The Ultimate Guide to Credit Cards
Thursday, April 2, 2020
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2020's Best Visa® Credit Cards

Below are our ratings of 2020's best Visa® credit card offers. Issued by a number of banks internationally, Visa® is accepted at millions of stores and ATMs around the world.

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How Visa Credit Cards Came to Be

Adam West
By: Adam West
How Visa Credit Cards Came to Be Guide: Visa®

For decades, Visa has led the credit card market as the top payment processing in the world. Hundreds of credit cards from banks and credit unions large and small sport the Visa logo, and the company processes billions of transactions each year.

And it all started with the very first mass market consumer credit card.

Visa’s journey to become a global payments giant first began in 1958. In that year, Bank of America launched the first general consumer credit card — the BankAmericard. It was the first card to ever use the concept of revolving credit.

Two milestones helped mend a fragile industry

First, BankAmericard became Visa, and the famous blue and gold stripes of Visa’s brand were introduced. Second, Visa also launched VisaNet. According to the company, this development was, “the world’s first truly electronic authorization, clearing and settlement system, which enabled transactions to be completed in seconds.”

These changes brought scale, security and reliability

The next major change was in 1983, when Visa launched their ATM network around the world. In 1988, the company sponsored its first Olympic Games — something they continue to do to this day. In 1995, Visa debuted its check cards and debit card technology, which later became household staples worldwide. The company also began to co-develop EMV (Europay/MasterCard/Visa) technology (chip cards). By 1997, the company reached $1 trillion in total volume — a major milestone in the payments industry.

In 2000, the amount of Visa-branded cards reached one billion

That same year, the company launched a Zero Liability guarantee, which meant cardholders weren’t responsible for any fraudulent charges made on their Visa cards. While the company began in credit, by 2004 their debit card volume surpassed their total global credit volume, showing the popularity of debit cards. The company continued to introduce new technology. In 2005, they began issuing contact-less cards (the cards where you tap to pay rather than swipe).

The payment company operated as separate entities owned regionally by global banks. In 2007, however, all of the separate worldwide regions (United States, Canada, Latin America, the Caribbean, Asia Pacific, Central Europe, Middle East and Africa) merged into Visa Inc. It went public in March 2008 in what Visa says was “one of the largest and most successful IPOs in history.”

Many consumers wonder how Visa is from a bank

While banks actually issue the credit or debit cards, Visa is the company that processes the financial transactions. They make money on small interchange fees charged to merchants for accepting the cards. The only credit card companies that don’t use Visa are Discover and American Express because they handle payment transactions for the cards they issue.

After decades of growth, Visa now operates throughout 200 countries and territories with its network of 2.2 billion cards. “As we look to the future,” the company says, “we are tied to vision first envisioned by our founder Dee Hock – to be the best way to pay and be paid, for everyone, everywhere.”

Editorial Note: Opinions expressed here are author's alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

The information on this page was reviewed for accuracy on .

About the Author

Adam West Adam West

As Managing Editor for CardRates, Adam oversees content and regularly interviews some of the payments industry's biggest influencers and decision-makers so our site can bring high-quality and engaging stories to our audience and keep readers informed on the latest trends and technology in the space.

Advertiser Disclosure: The credit card offers that appear on this site are from credit card companies from which receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). does not include all credit card companies or all available credit card offers. See the credit card issuer's website for specific terms and conditions of each card.