Credit cards, debit cards, prepaid cards, Mastercard or Visa - which to choose? 🧐

Bank cards are now essential for payments. They’re popular because carrying cash isn’t always safe, and they offer plenty of advantages. When it comes to bank cards, there are several categories and brands. Each has its own advantage, and it’s tough to make the right call. We hope the lines below help you decide. 😊

What is a debit card?

A debit card is a national or international payment method (GIM-UEMOA, VISA, Mastercard…) provided by the bank when you open a current account. For every purchase or withdrawal you make, your linked account is debited based on the terms you chose. There are two debit modes:

Immediate debit with systematic authorization

Every payment triggers a balance check to verify the account has enough funds to cover the transaction. The account is debited day by day, transaction by transaction.

Immediate debit without systematic authorization

The funds check isn’t immediate. For small amounts, there’s a risk of overdraft. Above a certain threshold or for foreign payments, an authorization request is systematically triggered. The amount is usually debited within 24 to 48 hours, or sometimes at the end of the month. Depending on your spending habits, choose the card’s debit mode carefully.

What is a credit card?

A credit card isn’t directly tied to your account. Instead, it’s linked to a credit reserve that you can top up. It’s issued by banks, department stores and retail chains. At each billing cycle (monthly, weekly…), the company sends you a statement showing all credit payments. Per the contract terms, the amount is either debited automatically shortly after, or spread out with interest over a set period. Heads up: the interest rates can be very high, and you risk getting into debt.

What is a prepaid card?

A prepaid bank card isn’t directly tied to a bank account. You load it via transfer, an in-branch deposit, or at retailers. Once loaded, you can use it for purchases and payments. VISA-network prepaid cards are designed to limit spending. The Djamo VISA card, for instance, lets you stay in control of your money.

Compared to other card types, overdraft is impossible - you can only spend what you’ve loaded on the card.

Mastercard or VISA?

Mastercard and VISA are the two card companies that dominate the international market. Their cards are now essential in our daily lives, with plenty of advantages.

They look alike on many points, but there are real differences. Compared to Mastercard, VISA holds the majority of market share - they’re used worldwide. Many merchants accept them, and they’re available in 200 countries with nearly 38 million acceptance points.

VISA card types

On the VISA website, you’ll see several types of cards. A few examples:

VISA prepaid card: A card for every type of spend - gifts, allowance, etc. No bank account needed. You can’t spend more than what’s loaded on the card.

VISA Electron: An international withdrawal and payment card. Your account balance is checked at every transaction - no overspending possible.

VISA Premier: High payment limits. Travel insurance for sea, ski and beyond. Perks from major Visa Premier partner brands.

Mastercard card types

On its website, Mastercard offers the following cards:

Maestro: An international payment and withdrawal card. It includes essential assistance services for travelers, like medical assistance.

Cirrus withdrawal card: Ideal for cash withdrawals, available in nearly 210 countries.

Mastercard Standard: An international payment and withdrawal card on a global network.

Mastercard sits in second place after VISA on market share. But the network is in over 210 countries, and nearly 35.9 million businesses accept its cards.

Choosing between a VISA or Mastercard card isn’t easy - both offer entry-level, classic and premium options. These cards are accepted internationally, but the terms, fees and perks are set by the financial institutions that issue them.

We hope this helped you understand the differences between bank cards and choose between VISA and Mastercard.