Visa (V) - Get Report the San Francisco-based credit card giant is "the best in show right now in the credit card space," says TheStreet's Jim Cramer.

Cramer expects Visa CEO Charles W. Scharf to "tell a fantastic story" on the company's second-quarter 2016 earnings call Thursday evening as Visa Europe continues to perform well and as Costco's credit cards shift to Visa. It is "big," Cramer says.

Visa reported a GAAP net income, inclusive of noncash, nonoperating income related to an adjustment in the company's fair value of its Visa Europe put option of $1.9 billion, or $0.80 per share, for first-quarter 2016. The company also had a net operating revenue of $3.6 billion for the quarter.  

The American Express (AXP) - Get Report competitor acquired London-based partner Visa Europe Ltd. in a cash-and-stock deal valued at $18.2 billion in November. At the time of the announcement, Scharf said in a statement that the combination would strengthen Visa's payments system in Europe and provide "even greater financial resources to invest in technology assets."

TST Recommends

Visa has already launched new mobile payment partnerships, platforms and products, including support for digital wallets and wearables, and made strategic investments in other systems.

With Visa replacing American Express on Costco credit cards in June, Visa has plenty to look forward to.

SunTrust Robinson Humphrey analyst Andrew Jeffrey clearly agrees, given the raise of the company's price target to $100 from $85, while maintaining a buy rating on the stock.

The company is trading at around $81.05 in the early afternoon, just a touch below its 52-week high of $81.73. Visa shares are up 3.63% year to date.

Visa is a holding in Jim Cramer’s Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells V? Learn more now.