Bank 1 credit card

Discover Card is a credit card issued primarily in the United States, with 50 million cardholders. The Discover Card was originally introduced by Sears in 1985, and is today operated as a subsidiary of Morgan Stanley. Discover is headquartered in Riverwoods, Illinois.

Most cards with the Discover Card brand are issued by Discover Bank, which also offers savings products and home loans. Discover Card transactions are processed through the Discover Network payment network. As of February 2006, Discover Debit cards are now capable of being supported on the Discover Network, powered by PULSE, which Discover acquired in 2004. Competitive rates.

History

At the time the Discover Card was introduced, Sears was the largest retailer in the United States. It had purchased the Dean Witter Reynolds Organization (brokerage) and Coldwell, Banker & Company (real estate) in 1981, as an attempt to add financial services to its portfolio of customer services. Together with the Discover Card, this was named the "Sears Financial Network. " Early Discover Cards bore a small embossed symbol representing the Sears Tower, the company's headquarters at the time.

Unlike other attempts at creating a credit card to rival MasterCard and VISA, such as Citibank's Choice card, which was introduced at the same time as the Discover Card but reissued as a Visa card in late 1987, the Discover Card quickly gained a large national consumer base. Welcome.