Higher card use, better payment habits lift Discover Financial Services 4Q …
News from Washington Post:

NEW YORK — Shoppers spent more with Discover cards as the holiday shopping season began, helping lift the credit card company’s fiscal fourth quarter profit 46 percent.

Discover Financial Services said Thursday that sales volume on its namesake cards rose 8 percent to $ 25.03 billion in the quarter. The total number of transactions Discover’s networks processed rose 5 percent.

Discover executives said during a conference call to discuss the results that the increased use shows that its customers are reaching for their cards more often compared with other cards they carry — Discover is becoming their “primary card.” The trend is partially because more merchants accept Discover now, and also because consumers are seeking benefits like Discover’s cash-back rewards when they make purchases.

Also helping boost results during the quarter was an improvement in customer payment habits. Rates of late payments and defaults fell.

Reflecting a broade…………… continues on Washington Post

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Related News:

Belleville man charged for illegal credit card use
News from KMOV.com:

24-year-old Antwan Smith of Belleville was arrested for illegally charging $ 163.25 to an unknown woman’s credit card account. Davis is being held on $ 5,000 bail.


Posted on December 15, 2011 at 3:18 PM

BELLEVILLE, Ill. (KMOV) – A 24-year-old Belleville man was arrested and charged for illegal bank card use.

A 29-year-old woman reported that she misplaced her bank card, and later discovered that someone had charged $ 163.25 to her account.

Davis is being held on $ 5,000 bail.

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