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Author Topic: Hmm...O_o..What is the difference between Visa and Mastercard...  (Read 433 times)

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Offline WolfyTopic starter

Hmm...O_o..What is the difference between Visa and Mastercard...
« on: September 25, 2010, 07:48:01 AM »
All the time, I see places that they "No Visa" or "No Mastercard"...but I've always wondered..why? O-o...Aren't they the same thing, I.E. Credit Cards? Why is one credit better or worse than the other? O-o

Offline Ket

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Re: Hmm...O_o..What is the difference between Visa and Mastercard...
« Reply #1 on: September 25, 2010, 07:51:27 AM »
When you purchase something using a credit card from a merchant, the credit card company charges them a percentage of the purchase price as a fee. That's why many places will not accept American Express, because they charge the largest fee of them all.

So it all depends upon the rate the merchant is able to get from the credit card company. If they don't like the rate, they won't accept the card.

Offline WolfyTopic starter

Re: Hmm...O_o..What is the difference between Visa and Mastercard...
« Reply #2 on: September 25, 2010, 07:52:14 AM »
Ooh...o3o...Thanks Ket...I've always wondered about this. O_o

Offline Jeramiahh

Re: Hmm...O_o..What is the difference between Visa and Mastercard...
« Reply #3 on: September 25, 2010, 10:14:24 PM »
It's the same reason why some doctors won't accept some insurances; in order to accept an insurance, the doctor has to have a contract with the insurance, and some of the contracts can be pretty... one-sided.

Offline Serephino

Re: Hmm...O_o..What is the difference between Visa and Mastercard...
« Reply #4 on: September 25, 2010, 11:03:53 PM »
I don't think I've ever seen a place that only accepts one or the other, but they are two different companies.  I know Visa usually gives out lower interest rates for some reason.  The tattoo artist I went to accepts plastic, but charges you whatever fee they charge him for the privilege of doing business with them.  It's really stupid if you ask me.