Many card friends are often confused between UnionPay, VISA and MasterCard and do not understand their respective functions. Next, the card sister will introduce them one by one to help you make a better choice. A credit card that’s right for you.

Let’s introduce these three separately

1. UnionPay card

The cards we generally apply for are UnionPay cards, with “UnionPay” on the card. means that your card can be used to withdraw money from ATM machines 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 it this way. UnionPay cards are not all credit cards, but credit cards are basically UnionPay. Many friends who have gone abroad must have seen the "UnionPay" payment logo in many countries and regions, and have to feel proud of our country's strong economic strength and the increasing international influence of the RMB~

2. VISA

VISA is a credit card brand, just like China's UnionPay. VISA International is currently the largest international credit card organization in the world and is relatively popular in the United States and Asian countries.

3. MasterCard

MasterCard, the world’s second largest international credit card organization, is issued by members of financial institutions participating in MasterCard International. Its influence in Europe is Bigger.

Differences between the three:

1. From a geographical point of view, UnionPay is a card organization in China, while VISA and MasterCard are both card organizations in the United States.

2. There is a handling fee for card swiping. UnionPay cards are free of charge for overseas card swiping, while Visa and Mastercard require "international credit card foreign exchange handling fees" when it comes to settlements between multiple currencies. In terms of cash withdrawal fees, UnionPay cards have lower prices for overseas withdrawals, and the same fee is 1. Card sister reminds me that when spending overseas, if you go to a non-US dollar area, you can try to use local currency for settlement, and then exchange RMB for local currency for repayment after returning home. If you use U.S. dollars for settlement, you will need to pay dual currency conversion fees for converting the local currency into U.S. dollars and converting RMB into U.S. dollars. You see, how to save money.

3. Scope of use: If you only need domestic consumption, UnionPay card is the first choice. However, if you often go abroad for business or tourism, it is still necessary to apply for a VISA or MasterCard.

The card sister summarizes the key points. If you are staying at home, choose UnionPay. If you occasionally go abroad for fun, you can apply for VISA and MasterCard. If you want half and half, choose UnionPay, VISA or UnionPay MasterCard.