Tech
How Credit Cards Work In The U.S. | CNBC Marathon
CNBC Marathon takes a look at how credit cards work in the U.S., including major industry players like Visa, Amex, and Discover.
$6.7 trillion. That is how much Americans spent using their debit or credit cards in 2019. More than 60% of those purchases were made using cards from Visa, a company that has long dominated the payment card industry. As payment cards become more essential in our daily lives, Visa has quickly grown to become one of the most valuable companies in America. So how exactly does Visa make money and why does it dominate the payment card industry?
Clarification: The 10% mentioned in the video at 12:30 refers to 10% of the average 2.2% of the swipe fee charged to merchants.
And armed with impressive rewards and a loyal customer base, Amex has achieved impressive growth over the years. The company’s revenue has increased over 32% since 2017 and shares of the company have shown resilience and growth in a tumultuous market. Yet Amex is far from dominating the credit card industry compared to the likes of Visa and Mastercard. So what is the secret to Amex’s success and where is it headed next?
Credit scores, which represent how likely a person is to pay his or her bills, affects almost every aspect of an American’s financial life. One key benefit built into the credit scoring system is its nondiscriminatory practice of using just numbers to determine a person’s creditworthiness. “Credit scoring when it was first developed was an advancement,” said Chi Chi Wu, staff attorney at the National Consumer Law Center. “It is better than having some banker sit across from you and judge you and read the information in your credit report, because they bring a lot of their subjective analysis and their own life experience into the analysis.” But despite the good intentions of credit report companies, many experts argue that the current system is still discriminatory.
Lastly, Discover is one of the largest credit card issuers in the U.S. and consistently tops a customer satisfaction survey. However, the stock has mostly underperformed that of the S&P 500 and its credit card competitors. So how does Discover stack up to its competitors and what’s unique about its business model? Watch the video to find out.
Chapters:
00:00 — Introduction
00:38 — How Visa Became The Most Popular Card In The U.S. (Published October 2021)
14:42 — Why Wealthy Americans Love AmEx (Published January 2023)
27:05 — How Credit Scores Work (Published October 2022)
41:10 — How Discover Won Over The U.S. Middle Class (Published February 2020)
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How Credit Cards Work In The U.S. | CNBC Marathon
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CNBC Marathon explores how Tesla, Rivian and Dodge’s new electric vehicles are transforming the automotive industry.
Over the past decade, Dodge has dug deep into its performance car heritage and become a brand known for brash American muscle cars with supercharged V-8 engines and ridiculous amounts of horsepower. But tightening regulations, rising fuel prices and the rise of the SUV are putting the squeeze on Dodge’s so-called “brotherhood of muscle.” It recently debuted the Charger Daytona SRT EV, an electric car that looks a lot like its popular supercharged Challenger and Charger. Will Dodge fans or EV buyers want it?
Five years after Elon Musk first announced the Tesla Semi, it’s finally hitting roads. CNBC visited Pepsi’s Frito-Lay facility in Modesto, California, where it is using the new electric trucks, to see whether the Semis live up to the hype.
A new electric vehicle company hopes to take on Tesla with its outdoor adventure trucks and SUVs. And its deal with Amazon to build 100,000 electric delivery vans could help it succeed. Founded in 2009, Rivian is focusing on upscale electric trucks and SUVs with an emphasis on outdoor adventure. CNBC’s John Rosevear calls them the “Patagonia of electric vehicles.” Last month, Rivian and Amazon rolled out the first of the electric vans. They are starting to deliver packages in a handful of cities, including Seattle, Baltimore, Chicago and Phoenix.
After manufacturing’s 40-year cycle of decline in the U.S., officials in Washington are trying to bring it back. This move could be a boom or bust for huge swaths of the American Midwest. This region once dominated the auto industry before rising global trade and automation sent domestic manufacturing employment into a tailspin. U.S. leaders hope that new laws such as the Inflation Reduction Act of 2022 will help businesses create the green manufacturing jobs of the future.
