Visa Sig vs World Mastercard

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
7 posts
aj023
Gold Member
Gold Member
 
Posts: 39
Joined: Sat Jan 23, 2016 3:22 pm

Visa Sig vs World Mastercard

Postby aj023 » Tue Jan 26, 2016 11:17 am

I have Chase Sapphire no fee version which initially was a World Mastercard which they converted on their own to Visa Signature. I also have a Barclays Arrival World Mastercard. So the changeover for me obviously worked out as I use these two cards as my Visa and Mastercard of choice.

But what is the difference between the two issuers assuming perks are kept similar by the Card issuers? Was the Chase switchover a downgrade to save on costs or did it provide consumer benefits?

I know for instance you have different promotionals for merchants depending on credit card network, and some nations may only accept one card over another, but are the differences significant?

American Express also has its own tieins to different vendors and services but is less accepted as is Discover.


kdm31091
Centurion Member
Centurion Member
 
Posts: 1074
Joined: Sat Feb 21, 2015 3:35 pm
Location: Claymont, DE

Re: Visa Sig vs World Mastercard

Postby kdm31091 » Tue Jan 26, 2016 11:57 am

aj023 wrote:I have Chase Sapphire no fee version which initially was a World Mastercard which they converted on their own to Visa Signature. I also have a Barclays Arrival World Mastercard. So the changeover for me obviously worked out as I use these two cards as my Visa and Mastercard of choice.

But what is the difference between the two issuers assuming perks are kept similar by the Card issuers? Was the Chase switchover a downgrade to save on costs or did it provide consumer benefits?

I know for instance you have different promotionals for merchants depending on credit card network, and some nations may only accept one card over another, but are the differences significant?

American Express also has its own tieins to different vendors and services but is less accepted as is Discover.


I'm pretty sure the Chase switchover had nothing to do with saving costs with regard to MC/Visa Sig. They simply switched many of their former MC products (like Freedom) over to Visa. Citi did the same thing in reverse recently; they have few Visas now, mostly MCs.

The difference between Visa Sig and WMC, or Visa and MC in general, to me, is negligible. 99.9% of the time, a merchant who takes Visa takes MC, and vice versa. They are both almost always accepted. There's very few situations where you need a MC or Visa specifically. World MC and Visa Sig provide different benefits, but most of them are niche and not really anything that people tend to use on a daily basis. So no, I'd say the difference is definitely not significant.

aj023
Gold Member
Gold Member
 
Posts: 39
Joined: Sat Jan 23, 2016 3:22 pm

Re: Visa Sig vs World Mastercard

Postby aj023 » Tue Jan 26, 2016 3:11 pm

kdm31091 wrote:
aj023 wrote:I have Chase Sapphire no fee version which initially was a World Mastercard which they converted on their own to Visa Signature. I also have a Barclays Arrival World Mastercard. So the changeover for me obviously worked out as I use these two cards as my Visa and Mastercard of choice.

But what is the difference between the two issuers assuming perks are kept similar by the Card issuers? Was the Chase switchover a downgrade to save on costs or did it provide consumer benefits?

I know for instance you have different promotionals for merchants depending on credit card network, and some nations may only accept one card over another, but are the differences significant?

American Express also has its own tieins to different vendors and services but is less accepted as is Discover.


I'm pretty sure the Chase switchover had nothing to do with saving costs with regard to MC/Visa Sig. They simply switched many of their former MC products (like Freedom) over to Visa. Citi did the same thing in reverse recently; they have few Visas now, mostly MCs.

The difference between Visa Sig and WMC, or Visa and MC in general, to me, is negligible. 99.9% of the time, a merchant who takes Visa takes MC, and vice versa. They are both almost always accepted. There's very few situations where you need a MC or Visa specifically. World MC and Visa Sig provide different benefits, but most of them are niche and not really anything that people tend to use on a daily basis. So no, I'd say the difference is definitely not significant.


Bank Of America swapped a card from Visa or MC, I forget which I had to American Express on their own. I never used the card which they eventually closed out for non usage. I thought that was weird since it wasn't in the same league. I would never use a poor reward BoA branded American Express card. All my credit card business Is now a combination of Amex, Chase and Barclays. If I wanted a new BoA card I can get new bonuses for a card I really wanted but I don't like their service quality. Barclays has better rewards and their IT department is quite good.

User avatar
CarefulBuilder14
Centurion Member
Centurion Member
 
Posts: 4445
Joined: Thu May 08, 2014 7:42 pm
Location: United States

Re: Visa Sig vs World Mastercard

Postby CarefulBuilder14 » Tue Jan 26, 2016 7:54 pm

I think that VS, VSP, WMC, and WEMC are about:
1. Charging merchants higher fees.
2. Giving customers the illusion of status.
3. To a lesser degree, providing actual useful benefits to customers.

