How to choose between UnionPay, VISA, and MasterCard for credit cards?
Regarding this issue, we must first introduce the six major international credit card organizations.
China UnionPay is a joint-stock financial services institution approved by the People's Bank of China and co-sponsored by more than 80 domestic financial institutions, with a registered capital of 1.65 billion yuan. The company was established on March 26, 2002 and is headquartered in Shanghai.
The card BIN number starting with “62” belongs to China UnionPay.
Visa is a global payment technology company that operates the world's largest retail electronic payment network, connecting consumers, businesses, financial institutions and governments in more than 200 countries and regions around the world, making it more convenient for people to use. Digital currency, in lieu of cash or checks.
VISA is the world's largest card organization and the credit card organization with the highest market share in the world. The BIN number starting with "4" belongs to the VISA card organization
MasterCard is the world's second largest credit card international organizations. MasterCard International owns MasterCard, Maestro, Mondex, Cirrus and other brand trademarks.
Most BIN numbers starting with “5” belong to MasterCard.
Since the first American Express card was issued in 1958, American Express has so far issued American Express cards in 49 currencies in 68 countries and regions, building the world's largest self-contained special merchant network. And has more than 60 million high-quality cardholders
The often-known "Black Gold Card" and "Centurion Card" belong to American Express. The BIN number starting with "3" and 15 The position belongs to American Express.
The world's first credit card was Diners Club. The BIN number starting with "3" and 14 digits belongs to the Diners Club organization
The types of JCB credit cards have become the largest in the world, reaching More than 5,000 species. JCB's international strategy mainly targets Japanese industrialists and women who work and live abroad. BIN numbers starting with "3" and 16 digits belong to the JCB card organization.
Except China UnionPay and Japan’s JCB, the other four are all from the United States.
When choosing a card from a card organization, you need to consider the differences between each card organization and your actual needs
All cards starting with UnionPay 62 have now issued chip cards, and other card organizations basically still have Magnetic stripe card.
The security factor of chip cards is the highest. So far, no forgery or theft of chip cards has been found in China. Incidents of counterfeit magnetic stripe cards being used occur every day.
If you use UnionPay cards in China, you can enjoy the latest new activities released by UnionPay. For example: Small amounts are free of charge, and you can enjoy a handling fee discount of 0.38 seconds. With QuickPass, you can enjoy 1 penny for taking the bus, 50% off for taking the subway, etc. On June 2 every year, with UnionPay cards starting with 62, you can enjoy 32% off, etc. When using UnionPay cards overseas, there will also be cash rebates.
UnionPay’s acceptance has certain limitations in some overseas areas. VISA and MasterCard are more widely used around the world and are more convenient to use.
When applying for a credit card, try to choose a UnionPay card with 1-2 VISA or MasterCard cards.
Remember, don’t blindly listen to casual recommendations from account managers.
If you don’t understand the difference between card organizations, when purchasing a credit card, let your account manager help you choose a card. Generally, the account manager will directly help you choose a set of cards, usually two cards (one for UnionPay and one for UnionPay). VISA (one card)
Generally, a set of cards (2 cards) allows all accounts in all currencies in the world to be opened. Then, when it comes to the credit report, the bank's credit card information is usually not enough to display on one page. Even if the card is canceled later, all currency information will still be there. This is a pitfall that needs attention.
If you have a situation or can appear on camera, you can apply for a VISA or MasterCard. At the same time, if possible, try to use the card for consumption abroad. Because in a sense, it is also a proof of identity or financial resources.
It is very helpful to increase the credit card limit.
What are the types of international credit cards? How to choose the card type?
The application method for international credit cards is the same as applying for credit cards from various banks. There is not much difference. However, the types of international credit cards are still different. So what are the types of international credit cards? How to choose the card type? Let’s find out more about it together next.
What are the types of international credit cards?
1. Visa card (VISA)
VISA card is also translated as Visa, Weixin, Huicai card, and Visa card. It is a credit card brand. VISA card is a credit card brand. The credit card issued by SA International Organization in late 1982 can be accepted at more than 29 million merchant transaction points around the world, and can provide cash withdrawal services at 1.8 million ATMs, providing unlimited convenience.
2. MasterCard
VISA and Mastercard have built a global alliance for credit card consumption. After domestic banks cooperate with them, credit cards issued by domestic banks can be used on They use credit cards to make purchases within the alliance. You can choose to apply for a VISA credit card or a Mastercar credit card when applying for a credit card.