Chapters:
00:00 — Introduction
00:48 — Will Dodge’s Electric Muscle Car Satisfy Its Die-Hard Fans? (Published October 2022)
15:31 — Does The Tesla Semi Live Up To The Hype? (Published February 2023)
31:33 — How Amazon Is Giving Rivian An Edge In The EV Industry (Published August 2022)
44:50 — How Electric Vehicles Will Change The Midwest Economy (Published September 2022)
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How Car Makers Are Switching To EVs | CNBC Marathon
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Lowered compliance costs, greater control over products, more big engines, more pickup trucks. These are just some of the changes investors expect from the rollback of fuel economy rules and the elimination of fines. Data indicate pent up demand for pickup trucks, and many automakers are bringing back V-8 engines. At the same time, hybrid vehicles are surging, and electric vehicles have longer term structural demand in their favor.
Chapters:
0:00 Introduction
01:23 Chapter 1: New rules
03:01 Chapter 2: Why this matters
04:52 Chapter 3: Challenges
06:22 Chapter 4: Fuel efficiency
Produced by: Robert Ferris
Edited by: Darren Geeter
Camera by: Ryan Baker
Animation: Jason Reginato, Emily Park
Senior Managing Producer: Tala Hadavi
Additional footage: Getty Images, Ford, GM
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Why Fuel Economy Rollbacks Will Spur More Trucks, More V-8 Engines
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U.S. chip manufacturing faces a shortage of up to 157,000 skilled workers by 2030, a matter of concern for companies like Samsung.
Schools including Purdue and Arizona State have new semiconductor degree programs, and all the biggest chipmakers are investing millions to create pipelines of U.S. chip talent.
CNBC’s Katie Tarasov has the details. Watch the related video for full report.
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CNBC’s Michael Wayland takes a first look at electric vehicle startup Slate Auto’s modular $25,000 pick up trucks. The cars are affordable and basic, with features that buyers can customize. That includes turning the truck into an SUV. The vehicles had more than 150,000 refundable reservations before their release, despite waning consumer demand in EVs in the U.S. The company is about to find out if the truck can disrupt the market.
Reporting by: Michael Wayland
Produced and Camera by: Natalie Rice
Edited by: Darren Geeter
Senior Managing Producer: Tala Hadavi
Additional Footage: Slate Auto
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About CNBC: From ‘Wall Street’ to ‘Main Street’ to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more.
Want to get ahead at work? Then you need to learn how to make effective small talk. In CNBC’s new online course, How To Talk To People At Work, expert instructors teach you how to use everyday conversation to gain visibility, build meaningful relationships and advance your career. Sign up now: https://cnb.cx/4sGlSkh
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CNBC Takes A First Look At Slate Auto’s $25,000 Modular Cars
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AI data centers are driving unprecedented demand for electricity and putting renewed pressure on America’s power grid to modernize its equipment and develop greener, more efficient sources of power. Google, Meta, Microsoft and Amazon are all spending millions of dollars on local infrastructure upgrades and companies like SpaceXAI are even building off-grid power plants to power their data centers.
Google says its planned 780-megawatt data center in Pine Island, Minnesota, could offer a model for powering the AI boom. In a proposed agreement with Xcel Energy, Google says it will support 1,900 megawatts of new wind, solar and battery capacity, while minimum payments and exit fees are intended to protect local ratepayers if demand falls short.
CNBC examines whether projects like Pine Island can make the grid cleaner without shifting costs to existing customers, why some energy experts argue that smaller data centers could make better use of infrastructure already in place, and how utilities’ financial incentives can complicate efforts to build less.
Chapters:
0:00 – 2:06 Introduction
2:07 – 4:49 Off-grid solutions
4:50 – 9:00 Upgrading the grid
9:01 – 11:44 Smaller data centers
Produced by: Jeffrey Kopp
Senior Director of Video: Jeniece Pettitt
Tech Correspondent: MacKenzie Sigalos
Edited by: Erin Black, Matt Soto
Camera: Donny Rowles
Animation: Jason Reginato, Emily Park
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About CNBC: From ‘Wall Street’ to ‘Main Street’ to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more.
Want to get ahead at work? Then you need to learn how to make effective small talk. In CNBC’s new online course, How To Talk To People At Work, expert instructors teach you how to use everyday conversation to gain visibility, build meaningful relationships and advance your career. Sign up now: https://cnb.cx/4sGlSkh
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The Race To Power AI Is Reshaping America’s Electric Grid
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@anhnguyenhong8770
December 19, 2023 at 7:55 am
Bon toi vua chot: co khoang 10,000 human aliens song tai Saigon. Luong 10,000-15,000 USD/month. Done.
