Discover Card

The Discover Card is a credit card that is issued almost exclusively in the United States of Discover Financial Services. There are about 50 million cardholders. The Discover Card was originally introduced by Sears in 1985 in the market, but nowadays Discover is led by Morgan Stanley. The Discover is headquartered in Riverwoods, Illinois.

The most Discover cards are issued by the Discover Bank, the payment process but is carried out by the Discover Network. Since February 2006, a Discover debit card is also issued and accepted.

History

In the time when the Sears Discover Card brought to the market, Sears was the largest retailer in the United States.

The Discover Card could then establish as good as it, the better price-performance ratio offered over their competitors, especially MasterCard and Visa. So they had no annual standing charge, offered a comparatively high credit limit and site of the first credit card a bonus program. Also, you could pay in Sears stores in addition to cash only with the Discover Card.

Since Sears was always greater competition (eg Wal -Mart ), they eventually had to accept other credit cards such as MasterCard and VISA. The crisis came to a head at Sears until they sold their finance division in 1993.

Buyers were Dean Witter Financial Services, which in turn were bought in 1997 by Morgan Stanley.

Acceptance

While there are over 50 million cardholders and more than four million merchants that accept the Discover Card, but outside of the United States, there is with the exception of Mexico almost no acceptance. On the basis of membership in the Pulse network the card is still accepted in almost any ATM worldwide.

Others

The mother of the Discover Card, Discover Financial Services, the UK is a MasterCard out under the name of Morgan Stanley.