MasterCard losing ground?

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Brad Bishop
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Re: MasterCard losing ground?

Postby Brad Bishop » Thu Apr 21, 2016 8:34 am

kdm31091 wrote:Some banks are more Visa heavy and some are more MC heavy. It has to do, I'm sure, with whatever deal they strike up with the network.

Don't think either one is going anywhere anytime soon.


My bank (USAA) just announced the switch from MasterCard to Visa. They used to be MasterCard centric up until about 5 years ago. Then they offered Visa. Now they're dumping MasterCard completely.

I assume it has to do with the competition and negotiation of fees in the contracts and it's probably ultimately good for the consumer.

In another way, it's kind of odd to me, just from a historical perspective. It used to be that you could pretty much get a MasterCard or Visa from just about any bank (well, before banks became credit-card centric, I suppose).


TXviking
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Re: MasterCard losing ground?

Postby TXviking » Thu Apr 21, 2016 6:10 pm

Yeah, I remember applying for cards in the (now-distant) past where they would ask me during the application whether I wanted a MasterCard or a Visa. With MBNA, I had one of each.

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Vattené
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Re: MasterCard losing ground?

Postby Vattené » Thu Apr 21, 2016 8:49 pm

Interesting, I didn't know that used to happen. Did you have a preference? Or do you know of a reason why someone would have favored one over the other? I personally view them as pretty indistinguishable, at least now.
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TXviking
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Re: MasterCard losing ground?

Postby TXviking » Thu Apr 21, 2016 10:18 pm

I didn't really have a preference, as there was no discernible difference between the two to an average consumer, even back then. And banks like MBNA who gave you a choice would give you the same terms and conditions with either one. The benefits might have varied a bit between them; I didn't pay too much attention to that back then.

I do remember I thought MasterCard had the better logo. :rolleyes:

Brad Bishop
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Re: MasterCard losing ground?

Postby Brad Bishop » Fri Apr 22, 2016 7:56 am

Vattené wrote:Interesting, I didn't know that used to happen. Did you have a preference? Or do you know of a reason why someone would have favored one over the other? I personally view them as pretty indistinguishable, at least now.


I think the preference likely revolved around who was doing more advertising at the time and, maybe, if you already had one, then you might apply to get the other but, even then, I don't think that was all that common. Most people just had a 'credit card'. They didn't have a dozen of them. Even today I think the average number of credit cards per person is 1.6 (as of a year or so ago). That really surprised me. I thought it'd be 2-3 figuring most would have a combination of each of the brands (like a Visa and Discover or a Visa and Amex - that sort of thing. Not one of each but more than 1).

Day-to-day, every store that took one took the other.

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Re: MasterCard losing ground?

Postby Tubpbs » Fri Apr 22, 2016 4:42 pm

Brad Bishop wrote:
Vattené wrote:Interesting, I didn't know that used to happen. Did you have a preference? Or do you know of a reason why someone would have favored one over the other? I personally view them as pretty indistinguishable, at least now.


I think the preference likely revolved around who was doing more advertising at the time and, maybe, if you already had one, then you might apply to get the other but, even then, I don't think that was all that common. Most people just had a 'credit card'. They didn't have a dozen of them. Even today I think the average number of credit cards per person is 1.6 (as of a year or so ago). That really surprised me. I thought it'd be 2-3 figuring most would have a combination of each of the brands (like a Visa and Discover or a Visa and Amex - that sort of thing. Not one of each but more than 1).

Day-to-day, every store that took one took the other.


Don't forget there is probably a larger portion of people who have no credit cards at all than behave like the people on this forum.
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Re: MasterCard losing ground?

Postby JonE » Fri Apr 22, 2016 8:26 pm

Tubpbs wrote:
Brad Bishop wrote:
Vattené wrote:Interesting, I didn't know that used to happen. Did you have a preference? Or do you know of a reason why someone would have favored one over the other? I personally view them as pretty indistinguishable, at least now.


I think the preference likely revolved around who was doing more advertising at the time and, maybe, if you already had one, then you might apply to get the other but, even then, I don't think that was all that common. Most people just had a 'credit card'. They didn't have a dozen of them. Even today I think the average number of credit cards per person is 1.6 (as of a year or so ago). That really surprised me. I thought it'd be 2-3 figuring most would have a combination of each of the brands (like a Visa and Discover or a Visa and Amex - that sort of thing. Not one of each but more than 1).

Day-to-day, every store that took one took the other.


Don't forget there is probably a larger portion of people who have no credit cards at all than behave like the people on this forum.


Very true, these forums (and especially MyFico) are nowhere near the norm. Hell, I'll probably wind up with only 2 myself.
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Brad Bishop
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Re: MasterCard losing ground?

Postby Brad Bishop » Sat Apr 23, 2016 8:09 am

Tubpbs wrote:Don't forget there is probably a larger portion of people who have no credit cards at all than behave like the people on this forum.


There are a lot of young adults who have zero credit cards and want nothing to do with them. Each of my daughters are like that. I try to tell them to get one for travel because it makes things a lot easier and reduces risk vs using your debit card but they won't do it. I also tell them it's good to try to build some credit for when you want a car or house but they still avoid it.

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Re: MasterCard losing ground?

Postby Tubpbs » Sat Apr 23, 2016 12:00 pm

Brad Bishop wrote:
Tubpbs wrote:Don't forget there is probably a larger portion of people who have no credit cards at all than behave like the people on this forum.


There are a lot of young adults who have zero credit cards and want nothing to do with them. Each of my daughters are like that. I try to tell them to get one for travel because it makes things a lot easier and reduces risk vs using your debit card but they won't do it. I also tell them it's good to try to build some credit for when you want a car or house but they still avoid it.


You should maybe try sending them third party info so they take it more seriously.

They're going to have issues with lots of things if they have no established credit as adults...
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Chase - Freedom, CSP, RC, Ink Plus
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Re: MasterCard losing ground?

Postby Nixon » Sat Apr 23, 2016 1:17 pm

Brad Bishop wrote:
Tubpbs wrote:Don't forget there is probably a larger portion of people who have no credit cards at all than behave like the people on this forum.


There are a lot of young adults who have zero credit cards and want nothing to do with them. Each of my daughters are like that. I try to tell them to get one for travel because it makes things a lot easier and reduces risk vs using your debit card but they won't do it. I also tell them it's good to try to build some credit for when you want a car or house but they still avoid it.

Their loss is my gain.
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