@anhnguyenhong8770
December 19, 2023 at 7:55 am
Dang le toi nen nhan lam nam 2007 cho cong ty Chung khoan. Luong thap nhung co cac co hoi khac. Toi da co quyet dinh luc do lam Xuat nhap khau, vi vay da lo co hoi, cham tre toi gio nay. Dang noi that.
@anhnguyenhong8770
December 19, 2023 at 7:55 am
Ok. Neu vay Vo Van Thuong hien tai la fake, con Ho Chi Minh. Da phau thuat tham my. Dead. Fair.
@anhnguyenhong8770
December 19, 2023 at 7:55 am
Nghia la Vo Van Thuong con Vo Van Kiet da chet roi? Real one da chet?
@chasjeffii
December 19, 2023 at 7:55 am
The system needs to be revamped; it still has very discriminatory flaws
@Saint.Moogle
December 19, 2023 at 7:55 am
…. Alternatives outside of credit cards that facilitate contact less payment do exist and are used to day in other countries, like QR Codes via Wechat Or Alipay for example.
@perryreasch1209
December 19, 2023 at 7:55 am
PONSIE SCAM LIKE ALL BANKS AND FINANCE
@merlinxtc
December 19, 2023 at 7:55 am
Retailers complaining like they actually aren’t passing on their fees to the consumers
@viewerpet12
December 19, 2023 at 7:55 am
bs
@OLgoods
December 19, 2023 at 7:55 am
Blockchain is the future.
@SelectorSam
December 19, 2023 at 7:55 am
Switch to crypto.
@anhnguyenhong8770
December 19, 2023 at 7:55 am
Bon may khong tra ngay la tao lam loss, cat lo nua. Ngay.
@anhnguyenhong8770
December 19, 2023 at 7:55 am
Nhu vay toi vua chot duoc loi nhuan khoan Dau Tu hoi lau ROI va profit la 490 Trieu USD. Giao credit cards ngay.
@anhnguyenhong8770
December 19, 2023 at 7:55 am
Duoi human aliens.
@anhnguyenhong8770
December 19, 2023 at 7:55 am
Bon may khong giao cards nen tao buon tao lam loss. Giao cards ngay.
@fortgrove3166
December 19, 2023 at 7:55 am
Racism, racism, racism but embrace diversity lol. I am from the hood and have a 810 credit score. I went through financial education when I didn’t manage my finances many decades ago. Stop blaming everything on racism.
@zacharyjohnson2928
December 19, 2023 at 7:55 am
Cool ad for American Express CNBC.
@cream0502
December 19, 2023 at 7:55 am
THE ALGORITHM IS BUILT TO KEEP THE LESS FORTUNATE FROM BEING SUCCESSFUL. FICO SCORE CAN DETERMINE JOB AND HOUSING, B.S.
@TonyFarley-gi2cv
December 19, 2023 at 7:55 am
We'll see it's only always affected the majority of the masses because we've had to accepted rotation with we're just a justify by changing our administration and our name and will employ you over so which is ultimately took out her credit response to our jails and to acceptance development to other things so what I think we did was we turned if you're going to rotate that direction and taxes or development era is going to start to come from administration to approval it's going to stay in administration's credit response to their growth
@chasemoray425
December 19, 2023 at 7:55 am
I love when losers complain about a company doing better than their competitors 😂
@user-wx9nt1fv9z
December 19, 2023 at 7:55 am
Oh no some company see the pain that they getting by visa.
@stheworldturns
December 19, 2023 at 7:55 am
Useless middle man collecting fees for no reason.
@anhnguyenhong8770
December 19, 2023 at 7:55 am
Nhung do la Hedge, Quan trong la entry/exit points phai tot. Vi vay phai hoc.
@anhnguyenhong8770
December 19, 2023 at 7:55 am
Cleared roi. Giao credit cards ngay.
@anhnguyenhong8770
December 19, 2023 at 7:55 am
An cap an cuop tien banks? Tra loi: khong du chuan vay tien nhung van lay duic tien nhu vay. Goi la an cuop. That.
