total amount of transaction volume at Visa

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
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Postby Floppster » Tue Nov 18, 2008 6:07 pm

AnthonyBarone wrote:Keep an eye on Discover they will have the most growth here. 6% marketshare now but they are accepted at almost all the same places as the big boys. They keep up their reward cards you'll be seeing a bunch more folks switching to them.

I am not entirely sure if Discover will grow that much over the next few years. I really like them however the average CC Client wants to have a low APR. Unfortunately Discover is not necessarily the CC with the lowest APR. However I do not see them being able to lower the APR especially not since they have all these cool Cash Back Programs.
Intellectuals solve problems. Geniuses prevent them.
- Albert Einstein 1879-1955

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Mogul of Pineapples
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Postby Mogul of Pineapples » Thu Nov 20, 2008 7:34 pm

I second that, Floppster. Discover would be able to grow rapidly if they offered a low interest credit card. With credit cards you have two types of customers 1) rewards customers and 2) customers seeking credit cards with the lowest interest rates. Discover is doing a good job capitalizing on the first type but not at all on the second. Then again this may be a smarter move because customers with balances are more likely (but not always) those that have a tight budget. In times like this it is a smart move and they should have less credit card delinquencies than average because of it.
Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed and linked to. Regardless, anything I say is my honest opinion.

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