Visa Credit Card

The difference between a MasterCard and a Visa credit card

The UK credit-cards market is congested and choice difficult, with so many hundreds of cards available. The Office of Fair Trading has called for more financial awareness among consumers and for credit providers to furnish clearer details of products. a1credit.co.uk would like to simplify the personal finance choices you might face; its guide to Visa credit cards is as follows:

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There are few differences between a MasterCard and a Visa credit card. MasterCard and Visa are the names of the global companies which manage credit cards, co-ordinating payment systems and keeping track of transactions. MasterCard and Visa credit cards can both be used all over the UK and abroad.

Before travelling, check which type of card is more established in the countries you plan to visit. MasterCard and Visa credit cards are both internationally recognised, but one might be used more habitually than the other depending on the country involved.

Visa credit cards

More than 20 million locations accept Visa credit cards, including most Internet shopping sites. Withdrawal of cash from over 800,000 cashpoints worldwide is also possible with a Visa credit card. The Visa payment system is owned by 21,000 financial institutions. The Olympic and Paralympic games and the Rugby World Cup are sponsored by Visa.

Tackling fraud

Visa has introduced ‘Verified by Visa’, a scheme to tackle fraud when giving details on the Internet. This service protects Visa card details with a password, but is currently in the early stages, with just a small number of retailers operating the scheme.

Visa credit cards and ‘Chip and PIN’

By 2005, most of the Visa credit cards in Europe will carry a chip, enabling safer shopping and reducing credit-card fraud. In France, a similar scheme has cut fraud by around 80%.

The right credit card for you

  You will need to shop around to decide which card (Visa or MasterCard) is best for you. Standard credit-card APRs can range from under 10% to over 30%, so check the deal is good before you sign up. The comparison service of a1credit.co.uk will assist you and will provide a list of the best deals for your situation. Just provide a few details about the kind of deal needed and the comparison calculator will do the rest. To find out the ideal credit card for you, check with a1credit.co.uk .