Discover has announced the launch of ItPaystoDiscover.com, a new web site that describes all the ways Discover's cardmembers can get the most value from their Cashback Bonus rewards. READ MORE »

Discover has launched a new Discover Mobile iPhone application - now available as a free download from the iTunes App Store. The app allows a Discover cardholder to view account summary including current balance, etc., make a Discover card account payment, view recent transactions and rewards activity, and enroll in rewards programs.

Discover has announced a variety of ways that "Discover Cardmembers can take advantage of extra cash rewards when shopping this holiday season, including the opportunity to earn Double Cashback Bonus on all online purchases, as well as at department stores, jewelry and apparel retailers." READ MORE »

The Discover U.S. Spending Monitor rose for the second straight month, climbing 2 points in September to 89 (based out of 100). The rise in the Monitor’s index is mostly attributed to improved economic sentiment in September. In all, 33 percent of U.S. consumers feel economic conditions are improving, a Monitor high and 2-point increase from August. In September, consumers felt a little better about their personal finances as well. Thirty-three percent rated their finances as good, or excellent, the highest in four months and up a point from August. READ MORE »

Diners Club International Ltd., a business unit of Discover, and Elavon, a wholly-owned subsidiary of U.S. Bancorp, have announced the signing of a merchant acquiring agreement. Under the terms of the agreement, Elavon will add Diners Club card acceptance to its portfolio of payment processing services. This relationship will create more acceptance opportunities for Diners Club and Discover cardmembers, who eventually will be able to use their cards at Elavon merchants in the U.K. and western Europe. READ MORE »

Discover Financial Services has reported financial results for its third quarter 2009. Discover reported that Discover Card sales volume declined 7% from the prior year to $23 billion but increased 6% from the prior quarter. Managed loans of $51 billion were relatively unchanged from the prior quarter. The third-quarter managed net charge-off rate rose to 8.39%, up 319 basis points and 60 basis points from the prior year and the prior quarter respectively.

PULSE, the Discover Financial Services business unit responsible for expanding global cash access for the company, has signed a long-term ATM acquiring agreement with TRIONIS, a European interbank processing network. TRIONIS is jointly owned by retail banks from nine European countries, the European Savings Banks Group, and First Data. READ MORE »

Discover has announced it has launched a new series of advertisements "that celebrates cardmembers and highlights what they “get back” from their Cashback Bonus – both literally and emotionally. The new ads are intended to portray the sense of optimism that many of our cardmembers seek, the everyday things that make them happy, as well as Discover’s cash rewards leadership." READ MORE »

In an article titled "Law Hits Home as Cards Opt Out of Overlimit Fees", Maria Aspan writes for the American Banker that American Express and Discover are both "eliminating overlimit fees on consumer credit cards, in one of the first concrete examples of how a new law will restrict issuers' abilities to turn a profit."

The Discover U.S. Spending Monitor fell for the second consecutive month from 85.6 to 83.5 (based out of 100), as consumer attitudes towards the economy and the current state of their personal finances continued to deteriorate. Overall, 61 percent rated current economic conditions as poor, a 2-point increase from the previous month. READ MORE »

DIscover reports that "economic confidence among small business owners rose for the second consecutive month, although concerns about being able to pay their bills jumped significantly in July as measured by the latest Discover Small Business Watch. The index rose to 82.1, up from 80.9 in June."

But the details of the report indicate small business owners are "cranky" about a number of issues! For example, "Cash flow concerns in July hit the highest level in the Watch’s three-year existence. More than half of small business owners, 53 percent, say that in the past 90 days they have encountered temporary cash flow issues that caused them to hold off on paying some bills, up from 42 percent in June."

They also strongly oppose proposals making healthcare for employees mandatory and more disapprove than approve of Obama's handling of the US economy. READ MORE »

Discover has announced that its U.S. Spending Monitor fell for the first time in four months from 86.2 to 85.6 (based out of 100) finding that "consumer attitudes toward the economy reversed course from the previous three months with more consumers expressing concern over the current state of the U.S. economy. Overall, 59 percent rated current economic conditions as poor, a 4-point increase from the previous month and the first increase since February." READ MORE »

Economic confidence among small business owners rose slightly in June as cash flow concerns abated and the mood on the economy held steady, according to the latest Discover Small Business Watch. The monthly index rose to 80.9, up from 78.1 in May.

“Cash flow problems are back to levels that are more in line with what we’ve typically seen since the Watch began nearly three years ago,” said Ryan Scully, director of Discover's business credit card. “Cash flow concerns usually erode confidence because they represent something tangible to a business owner, more so than an expectation or perception about the economy.” READ MORE »

Discover Financial Services has reported results for its second quarter ending May 31, 2009. According to Discover, US sales volume decreased 4% versus the second quarter of 2008, reflecting lower gas prices and a general decline in consumer spending. Managed loans ended the quarter at $51 billion, essentially unchanged from the prior quarter and up 7% from the prior year. The managed net charge-off rate increased to 7.79% for the second quarter of 2009, up 131 basis points and 280 basis points from the prior quarter and the prior year, respectively. The managed net charge-off rate for the third quarter of 2009 is expected to be between 8.5% and 9%.

“While the rise in unemployment continued to have a significant impact on our financial results, I am pleased with our strong relative performance in both credit management and sales volumes,” said David Nelms, chairman and chief executive officer of Discover Financial Services. “We continue to focus on reducing expenses and maintaining a strong capital position as we manage through these challenging times.”

