American Express vs Visa vs MasterCard, all these are different processing networks of a credit card. The difference between these processing networks might not be visible to a common eye but these processors are in charge of overseeing every aspect of the buying process, from authorizing or denying payment to safeguarding you from fraud, giving travel advantages as well as other safeguards as per their policies.
Now you see how many important decisions they make for you, that is why it is important to know the distinction clearly to choose the one best suitable for you.
Credit Card Issuer:
Visa: Only a processing network.
MasterCard: Only a processing Network.
American Express: Both, a credit card issuer and a processing network.
Credit Score:
Visa: You can get a visa credit card even if you have a “fair” credit score.
MasterCard: You can also get a Master Card sanctioned with a “fair” credit score.
American Express: Getting Amex Credit Cards is comparatively hard because for that you need to have at least agood credit card score of 630 or more.
Worldwide Acceptance:
Visa: Visa credit cards are recognized and accepted in 200+ countries.
MasterCard: MasterCards are accepted in 210+ countries.
AmericanExpress: American Express Credit Cards are only accepted in around 160 countries. In contrast to the credit cards with the above-given processing networks, you will have more difficultyin finding merchants accepting Amex Credit Cards.
Features:
Visa: Visa Credit Cards has the following features:
- Wider acceptance.
- Zero Card liability for lost or stolen cards.
- Emergency and fast card replacement.
- Visa has a comparatively larger user network than most other credit card processing networks.
- The Visa membership is of three types: Base, Signature & Infinite
- The Visa cards are of the following types: Visa Classic Credit Card, Visa Gold Credit Card, Visa Platinum Credit Card, Visa Signature Credit Card, and Visa Infinite Credit Card
Mastercard:
- Contactless Payments.
- Worldwide acceptance
- Exclusive Mastercard Luxury Hotel & Resorts offers.
- Get International experience with Priceless cities.
- Insurance benefits related to Baggage, travel accident, trip cancellation.
- Minimize online fraud risks with Master Pass.
- Worldwide premium travel benefits
American Express:
- Not only a processing network but also a credit card issuer.
- Exclusive Concierge services.
- Insurance benefits related to Car Rental Loss, Trip delay, travel, etc.
- The Processing fee for American Express credit cards is higher than other processing networks.
- Amex Credit Card is considered apremium credit card category.
- Comparatively Limited acceptance than a Visa or Master Card.
Top Credit Card Available:
Visa:
- Yatra SBI Credit Card
- IndusInd Bank Platinum Credit Card
- HDFC Regalia Credit Card
- SBI Card ELITE
- Amazon Pay ICICI Credit Card
Mastercard:
- ICICI Bank Sapphiro Credit Card.
- HSBC Premier Master Card.
- Axis Bank Miles & More Credit Card.
- HDFC Bank MoneyBack Credit Card
American Express:
- Amex Platinum Travel Credit Card Review
- American Express SmartEarn Credit Card
- Jet Airways American Express Platinum Credit Card
- American Express Gold Card
Additional Reading - 5 Common Signs of Wrong Credit Card Usage
