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Visa/MC/Discover/Amex ??

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cmthomas06
Regular Contributor

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
Message 1 of 12
11 REPLIES 11
OptimasPrime
Frequent Contributor

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
Message 2 of 12
cmthomas06
Regular Contributor

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 Smiley Happy 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
Message 3 of 12
jamesdwi
Valued Contributor

Re: Visa/MC/Discover/Amex ??

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. 

 

 

Cards: Chase Southwest 20k & CSR 17k & CSP 10k & FNBO 30k Oregon Duck 5k, & AMEX BCP 32.5k & Amex Magnet 15k&amg; Hilton Surpass 7.5k & Delta Gold 12k & Zync NPSL, Fidelity AMEX 17k Commerce5.9k & Cash Forward 7.5k & Sams Club MC 20k, Paypal Extras MC 10k, Paypal Credit 7.25k CapOne Venture 15k, QS 2.5k, QS 750, Amazon 10k, Walmart 10k, Citi Simplicity 18k, Discover IT 23k and a nice stack of store cards.
Landmarkcu Personal Loan 10k
Message 4 of 12
LTomBerry
Frequent Contributor

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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Message 5 of 12
android01
Valued Contributor

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 8 - 850
TU Fico 8 - 850
EX Fico 8 - 850
Message 6 of 12
bichonmom
Senior Contributor

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!

Message 7 of 12
CreditScholar
Valued Contributor

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.
EX 798, EQ 789, TU 784
American Express Platinum (NPSL) || Bank of America Privileges with Travel Rewards Visa Signature - $23,200 CL
Barclays American Airlines Aviator Red World Elite Mastercard - $20,000 CL || Chase IHG Rewards World Mastercard - $25,000 CL
Chase Sapphire Preferred Visa Signature - $12,700 CL || Chase United MileagePlus Club World Elite MasterCard - $26,500 CL
Citibank Hilton Reserve Visa Signature - $20,000 CL || J.P. Morgan Ritz Carlton Visa Signature - $23,500 CL
Message 8 of 12
Pworld
Regular Contributor

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. 


Current EQ:809 EX: 808 TU:809


Amex Platinum/ NPSL | Amex Zync/NPSL | Amex Green/NPSL | AMEX BCP/18.1k | Chase Freedom/2.2K | Discover IT/10.9K | Amex HHonors Surpass/9K | Chase Hyatt/5k | Sapphire Preferred/13K | Ink Business Preferred/13K
Message 9 of 12
jamesdwi
Valued Contributor

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. 

 

 

Cards: Chase Southwest 20k & CSR 17k & CSP 10k & FNBO 30k Oregon Duck 5k, & AMEX BCP 32.5k & Amex Magnet 15k&amg; Hilton Surpass 7.5k & Delta Gold 12k & Zync NPSL, Fidelity AMEX 17k Commerce5.9k & Cash Forward 7.5k & Sams Club MC 20k, Paypal Extras MC 10k, Paypal Credit 7.25k CapOne Venture 15k, QS 2.5k, QS 750, Amazon 10k, Walmart 10k, Citi Simplicity 18k, Discover IT 23k and a nice stack of store cards.
Landmarkcu Personal Loan 10k
Message 10 of 12
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