Different types of credit cards exist for different kinds of transactions, but really the benefits of having any credit card are essentially the same. Whether you choose Visa or MasterCard you will be able to make purchases around the world, and in cyberspace, to your hearts content. You will enjoy the same pros whatever card you choose, but you will also be subject to the same risks including fraud and an extremely scary bill at the end of the month. Many South Africans struggle to control their spending and large card companies enjoy the gains of charging high interest rates at the expense of ordinary people. With rights come responsibility, or so they say.
Some banks will say that different types of credit cards, such as the available prepaid, are less likely to be subject to fraud than others, because of increased protection measures. This may be the case, but there is always the risk of this happening. What normally happens is that you use your card to buy something in a store or online and someone tracks your card number and secret code. They can then easily replicate your card to use for whatever transaction they would like to make, either by making another plastic card, or by simply using your details for online purchases and transfers. It’s that simple to use your Visa or MasterCard for devious means.
You can get insurance for your credit card but a cleverer way to avoid this problem is to set yourself realistic limits so that whoever steals your information or card can only spend so much before you catch them. The benefits of the security provided by limits are priceless, much like the MasterCard advertisements tell you. If you are at all inclined to spend beyond your means however, then perhaps you should change your focus.