Mastercard and Visa are card networks: Along with American Express and Discover, Mastercard and Visa make up the four major payment networks. They facilitate payments between the banks and the merchants on credit card purchases. They also determine where their cards will be accepted.

Mastercard offers three different credit card tiers: Standard, World and World Elite. Each tier comes with a unique package of Mastercard benefits and perks. These Mastercard credit card features include everything from concierge services and travel rewards to Lyft discounts and free ShopRunner memberships.

What is an outstanding balance? An outstanding balance on a credit card is the amount of money you owe the minute you check your account. This amount includes all charges on your

Credit and charge cards have their similarities, but they actually have more differences. Getting to know those differences can steer you toward a better choice of plastic down the road.