Credit cards, I believe many readers and friends have come into contact with them, but from a professional point of view, I believe few people can understand the differences and relationships among UnionPay cards, VISA and MasterCard, and don't understand their respective uses. Today, Xiaobian will give you a detailed introduction, which will help you better choose the credit card that suits you.

First, introduce their three characteristics separately:

1. UnionPay cards

All the cards we usually handle are UnionPay cards, and the words "UnionPay" will be written on the card face, that is, your card can withdraw money from ATMs of different banks. UnionPay is a bank card issuer in China and can only pay in RMB. UnionPay not only issues debit cards but also credit cards. You can understand that UnionPay cards are not necessarily credit cards, but credit cards are basically UnionPay cards. I believe that some friends should have seen the logo of "UnionPay" payment in many countries and regions. Yes, you are right. Many powerful banks have stepped out of China and entered the world. Therefore, we can also use UnionPay cards in many places abroad. Of course, there may be an exchange rate problem in different countries and regions, which can be used in banks to convert local currencies, so I won't introduce it too much.

2.MasterCard

MasterCard, whose name is MasterCard in China, is the second largest international credit card organization in the world. It is issued by members of financial institutions participating in mastercard international, and its popularity in Europe is relatively greater.

3.VISA

VISA is a credit card brand, just like UnionPay in China. VISA International is the largest international credit card organization in the world at present, and it is popular in America, Asian countries and other countries.

What are the differences among the three types of cards?

1. Geographically, UnionPay is a card organization in China, and both VISA and MasterCard are international card organizations.

2. As far as the charge for card swiping is concerned, UnionPay cards are also free of charge for overseas card swiping, while Visa and mastercard need "international credit card foreign exchange charge" when it comes to settlement between multiple currencies. For the cash withdrawal fee, the overseas withdrawal price of UnionPay cards is lower, and the same 1% fee is charged.

In addition, I have to say that when you are in consumption abroad, if you go to a non-US dollar area, you can try your best to settle your accounts in local currency, and then you can exchange RMB for local currency after you return home. If you use US dollars for settlement, you need to charge a double currency exchange fee for local currency to US dollars and RMB to US dollars. so, in order to save money, you know.

3. Scope of use: UnionPay card is the first choice if it is only for domestic consumption and life, but it is necessary to get a VISA or MasterCard if you travel abroad for business or tourism frequently.

In a word, the main difference between these three types of cards is the different scope of use. Of course, in China, in order to meet the needs of more cardholders, banks usually combine them into card issuance forms. Of course, there are also separate UnionPay credit cards, UnionPay +visa cards, or UnionPay+MasterCard cards. So far, there is no visa+ MasterCard card. I hope all card friends can understand it.