Visa vs. Mastercard: Differences & Which Should You Choose

When I worked as the office manager for a sea kayaking company, I took a lot of reservations over the phone. Each time, I had to get the client’s credit card number. I’d always start by asking what type of card he or she had, until eventually I noticed a pattern.

If the card number started with 4, it was a Visa; with 5, it was a Mastercard; with 3, it was an American Express.

That observation only led to more questions: Besides the numbers they start with, what’s the difference between Visa and Mastercard? Which is better: Visa or Mastercard? At long last, I decided to dive into the topic — here’s what I learned.

Visa vs. Mastercard: What Are They, Exactly?

Visa and Mastercard are credit card networks. Although it’s a common misconception, Visa and Mastercard do not issue credit cards — you wouldn’t, for example, send Visa an application to get approved for a credit card.

Here’s why:

• Credit card issuers, like Chase and Barclays, physically approve your credit card applications, determine your credit limits and interest rates, and send you statements each month. They also manage rewards programs.
• Credit card networks, like Visa and Mastercard, act as liaisons between financial institutions and merchants. Each time you swipe your card, it’s the network that processes the transaction. Though they’re often called credit card networks, “payment network” is a more accurate description, because they support debit card transactions, too.

That’s why, even if you get a card from your bank, it’ll still have a Visa or Mastercard logo in the bottom corner. Your bank is the one loaning you the money, in the case of credit cards, but Visa or Mastercard is the one transmitting the information that makes your payment go through.

Visa and Mastercard are the largest payment networks in the world. In the United States in 2017, Visa cards accounted for a whopping 53% of credit purchase volume, according to The Nilson Report, followed by Mastercard (22%), American Express (21%), and Discover (4%).

Discover and Amex are unique in the payment processing world because they wear the hats of both credit card network and issuer. In other words, they issue their own cards and also process their own payments.

What’s the Difference Between Visa and Mastercard?

So what is the difference between Visa and Mastercard? For the everyday user, not a whole lot.

Both types of cards are accepted widely around the globe, at tens of millions of merchants and in more than 200 countries. On rare occasions, certain merchants will strike deals with certain networks: The most famous U.S. example is Costco, which only accepts Visa cards.

In 2016, Visa accounted for $139 billion of worldwide purchase transactions, trailed by Mastercard with $67.3 billion. Since American Express and Discover aren’t accepted as widely, they only accounted for a fraction of that: $7.2 and $2.3 billion, respectively.

But aside from differences in acceptance and transaction volume, the main difference between Visa and Mastercard — and the one you’re most likely to notice — is that they occasionally offer slightly different benefits.

When it comes to Visa vs. Mastercard, you’ll see the biggest differences when it comes to each network’s cardmember tiers. Which tier you qualify for — and which benefits are included — depends on a range of factors, including your income, credit scores, and chosen card. Here’s more information about the differences between Visa Traditional, Visa Signature, and Visa Infinite and Standard Mastercard, World Mastercard, and World Elite Mastercard.

Here’s what Mastercard and Visa have in common:

• Contactless technology: This newish feature allows you to tap your card on the payment terminal and go. Both Visa and Mastercard support contactless credit cards.
• Fraud protections: One of the best features of credit cards (as opposed to debit cards) is $0 liability. If someone makes an unauthorized purchase on your card, neither Visa nor Mastercard will make you pay for it (as long as you alert your card issuer quickly). When you’re shopping online, you can also sign up for additional layers of security, such as Visa Secure or Mastercard SecureCode.

Here’s where you might find slight differences between Visa and Mastercard:

• Conversion rates: In many cases, Mastercard offers slightly better exchange rates when you make purchases in a foreign currency. Check the rates for yourself with these calculators from Mastercard and Visa.
• Auto rental collision damage waiver: While many credit cards come with rental car insurance, coverage varies depending on the card network, issuer, and type. Visa, for example, doesn’t set a limit on its loss-of-use coverage, whereas Mastercard may cap it at $500. Here’s which credit cards offer the best car rental insurance.
• Return protection: When a merchant won’t accept your eligible return, return protection will refund the cost, as long as the purchase was made on your card. Most Mastercards come with this “Satisfaction Guarantee,” which usually offers refunds of up to $250 within 60 days of a purchase. While Visa only guarantees return protection with its Infinite cards, Signature cards may have it, as well.
• Purchase protection: Bought a new tennis racket, only to have it stolen a week later? This insurance might have your back. Mastercard typically covers eligible purchases for up to 90 days, as do Visa Signature and Infinite cards.
• Price protection: If you find a lower price for an item soon after you buy it, this feature may refund you the difference. Standard Mastercards typically offer this for up to 60 days after purchase, and Mastercard World and World Elite cards may offer it for up to 120 days. Certain Visa cards offer price protection, too.

