The search for a credit card can be a time consuming process that can get on top of you, as you try and make sense of all the financial speak. From 0% balance transfers to APR, finding the right credit card for you can feel like a bit of a lottery. Do you take a MasterCard or Visa? And how are they different from each other? Well hopefully the card issuers will take up the call from The Office of Fair Trading to make the whole process a lot easier to understand and more transparent, to stop us going off our heads.

The right credit card for you should be the first thought on your mind, if you can afford to pay the card balance off every month, then just about any card on the market is fine for you, as the interest rates will not be added to your account, if you can only pay back a bit at a time, if this is the case then take up one of the deals that many of the credit card issuers are offering at this moment in time, including a 0% period on balance transfers and purchases on anything from 6-9 months in some cases a full year, this will give you a little leeway on paying back your balance. Though if you are going to be a long-term debtor then a low annual APR is a better option for you.

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Now back to working out what is the difference between MasterCard and Visa, well basically there is no difference, both are just the monikers of the companies who keep track of when and where the card is getting used and letting us know when and how much we have to pay back to our accounts. The only slight difference could be if you plan to use your card abroad then some countries have a preference for one over the other, though both MasterCard and Visa are accepted as currency here in the UK and all over the rest of the world.

As you have undoubtedly heard the new Chip and Pin method has been introduced to MasterCard to combat card fraud, with your own personal 4 digit number, this will hopefully give you more peace of mind when using your card, with being able to use a MasterCard in over 20 million establishments world wide, is good to know that your interests are being looked after, and with 900,000 ATM’s all over the globe to withdraw cash from.

MasterCard also have a security system installed to help combat the threat of Internet fraud called MasterCard Secure Code, which protects you when you are buying on-line, they also offer a 24 hour helpline for any cards that are lost or stolen.

But remember once you feel that you have picked the right card, if used right then the credit card of your choice will become your best friend, so don’t let it become your worst nightmare.