Is Barclays Visa or Mastercard?

No, you can’t use store credit cards anywhere. They only work at the merchants they’re connected with. For example, the Target Credit Card, is solely for Target purchases. It’s not always one retailer, though. If multiple brands are owned by the same parent company, you should be able to use any one of their store cards for purchases from all of the brands. For instance, you can use the store version of the … read full answerOld Navy Credit Card at Gap, Banana Republic and Athleta in addition to Old Navy. And you can use the Amazon.com Store Card at Hoot.com, Audible.com, Comixology.com along with other Amazon products and services.

What’s confusing is that some credit cards are affiliated with specific retailers but qualify as co-branded cards, not store cards. The difference is that a co-branded credit card belongs to a card network: Visa, Mastercard, American Express or Discover. And it can be used anywhere that network is accepted. So if your card doesn’t have a network logo on it, it’s a store credit card.

Here’s why you can’t use store credit cards anywhere:

• Store credit cards can only be used at the retailers they’re affiliated with, which may include more than one merchant.
• The fact that store cards have limited acceptance is part of the reason they’re easier to get, generally requiring just fair credit for approval.
• Store cards are not the same as co-branded cards. Co-branded cards are associated with a particular company or organization but also belong to one of the four major card networks. So you can use them anywhere that accepts credit cards.
• The visual difference between store cards and co-branded cards is that co-branded cards feature the logo of a credit card network (Visa, Mastercard, Amex, Discover) while store cards do not.

Many retailers actually offer two versions of their cards: one co-branded and another store-only. And there’s often just one application. The issuing bank decides which one you get, if any, based on your credit standing. You’ll generally need good credit or better to get a co-branded card. The Best Buy® Credit Card, for instance, requires good credit or better (700+), but those with at least fair credit (640+) may qualify for the Best Buy® Store Card. You can check your latest credit score for free on WalletHub.

The main differences between Visa and Mastercard are that Mastercard is more widely accepted internationally, while Visa offers more standard credit card benefits. The differences between Visa and Mastercard are minor, though, and the two card networks are the same as far as most cardholders are concerned. For example, Visa and Mastercard are both among the largest payment networks in the world, but neither Visa nor Mastercard issues any cards. They only facilitate … read full answercard transactions.

Visa and Mastercard Differences by the Numbers

Both Visa and Mastercard ensure basic benefits with their credit cards, such as zero liability guarantees and lost card reporting. Additional perks may be available, depending on the credit card tier. Mastercard offers three benefit tiers with their cards: Standard, World, and World Elite. Likewise, Visa cards are split into Traditional, Signature, and Infinite.

Visa and Mastercard Basic Benefits Compared

On top of the standard benefits, World or World Elite Mastercard holders may get extra perks such as cell phone insurance and free hotel upgrades. On the other hand, people with a Visa Signature or Infinite card may enjoy special protections like lost luggage and trip delay reimbursement. However, having a top-tier Mastercard or Visa card won’t automatically give you access to all of these extra benefits, as that depends entirely on the credit card issuer.

Whether a card bears the Visa or Mastercard logo doesn’t make much of a difference in the end. The credit card issuer determines all the most important aspects of the card: interest rates, fees, and rewards. When picking a credit card, you should pay more attention to these features than the payment network.

Major credit cards are any cards that belong to one of the big four credit card networks: Visa, Mastercard, American Express and Discover. That’s what stores mean by “we accept all major credit cards.” A major credit card will almost always show the logo of its network on the front. In some cases it’ll be on the back. If a card doesn’t have such a logo, it’s likely a … read full answerstore card that can only be used at a specific retailer.

Some major credit cards can also be considered more “major” than others, depending on the issuer. The 15 largest credit card companies account for more than 75% of all outstanding balances. So a Visa, Mastercard, American Express or Discover card from one of those companies, like Chase or Capital One, might fit the description of a major credit card best.

There are dozens of other banks and credit unions that issue credit cards, but their products are less popular. Major credit cards from the top issuers are the product of large-scale operations, after all. And they often provide perks to match, from better rates, rewards and fees to an easy-to-use website and free mobile app.

Here’s what you need to know about major credit cards:

• Major credit cards are those on the Visa, Mastercard, American Express and Discover networks.
• You can usually see the logo of your credit card network on the front of your card. Sometimes it is on the back. If there is no logo, you likely have a store card that only works at a specific retailer.
• Most U.S. merchants accept all major credit cards. But American Express lags behind the others by about 1 million locations.
• Visa and Mastercard are accepted virtually everywhere in the world. Discover cards work in 185 countries and territories. American Express cards work in 160+. Discover and Amex aren’t necessarily widely accepted in all the countries that take them, either.
• American Express and Discover issue credit cards, in addition to serving as card networks. Visa and Mastercard do not.
• Chase, Bank of America, Capital One, Citi, Wells Fargo and U.S. Bank are among the other major credit card issuers.

When picking a major credit card to use, it’s easy to narrow your search down. If you don’t plan to travel much, any network will do. But if you’re going to use your card abroad a lot, Visa and Mastercard are the safest bets.

By the way, it’s worth noting that Visa, Mastercard, American Express and Discover aren’t the world’s only major credit card networks. There’s also the likes of India’s RuPay and China’s UnionPay, for example.