@anhnguyenhong8770
December 19, 2023 at 7:55 am
Nhu thay Hieu – dai hoc kinh te luc truoc la Thay toi. Bay gio lai khac roi.
@anhnguyenhong8770
December 19, 2023 at 7:55 am
Ngay. Giao cards ngay.
@anhnguyenhong8770
December 19, 2023 at 7:55 am
Canh cao China, Hongkong. Rut ngay.
@anhnguyenhong8770
December 19, 2023 at 7:55 am
Xi, Trong bi tu chung than nghia la cac ong khac thay. The xong. Cong chung ho phai biet nhu vay.
@anhnguyenhong8770
December 19, 2023 at 7:55 am
Mr. Hoa bank – thuoc dang lanh dao bank cao cap, dang kho khan toi hoi ngac nhien. Luc toi ra Phu Yen thi ban lai car toi Airport don toi nen toi thay ban hoi lao nhung cung duoc.
@anhnguyenhong8770
December 19, 2023 at 7:55 am
Hoa bank – kinh te chuyen nganh tinh no hoi lao nhung cung choi duoc.
@anhnguyenhong8770
December 19, 2023 at 7:55 am
Ok Truc – kinh te chuyen nganh. The xong.
@anhnguyenhong8770
December 19, 2023 at 7:55 am
Ok Hoa – kinh te chuyen nganh. Lanh dao Bank in Saigon. Giup vay duoc roi.
@mryashc
December 19, 2023 at 7:55 am
This business model was from the times when computing and communication had a price tag. But today they are ubiquitous and almost freely available
@anhnguyenhong8770
December 19, 2023 at 7:55 am
White aliens girls bon em ve dep Tu nhien, khong tham my. Tuy nhien da du ROI. The xong.
@jpzhang8290
December 19, 2023 at 7:55 am
https://youtu.be/oue5A-7Hpx4?si=3fiJChGPzvsEtAhG&t=2867 Yo, you forgot to write the title and name
@peterhicks5590
December 19, 2023 at 7:55 am
If you banked at Barclays bank they don't work ,then they are closing hundreds of their branches and related building society branches .
Me I'm closing my accounts and have gone elsewhere.
They just sent letters out blaming the public because banking online is doing so well ,Just not in my case and tens of thousands of others.
Remember Northern Rock . With the new stress tests and a UK financial out for the next 2 yers to be flat at best me thinks there is a storm coming !
@anhnguyenhong8770
December 19, 2023 at 7:55 am
Do ho khong doc? Vi 2017-2018 toi da noi ve ban than toi rat nhieu lan: "Da chuyen Toan lai con Gioi Van". Kiem tra biet ngay. Do bon ong tao lam mat thoi gian. Dang noi that.
@anhnguyenhong8770
December 19, 2023 at 7:55 am
Tong tien nhung rat mau me. Chi don gian tra tien cho toi va toi se ky ngay.
@anhnguyenhong8770
December 19, 2023 at 7:55 am
Neu may giu tai san tao, thi may thua. Tao dang noi dung. Vi tao deo lam. That.
@anhnguyenhong8770
December 19, 2023 at 7:55 am
Vi bon may kiem 40-42 billion mot nam la hon tai san cua tao roi. Aliens bon may rat dot.
@anhnguyenhong8770
December 19, 2023 at 7:55 am
Tong tien nhung hoi dot. May phai tra tien. Ngay.
@anhnguyenhong8770
December 19, 2023 at 7:55 am
Aliens tong Tien toi, nhung phai tra Tien. Ngay.
@anhnguyenhong8770
December 19, 2023 at 7:55 am
Neu moi ngay lam viec loi nhuan 30 Trieu – 50 Trieu USD co nghia la annual return 7-10%. Nhu vay bon ong khong song noi. That.
@anhnguyenhong8770
December 19, 2023 at 7:55 am
Dac nhiem mien Nam bi bon Hanoi no pha, vi vay toi can He thong Bank rieng xua Chinh quyen Mien Nam. The.
@anhnguyenhong8770
December 19, 2023 at 7:55 am
Tien 100 million usd nhu vay chuyen nguoc ve Chicago. Khong co tien o Mien Nam xho den khi Chinh phu Mien Nam duoc thanh lap, dung He thong Bank Mien Nam rieng. The xong.