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As an improving market and government stimulus boosts consumer spending, credit card companies will likely benefit significantly. The rising need for consumer credit, accelerating technological innovation, and widespread use of digital prepaid card services should drive the growth of the credit card industry in the coming months. Actually, the global credit card industry is expected to reach $103.06 billion in 2021, growing at a 3% CAGR.
Hence, we think major credit card companies Visa Inc . (NYSE:V), Mastercard Incorporated (NYSE:MA), and Discover Financial Services (NYSE:DFS) are well-positioned to capitalize on the industry’s tailwinds. So, these stocks could be solid additions to one’s portfolio now.