With many of these credit card benefits, the fine print is up to the issuer — so be sure to study your particular card’s terms and conditions before deciding to apply.

Is Mastercard or Visa better in Europe? The truth is both types of cards are widely accepted abroad, and are therefore better choices for international travel than Amex or Discover. As noted above, Mastercard may offer a slightly better exchange rate than Visa, but if you don’t travel frequently, it probably won’t make a huge difference. When comparing travel credit cards, look for one that doesn’t charge foreign transaction fees and offers a solid rewards program. For Europe specifically, you also might want to consider chip-and-PIN cards, which work best with the continent’s automated ticket machines.

Which Is Better: Visa or Mastercard?

Neither network is better than the other. Both offer extensive worldwide acceptance, as well as many of the same perks. To the average credit card user, you’re not going to notice much of a difference.

The main thing to keep in mind is that, in some cases, card benefits (learn more about Visa benefits and Mastercard benefits) and certain fees can vary between the two. For example, Mastercard is known for offering lower currency conversion rates, which may be important if you travel or make international purchases frequently.

As for perks, make sure to check the card’s benefits before applying; you should be able to find them online pretty easily. You’ll likely see a lot of similarities and only minor differences.

Should You Have a Visa and a Mastercard?

There’s no reason not to have both a Visa and a Mastercard, but you don’t need a card that uses each network. Just apply for which credit cards make the most sense for your spending, and go from there.

There may very well be situations in which you’d want both a Visa and a Mastercard. Say, for example, you’re an avid international traveler — you might want the Chase Sapphire Reserve® (a Visa card) to rack up travel rewards on domestic purchases, then something like the (a Mastercard) to save on exchange fees while still earning cash back on every purchase.

8 Visas and Mastercards We Recommend

Generally speaking, you’ll find more co-branded Visa cards — with airlines and hotels, for example — and more secured Mastercards, for people with limited or poor credit. But when it comes down to the nuts and bolts, we wouldn’t say there are make-or-break differences between Visas and Mastercards.

So, rather than focusing on the network, we’d recommend focusing on the perks and benefits that each specific card offers. Look for low or no annual fees, high-quality customer service, and easy-to-use rewards.

Insider tip

Before applying for a card, make sure you understand exactly how credit cards work. We’d also advise checking your credit scores and reports.

Here are some of our favorite credit cards that run on the Visa or Mastercard networks.

Best For	Visa	Mastercard
Limited credit	Journey Student Rewards from Capital One	Capital One Platinum Credit Card
Cash back	Chase Freedom Unlimited®
Travel or dining	Chase Sapphire Preferred® Card	Capital One SavorOne Cash Rewards Credit Card
High-end travel rewards	Chase Sapphire Reserve®

Best for limited credit

Journey Student Rewards from Capital One

• Min. credit level: Limited Credit History
• Annual Fee: $0
• Purchase APR: 26.99% Variable
• The product details in this article were not provided or reviewed by the issuer.
• Earn 1% cash back on all your purchases. Pay on time to boost your cash back to a total of 1.25% for that month
• Earn $5 per month for 12 months on Select Streaming Subscriptions when you pay on time. *Exclusions Apply
• Enjoy no annual fee and no foreign transaction fees
• You can help build your credit with responsible use of a card like this
• Pick the monthly due date that works best for you
• Be automatically considered for a higher credit line in as little as 6 months
• $0 fraud liability if your card is ever lost or stolen
• Monitor your credit profile with the CreditWise® app, free for everyone

Spending Rewards
1% cash back on all purchases Pay on time and that goes up to 1.25% cash back

Balance transfers

A balance transfer is a way to move debt from one card to another with the goal of saving money on interest.

• Intro Balance Transfer APR: N/A
• Regular Balance Transfer APR: 26.99% Variable
• Balance Transfer Fee: $0 at this Transfer APR
• Penalty APR: None
• Late Fee: Up to $40
• Returned Payment Fee: N/A
• Additional Cards Annual Fee: N/A
• Foreign Transaction Fee: None

The information related to Journey Student Rewards from Capital One has been collected by Credit Card Insider and has not been reviewed or provided by the issuer or provider of this product.

