I've had both at different times and have never been to a place which doesn't accept either. You can't really go wrong with them IMO. Whether or not you get a good deal on your card depends on the institution you get the card from, not if it is a Visa or Mastercard.
Pretty much the difference is that they are 2 different companies, that have a different logo's. They are accepted world wide and no advantage/disadvantage of having one over the other. As said above it depends on the deal that the financial instiutution gives you as to which is the best to have.
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