)'s...

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What is the best credit card for study abroad?

Upvotes

Joyce Brown, WalletHub Credit Card Analyst

@j.brown

The best credit card for study abroad is the Capital One SavorOne Student Cash Rewards Credit Card (see Rates & Fees) because it has a $0 foreign transaction fee, a $0 annual fee, and good rewards. Cardholders earn 1 - 8% cash back spent normally, plus an initial bonus of $50 for spending $100 in the first 3 months. Applicants with limited credit can get approved, too.

If you're going to spend most of your time in a foreign country in the near future, you definitely want a card that won't charge you extra on international purchases....

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