topic Re: Is MasterCard becoming obsolete? in Credit Cards

Is MasterCard becoming obsolete?

WhiteCollar — Mon, 04 Nov 2013 16:22:09 GMT

I like to keep a diverse portfolio of credit cards. Last week, I had to give up my CSP WMC in order to get a EMV version. The EM version is a VISA branded card only. This prompted me to review my credit card arsenal and I noitced the majority of my cards are VISA branded with the exception of my Best Buy MC whick I only use ay Best Buy. I've been to places where they do not accept VISA so it was good to the the CSP WMC in my wallet. As I researched other prime banks, they all seem to have a VISA fetish. It appeared only Barclays, B of A, and Citi still offer a small selection of MC's.

Is MasterCard becoming obsolete?

Re: Is MasterCard becoming obsolete?

DigitalArk — Mon, 04 Nov 2013 16:27:14 GMT

USAA, NFCU, Cap1 still offer MC cards.

Re: Is MasterCard becoming obsolete?

Anf_dude — Mon, 04 Nov 2013 16:37:01 GMT

SunTrust Has A Great Selection Of MC Backed Cards. I PC'd My BofA Visa 123 To MC. Now I Don't Have Any Visa Cards But My Wells Fargo Debit.

Re: Is MasterCard becoming obsolete?

WhiteCollar — Mon, 04 Nov 2013 16:39:07 GMT

USAA and NFCU are great institutions but everyone does not qaulify for membership. I'm adding Barclay's Sallie Mae MC to my 2014 credit card wish list. I do not have any B of A cards so I'll check out what they have to offer.

Re: Is MasterCard becoming obsolete?

Anonymous — Mon, 04 Nov 2013 16:39:16 GMT

@WhiteCollar wrote:
I like to keep a diverse portfolio of credit cards. Last week, I had to give up my CSP WMC in order to get a EMV version. The EM version is a VISA branded card only. This prompted me to review my credit card arsenal and I noitced the majority of my cards are VISA branded with the exception of my Best Buy MC whick I only use ay Best Buy. I've been to places where they do not accept VISA so it was good to the the CSP WMC in my wallet. As I researched other prime banks, they all seem to have a VISA fetish. It appeared only Barclays, B of A, and Citi still offer a small selection of MC's.

Is MasterCard becoming obsolete?

I don't believe it is becoming obsolete, although I too have noticed more Visas amongst my cards. I even have more American Express cards than I do Mastercards. I chose to forego the EMV in my CSP so I could keep it a MC because it serves an important purpose in my wallet. Lastly, when traveling abroad I prefer to have a Mastercard with me, even though I tend to carry a Visa & American Express as well.

Re: Is MasterCard becoming obsolete?

coldnmn — Mon, 04 Nov 2013 16:42:16 GMT

Barclay Ring is nice to have in the wallet if you have to carry a balance a short time. They also offer a free TU 08 credit score.

Re: Is MasterCard becoming obsolete?

WhiteCollar — Mon, 04 Nov 2013 16:44:14 GMT

@Radek7752 Won't you have to eventually convert to the EMV VISA version of the CSP? I was told I could wait but I would eventually get a new card because Chase all CSP's will be VISA branded going forward.

Re: Is MasterCard becoming obsolete?

rlx01 — Mon, 04 Nov 2013 17:23:41 GMT

Citibank and Barclay issue more MasterCards than anything else.

Re: Is MasterCard becoming obsolete?

WhiteCollar — Mon, 04 Nov 2013 17:28:30 GMT

I checked Citi's website and the majority is VISA. However, I was told you can request some credit card products in a MC version.

Re: Is MasterCard becoming obsolete?

Anonymous — Mon, 04 Nov 2013 18:25:10 GMT

@WhiteCollar wrote:
@Anonymous Won't you have to eventually convert to the EMV VISA version of the CSP? I was told I could wait but I would eventually get a new card because Chase all CSP's will be VISA branded going forward.

Chase may very well choose to convert the cards at their own convenience, but from what I have read so far, it's all speculation as to when that will actually happen. I'm in no rush to convert since my other Mastercard (Simplicity) is not a suitable wallet card. It's best used for balance transfers and large expenses to be paid over time.