Discover Financial Services has announced the launch of Mobile Reminders -"designed to help cardmembers stay on top of their accounts and help manage debt better. This new service allows cardmembers to have more control over their finances and easier access to their Discover® Card accounts. Discover.com registered users can log in and select to receive any of eight Account Activity reminders via text (SMS) message or email. The Mobile Reminders provide cardmembers with important account information that is sent directly to their mobile device." READ MORE »

After reaching its highest level in 14 months, the economic confidence among small business owners fell in May as owners reported cash flow concerns and expect to cut back on business development spending, according to the latest Discover Small Business Watch. The monthly index dropped more than 10 points to 78.1, down from 88.5 in April. READ MORE »

Economic confidence among small business owners rose to its highest level in 14 months in April as more of them see the broader economy and the conditions for their own businesses improving, according to the latest Discover Small Business Watch. The monthly index increased more than 10 points, rising to 88.5, up from 78.2 in March and the highest since the Watch hit 90.8 in February 2008. April’s mark represents the third consecutive monthly increase in economic confidence among small business owners. READ MORE »

Diners Club International, a business unit of Discover Financial Services, in conjunction with Discover, and SIX Multipay, a leading Swiss-based payment services provider, have announced that they have signed a long-term merchant acquiring agreement. This is the first multi-country, acquirer agreement to further European acceptance of Diners Club and Discover Network cards. READ MORE »

Discover Financial Services has reported its financial results for the fiscal quarter ending Feb. 28, 2009. Managed loans of $51 billion were essentially unchanged from the prior quarter and up 7% from the prior year; Discover Card sales volume declined 8% from the prior year to $21 billion. Total company expenses were down 7% from the prior year.

In today's Deal of the Day column on SmartMoney.com, Lisa Scherzer writes about "The Pitfalls of Prepaid Cards" - noting that "Prepaid cards may not come with the sky high late-payment fees or APRs of traditional credit cards, but they do carry a slew of other charges." She goes on to recommend four network-branded prepaid cards "whose fees are a little more palatable than others" - including two from MetaBank, the Wal-Mart Money Card issued by GE Money, and the new Current Debit Card by Discover.

Discover Financial Services has announced the launch of Current by Discover Card - calling it "an innovative debit card for teens that helps them track and manage their spending and keep their money safe. The card also helps parents foster financial responsibility in teens, which is especially critical in today’s economy." READ MORE »

Discover Financial Services has announced the addition of Cynthia A. Glassman and Richard H. Lenny to the company’s Board of Directors. READ MORE »

Economic confidence among the nation’s 22 million small business owners remained flat in February, gaining only a half-point over the previous month in the latest Discover Small Business Watch. The monthly index rose to 71.9 in February from 71.4 in January. READ MORE »

A group of credit card issuers and payments networks (Bank of America, Capital One, Citi and Discover Card along with MasterCard and Visa) have introduced Help With My Credit, a resource to assist and educate consumers struggling to make their credit card payments.

According to a press release issued late Tuesday, "Help With My Credit invites consumers to call a toll-free telephone number (1-866-941-1030) where operators will provide them with information about speaking with customer service representatives within participating credit card issuers or to accredited credit counseling agencies, depending on the individual’s situation and needs."

Consumers can also visit a new Web site, http://www.HelpWithMyCredit.org, which provides consumers information on how to manage credit cards and better communicate with their credit card companies, and how to identify and speak with an accredited credit counselor. READ MORE »

In an article titled "Discover Hoping a Light Touch on Cuts Pays Off", Maria Aspan writes for the American Banker about Discover - and how it has been pursuing a different strategy than other US credit card issuers with respect to cutting credit lines, raising interest rates, etc. Aspan quotes Discover EVP Harit Talwar as saying that the card issuer's "top priority is emphasizing a "consumer-friendly" strategy in the midst of issuer cutbacks. Discover is hoping the contrast helps win more business from its current cardholders."

After a brief rebound in December, economic confidence among small business owners dipped in January as fewer owners plan to increase spending for business development. The Discover Small Business Watch index fell to 71.4 in January, down 1.4 points from December. READ MORE »

In an 8-K filing with the SEC, Discover Financial Services reported that it has received preliminary approval from the U.S. Department of the Treasury to participate in the U.S. Treasury's Capital Purchase Program. "In connection with participating in the Program, the Company intends to become a bank holding company under the Bank Holding Company Act of 1956 and a financial holding company under the Gramm-Leach-Bliley Act. As previously announced, the Company's application to become a bank holding company was approved by the U.S. Federal Reserve on December 19, 2008."

Discover Financial Services has announced it is rolling out an enhancement to its Discover Information Security and Compliance (DISC) program that the company says "will streamline the validation and reporting process, making it easier for merchants that process transactions on the Discover Network to communicate their compliance with the PCI Data Security Standard (DSS)." READ MORE »

Discover Card has announced the launch of a mobile solution for its cardmembers at Discover.com Mobile. This mobile version of the Discover Card Web site will allow cardmembers to manage their credit card account directly from their mobile phone’s browser. READ MORE »

The Discover U.S. Spending Monitor fell for the fourth consecutive month in December, declining more than three points to a new low of 76.6 (based out of 100). Both components of the monthly spending index – consumer confidence in the U.S. economy and consumer spending intent – reached new lows during the month, as concerns about the economy may be weighing on post-holiday spending plans. READ MORE »