Many people like specific credit card companies or card networks for one reason or another. Customer service is important to some. Others prioritize the various benefits that card networks provide. But none of that matters as much as a given card’s terms. In other words, if you get the best combination of rewards, interest rates and fees for your needs, it doesn’t really matter who issues the card or what network it’s on.
That said, there are a couple of cases in which a card’s network or issuer really is important. For starters, you should make sure to get a no foreign transaction fee credit card on either the Visa or MasterCard network if you plan to travel abroad or buy things from internationally-based merchants. Visa and MasterCard are much more widely accepted abroad than Discover and American Express. And using plastic will help you save on currency conversion.
In addition, your credit card options will be somewhat limited if you have less-than-good credit and are not a college student. Not all credit card companies offer cards to such individuals. Capital One and USAA are two of the only major issuers with cards for people across the creditworthiness spectrum.
To learn more about the reputations of major credit card companies, check out WalletHub’s latest Credit Card Customer Satisfaction Study.
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