Visa 1Q profit rises 16 percent as card use rises

Posted by administrator | 08/02/12 | Tagged Credit Card

Visa 1Q profit rises 16 percent as card use rises
News from The Associated Press:

Visa 1Q profit rises 16 percent as card use rises

NEW YORK (AP) — Visa Inc. said Wednesday that its fiscal first-quarter profit rose 16 percent, as card use rose both in the U.S. and overseas.

The San Francisco-based payments processor posted a notable 10 percent increase in U.S. credit card use, stating much of that growth came from a continued revival in spending by affluent consumers.

But debit card use rose just 6 percent. That’s the slowest debit card growth rate in more than a year, and comes during the first three-month period that new rules were in place to limit the fees retailers pay to accept the cards.

The rules also require that starting in April, merchants get a choice on which network handles their debit transactions. In the last few months, Visa has been offering incentives to encourage stores to choose its network.

Debit growth has been slowing over the past few quarters. In January, debit growth slowed further, to 4 percent, said Chief Financial Officer Byron Pollitt during a conference call to discuss results. “We are beginning to see the impact of the new debit rules,” he said.

Edward Jones analyst Shannon Stemm noted that, while it’s too soon to determine the overall impact of t…………… continues on The Associated Press

… Read the full article
.

Related News:

Woman Uses Stolen Credit Card At Walmart
News from Patch.com:

Merrimack Police arrested a Peterborough woman after a weeks-long investigation into an incident in which a credit card was stolen from the Merrimack YMCA.

Jaime Lee Zielinski, 29, of 155 Grove St., Peterborough, was charged with one count of theft by unauthorized taking for stealing a credit card and other items from a YMCA member’s wallet inside the 6 Henry Clay Drive facility, police say.

She was later captured on security cameras inside Walmart in Amherst attempting to use the stolen credit card to purchase expensive electronics, police say. The card was declined at the point of sale because the owner of it had reported it stolen immediately.

Zielinski is also expected to be charged by Amherst police for the attempted usage of the credit card in their town.

Police are still attempting to identify a male suspect they believe was working with Zielinski. The male suspect was also caught on camera at Walmart and is believed to have stolen belongings from other YMCA members that were then used in Amherst.

Further, police are using this incident as a reminder to anyone who uses a workout facility in the community to keep all personal belongings and valuables locked in their vehicles and out of sight.

“This has been a significant problem for many years and can have many lasting effects on a victim where identification and credit c…………… continues on Patch.com

… Read the full article


Anuschka Credit and Business Card Holder-Premium


Anuschka Credit and Business Card Holder-Premium
List Price: 45.0
Price: 45.00

Police: Thieves Make, Use Credit Card With Victim’s Information
News from NBC4i.com:

By: Nick Petrello and Tom Brockman | NBC4i.com

Police in one central Ohio city need your help identifying two suspects they believe made their own credit card and went on a shopping spree that cost a man in Powell $ 750.

“It definitely wasn’t me,” said the victim, Larry.  He wanted to be identified only by his first name.

According to Powell police, over a two day period in late November, two women shopped at two different stores at Easton – twice at Macy’s and three time at Target, in which surveillance video was shot. 

The video shows one of the women checking out time after time.  As she leaves, it appears as if the surveillance camera spooks her and she lowers her head.

Larry, who has no idea who the women are, didn’t find out about the $ 750 charge until he saw bank statement a couple days later.

“My first reaction was I did not shop there during that time, I was out of state,” said Larry.

Perhaps the most interesting and disturbing thing about the case is that these suspec…………… continues on NBC4i.com

… Read the full article
.

Related News:

Give your card some credit
News from Telegraph.co.uk:

To use credit cards well, always (unless you are on a 0pc transfer deal) set up a direct debit to pay off the balance at the end of the month. Always be aware of the day on which this money leaves your bank account, and make sure that it does not send you into your overdraft.

Using a credit card well requires financial discipline, but the rewards are worth having. The following facts may help you to think again about whether the credit card has had its day.

Credit cards can rebuild your credit rating

For many younger people, credit cards scarcely feel like an option, because even if they apply for them they cannot get them. Even Vanquis, which specialises in credit cards for those with poor credit ratings, accepts only 18 per cent of those who apply.

Mr Black added that “it is becoming much more difficult to get credit cards for vast swathes of the population. Personal pricing, whereby some of those deemed to be an acceptable credit risk may get charged a higher interest rate, is also prevalent”.

However, if you pay your card off every month as recommended above, the interest rate is not relevant because you will never get charged. Using a credit card well and paying it off will also help put a positive rating on to your credit report – lenders like to see that you have form with using credit and will be more favourable to those wit…………… continues on Telegraph.co.uk

… Read the full article


© 2017. Credit Card Talk