Visa vs. Mastercard: Which card is better for your wallet?

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Published on October 17, 2024 | 5 min read

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Key takeaways

Visa and Mastercard are two of the largest credit card networks, and both are widely accepted and offer similar protections.
The benefits offered by each network may vary depending on the specific card issuer, but both offer perks such as travel and purchase protection.
In terms of which network is better for you, it ultimately depends on the specific card issuer and its benefits and terms.

Visa and Mastercard are two of the four major credit card networks that help to facilitate credit card purchases. Chances are, you have a Visa or Mastercard credit card in your wallet. So what’s the difference between the two, and which is better?

In short, there’s nothing inherently better about either network. They both are widely accepted and offer similar protections. Your card issuer — like Chase or Capital One — has a greater influence on credit card perks, protections and rewards than the network. So, a card from either Visa or Mastercard is a good choice, as long as the terms and benefits set by the card issuer are favorable. Ideally, you should look for a card with low rates and fees, rewards and plenty of benefits.

Still, there are some distinctions to be aware of if you want the full picture. Here, we’ll get into the major similarities and differences between Visa and Mastercard.

A word about payment networks

Before we compare Visa and Mastercard, it’s important to distinguish that these are payment networks. That means they process credit card transactions. On the other hand, credit card issuers, like Chase or Capital One, actually approve or deny people for credit cards. That’s why you would never pay a credit card bill to Visa or Mastercard, even if one of their logos is printed on the back of your credit card. However, American Express and Discover are both payment networks and credit card issuers, which can be confusing.

Visa vs. Mastercard: Key similarities

Visa and Mastercard were the two largest card networks in the U.S. in 2023, with a combined purchase volume of $4.46 trillion — a 6.4 percent increase over the 2022 year, according to early 2024 data from The Nilson Report. Visa credit transactions alone accounted for more than $3 trillion of that.

These networks help facilitate transactions between merchants and card issuers like banks and credit unions. Every time you use a credit card or debit card to make a purchase, your credit card network helps to process the transaction.

Visa and Mastercard share many similarities:

Neither company issues cards directly but instead partners with a variety of different card issuers.
Both are widely accepted throughout the United States and around the globe.
Both networks offer zero liability fraud protection, which protects you in the event that someone steals your credit card info or uses your card to make an unauthorized purchase.
Both credit card networks offer added perks related to travel, purchase protection and fraud protection. Individual perks and protections vary (detailed below).

Visa and Mastercard: Key differences

The main differences between Mastercard and Visa cards are relatively small and have to do with which specific banks and lenders they partner with.

The two networks also have different credit card tiers that come with different benefits. Visa has five main tiers: Visa Classic, Visa Gold, Visa Platinum, Visa Signature and Visa Infinite. Mastercard has four: Titanium Mastercard, Platinum Mastercard, World Mastercard and World EliteTM Mastercard. Each tier offers unique protections, benefits and privileges to fit your spending style.

Visa vs. Mastercard benefits

	Travel perks	Automobile perks	Other perks
Visa Classic	Cardholders can access over 1.9 million ATMs in more than 200 countries and territories worldwide	Access to Visa’s Global Customer Assistance Services	Emergency card replacement and emergency cash advance access
Visa Gold	Cardholders also enjoy emergency card replacement, a high spending line and cash disbursement services while traveling	Access to Visa’s Global Customer Assistance Services	Everything included in the Visa Classic, plus special recognition and offers at dining, travel and entertainment establishments
Visa Platinum	Cardholders additionally enjoy Visa Platinum Concierge access	Access to Visa’s Global Customer Assistance Services	Everything included in the Visa Classic and Gold, plus Visa Platinum Concierge privileges
Visa Signature	Everything included in the Visa Platinum, plus travel and emergency assistance services, lost luggage reimbursement and trip delay, cancellation or interruption reimbursement	Built-in auto rental coverage	Access to Visa Signature Concierge, plus extended warranty protection, price protection and return protection
Visa Infinite	Everything included in the Visa Signature, plus a Global Entry statement credit, airport lounge access and access to the Visa Infinite luxury hotel collection and concierge services	Built-in auto rental coverage	Everything included in the Visa Signature, plus access to Visa Infinite Concierge and other exclusive experiences and rewards
Titanium Mastercard	Mastercard Global Services	Available with some cards	Zero liability protection
Platinum Mastercard	Everything included in the Titanium Mastercard tier, plus curated benefits and offers	Available with some cards	Everything included in the Titanium Mastercard tier, plus access to Mastercard rewards and experiences
World Mastercard	Everything included in the Mastercard Titanium and Platinum tier, plus airport concierge access and hotel stay and lowest rate guarantees	Available with some cards	Everything included in the Mastercard Titanium and Platinum tier, plus partner discounts and cellphone protection
World Elite Mastercard	Everything included in the Mastercard World tier, plus access to World Elite concierge services	Available with some cards	Everything included in the Mastercard World Tier, plus exclusive discounts with partners like Lyft, Peacock and Instacart

Different benefits from different card issuers

While Mastercard benefits and Visa benefits are pretty similar, these additional perks are often offered at the discretion of individual card issuers. This means that, even if your card belongs to a particular Visa or Mastercard tier, it may not have the same benefits as another card at the same tier.

On the flip side, most cards also come with plenty of different perks and benefits that are unique to the card issuer, in addition to the benefits offered by the credit card network. If you’re curious about the benefits that come with a particular card, you should be sure to read the fine print to determine exactly what perks and add-ons are included.

Visa vs. Mastercard: Which is better?

If you’re trying to decide between a Visa credit card or a Mastercard, the reality is that either credit card network is likely a good choice. Both credit card networks are widely accepted throughout the United States and globally and have useful additional benefits. A card from either credit card network will be accepted pretty much everywhere you shop.

Which credit card network you choose ultimately matters much less than which specific credit card issuer and individual credit card you decide on. This is because the benefits offered by Mastercard and Visa are both pretty similar. While they both offer nice additional perks, Visa and Mastercard benefits are generally less important than more pertinent details like a particular credit card’s rewards structure or interest rate.

At a glance: Bankrate’s top picks for Visa and Mastercard credit cards

Card Name	Credit Card Network
Chase Sapphire Preferred® Card	Visa
Wells Fargo Active Cash® Card	Visa
Chase Freedom Unlimited®	Visa
U.S. Bank Cash+® Visa Signature® Card*	Visa
Capital One Venture Rewards Credit Card	Visa
Citi Rewards+® Card	Mastercard
Citi Double Cash® Card	Mastercard
Capital One SavorOne Cash Rewards Credit Card	Mastercard
Citi Strata Premier℠ Card	Mastercard
Capital One Quicksilver Cash Rewards Credit Card	Mastercard

The bottom line

Along with American Express and Discover, Visa and Mastercard are two of the major credit card networks. Visa and Mastercard don’t actually issue any credit cards themselves; instead, they partner with a variety of different financial institutions to issue cards.

While rewards credit cards belonging to the same credit card network do share some features, many of the most important aspects of a credit card are determined by the credit card issuer, not the credit card network. That means you probably shouldn’t choose a credit card based solely on whether it’s part of the Mastercard or Visa credit card network, as cards from either network will come with similar additional perks. You should also look into what each card issuer offers on any particular card.

*Information about the U.S. Bank Cash+® Visa Signature® Card has been collected independently by Bankrate. The card details have not been reviewed or approved by the card issuer.