All About Financial Matters

Will You Select a MasterCard or a Visa Credit Card?

This question is almost as tough as deciding between Coke and Pepsi. Visa and Mastercard have been battling each other since the 1960s; however, it was American Express that really started the credit wars between the giants during the early 1960s. Amex, as it fondly came to be known, quickly became the preferred card of choice for most credit card users across the world.

The Visa Credit Card
First known as Bank Americard when it was launched by the Bank of America in 1959, it was re-christened as Visa after almost two decades. Now, it is used by more than 21 thousand organizations around the world. In Europe, Visa has always been more popular than MasterCard or Amex. Consider these statistics:

More than 5,000 organizations worldwide use the Visa card
Visa Europe has issued in excess of 100 million credit cards
During the last year Visa Europe consumers spent more than 700 billion Euros
Of this amount, UK Visa users spent almost 130 billion Euros

To combat internet fraud, the Verified by Visa program asks users for a password if they wish to make an ecommerce transaction on a website. This gives it a clear edge over MasterCard.

MasterCard
It was designated as a rival to the predecessor of the Visa card, Bank Americard. MasterCard was born towards the end of the 1960s, when a group of bankers in California fathered the Western States Bankcard Association. This was re-christened MasterCard at approximately the same time that Visa was renamed. Until about a decade ago, MasterCard was the unchallenged leader in the US. Even now, with growing competition, MasterCard is used in more than 25 million locations across the globe surpassing other cards.

You can get a MasterCard in World, Platinum, Gold, as well as Standard formats and its SecureCode program offers a code which helps prevent the card from being abused online. Even so, the verification process is not as secure or as well-liked as Visa’s is.

MasterCard or Visa?
Most merchant establishments accepted both the Visa and the MasterCard. However, there are clear loyalists for both cards. While MasterCard is more popular all over the world, Visa is quickly catching up primarily due to its secure verification processes online. So most consumers prefer to keep one card from each company and use each card according to their individual requirements. Which one is more popular is anyone’s guess. While each card has its own merits, the safest statistic to believe is that while half a dozen people prefer Visa, six are loyal to aboutyourmoney.co.uk/credit-cards/mastercard-credit-cards.htm Mastercard.

Matthew Lloyd writes for About Your Money. His articles provide users with useful advice on a variety of financial products, including aboutyourmoney.co.uk/credit-cards/balance-transfers-credit-cards.htm credit cards.

To find About Your Money visit aboutyourmoney.co.uk www.aboutyourmoney.co.uk

The Lowdown on the Sony Visa Card

The Sony Platinum Visa Card is a credit card with a unique reward program particularly for those with good credit scores. Cardholders are entitled to earn one point for every dollar spent on general purchases and three points for purchases of Sony merchandise charged to the Sony Visa Card.

Purchases made through www.sony.com/mysony are entitled for a whopping eight points for every dollar spent. These points can then be redeemed for Sony CDs, DVDs, games, movie tickets, and electronics. The points expire in five years if they aren’t redeemed with a 250,000 point per year limit, which is well high and reasonable. There is no point limit for purchases made through Sony’s website. On top of that, cardholders are able to earn 1,500 bonus points on their first purchase.

Overall, the Sony Visa Card is a great card, with reasonable interest rates and a 0% introductory rate applicable for new purchases or balance transfers made within the first twelve months upon joining. No annual fees are charged either.

However, finance charges are calculated based on the “Two Cycles Average Daily Balance” method which is higher than the more commonly used “Average Daily Balance” calculation. This may result in higher charges, so it is advisable not to carry an outstanding balance forward when using this card. The APR for less qualifying applicants may also be higher.

On a more positive note, this credit card company provides platinum cardholders benefits of up to $1,000,000 in travel accident insurance, auto rental insurance, and various travel and emergency assistance services.

All in all, The Sony Visa Card is ideal for those who spend or plan to spend a significant sum on Sony merchandise and also those who intend to take full advantage of the online shopping experience Sony has to offer. As long as card members do not default on their outstanding balances, then they will have much to gain from using the Sony Visa Card.

For more information or to apply for the findcreditcards.org/card/sony-platinum-visa-card.php Sony Visa Card, Eric Wasselman recommends Find Credit Cards.