Mastercard or American Express?

Question

I currently have a Visa credit card but the bank which deals with my credit card sent me two offers. I am qualified to upgrade my card to either Mastercard or American Express. Which one should I chose? Should I upgrade at all?

Answer 1

I wouldn't exactly call that an upgrade -- just different brands. Perhaps the offers are for larger limits and lower interest rates.

Having 2 major credit cards will improve your credit. Read all the fine print and pick the offer you like best. When you get the new card, use it occassional and pay it in full.

Hopefully you already pay your Visa in full every month. No sense paying interest.

Answer 2

MasterCard and Visa have been strong rivals from a long time, each competing to be faster and more universal than the other. Every benefit offered on the credit card of one brand, is soon offered by the other. Today both companies provide mostly similar benefits like travel insurance, car rental insurance, product warranty extensions etc.

Answer 3

It's good news folks for all Bank of America fans. Open your arms to receive the Rewards American Express Card from Bank of America. What makes this credit card special is that it will be readily accepted across the global network of American Express . Proudly called the Bank of America - Rewards™ American Express Card, it brings together the goodness of both the Bank of America and American Express. Let us look at some of its features.

Basic features highlights

1. 0% Introductory APR (Annual Percentage Rate) on balance transfers and cash advance checks for first 12 billing cycles.
2. Low fixed interest rates after the introductory rate has expired.
3. No annual fee.
4. Option to pay over time.
5. Emergency services such as replacement of prescription, physicians, hospitals, and referrals as well as legal referral services.
6. Extended warranty protection on purchases from scheduled outlets
7. Insurances for accident, damage and rental loss, while traveling
8. Protection against damage or theft of the card
Apply online for a American express credit card at: http://www.credit-card-gallery.com/American_Express.html

Answer 4

Pick any one you want to and please pay it off :)

Even though, Credit cards is a norm in this country. Credit cards purpose is to build up your credits----blah blah blah.
I still would suggest you to avoid extra spending especially charging by credit cards as much as possible.

I am a foreigner. I have been studying in the United States over 5 years. (17-22 years old) I must say one of my biggest problem is to adjusting to how American handling their money vs my family values.

My parent have raised me to be "a debts free individual" ---No money means no spending. I almost finish my Master's and I proud to say I have no credit cards debts or any student loans. My parent allow me to handle my own money since I was 13. They taught me the best way handle money and I am now blessing because I hardly have bills to pay. My expense are rent, transportation, and foods. I am living happily without band-name clothes, car, and a big house. People with band-name clothes and nice car with huge credit debts can kiss my butts on this one :)

A year ago, I was living in a college dorm. My expense have been paid in the beginning of the semester. Fortunately, I was working two jobs and getting pay every weeks. I was so excited to check out my bank account just to see my money add up every weeks. No, it was not that much money, but it still made me happy :)

I am 22 years old with no credit cards :)

Good luck :)

Answer 5

If you are an American living in the USA, MC or Visa are equally good. If you do a lot of international travel, you might find American Express works better.

I use American Express when I travel for business because my employer requires it.

Answer 6

Pick the card that has no annual fee.