There are a lot more threads about people wanting to get "upgraded" than actually ever using the associated card benefits.
Warranties and sketchy merchants: Schwab Platinum
Price rewind: Costco
Travel insurance: Prestige, CSP
Perks: IHG, Hyatt
Rewards/Offers: Discover, Freedom, ED, BCE
Taxes/Misc: SPG

Limited value, might close: Arrival

Might add: First Tech, proper business card

Elijahmex
Centurion Member
Centurion Member
 
Posts: 180
Joined: Mon Sep 29, 2014 1:10 am
Location: EURO-US

Re: Visa Sig vs World Mastercard

Postby Elijahmex » Tue Jan 26, 2016 8:40 pm

kdm31091 wrote:
aj023 wrote:I have Chase Sapphire no fee version which initially was a World Mastercard which they converted on their own to Visa Signature. I also have a Barclays Arrival World Mastercard. So the changeover for me obviously worked out as I use these two cards as my Visa and Mastercard of choice.

But what is the difference between the two issuers assuming perks are kept similar by the Card issuers? Was the Chase switchover a downgrade to save on costs or did it provide consumer benefits?

I know for instance you have different promotionals for merchants depending on credit card network, and some nations may only accept one card over another, but are the differences significant?

American Express also has its own tieins to different vendors and services but is less accepted as is Discover.


I'm pretty sure the Chase switchover had nothing to do with saving costs with regard to MC/Visa Sig. They simply switched many of their former MC products (like Freedom) over to Visa. Citi did the same thing in reverse recently; they have few Visas now, mostly MCs.

The difference between Visa Sig and WMC, or Visa and MC in general, to me, is negligible. 99.9% of the time, a merchant who takes Visa takes MC, and vice versa. They are both almost always accepted. There's very few situations where you need a MC or Visa specifically. World MC and Visa Sig provide different benefits, but most of them are niche and not really anything that people tend to use on a daily basis. So no, I'd say the difference is definitely not significant.


Costco does not accept MC. Visa & AMEX only
Image

User avatar
CarefulBuilder14
Centurion Member
Centurion Member
 
Posts: 4445
Joined: Thu May 08, 2014 7:42 pm
Location: United States

Re: Visa Sig vs World Mastercard

Postby CarefulBuilder14 » Tue Jan 26, 2016 8:44 pm

Elijahmex wrote:Costco does not accept MC. Visa & AMEX only

MC in Canada. Still only Amex in the USA, soon to be replaced with Visa.

But anything flies (at least in the USA) if you buy Costco Cash online.
Warranties and sketchy merchants: Schwab Platinum
Price rewind: Costco
Travel insurance: Prestige, CSP
Perks: IHG, Hyatt
Rewards/Offers: Discover, Freedom, ED, BCE
Taxes/Misc: SPG

Limited value, might close: Arrival

Might add: First Tech, proper business card

takeshi
Centurion Member
Centurion Member
 
Posts: 1741
Joined: Wed Jun 05, 2013 3:12 pm
Location: US

Re: Visa Sig vs World Mastercard

Postby takeshi » Wed Jan 27, 2016 7:28 am

aj023 wrote:But what is the difference between the two issuers assuming perks are kept similar by the Card issuers?

There are some tier-specific benefits but you'd have to compare the benefits as outlined by the creditor as it can vary a bit by creditor/product. There are differences but I didn't see them as significant. I don't have much use for the tier-specific benefits. If you have to ask they probably were not a priority for you as you would have been aware of them.

aj023 wrote:Was the Chase switchover a downgrade to save on costs or did it provide consumer benefits?

It may have saved costs. We don't have such details. All we know is that they were realigning most of their portfolio to Visa. It's not uncommon for creditors to do this as stated above. IIRC, USAA is in the process of switching to Visa. Some creditors have switched to MC.

aj023 wrote:I know for instance you have different promotionals for merchants depending on credit card network, and some nations may only accept one card over another, but are the differences significant?

Depends on who you ask. For those that make use of the tier-specific benefits and are impacted by the differences in VS versus WMC it would certainly be significant. IIRC car rental coverage is one example where there were some differences. Countries excluded differed a bit so if one traveled frequently to a country covered by one and excluded by another and used card coverage then that could be one significant different. Significance isn't just about the card but one's specific needs/wants. If you never use the tier specific benefits and don't know anything about them then, again, they're probably not significant differences to you.

aj023 wrote:American Express also has its own tieins to different vendors and services but is less accepted as is Discover.

Sure but acceptance is also a subjective matter. I rarely have problems with AmEx or Discover acceptance and it's really no big deal to use another card the few times it is an issue. However, if you frequent merchants that do not accept one, the other, or both it could certainly be significant. Don't rely solely on broad, sweeping generalizations and use what specifically works for you.



Return to “Visa & MasterCard”

Who is online

Users browsing this forum: No registered users and 3 guests