Visa Vs MasterCard – Which Is The Best?

Summary:
The two leading credit card companies in the world today are the competitors Visa and MasterCard. They both operate along very similar lines.

Article Body:
The two leading credit card companies in the world today are the competitors Visa and MasterCard. They both operate along very similar lines. While Visa can claim to have almost a billion cards issued, MasterCard has over twenty five thousand banks issuing its cards and it is difficult to find any difference in the number of locations worldwide that accept the cards, which is now estimated at over twenty million.

In fact, as far as most consumers are concerned, there is no real difference between the two. They are both very widely accepted in over one hundred and fifty countries and it is very rare to find a location that will accept one but not the other.

However, neither Visa nor MasterCard actually issue any credit cards themselves. They are both simply methods of payment. They rely on banks in various countries to issue credit cards that utilise these payment methods. Therefore, the interest rates, rewards, annual fees, and all other charges are issued by your bank and when you pay your bill you are paying it to the bank or institution that issued your card and not Visa or MasterCard.

How Visa and MasterCard make their money is by charging the retailer for using their payment method. So the truth of the matter is that a Visa issued by say the Bank of Scotland will have very little to do with a Visa issued by other banks and may in fact by more similar to the Bank of Scotland’s MasterCard.

What this means for the vast majority of customers is that you do not have to overly concern yourself with whether a credit card is MasterCard or Visa. You would be better off concentrating on the interest and other charges on the card, the balance transfer possibilities or their reward scheme. You are very unlikely to ever be effected by the fact that it is one and not the other.

If you prefer, if you are going to have two credit cards, you may decide that you want one of them to be Visa and the other MasterCard, this means that if something drastic were to happen to one company, or if you were in the unlikely position of finding a location that accepts one but not the other, then you would have the option of paying with either.

At the end of the day however, much more depends on the bank that gave you the card, than on the type of card it is.

Visa Card - Things You Should Consider First Before You Apply.

Summary:
If you are interested in applying for a Visa credit card, there are a lot of things you should consider first because there are so many types of cards. For instance, consider whether you fly frequently and would like a card that earns you frequent flyer miles, or if you need a card with a very low interest rate because you plan on keeping a balance, or if you are in need of a visa credit card for your business, child, or if you have bad credit. These are all things to conside...

Article Body:
If you are interested in applying for a Visa credit card, there are a lot of things you should consider first because there are so many types of cards. For instance, consider whether you fly frequently and would like a card that earns you frequent flyer miles, or if you need a card with a very low interest rate because you plan on keeping a balance, or if you are in need of a visa credit card for your business, child, or if you have bad credit. These are all things to consider first, because you don’t want to apply for credit card after credit card. It is better to decide what is best for you, and then begin applying.

Also, some very important things to evaluate on each card you are considering is introductory APR, introductory APR period, regular APR, annual fee, balance transfer and the type of credit needed for the card.

For instance, many credit cards provide an introductory APR to make the card more appealing and make you want to switch or apply for that particular card. IN some cases, visa credit cards will offer 0% interest for a year or six months, depending on the card. While the introductory APR can be a good thing because interest fees charged are either nothing or considerably lower than other cards, you need to keep in mind how long the introductory APR period lasts and what the APR is regularly.

If the introductory APR period lasts for six months to a year then that is a good period of time in which you can use the credit card to your advantage. However, you should keep in mind the date when the regular APR starts so you do not find yourself with high levels of interest rates and a large balance.

The regular APR for a visa credit card can vary significantly depending on the type of card and the individual’s credit. Everyone wants a credit card with a low regular APR, but the truth is there are not that many credit cards with really low APRs. This is because credit card companies make a lot of money on charging interest from month to month.

Also, you should only apply for Visa credit cards with no annual fee. This is because there are many credit cards that offer the card with no fee, so there is no need for you to pay $50 or more per year simply to carry the card. Make sure the visa credit card you are applying for does not charge an annual fee.

Check and see if the visa card you are applying for accepts balance transfers from other credit cards. If the new visa card you are applying for has a low introductory APR then when you are approved you will want to transfer your balances from high APR cards in order to pay it off more economically.

Finally, check the type of credit needed for the visa card you are interested in. If the card information says you need excellent credit and you have poor credit, do not even waste your time and the affects on your credit report by applying for that card.

Savings Accounts – An Overview

Summary:
Being in control of your finances means not only managing your current account wisely, but planning ahead too. Although we are used to thinking we will have the welfare state to fall back on, the support offered by state benefits is far from generous.

Article Body:
Being in control of your finances means not only managing your current account wisely, but planning ahead too. Although we are used to thinking we will have the welfare state to fall back on, the support offered by state benefits is far from generous - most people would struggle to exist on a basic pension alone.

Furthermore, our ageing population face an uncertain future as demographics change – by the time today’s thirty-year olds reach retirement there’s no telling how the economic situation will look. Aside from planning your retirement, you ought to have something to fall back on in case there’s a sudden change in your circumstances – how would you manage if illness or redundancy curtailed your earnings?

Although these issues are serious ones, there are many ways to ensure that you and your family will be well provided for and finding them need not be a nightmare. Start today by considering how much you can afford to put by. Be realistic, but try to allocate a fair proportion of your budget – aim to save at least 10% of your monthly income if you can. Secondly, look at your options – this guide provides a general view of some of the more common ways to save and resources for finding more information.

How you choose to save will depend on your age, circumstances and the amount you want to invest – but remember it’s never too late to start, and never too early to plan for your future. Even if you can only afford to put a small amount away every month, it could make a huge difference in the long run.

There are vast amounts of different ways to save and invest, and there are also tax benefits to take into account. In an effort to urge people to save, the government offer various incentives – such as tax-free savings plans and children’s savings accounts.

Savings accounts often attract higher interest rates than current accounts, so you could be earning money daily without expending any effort. For those willing to diversify, there are offshore accounts and investments to consider - these are explored in more detail below.

Considering your family’s financial security is often a high priority – check out the sections on children’s accounts for ideas. The last section offers ways to find more information, with listings of bodies that may be able to help you.

Finally, enjoy the feeling of taking responsibility for your own future!