The turmoil in the markets makes it too easy to justify selling any stock these days. Yet while panic never helps investors, it's still a good idea to play devil's advocate with investments.

Consider credit and debit enabler Visa (NYSE:V). Though the plastic-transaction market is showing some positive signs lately, you'll find more than a few of the 4,392 Motley Fool CAPS members who have weighed in on the company offering reasons to be bearish.

At The Motley Fool, we like to consider both the good and bad sides of an investment. Here, I've highlighted three of the main bearish arguments on Visa. Be sure to read the bullish side as well, and then weigh in with your own comments below or rate Visa in CAPS.                                             

1. Wallets still tight
Still coping with the economic fallout, consumers aren't freely spending just yet. Overall retail sales are still facing pressure as stores such as Sears Holdings (NASDAQ:SHLD) struggle with performance. Holding detailed transaction data, Visa sees it all happening in real time, and it recently forecast that consumer spending will continue to remain tight for at least the rest of 2009.

2. Fees under pressure
Interchange fees have been under pressure from merchants and Congress lately, and they could potentially be modified if certain members of Congress have their way. The fees are paid by retailers and merchants such as Best Buy (NYSE:BBY) to payment-card issuers such as Citigroup (NYSE:C), Bank of America (NYSE:BAC), and Capital One (NYSE:COF), who in turn pay Visa or MasterCard (NYSE:MA). Investors fear that lower fees will have a detrimental effect on Visa's top line.

3. Overpriced
Many CAPS members think Visa's shares are trading at too high a premium today. The company has a strong business, with investors expecting strong earnings growth in the years ahead, but current prices for shares already fully reflect this thinking. Many still see a lot of uncertainty in just how the economy will progress from here. And with few signs of a recovery in the credit card industry, strong returns may be difficult to come by at today's prices.

To see details of what CAPS members are saying now about Visa, just head on over to Motley Fool CAPS and have a look -- or add your own thoughts in the comments box below.

The Motley Fool Stock Advisor service looks for companies with strong management poised to beat the market over the long haul. To see all the stocks that have helped Tom and David Gardner beat the market by 47 points on average, take a free 30-day trial.

Fool contributor Dave Mock votes for "three" to be the number of the day. He owns no shares of companies mentioned here. Best Buy is a Stock Advisor recommendation. Best Buy and Sears Holdings are Inside Value selections. The Fool owns shares of Best Buy. The Fool's disclosure policy was on the IOC selection committee but will not reveal its votes.