MASTER CARDS

Like Visa, MasterCard credit cards have grown to become a driving force at the heart of global commercial transactions and have contributed to making international commerce much faster, convenient, and secure. MasterCard today is accepted in more than 210 countries. The company provides the speedy and reliable electronic processing network that has made it easier and faster than ever before to make a payment, no matter where in the world you are. Mastercard credit cards are popular with consumers because they have the global reach to fit today’s global lifestyle, wherever you may be traveling.

MasterCard Worldwide does not itself issue credit cards or make credit card offers, but rather is a franchisor of MasterCard credit cards and other products and services. It acts as a link between the more than 25,000 financial institutions that are part of its network and the businesses and cardholders these institutions issue credit cards to. Each individual bank or financial institution makes its own decision about how to structure the credit card deals they offer, including setting the APRs, annual fees, and other terms. Because of this flexibility, when you compare MasterCards, you will notice that MasterCards have many different interest rates, and even the same card may have different APRs for purchases, cash advances, balance transfers, and so on.

MasterCard branded cards are offered by financial institutions, banks, brand names, airlines, hotels, universities, charitable organizations and other types of institutions.

MasterCard benefits includes zero liability: unauthorized purchases are not your responsibility, Rent and Repair MasterRental Insurance, extended warranty coverage, purchase assurance coverage, baggage delay coverage, lost or damage luggage coverage, road assist service and numerous other benefits.

Together with its counterpart, Visa, MasterCard has been instrumental in spear-heading the credit card revolution that has unfolded in less than 50 years. The company was founded in 1966 as the Interbank Card Association (ICA), and over the years developed into MasterCard Worldwide, a large, publicly traded company.

MasterCard International is a leading global payments solutions company that provides a broad variety of innovative financial services in many countries worldwide. MasterCard does not issue cards, set annual fees on cards, determine annual percentage rates, solicit merchants to accept cards or set their discount rates. Instead, MasterCard's customer financial institutions manage the relationships with consumers and merchants. Because it is used by banks around the globe MasterCard is one of the most widely recognized credit and debit card brands in the world

credit cards

Today, credit cards are more popular as a mode of payment than ever before. In fact, the rewards programs offered by many cards have become a great way to make your credit work for you. If you have begun the process of searching for the right credit card, let these important tips be your guide in determining which credit card is right for you.

Different Types of Credit Card Interest Rates
First, pay close attention to a card's interest rates. Many credit cards advertise attractive introductory rates for periods that range from three to 12 months. If you have excellent credit, look for a zero percent introductory rate. If you have been planning on making a large purchase, such an offer can lead to enormous financial benefits. Whether it is a new computer, travel to a family reunion, or car repairs that can't wait any longer, a card with zero percent interest is the smartest way to make those purchases. If you can pay down the entire balance before the introductory period expires, you'll be using your credit wisely. Some creditors also offer excellent balance transfer rates that will allow you to save money by transferring high interest balances to your new card.

Besides the introductory rate, always determine the ongoing interest rate of any introductory offer advertised. Introductory offers with low or no interest are great ways to save some money; however, unless the ongoing rate is low as well, you'll spend more money in the long run.

Annual Fee
Additionally, you'll want to know whether the card you're applying for carries an annual fee. If you have good credit, you should be able to qualify for a card without such a fee. Read all terms and conditions closely before you complete your application.

Types of Rewards and Incentives
As an added incentive, many credit card companies now offer programs where you can earn rewards when using their card. These rewards may include airline miles, cash back, as well as point systems where you earn points that can be redeemed for popular merchandise. Reward points are subject to the card issuer's stipulations, so check beforehand to see how you are allowed to spend your points, as well as how they are accumulated. Similarly, if you choose a card that helps you rack up airline miles, check to see how those miles can be redeemed (some cards may restrict the use of miles on blackout dates, companion tickets, etc.).

Cash back benefits may vary depending on what you purchase. Some cards offer higher rates for everyday purchases like gas, groceries, and drugstore items. Others offer a flat percentage rate that does not change. Choose what works best for you, according to what you buy.

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A credit card is a system of payment named after the small palstic card issued to users of the system. A credit card is different to a debit vards in that it does not remove money from the user's account after every transaction. In the case of credit cards, the issuer lends money to the consumer (or the user) to be paid to the merchant. It is also different from a charge cardsto be paid in full each month. In contrast, a credit card allows the consumer to 'revolve' their balance, at the cost of having interest charged. Most credit cards are the same shape and size, as specified by the ISO 7810 standard. The most common credit card size, known as ID-1, is 85.60 × 53.98 mm

On November 8, 2004, MasterCard and Diner's Club formed an alliance. Cards issued in Canada and the USA start with 55 and are treated as MasterCards worldwide. International cards use the 36 prefix and are treated as MasterCards in Canada and the US, but are treated as Diner's Club cards elsewhere. Diner's Club International's website makes no reference to old 38 prefix numbers, and they can be presumed reissued under the 55 or 36 BIN prefix.
Effective October 1, 2006, Discover will now be using the entire 65 prefix, not just 650. Also, similar to the MasterCard/Diner's agreement, China Union Pay cards are now treated as Discover cards and accepted on the Discover network.
A search on VISA's website results in many references to card numbers being 16 digits long. However, searching for references to 13-digit cards will turn up no results. It might be presumed that 13-digit cards no longer exist and have been reissued as 16-digit cards, however old accounts may still use these numbers.
Switch will continue to exist until mid 2007, after that it will branded as Maestro. Maestro is now VISA Electron's main competitor in the European debit card market