Key features

• Annual fee: $0
• Access a higher credit line: You may be automatically considered for a higher credit line after six months.
• Rewards: 1% cash back on every purchase; if you pay on time, that increases to 1.25%
• No foreign transaction fees

Despite the name, you can get this intro-level credit card even if you’re not a student. We love that this Visa offers cash back rewards, and a bonus for on-time payments.

Capital One Platinum Credit Card

• Min. credit level
• Annual Fee: $0
• Purchase APR: 26.99% Variable
• The product details in this article were not provided or reviewed by the issuer.
• Pay no annual fee
• Be automatically considered for a higher credit line in as little as 6 months
• Fraud coverage if your card is lost or stolen
• Use online banking to access your account, even from your smartphone, with our mobile app
• Check out quickly and securely with a contactless card, without touching a terminal or handing your card to a cashier. Just hover your card over a contactless reader, wait for the confirmation, and you’re all set
• Pay by check, online or at a local branch, all with no fee – and pick the monthly due date that works best for you
• Get access to your account 24 hours a day, 7 days a week
• Help build your credit through responsible use of a card like this

Balance transfers

• Intro Balance Transfer APR: N/A
• Regular Balance Transfer APR: 26.99% Variable
• Balance Transfer Fee: $0 at this Transfer APR
• Penalty APR: None
• Late Fee: Up to $40
• Returned Payment Fee: N/A
• Additional Cards Annual Fee: N/A
• Foreign Transaction Fee: None

The information related to Capital One Platinum Credit Card has been collected by Credit Card Insider and has not been reviewed or provided by the issuer or provider of this product.

Key features

• Annual fee: $0
• Access a higher credit line: You may be automatically considered for a higher credit line after six months.
• Rewards: None
• No foreign transaction fees

This easy-approval Mastercard is great for brand-new credit users because you can get a credit limit increase consideration after your first six months. Combined with a lack of fees, and a rewards system that incentivizes responsible card use, it’s a solid choice for a first credit card.

Best for cash back

Chase Freedom Unlimited®

• Min. credit level: Good
• Annual Fee: $0
• Purchase APR: 0% Intro APR on Purchases for 15 months, then 14.99% – 24.74% Variable
• INTRO OFFER: Earn an additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year) – worth up to $300 cash back!
• Enjoy 6.5% cash back on travel purchased through Chase Ultimate Rewards^®, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more; 4.5% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and 3% on all other purchases (on up to $20,000 spent in the first year).
• After your first year or $20,000 spent, enjoy 5% cash back on Chase travel purchased through Ultimate Rewards^®, 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and unlimited 1.5% cash back on all other purchases.
• No minimum to redeem for cash back. You can choose to receive a statement credit or direct deposit into most U.S. checking and savings accounts. Cash Back rewards do not expire as long as your account is open!
• Enjoy 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 14.99% – 23.74%.
• No annual fee – You won’t have to pay an annual fee for all the great features that come with your Freedom Unlimited^® card
• Keep tabs on your credit health, Chase Credit Journey helps you monitor your credit with free access to your latest score, real-time alerts, and more.

Spending Rewards
6.5% cash back (5% after first year or $20,000 spent) on: Travel purchased through Chase Ultimate Rewards®
4.5% cash back (3% after first year or $20,000 spent) on: Drugstore purchases Dining at restaurants, including takeout and eligible delivery service
3% cash back (1.5% after first year or $20,000 spent) on: all other purchases

Introductory Bonus
Earn an extra 1.5% on everything you buy (on up to $20,000 spent in the first year) — worth up to $300 cash back. That’s 6.5% on travel purchased through Chase Ultimate Rewards®, 4.5% on dining and drugstores, and 3% on all other purchases.

Balance transfers

• Intro Balance Transfer APR: 0% Intro APR on Balance Transfers for 15 months
• Regular Balance Transfer APR: 14.99% – 24.74% Variable
• Balance Transfer Fee: Either $5 or 3% of the amount of each transfer, whichever is greater in the first 60 days
• Penalty APR: Up to 29.99%
• Late Fee: See Terms
• Returned Payment Fee: See Terms
• Additional Cards Annual Fee: N/A
• Foreign Transaction Fee: 3% of each transaction in U.S. dollars

The information related to Chase Freedom Unlimited® has been collected by Credit Card Insider and has not been reviewed or provided by the issuer or provider of this product.

