Team Est. | Published 24/10/2025 Updated 29/10/2025

Differences between Visa, Mastercard, and Amex in Canada

How the networks differ

There is one structural difference that shapes many other trade-offs. American Express acts as both a card issuer and a payment network for many of its cards. Visa and Mastercard are payment networks only; banks and other issuers (Chase, Citi, Bank of America, etc.) issue the cards that run on Visa or Mastercard rails.

Practical implications:

American Express: Cardholder typically deals directly with Amex for credit, benefits, and customer service.
Visa and Mastercard: The network handles transaction processing while the issuing bank manages credit decisions, customer service, and many card-level benefits.

Merchant acceptance

Domestic

Acceptance in the United States is very high for all three networks. Historically Visa and Mastercard led, but American Express has closed much of the gap.

Visa and Mastercard: roughly 10.7 million U.S. merchant locations accept these networks.
American Express: as of a 2020 industry report, acceptance rose to about 10.6 million U.S. locations (up from 3.7 million five years earlier).

Bottom line: for most U.S. spending any of the three will work fine, though individual merchants (for example, Costco) may accept only one network.

International

Here differences are more meaningful. Visa and Mastercard are accepted in 200+ countries, while American Express is accepted in 160+ countries. In many parts of Europe and Asia it is easier to rely on Visa or Mastercard.

Recommendation: travelers should carry a Visa or Mastercard as a backup when going abroad.

Network benefits and levels

Each network provides baseline protections and higher-tier benefits depending on card level. Issuers can and often do layer additional perks on top.

Visa (typical levels)

Traditional: zero liability for fraud, roadside dispatch, emergency card replacement, emergency cash disbursement, rental collision damage waiver.
Visa Signature: travel and emergency assistance, lost luggage reimbursement, concierge services, luxury hotel collection, dining and golf offers.
Visa Infinite: travel insurance, purchase security and return protection, Global Entry credit (on some cards), car rental privileges, Priority Pass lounge access and other premium travel benefits.

Mastercard (typical levels)

Standard: zero liability protection, global Mastercard service, ID theft protection, rental car insurance, extended warranty.
World: added travel protections, luxury hotel partnerships, shop runner, airport concierge access, additional travel insurance features.
World Elite: elevated travel benefits, personal travel advisor, premium global service, lifestyle credits and partner discounts.

American Express (card-dependent)

Amex benefits vary significantly by card but commonly include extended warranty, purchase protection, return protection, cell phone coverage, concierge service, Amex Offers, baggage insurance, car rental loss and damage coverage, trip delay and trip cancellation/interruption insurance.

Because Amex issues many of its cards directly, the card-level benefit package is frequently broader and more consistently applied across Amex-branded products.

Pricing and merchant fees

Merchant swipe fees historically influenced acceptance. An industry snapshot from 2020 showed the weighted average swipe fee for Visa and Mastercard at about 2.26 percent and American Express around 2.30 percent. That 0.04 percent gap has narrowed acceptance differences and helped Amex expand merchant footprint.

For consumers this matters indirectly: when networks charge higher fees merchants may be less likely to accept them, or some merchants might offset costs with surcharges or limited acceptance.

Eligibility and card selection

Eligibility varies by issuer and card. In general:

American Express cards tend to have higher baseline credit requirements (commonly good to excellent credit, 670+).
Visa and Mastercard cards are issued by many banks and span the credit spectrum; options exist for fair credit (around 630) through premium products.

If approval odds are a concern, Visa or Mastercard products issued by regional banks or credit unions typically offer broader access.

Card selection is wider across Visa and Mastercard because many issuers issue cards on their platforms. American Express issues fewer co-branded or bank-issued cards overall.

Customer service

American Express has a strong reputation for customer service and consistently ranks highly in satisfaction surveys. With Visa and Mastercard, cardholders contact the issuing bank for service inquiries, so experience varies by issuer.

Practical takeaway: if consistent, high-touch customer service is a priority, American Express is often preferred. If variety of card choices or issuer promotions matter more, Visa and Mastercard give more options.

Travel, loyalty partners, and points

Network and issuer partnerships can be decisive for travel rewards collectors.

Some airline and hotel co-branded cards are exclusive to a single network. For example, Delta and Hilton co-branded cards are commonly American Express. United and Southwest co-branded cards are typically on Visa. Hawaiian Airlines cards may appear on Mastercard.
Transferable points programs matter: Amex Membership Rewards, Chase Ultimate Rewards, Capital One Miles, and Citi ThankYou each have different airline and hotel transfer partners. Cardholders should choose the program that connects to the airlines or hotels they use. For instance, to book certain transatlantic partners like Aer Lingus, selectable transfer partners (Amex Membership Rewards or Chase Ultimate Rewards) determine feasibility.

Store-branded cards and specific examples

Capital One Walmart Rewards Card is a Mastercard.
Costco Anywhere Visa Card is issued by Citi and runs on Visa.
Macy’s credit card is processed on the American Express network.

Store co-branded cards force the network choice; shoppers should check which network a desired store card uses before applying.

Choosing the right network: a practical checklist

Check credit score. If credit is good to excellent, all networks are options. If credit is fair or rebuilding, seek Visa or Mastercard products through issuers that cater to a wider credit range.
Where you spend. If most spending is domestic, any network generally works. For frequent international travel, prioritize a Visa or Mastercard for broader global acceptance.
Travel partners. Pick the network and issuer whose loyalty and transferable point partners match your frequent airlines and hotels.
Card features. Decide what matters most: airport lounge access, category bonuses, 0% APR introductory offers, or robust purchase protections. Those features are often issuer-specific and matter more than the underlying network.
Diversify. Carrying at least two cards across different networks reduces the chance of being unable to pay at a merchant and provides backup if an issuer takes action on an account.

Pros and cons by network

American Express

Pros: strong customer service, rich and consistent card-level benefits, excellent rewards programs (Membership Rewards), direct issuance simplifies support.
Cons: slightly narrower international acceptance, tougher approval standards for many cards, fewer issuer-branded card choices.

Visa

Pros: broad global acceptance, wide selection of cards from many issuers, wide range of credit tiers and co-branded travel cards.
Cons: benefits vary by issuer and card level; network-level protections exist but issuers control many perks and service experiences.

Mastercard

Pros: broad global acceptance comparable to Visa, diverse issuer options, several premium benefit tiers (World, World Elite).
Cons: like Visa, card-level benefits and customer service quality depend on the issuer.

Who each network is best for

American Express is best for consumers who value premium, consistent customer service and card benefits, and who primarily spend in the United States or on merchants that accept Amex.
Visa or Mastercard are best for frequent international travelers, people who need a broad selection of issuer offers (including low-credit options), and shoppers who want flexibility across co-branded cards.
Everyone should consider carrying at least one card from a different network as backup.

Overall recommendation

Choosing between American Express, Visa, and Mastercard should start with the card product and issuer rather than the network alone. The issuer determines approval odds, customer service, and many card-level perks. The network determines merchant acceptance and baseline protections.

For most U.S.-based consumers who rarely travel internationally, network choice is less critical: pick the card with the best rewards and benefits for spending habits. For frequent international travelers, prioritize a Visa or Mastercard. In all cases, diversify networks where possible and align transferable point programs and airline/hotel partnerships with personal travel goals.

Final thoughts

All three networks offer reliable processing and meaningful protections. The right balance depends on credit profile, travel frequency, merchant preferences, and rewards strategy. Assess eligibility first, then select the issuer and specific card that delivers the features and partners most useful to the cardholder.