15 September 2011
Which Credit Card Is in Your Wallet?
Posted by admin under: Debt Relief Programs; Mortgage Refinancing/Assistance; No Credit Check Unemployed Personal Student Loans; No Faxing Payday Loan; Online Personal Cash Loan; Payday Loan; Same Day Cash; Unemployed No Checking Account; Unemployed No Checking Account Need Cash; cash advance; need cash .
I once heard someone say you should have a credit card from each of the major processing companies: Visa, MasterCard, American Express, and Discover. That’s definitely not the way to organize your credit card holdings.
Still, some people have their preferred credit card processor. Some prefer Visa and MasterCard because they’re more widely accepted. Others like American Express because of the prestige. Which credit card(s) do you carry?
Note that there’s a difference between the payment processing network - Visa, MasterCard - and the credit card issuer. Credit card issuers are the banks who issue the credit card, e.g. Bank of America, Capital One, etc. To make things even more confusing - Discover and American Express are both the credit card issuer and the payment processing network. This tutorial on how credit card transactions work may make it clearer.