3. American Express Card (American Express)
American Express has been serving high-end customers for a hundred years, and has accumulated rich service experience and a large group of high-quality customers. There are also Peony Express Cards, China Merchants Express Cards, CITIC American Express Cards, Great Wall American Express Cards, and Minsheng Express Cards.
4. Diners Club
Diners Club's main advantage is that it increases its sales in untapped areas and consolidates the company's position in the credit card market A strong position maintained. The company has strengthened its position in the international market through a reciprocal agreement between Diners Club's cash exchange network and its ATM network.
The card is an international credit card commonly used in the world. It is a credit card jointly issued by Sanwa Bank, Nippon Shinto Bank, Mitsui Bank, Kyowa Bank, and Daiwa Bank in 1961. This credit card (2013) has been issued and circulated in 190 countries and regions around the world. It is one of the top five international credit card brands and the only international credit card brand originating from Asia. JCB pays special attention to countries and regions such as China and South Korea. In China, 9 banks have issued JCB credit cards.
How to choose the card type for international credit cards?
From the perspective of usage, if you only consume domestically, UnionPay is the best choice.
If you often travel or make purchases with credit cards in the United States, Asia, and Australia, it is recommended that you choose VISA, because VISA accepts a larger number of merchants in the United States, Asia, and Australia, making it more convenient to use.
The advantage of Mastercard lies in Europe. Friends who often go to Europe can choose Mastercard.
The above is the relevant content brought to you "What are the types of international credit cards? How to choose a card type?" I hope it can help you.
How to choose a credit card organization?
It is divided into the following two usage situations:
1. Only for domestic use: you can choose a credit card with only the UnionPay logo.
2. If you have overseas transaction needs: you can choose a dual-currency or full-currency credit card with both the UnionPay logo and the VISA or Master logo.
Six major credit card organizations:
They are VISA International.
MasterCard International.
American Express International, Inc. (AmericaExpress).
China UnionPay Co., Ltd. (ChinaUnionPayCo., Ltd.).
Diners Club.
JCB Japan International Credit Card Corporation (JCB).
CreditCard:
It is a non-cash transaction payment method. It is a small credit payment tool provided by banks to users to consume first and repay later. It was the earliest Credit cards appeared at the end of the 19th century.
It’s your first time studying abroad, how to choose a Bank of China credit card?
For international students traveling abroad for the first time, it is recommended to bring an appropriate amount of 1 to 2 Bank of China credit cards (no more than the equivalent of US$10,000).
It is recommended that you apply for the Bank of China Great Wall Zhuojun Study Abroad Series Credit Card. It has multiple channels and multiple currencies. It provides products in 4 currencies including US dollars, pounds, Australian dollars, and euros. It is recommended to choose according to the destination of study abroad. At the same time, the Bank of China Great Wall Zhuojun Study Abroad Series credit cards are EMV standard chip cards, making overseas payments more secure.
Different card organizations have different coverage of merchants in different regions, so it is recommended to carry cards from two different card organizations when traveling abroad. It is recommended to bring a UnionPay brand card and a card from a foreign card organization (such as Visa , Mastercard, etc.).
Due to the different standards of overseas POS acceptance terminals, overseas card use operations will be different, which are mainly divided into those that do not support passwords, those that support six-digit passwords, and those that support four-digit passwords. If the wrong password is entered six times in a row, the card will be locked and you need to call the Bank of China credit card customer service hotline 4006695566 to unlock it. In order to avoid temporarily having no card available overseas, it is recommended to have an extra backup card.
The above content is for your reference, please refer to actual business regulations.
How to choose the card organization of a credit card?
It is divided into the following two usage situations:
1. Only for domestic use: you can choose a credit card with only the UnionPay logo .
2. If you have overseas transaction needs: you can choose a dual-currency or full-currency credit card with both the UnionPay logo and the VISA or Master logo.
Six major credit card organizations:
They are VISA International.
MasterCard International.
American Express International, Inc. (AmericaExpress).
China UnionPay Co., Ltd. (ChinaUnionPayCo., Ltd.).
Diners Club.
JCB Japan International Credit Card Corporation (JCB).
CreditCard:
It is a non-cash transaction payment method. It is a small credit payment tool provided by banks to users to consume first and repay later. It was the earliest Credit cards appeared at the end of the 19th century.
That’s it for the introduction of how to choose a credit card organization.