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Regular Contributor
cmthomas06
Posts: 174
Registered: ‎06-21-2012

Visa/MC/Discover/Amex ??

I have been wondering about this for a while now and have read threads concerning Visa or MC versions of cards. I was wondering why people like to have 1 of each?... is it simply for acceptability purposes (if a merchant only accepts 1 or the other). Or does it go further and have some effect on the CR? I have one MC, Disc, Amex; however, most of my cards are visa. Should I be trying to get more MC? 

 

*I appologize if this may seem stupid, but Im just curious*

Ex 752 (Amex) Tu 758 (Walmart) Eq 703
Goal: 750+ on all
Current Cards: Cap1 Cash Back; Chase Freedom; Chase Amazon; Citi Thank You; Citi Forward; Discover iT; Amex Zync; GE WalMart; BoA 3-2-1
Frequent Contributor
OptimasPrime
Posts: 348
Registered: ‎08-17-2012

Re: Visa/MC/Discover/Amex ??


cmthomas06 wrote:

I have been wondering about this for a while now and have read threads concerning Visa or MC versions of cards. I was wondering why people like to have 1 of each?... is it simply for acceptability purposes (if a merchant only accepts 1 or the other). Or does it go further and have some effect on the CR? I have one MC, Disc, Amex; however, most of my cards are visa. Should I be trying to get more MC? 

 

*I appologize if this may seem stupid, but Im just curious*


This. Bank issued cards do not show up as visa or MC on your credit reports, all that is noted is the financial institution that issued the card to you, not the payment network. Note that amex and discover are a bit different since they are card issuers who have their own payment processing networks.

EQ 778 | TU 776
Barclay US Airways WMC 7.5k | BCE 5.8k | BofA Travel Rewards 9.1k | Chase Marriott Premier 13k | Citi TYP WMC 6.5k | Freedom Visa Sig 8k| Discover it 10k
Regular Contributor
cmthomas06
Posts: 174
Registered: ‎06-21-2012

Re: Visa/MC/Discover/Amex ??


OptimasPrime wrote:

cmthomas06 wrote:

I have been wondering about this for a while now and have read threads concerning Visa or MC versions of cards. I was wondering why people like to have 1 of each?... is it simply for acceptability purposes (if a merchant only accepts 1 or the other). Or does it go further and have some effect on the CR? I have one MC, Disc, Amex; however, most of my cards are visa. Should I be trying to get more MC? 

 

*I appologize if this may seem stupid, but Im just curious*


This. Bank issued cards do not show up as visa or MC on your credit reports, all that is noted is the financial institution that issued the card to you, not the payment network. Note that amex and discover are a bit different since they are card issuers who have their own payment processing networks.


Thats what I thought. Just wanted to make sure I wasnt missing anything/unaware :smileyhappy: thanks!

Ex 752 (Amex) Tu 758 (Walmart) Eq 703
Goal: 750+ on all
Current Cards: Cap1 Cash Back; Chase Freedom; Chase Amazon; Citi Thank You; Citi Forward; Discover iT; Amex Zync; GE WalMart; BoA 3-2-1
Valued Contributor
jamesdwi
Posts: 1,390
Registered: ‎09-16-2011

Re: Visa/MC/Discover/Amex ??

[ Edited ]

Most people want at least one each of VISA and MC there are places that don't take one or the other, Sams Club doesn't take VISA, but does take MC,  Amex is wanted for the prestige and a true oddity of having a place so upscale that it would only take AMEX perhaps places like that still exist but I doubt it, neiman marcus accepts all now I believe. If you have 3 might as well add Discover and round out the group and for good rewards program. 

 

 


Wallet: FNBO DISC 11.9k Oregon Duck 5k, Chase CSP 10k, Freedom 3.3k & AMTRAK 4.6k & Slate 3.3k , AMEX BCP 15k & AMEX Hilton Surpass 7.5k & AMEX Zync NPSL, Walmart 4.5k
Sockdrawer: Paypal Extras MC 6k, CapOne 2k, CapOne 750, Amazon 3.9k, Sams Club Discover 10k, Citi HHonors Gold 6k, Discover IT 6.5k and a nice stack of store cards.
Last APP 12/21//2013 no plans for new credit I think I have enough.
Frequent Contributor
LTomBerry
Posts: 393
Registered: ‎08-02-2011

Re: Visa/MC/Discover/Amex ??


jamesdwi wrote:

Most people want at least one each of VISA and MC there are places that don't take one or the other, Sams Club doesn't take VISA, but does take MC,  Amex is wanted for the prestige and a true oddity of having a place so upscale that it would only take AMEX perhaps places like that still exist but I doubt it, neiman marcus accepts all now I believe. If you have 3 might as well add Discover and round out the group and for good rewards program. 