Key features

• Annual fee: $0
• Introductory bonus: Earn an extra 1.5% on everything you buy (on up to $20,000 spent in the first year) — worth up to $300 cash back. That’s 6.5% on travel purchased through Chase Ultimate Rewards®, 4.5% on dining and drugstores, and 3% on all other purchases.
• Rewards: 5% cash back on Lyft rides (through March 2022), 5% back for travel purchased from Chase Ultimate Rewards, 3% cash back at restaurants and drugstores, and 1.5% cash back on everything else

Are you the weekly shopper in the family? Then this card might be right for you. You’ll get one of the highest cash back rates for grocery store purchases, an easy win with the signup bonus, and a long 0% intro rate for purchases. For no annual fee, what more could you ask for?

Key features

• Annual fee: None
• Rewards: 2% cash back on every purchase: 1% when purchases are made, 1% when they’re paid for (must pay at least the minimum due on time)
• Balance Transfer APR: 0% for None for transfers completed within 4 months, then None

If you’re not interested in rotating categories — and just want easy-to-earn cash back — this is one of the simplest rewards cards to use. You’ll get 2% cash back on everything; no need to sign up, and no need to track categories. With no annual fee and a 0% introductory APR for None, it might be our favorite cash back card ever.

Best for travel or dining

Chase Sapphire Preferred® Card

• Min. credit level: Good
• Annual Fee: $95
• Purchase APR: 15.99% – 22.99% Variable
• Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That’s $750 when you redeem through Chase Ultimate Rewards®.
• Enjoy benefits such as a $50 annual Ultimate Rewards Hotel Credit, 5x on travel purchased through Chase Ultimate Rewards®, 3x on dining and 2x on all other travel purchases, plus more.
• Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards®. For example, 60,000 points are worth $750 toward travel.
• With Pay Yourself Back℠, your points are worth 25% more during the current offer when you redeem them for statement credits against existing purchases in select, rotating categories
• Get unlimited deliveries with a $0 delivery fee and reduced service fees on eligible orders over $12 for a minimum of one year with DashPass, DoorDash’s subscription service. Activate by 03/31/22.
• Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.

Spending Rewards
5X Ultimate Rewards points per dollar: Travel purchased through Chase Ultimate Rewards Lyft rides (through March 2022)
3X Ultimate Rewards points per dollar: Dining Select streaming services Online grocery purchases (excluding Target, Walmart, and wholesale clubs)
2X Ultimate Rewards points per dollar for other Travel purchases
1X Ultimate Rewards point per dollar on all other purchases

Introductory Bonus
60,000 bonus points after spending $4,000 on purchases in the first 3 months

Bonus restrictions

You are ineligible for this bonus if you have a Sapphire card, or you’ve received a new cardmember bonus for any Sapphire card in the past 48 months.

Balance transfers

• Intro Balance Transfer APR: N/A
• Regular Balance Transfer APR: 15.99% – 22.99% Variable
• Balance Transfer Fee: Either $5 or 5% of the amount of each transfer, whichever is greater
• Penalty APRUp to 29.99%
• Late FeeSee Terms
• Returned Payment FeeSee Terms
• Additional Cards Annual FeeN/A
• Foreign Transaction Fee$0

The information related to Chase Sapphire Preferred® Card has been collected by Credit Card Insider and has not been reviewed or provided by the issuer or provider of this product.

Key features

• 10% annual point bonus: Get a 10% bonus on all points earned in the past year; awarded on your account anniversary.
• 25% redemption point bonus: Get 25% more value when redeeming for travel expenses through Chase Ultimate Rewards; that means each point is worth 1.25 cents. Chase may give a 25% bonus for other redemption types as well.
• Point transfer: Transfer points at a 1:1 rate to leading airline and hotel loyalty programs, like Marriott Bonvoy and United MileagePlus.
• DoorDash membership: Get a free membership (DashPass) for at least a year, which provides free delivery and reduced service fees on orders over $12.
• $60 Peloton credit: Enroll to get up to $60 back for an eligible Peloton Digital or All-Access Membership (through 2021). No fitness equipment is required.
• Shop through Chase/Chase Offers: Earn more points by shopping at participating retailers with the Shop through Chase and Chase Offers shopping portals.
• Visa Signature Concierge: Call to speak with your Visa Signature Concierge any time, day or night.
• Primary Auto Rental Collision Damage Waiver: Get primary coverage on eligible rental vehicles so you don’t have to pay for rental insurance and your premiums won’t go up after an accident.
• Travel protections: Roadside Dispatch; Trip Delay Reimbursement; Trip Cancellation / Trip Interruption Insurance; Baggage Delay Insurance; Lost Luggage Reimbursement; Travel Accident Insurance; Travel and Emergency Assistance Services
• Shopping protections: Purchase Protection; Extended Warranty Protection
• No foreign transaction fee
• Annual fee: $95

This is one of the best Visa credit cards for foodies and travel fanatics. Not only does it earn valuable UR points, which can be transferred to more than a dozen different airline and hotel partners at a 1:1 ratio, but it also comes with a slew of perks, such as primary car rental insurance and lost baggage protection.

