1. Different geographical uses: UnionPay is a Chinese card organization, while Visa and Mastercard are both American card organizations. Credit card numbers issued by different card issuing organizations are different. Credit card numbers starting with 62, 60, and 9 are issued by UnionPay, credit cards starting with 4 are issued by Visa, and credit cards starting with 5 are issued by Mastercard.

2. In terms of usage scenarios, you can only use UnionPay cards in China and go through UnionPay channels. You cannot use Visa or Mastercard cards for RMB payment, but you can repay Visa and Mastercard cards.

If the merchant has a UnionPay POS machine when swiping a card overseas, you can swipe a UnionPay card, credit the account in RMB, repay in RMB, and perform currency conversion according to the exchange rate of the card issuing bank. You can also use the Visa or Mastercard channel to swipe US dollars. Accounts are recorded in US dollars, and repayments are made in US dollars or by purchasing foreign exchange in RMB.

3. The difference in rates: There is not much difference between the rates of Visa card and Mastercard card. When using these two credit cards to swipe cards overseas, if the consumption is not in the US dollar consumption area, a currency conversion procedure will occur. Fees, and using UnionPay cards can enjoy currency conversion fee exemption.

Visa and Mastercard cards, except for high-end cards, do not have annual fees, while UnionPay cards have annual fees, but Jinpu Card can be used without annual fees. In terms of calculation of overdraft interest, currently various banks and various card types All are the same, the overdue interest is 0.5% of the daily interest rate.

4. In terms of scope of use: UnionPay dominates the domestic market. Overseas, UnionPay cards are not as popular as Visa and Mastercard. Visa is more popular in the United States and Asian countries, while Mastercard has greater influence in Europe. For some, if you are paying by card in the United States or other Asian countries, you can bring a Visa card. In Europe, it is best to bring a Mastercard credit card.

Extended information:

Notes on credit card consumption:

1. Remember to repay before the interest-free repayment period: Many consumers believe that 50 days are interest-free. During the repayment period, if the overdraft is 55 days, the bank will only need to pay interest for the excess 5 days after deducting the 50-day interest-free repayment period. In fact, if the repayment period is exceeded, the bank will calculate overdraft interest based on 55 days.

2. Pay attention to the fraction of the balance when repaying, and make full repayment. Many consumers do not pay attention to the fraction when repaying, and do not repay in full, resulting in arrears. If there are historical arrears , consumers no longer enjoy the interest-free repayment period.

3. If the cardholder cannot repay the credit card debt on time due to special reasons, he should contact the card issuing bank promptly to see if leniency can be provided to avoid the occurrence of a bad credit record.

4. If the cardholder’s current consumption finance is too large and he cannot repay in full and on time, he can apply for bill installment from the card issuing bank to ease the repayment pressure, or he can repay according to the minimum on the current bill. Repaying the balance in advance can avoid credit stains, but the cardholder will need to pay late fees and interest.

Baidu Encyclopedia-China UnionPay

Baidu Encyclopedia-UnionPay Card

Baidu Encyclopedia-VISA Card

Baidu Encyclopedia-VISA

Baidu Encyclopedia-Master Card