 

 


Been to Costco lately?

 


Starting Score: 690
Current Score: EQ 780 EX 814 TU 783
Goal Score: 800

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Valued Contributor
android01
Posts: 1,186
Registered: ‎09-22-2009

Re: Visa/MC/Discover/Amex ??


jamesdwi wrote:

Most people want at least one each of VISA and MC there are places that don't take one or the other, Sams Club doesn't take VISA, but does take MC,  Amex is wanted for the prestige and a true oddity of having a place so upscale that it would only take AMEX perhaps places like that still exist but I doubt it, neiman marcus accepts all now I believe. If you have 3 might as well add Discover and round out the group and for good rewards program. 

 

 


Costco takes only AMEX cards and cash only I believe.  Not terribly upscale!  

EQ FICO - Beacon 5.0 - 806 - 3/29/14
TU FICO - TU98 - 802 -3/29/14
TU FICO - TU08 - 850 - 4/4/14
EX FICO - Fair Isaac v2 - 811 - 4/14/14
EX FICO - EX08 - 850 - 3/29/14
Senior Contributor
bichonmom
Posts: 3,300
Registered: ‎05-05-2011

Re: Visa/MC/Discover/Amex ??

I just like having the variety. Also, while it's rare, I have had a MC denied because (I was told) the MC network was down. So, it's a good idea to have both MC and Visa, in addition to Amex.  I can't think of any place that only takes Discover, so I think that's primarily for variety and rewards.

 

 

~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*
EQ FICO 750 | TU FICO 761 (Walmart) | EX FAKO 767 | Goal: 800+

Edits, funky spacing and spelling due to my iPad not getting along with the forum editor!

Valued Contributor
CreditScholar
Posts: 2,277
Registered: ‎01-22-2012

Re: Visa/MC/Discover/Amex ??

Neiman Marcus used to only accept Amex, but even they've had to change their policy. I think Costco is the only place left.
FICOs: EX: 826, EQ: 817, TU: 810
Bank of America Privileges with Travel Rewards Visa Signature - $23,200 CL
Chase Sapphire Preferred Visa Signature - $12,700 CL
Chase United MileagePlus Club World Elite MasterCard - $26,500 CL
Citibank American Airlines Executive World Elite MasterCard - $22,500 CL
J.P. Morgan Ritz Carlton Visa Signature - $23,500 CL
Contributor
Pworld
Posts: 112
Registered: ‎12-29-2008

Re: Visa/MC/Discover/Amex ??

balance the credit card portfolio. I have Amex/Discover/Visa. Only reason i got the Visa was to be covered if Disc and Amex was not accepted. Luckily the Visa is a Freedom, so it gets used more often than planned. But to me Discover and Amex have better card benefits, and customer service. 

2/2011=EQ: 590
11/2012=EQ: 683 (after 4 card app spree and reporting)
10/2013=EQ: 708 (reached my goal!! for 2013) EX(amex): 668 TU(Disc):680
Goal = 725 by 6/2014
Amex Zync/NPSL | Amex Green/NPSL | AMEX BCP/15k | Chase Freedom/2.2K | Best Buy/800 | Discover IT/6.4K | Citi HHonors Reserve/3K | Chase Hyatt/5k | Sapphire Preffered/5K
Valued Contributor
jamesdwi
Posts: 1,390
Registered: ‎09-16-2011

Re: Visa/MC/Discover/Amex ??


android01 wrote:

jamesdwi wrote:

Most people want at least one each of VISA and MC there are places that don't take one or the other, Sams Club doesn't take VISA, but does take MC,  Amex is wanted for the prestige and a true oddity of having a place so upscale that it would only take AMEX perhaps places like that still exist but I doubt it, neiman marcus accepts all now I believe. If you have 3 might as well add Discover and round out the group and for good rewards program. 

 

 


Costco takes only AMEX cards and cash only I believe.  Not terribly upscale!  


okay I forgot about costco, since i'm not a member... everyone used to talk about neiman marcus for only taking amex. 

 

 


Wallet: FNBO DISC 11.9k Oregon Duck 5k, Chase CSP 10k, Freedom 3.3k & AMTRAK 4.6k & Slate 3.3k , AMEX BCP 15k & AMEX Hilton Surpass 7.5k & AMEX Zync NPSL, Walmart 4.5k
Sockdrawer: Paypal Extras MC 6k, CapOne 2k, CapOne 750, Amazon 3.9k, Sams Club Discover 10k, Citi HHonors Gold 6k, Discover IT 6.5k and a nice stack of store cards.
Last APP 12/21//2013 no plans for new credit I think I have enough.

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