Quote:
Originally Posted by spunkmaster
The fact is most people use their credit cards "MORE" during a recession and they
buy items like porn to feel good because they can buy something on their plastic.
Visa, Mastcard, First Data and TCYS all posted their sales recently and all of them
reported a 15% - 30% increase in sales and card useage. First Data and TCYS process
about 70% of all credit and debit cards worldwide and they both reported strong sales today !
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yeah but the banks that issue the cards are all reporting higher default rates. So Visa is just fine cause they are getting increasing charge fees but the banks themselves (and their creditors like Harley Davidson, for example) are reporting higher defaults and i'm guessing that translates into higher credits and chargebacks.