Advantage of Discover Cards

The advantage of using Discover credit cards

In the United States, the Discover Card is considered a major card, which actually isn’t a rival of Visa or Mastercard. One of the major advantages of having one inside your wallet is the cashback offer that comes with it whenever you make any transaction with their merchants.

Back in 1985 when Sears started the Discover credit card, a large consumer base quickly adopted the credit system since at that time, the annual fee was waived, a practice that is pretty much uncommon those days. Along with the free membership is the high credit limit that is offered to the cardholders. The same credit card was also the only one recognized by the US Customs for payment of customs duties.

Now, as if those weren’t enough to attract a lot of customers, they also packaged a Cashback bonus, which is sort of a percentage rebate every time you use the credit card. The original offer was at 2% but the ongoing rate these days is 5%. The bonus amount depends on the amount spent using the card.

With hopes of riding the wave of this card’s popularity, Sears attempted to make payments exclusive to Discover but the competition with Walmart and other retails stores are Toys R Us became very stiff that they had to re-open up to Visa and Mastercard. The financial service company inside Sears that handled this card eventually spun-off as an independent company.

Discover has since then acquired over 50 million members and the merchant network has extended to over 4 million across the US. It still is neither issued nor accepted outside the country but there are locations in Canada where this American card could be used. UK is still closed to using the card but the bases are slowly moving into other locations like Mexico.

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