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Valued Contributor
creditnocash
Posts: 2,164
Registered: ‎07-23-2012

Re: Do big banks prefer Visa over MasterCard? UPDATED

welp if it makes you guys feel better. my main bank only offers mastercard cc. its based out of ri and in new england. 

 

has visa debit cards though. 

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Valued Contributor
bs6054
Posts: 1,673
Registered: ‎11-11-2012

Re: Do big banks prefer Visa over MasterCard? UPDATED


ChesterPDexter wrote:

I haven't read the topic (and I'm not going to slog through it) but I had to say:  How could you guys possibly argue about this subject?  It seems especially dry as topics go. :smileywink:

 

Remind me not to attned the myFico holiday party.  You people might not be very fun to be around after a couple of drinks! :smileyhappy:


Well, when it started, the thread was originally entitled "Will MasterCard be obsolete soon?"  and if THAT doesn't send your pulse racing, I don't know what will.

 

And I don't know about the others, but after a few drinks, well, one really, I can get really interesting when I talk about projections of quasi-soft-pulls on FIA cards in the south-western part of the Mid West states in late Q3 2013.

Valued Contributor
navigatethis12
Posts: 1,861
Registered: ‎01-24-2012

Re: Do big banks prefer Visa over MasterCard? UPDATED

Visa interchange fees are higher, so that means more money for the bank. They are also more expensive to partner with, and many small banks or credit unions would not be able to afford the price.

Senior Contributor
Walt_K
Posts: 3,065
Registered: ‎11-02-2009

Re: Do big banks prefer Visa over MasterCard? UPDATED

This seems to move in cycles and may also be geographically based.  I remember asking a similar question a couple years ago.  Seemed like everything I was offered was a MC as my credit was improving.  I was wondering if for some reason their were lower approval standards for cards on MC's network, which made no sense.  Where I was seeing mostly MC, other posters were seeing the opposite.  I'm sure banks are constantly in negotiations with MC and Visa for specific products, service areas, etc.  I wouldn't make too much of this apparent trend.   


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Valued Contributor
SnackTrader
Posts: 1,533
Registered: ‎09-15-2012

Re: Do big banks prefer Visa over MasterCard? UPDATED


Walt_K wrote:

This seems to move in cycles and may also be geographically based.  I remember asking a similar question a couple years ago.  Seemed like everything I was offered was a MC as my credit was improving.  I was wondering if for some reason their were lower approval standards for cards on MC's network, which made no sense.  Where I was seeing mostly MC, other posters were seeing the opposite.  I'm sure banks are constantly in negotiations with MC and Visa for specific products, service areas, etc.  I wouldn't make too much of this apparent trend.   


Agree with Walt.  When the bank's contract expires with Visa/MC for debit or credit cards, they owe it to their shareholders to at least consider the options from the rivals.  Sometimes, the benefits make it worth the change.  My local bank just went through the change from Mastercard to Visa.  I'm sure regional factors are taken into account when negotiating interchange fees and such, and so therefore certain regions may have more of one type of card than the other.  And this may change over time as each payment network expands their territory or changes their business model.  But at the end of the day, what does it really matter inside the U.S.? - their acceptance is virtually interchangeable.

 

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Established Contributor
ccnewcc
Posts: 560
Registered: ‎09-29-2012

Re: Do big banks prefer Visa over MasterCard? UPDATED


CC365 wrote:

I've noticed lately that almost all of the credit cards are VISA (atleast in the US). If you look at Chase's website only a few show a MasterCard logo. The same goes for Bank of America and Citi. I know some cards like the Freedom and Slate come in both versions but they either show a VISA logo or none at all. Even debit cards are mostly VISA. Has anyone noticed this or have an explanation as to why? 

 

Edit: I've revised the title for those that need clarrification... 


I didn't read this whole thread but I have noticed this too.   More Visa than MC versions of CCs are offered =/  I much prefer MC over Visa.

 

To your point about BoA mostly offering Visa...BoA actually created Visa.  Visa was the first CC and BoA created it. 

 

IIRC, Visa started out called AmeriCard (funny since now I think that BoA has now since revived that name).  And at the time when Visa (AmeriCard) was created, there were laws on the books preventing interstate credit.  Visa (AmeriCard) was only a Califorina card.  

 

So, Visa (AmeriCard) become a co-op/leased rights and other banks joined in  and the birth of Visa happened.  BoA started Visa and other old banks joined the network.  Citi may have been in since the begining...but I can't remember.

 

Anyways my point is that BoA created Visa and so logically BoA would still primarilly be issuing Visa.

Established Contributor
djrez4
Posts: 504
Registered: ‎08-28-2012

Re: Will MasterCard be obsolete soon?


CC365 wrote:

Thank you. If I offended you, or anyone else for that matter, I also regret that. I'm currently studying law so I often assume that others already have the implicit understanding of where a topic will end up. In many ways that is why I like debating and creating a provocative topic. 


I was like you once.  You'll calm down with a few years of practice under your belt.  :smileywink:

Moderator
webhopper
Posts: 7,230
Registered: ‎09-16-2011

Re: Will MasterCard be obsolete soon?


CC365 wrote:

Shogun wrote:

Never studied law, all my debating I learned while trying to get a bigger monthly allowance from the DW.  Not working out well, I've been married 21 years and she still has all my money.  I broke the cardinal rule of marriage, "Never marry a woman smarter than you".  :smileyhappy:



Hahaha. I don't think you need debating as it seems you lost the war :smileytongue: The best thing you can do is now negotiate for table scraps (and peaceful surrender) :smileyvery-happy:


 

ROFL the philosophical question is: did he really lose? What is a loss? How does one identify with losing? Why does Shogun seem so happy to "lose" In marriage a loss = total win :smileywink:

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Established Contributor
CruzImperial
Posts: 863
Registered: ‎07-04-2012

Re: Do big banks prefer Visa over MasterCard? UPDATED

This entire thread was a good read, Lots of laughs here.

I just love the fight and apologies that follow haha

Oh btw, I have like 10 visa, 1 discover, 2 Amex and 0 mc
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