Capital One SavorOne Cash Rewards Credit Card

• Min. credit level: Good
• Annual Fee: $0
• Purchase APR: 0% intro on purchases for 15 months, then 14.99% – 24.99% Variable
• The product details in this article were not provided or reviewed by the issuer.
• Earn a one-time $200 cash bonus after you spend $500 on purchases within the first 3 months from account opening
• Earn unlimited 3% cash back on dining, entertainment, popular streaming services and at grocery stores (excluding superstores like Walmart® and Target®), plus 1% on all other purchases. Plus, earn 8% cash back on tickets at Vivid Seats through January 2023
• No rotating categories or sign-ups needed to earn cash rewards; plus cash back won’t expire for the life of the account and there’s no limit to how much you can earn
• 0% intro APR on purchases and balance transfers for 15 months; 14.99% – 24.99% variable APR after that
• No foreign transaction fee
• No annual fee

Spending Rewards
8% cash back on tickets at Vivid Seats (through January 2023)
3% cash back for: Dining Grocery stores Streaming Services Entertainment
1% cash back on all other purchases

Introductory Bonus
$200 cash bonus for spending $500 in the first 3 months

Balance transfers

• Intro Balance Transfer APR: 0% intro on balance transfers for 15 months
• Regular Balance Transfer APR: 14.99% – 24.99% Variable
• Balance Transfer Fee: 3%
• Penalty APR: None
• Late Fee: Up to $40
• Returned Payment Fee: N/A
• Additional Cards Annual Fee: N/A
• Foreign Transaction Fee: None

The information related to Capital One SavorOne Cash Rewards Credit Card has been collected by Credit Card Insider and has not been reviewed or provided by the issuer or provider of this product.

Key features

• Annual fee: $0
• Introductory bonus: $200 cash bonus for spending $500 in the first 3 months
• Rewards: 8% cash back on tickets at Vivid Seats (through January 2023), 3% cash back on dining, entertainment, groceries, and streaming services; 1% on everything else
• No foreign transaction fees

This card is a fun choice (and a fun color!). Aimed at foodies, it earns 3% cash back on dining, entertainment, streaming services, and at grocery stores. Whereas most cards are made for either restaurants or groceries, we like that this card offers solid rewards for both. Compounded with the fact it has no annual fee and no foreign transaction fees, this is a snappy option for anyone who loves living the good life.

Best for high-end travel rewards

Chase Sapphire Reserve®

• Min. credit level: Excellent
• Annual Fee: $550
• Purchase APR: 16.99% – 23.99% Variable
• Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That’s $750 toward travel when you redeem through Chase Ultimate Rewards®
• $300 Annual Travel Credit as reimbursement for travel purchases charged to your card each account anniversary year.
• Earn 5x total points on air travel and 10x total points on hotels and car rentals when you purchase travel through Chase Ultimate Rewards® immediately after the first $300 is spent on travel purchases annually. Earn 3x points on other travel and dining & 1 point per $1 spent on all other purchases
• Get 50% more value when you redeem your points for travel through Chase Ultimate Rewards®. For example, 50,000 points are worth $750 toward travel
• With Pay Yourself Back℠, your points are worth 50% more during the current offer when you redeem them for statement credits against existing purchases in select, rotating categories
• 1:1 point transfer to leading airline and hotel loyalty programs
• Access to 1,300+ airport lounges worldwide after an easy, one-time enrollment in Priority Pass™ Select and up to $100 application fee credit for Global Entry or TSA PreCheck®
• Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more

Spending Rewards
10X Ultimate Rewards points per dollar: Chase Dining through Ultimate Rewards Hotel stays and Car rentals through Ultimate Rewards (after the full travel credit is used) Lyft rides (through 3/31/22)
5X Ultimate Rewards points per dollar on Air travel through Ultimate Rewards (after the full travel credit is used)
3X Ultimate Rewards points per dollar: Travel (after the full travel credit is used) Dining
1X Ultimate Rewards point per dollar on all other purchases

