NEW YORK, NY -- (Marketwire) -- 04/17/12 -- The Credit Card Industry took a massive beating during the recent financial crisis. But things are looking bright for the industry in 2012 as all five of the major credit card companies have gains in the double-digits this year. With an improving economy and worries about a new economic downturn subsiding consumers look to be ready to spend, thus leaving credit card lenders feeling optimistic about the future. Five Star Equities examines the outlook for companies in the Credit Services Industry and provides equity research on Visa Inc. (NYSE: V) and MasterCard Inc. (NYSE: MA). Access to the full company reports can be found at:
According to FICO's quarterly survey of bank risk professionals a large number of lenders expect the number of credit cards handed out to be larger than in the first few years coming out of the recession. "They need new customers," says Dr. Andrew Jennings, chief analytics officer at FICO and head of FICO labs. "Lenders have to get back to lending because basically they make money by lending." Jennings added, "We've also seen a recent uptick in the volume of scores used for mailings and credit card solicitations so that's another indication lenders are willing to lend."
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Visa Inc. will report its fiscal second quarter 2012 financial results on Wednesday, May 2, 2012. The results will be included in a press release, with accompanying financial information that will be released after market close and posted on the Visa Investor Relations website. Visa's executive management team will then host a live audio webcast beginning at 5:00 p.m. Eastern Time to discuss the financial results and business highlights.
On Wednesday, May 2, 2012, MasterCard Incorporated will release its first-quarter 2012 financial results. The company will host a conference call to discuss these results at 9:00 a.m. Eastern Time.
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