Historical background of discover card:
Morgan Stanley Dean Witter & Co. has introduced discover financial services in September 13, 1999 which has currently launched new advertising campaign for the diverse kinds of discover credit card. The campaign was featured with the motto, "There's Always Something More to Discover,” inspiring the consumers to choose one of the specific kind of discover card. This tagline though is good representative of discover card‘s all-inclusive packages of profitability which has been replaced with this tagline, "It Pays To Discover".
Such slogans or taglines of the advertising campaign have fused new compelling spirit among the customers to submit discover credit card application for the membership of Discover Financial Services, Inc. Primarily the discover card was launched by Sears in 1985, and then owned by Dean Witter and again shifted ownership to Morgan Stanley, until 2007 when Discover Financial Services was established as the independent company rather than the joint ventures of different entrepreneurs and retailers.
Significance of Discover Financial Services:
Discover Financial Services of Morgan Stanley Dean Witter & Co. has been operating all discover card brands ‘ s business network, having almost 50 million card holders in all over the world. In other words, you may say that Discover Business Services is one of the leading independent credit cards corporations in US, comprising with approximately 3.6 million merchant and cash access regional offices in all parts of the world. Discover Card is one of the fourth largest credit card brands, operating basically in the United States. Now Discover Bank has joint venture with Discover brand to issue the discover cards though all transactions are proceeded via discover payment network. The Pulse automatic teller machine (ATM) network recently operates more than 4,500 credit unions, finance savings institutions and banks.
Popularity and reliability of discover card:
a) Discover cards have been gaining immense popularity among the consumers due to extra beneficial rewards and cash back guarantees.
b) The consumers are much interested to get discover cards due to the additional benefits of almost 5% cash discounts for the purchases at merchant share holders of Get More Purchase program with the incentive of double worth of cash rebates.
c) In this way you can earn unlimited rebates by applying for discover cards when you exchange with the merchants partner gift certificates.
d) Discover Financial Services has additional benefits along with the reward program which is a great factor to enhance its popularity e.g. online account management, extra rebates or discounts on purchasing different products or services of the merchants and retailers, protective measures against any credit card fraud or identity theft and unauthorized transactions without any accountability legally.
e) It is notable that the highest discounted rates are not applicable to all purchases like all other cash reward cards but only 1% is applied only on the purchases of almost $3,000 annual expenditure of the cardholders.
f) The credit card companies have been offering very attractive and competitive packages due to the numerous competitors in the market of credit card. That’s why discover financial services has introduced a lot of beneficial rewards, bonuses and rebates for the consumers to survive in the competitive atmosphere easily.
g) Discover financial services offer education aids programs for the students, introducing the different kinds of scholarship program for the bright students. The discover card brand is rewarding the students due to their extraordinary talents and excellent educational progress.
h) All scholarship programs of discover card services are very feasible for the students who may use them at any college, school or university and any vocational institute easily with the perfect accommodation of such funds for getting quality education.