Introductory Bonus
50,000 bonus points after spending $4,000 on purchases in the first 3 months

Balance transfers

• Intro Balance Transfer APR: N/A
• Regular Balance Transfer APR: 16.99% – 23.99% Variable
• Balance Transfer Fee: Either $5 or 5% of the amount of each transfer, whichever is greater
• Penalty APR: Up to 29.99%
• Late Fee: See Terms
• Returned Payment Fee: See Terms
• Additional Cards Annual Fee: $75
• Foreign Transaction Fee: $0

The information related to Chase Sapphire Reserve® has been collected by Credit Card Insider and has not been reviewed or provided by the issuer or provider of this product.

Key features

• $300 annual travel credit: You’ll get a $300 travel credit every year that will be automatically applied to any travel-related expenses you charge to your card.
• Priority Pass Select membership: Cardholders get complimentary Priority Pass Select membership, which provides access to over 1,000 airport lounges and restaurants worldwide. You must manually activate this benefit, and you’ll receive a Priority Pass Select member card in the mail.
• Global Entry/TSA PreCheck application fee credit: Every four years you’ll get up to a $100 credit towards the application fee for either Global Entry ($100) or TSA PreCheck ($85).
• Luxury Hotel & Resort Collection: The Luxury Hotel & Resort Collection provides some complimentary services and benefits at participating hotels and resorts.
• Elite hotel benefits at Relais & Châteaux: Cardholders get accelerated progress towards Club 5C member status with Relais & Châteaux luxury hotel and resort properties; just stay two nights at qualifying properties in a 12-month period. Club 5C status provides benefits like a VIP welcome, room upgrades, access to a unique experience at each property, and invitations to exclusive events. You must book using the Visa Infinite Concierge.
• $120 Peloton credit: Enroll to get up to $120 back for an eligible Peloton Digital or All-Access Membership (through 2021). No fitness equipment is required.
• Visa Infinite Concierge: Call 1-877-660-0905 for non-emergency help of all kinds, like making dinner reservations or finding good tickets to a show. You can also ask for travel recommendations, for flights, tourist attractions, the best shopping spots, restaurants, night clubs, etc. This benefit is probably most useful when visiting a new city.
• Special car rental privileges: You can access your special car rental privileges by logging in to Chase Ultimate Rewards and following the instructions to enroll. You’ll get perks at Avis, Silvercar, and National Car Rental like rental upgrades, discounts, and occasional promotional offers.
• Lyft Pink membership: One-year exclusive saving opportunities with Lyft Pink membership, providing 15% off rides, relaxed cancellation fees, priority dispatch at airports, and more
• DoorDash membership, $60 annual DoorDash credit: Chase will pay for a DoorDash subscription for two years (a DashPass). You’ll also get $60 in DoorDash credits in 2020, and $60 in 2021 (learn more about Chase DoorDash benefits).
• Shopping protections: Purchase Protection; Extended Warranty Protection; Return Protection
• Travel protections: Primary Auto Rental Collision Damage Waiver; Roadside Assistance; Trip Cancellation/Interruption Insurance; Baggage Delay Insurance; Travel Accident Insurance; Trip Delay Reimbursement; Lost Luggage Reimbursement; Travel and Emergency Assistance; Emergency Evacuation & Transportation
• No foreign transaction fee
• Annual fee: $550

This card is one of a handful of Visa Infinite cards available to Americans — and its exclusivity shows in its rewards and perks. If you have the credit needed to qualify for this card, and travel enough to warrant its annual fee, then the Reserve is a killer choice.

Key features

• Annual fee: None
• Introductory bonus: None
• Rewards: 5X ThankYou points per dollar on air travel and dining; 3X on hotels and cruises; 1X on everything else
• Perks: $250 annual travel credit, fourth night free, Priority Pass Select membership, Global Entry or TSA PreCheck application fee credit

This high-end card is quite similar to the Reserve, albeit with a lower annual fee and smaller travel credit. Depending on your travel style, that difference might be offset by the fourth night free you’ll get when booking eligible hotel stays with the card. Capped at twice per year. All in all, the Prestige is worth a look, especially when considering it employs Mastercard’s superior exchange rate.

Wrapping Up

While the cards above are a selection of our favorite Visas and Mastercards, they’re just the tip of the iceberg. And remember: Though you’ll see some small differences when it comes to Visa vs. Mastercard, it’s fees, rewards, and responsible credit behavior that matter far more.