Difference Between Master and Maestro
Maestro and Master card are the common words but here they serve a different perspective. Here we shall limit ourselves up to the two different plastic cards by one company called known as Master Card Worldwide which has its head office in New York. Including Visa card with these two cards, MCW is perhaps the largest debit and credit card company in the world. For many decades now the company has been issuing these different payment options to the customers across the world. Two businessmen in the United States created the company and today it has over 25000 banks across the world as its members.
MasterCard was introduced by several banks in California as to compete with BankAmerica card by Bank of America. BankAmerica became the Card of Visa later.
Master card is primarily a credit card and the credit limit is put by the bank to which the customer can buy with the help of this credit card. He must repay the amount that he spends within a given time. If there is a delay beyond this period, the customer has to pay interest on top of the amount that they spend. MasterCard is used by the customers with different backgrounds and people use it in case of emergency when they are short of funds and agree to pay back the money to the bank in 30-45 (depending on circumstances) without interest.
Maestro’s card is another card by the same company which is also popular in all parts of world. MaestroCard is basically a debit card which is doubled with the count of the customer in the bank and the customer can use the card to make payments in different outlets instead of paying in cash. There is no limit on credit and the customer uses his own funds in fact.