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Credit card brands are very important in defining the general acceptance of a card from a given financial institution. After all, how do they mediate financial transactions between banks and merchants, need to be reliable.
However, there are many questions when it comes to credit card brands: what are the differences between the existing brands? And what are the best options to choose? Is there any risk or care needed when choosing your card brand?
With all these frequently asked questions in mind, we have developed this complete article with everything you need to know before choosing your card brand. Just continue reading to analyze all the tips we have selected. Stay tuned!
What are credit card flags?
Credit card brands are responsible for intermediating the sales that the customer makes between commercial institutions (stores, shopping malls and websites) and credit card operators, which can be banks, stores and other financial institutions.
You may have noticed that it is very common to see flags in the market. Elo, Visa, Mastercard and even American Express, which is aimed at a class of consumers with high turnover and, consequently, consumption.
What is the difference between credit flags and operators?
The main difference between credit card brands and operators is the role each plays.
To the flags are like the “brand” of the card, responsible for accrediting the stores who decide to ally themselves with them, creating a huge, international network of partners.
Therefore, the more accredited, the more resources and technological support the brand needs to make available to handle all transactions and requests (often thousands at the same time!).
Do you know when you swipe your credit card through a machine in a store and have to wait a few seconds for it to be validated? This short period is the flag validating your balance and possibility of use with the bank or financial partner.
The success of the brands in carrying out their activities means that they are recognized worldwide, increasing their level of acceptance among consumers and market institutions.
On the other hand, credit card operators are responsible for balancing and charging, monthly, after using the card.
To make it simpler, just look at the example of Visa and Banco do Brasil, its partner financial institution. So, another option is to choose the best digital account with credit card.
In this way, the operators contact you, the customer, ensuring that the bill is paid and renegotiating, if you do not have the amount available for payment on the scheduled date, always with the application of interest.
How do credit card flags work?
Credit card brands therefore act as mediators of financial transactions. Thus, the more affiliated operators and the more support provided, the greater the degree of recognition, acceptance and use of certain brands.
Unlike what many people think, Credit card brands are not responsible for setting annual fees, interest rates, validity or card limits. These are the responsibilities of the financial institutions affiliated with them.
Therefore, it is possible to find credit cards from different banks on the market that, despite being under the same brand, have completely different fees and bureaucracy.
Therefore, choosing a card brand should be a cautious step, especially if you are a consumer who likes to use your card for purchases abroad, during leisure or business trips.
Take the opportunity to read also:
What are the main credit card brands?
Although new brands were created, with predominantly regional use, such as Sorocred and Senff, the most famous are 3: Visa, Mastercard and Elo.
Since they already have a strong reputation in the market, choosing one of them is the safest option. Let’s take a look at the main benefits of each one below.
Visa
Visa is the second most widely accepted brand on the market, behind only Mastercard. Present in over 200 countries, Visa caters well to those who enjoy traveling and discounts.
It offers discount programs such as Go with Visa, which allows the customer to register their card on “Visa Checkout” and receive benefits when paying for services such as hotels, car and taxi rentals, restaurants and airline tickets.
In addition, there is the program Visa Passfirst, which is ideal for football lovers. With it, you can buy tickets and entry to games online, without having to wait in lines or waste time traveling.
There is also a hierarchy of Visa cards, for the most diverse types of customers, such as:
- Visa Classic Card, for simple, everyday and also international purchases;
- Visa Gold, with several facilities for those who love to travel;
- Visa Platinum and Visa Infinite, aimed at people with greater purchasing power, as it guarantees exclusive advantages.
MasterCard
The Mastercard card is the most accepted on the market, present in 210 countries.
Like Visa, Mastercard has interesting programs such as Masterpass, which allows you to purchase with just one click, and Mastercard Surpreenda, with the accumulation of points for the withdrawal of double products.
The card hierarchy also has 3 levels: basic, intermediate and exclusive, with the following modalities:
- Mastercard Standard, ideal for those who use a credit card little or want to start using it;
- Mastercard Gold and Mastercard Platinum, with benefits such as protected purchase, extended warranty, car insurance and travel assistance;
- and Mastercard Black, for upper-class customers, with protection against ATM theft, luggage protection and other exclusive features.
Link
The Elo flag is national, guaranteed by Banco do Brasil, Bradesco and Caixa Federal Economic. Although they are fully accepted in Brazil, Elo is still in the process of gaining strength abroad.
Customers of this brand can discounts in specific stores such as Outback, Havaianas, Movida (car rental) and many others.
All available Elo cards are:
- Basic Link, a starter card for customers with common needs;
- Link Plus, with accumulation of points and network connection;
- Graphite and Ink Link, the most advanced, for more powerful consumer classes, enjoy luxury privileges.
How to choose the best credit card brand?
The answer is: it depends! It depends on the your profile and your needs as a consumer and the benefits you want to have with each card.
This is also a choice that involves the customer's affinity with the brand, as all three are well known and ranked in the market.
More important than choosing the right brands is choosing the card issuing institution, analyzing whether it provides good support to customers and what the reviews from older consumers are.
Discover the best credit card options with ConsultaCred!
Conclusion
Have you noticed how credit card brands have interesting purposes and differences? Just select the one that suits you best and matches your spending style. Count on ConsultaCred to help you choose credit cards ideals!