Re: Is MasterCard becoming obsolete?

Anonymous — Mon, 04 Nov 2013 18:53:19 GMT

I only have one MC -- my old Cap1 "platinum" card from my rebuilding days that I keep in the sock drawer for AAoA purposes. I haven't seen any decent products out there using MC these days.

Re: Is MasterCard becoming obsolete?

thelethargicage — Mon, 04 Nov 2013 20:03:55 GMT

I've noticed that MCs offering competitive rewards are few and far between. Only the Sallie Mae and Arrival cards as well as the QuicksilverOne come to mind.

On an unrelated note, whenever I see the MC logo, I think of my mom.

Re: Is MasterCard becoming obsolete?

WhiteCollar — Mon, 04 Nov 2013 20:26:03 GMT

I'm anti CrapOne so they'll never have a space in my wallet.

Re: Is MasterCard becoming obsolete?

mikka1 — Mon, 04 Nov 2013 20:27:17 GMT

My thoughts exactly a month ago. I ran into Expedia promotion (book hotel in FL, SC, GA and NC for at least two nights with your Mastercard and get $100 gift card) and sadly realized that out of 8 cards in my wallet two are Amex Cards and 6 are Visa cards. Not a single MC :-(

... Luckily my wife had one MC in her wallet (from Citi), but the trend seems to be really visible...

Re: Is MasterCard becoming obsolete?

SunriseEarth — Mon, 04 Nov 2013 20:57:31 GMT

I can't honestly think of a time where I've been somewhere that accepted VISA but not Mastercard, or vice-versa (but I've seen plenty that don't accept AMEX or Discover). So I think due to the redundancy, most people just go with one or the other.

Re: Is MasterCard becoming obsolete?

MoreRewards — Mon, 04 Nov 2013 21:08:42 GMT

My Dr Clinic ONLY accepts MC no VI. I'm sure there are still other small exceptions out there too. My vet takes both VI & MC but a friends vet only accepts VI.

I'm not sure that it's obsolete. Though I've noticed VI a lot more popular with many of the banks. Some of their products used to be MC but some you can still request as such.

I actually have 4 MC 1 from my bank 1 from citi 1 from cap1 & 1 from Barclays
I've got 2 VI from Chase, 1 Amex from FNBO & a Discover It plus a Wal Mart Discover

Re: Is MasterCard becoming obsolete?

Anonymous — Mon, 04 Nov 2013 21:16:25 GMT

I believe whatever fees Visa charges on a per transaction basis are less than MC. Still I've rarely been to a place that accepts only Visa.

Re: Is MasterCard becoming obsolete?

rlx01 — Mon, 04 Nov 2013 22:09:32 GMT

@WhiteCollar wrote:
I checked Citi's website and the majority is VISA. However, I was told you can request some credit card products in a MC version.

I just counted 11 MC, 9 V and 1 AMEX. So... that's not really true.

Also, their high status cards (AA Exec and Prestige) are both MC.

Most of the application screens have a MC or V picker.

The reason we're seeing more Visa is because the banks take a bigger cut of the transaction on a Visa Sig (compared to a MC or WMC, around the same on a WEMC). Merchants actually pay more when you use your Visa Sig compared to a non-Sig (something like .1-.2% more -- that's how all the benefits and miles/points are funded .

Re: Is MasterCard becoming obsolete?

Anonymous — Tue, 05 Nov 2013 02:05:57 GMT

Sam's Club and Costco don't take Visa cc's. You'll need a MasterCard [edit: or Discover] and an AMEX respectively.

Re: Is MasterCard becoming obsolete?

SunriseEarth — Mon, 04 Nov 2013 22:35:43 GMT

@Anonymous wrote:
Sam's Club and Costco doesn't take Visa cc's. You'll need a MasterCard and an AMEX respectively. I'd say Discover is pretty irrelevant tho.

I wasn't aware of that with Sam's Club. I'd have figured they'd take Discover, due to the Sam's Club (and Walmart) Discover. I know quite some time back, they only accepted debit cards