Discover Card

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Discover is a major US credit card brand. It was created by Sears in 1985 and today is issued by Capital One. It stood out early for having no annual fee and often offering higher credit limits, plus a Cashback Bonus on many purchases. Most Discover cards are issued by Discover Bank (formerly Greenwood Trust Company), and transactions are processed through the Discover Network.

In 2005 Discover bought Pulse, a payments network, which let Discover market and issue debit and ATM cards. By 2006, Discover began offering debit cards through other financial institutions. Discover is now the third-largest US card brand, with about 60 million cardholders (roughly 8% of all cards). Visa and Mastercard have larger shares, but Discover remains a significant player.

Origins and ownership have changed over time. Sears created Discover as part of its Sears Financial Network to add financial services. The card was issued by Greenwood Trust. Discover became part of Dean Witter, then Morgan Stanley, and in 2007 Discover Financial Services became independent. Greenwood Trust became Discover Bank in 2000. In 2025, Capital One announced it would acquire Discover Financial Services in an all-stock deal, and the acquisition was completed, making the combined company the largest US credit card issuer.

Discover is accepted in about 185 countries. It has formed partnerships to improve global acceptance, allowing Discover cardholders to use their cards abroad and other-issuer cards to use Discover in the US. Walmart historically relied on Discover and later shifted to Mastercard in 2014. Discover has worked with issuers like HSBC (through Metris) to grow its network.

Regulatory and legal matters include a 2012 settlement over deceptive telemarketing practices. In 2025, merchants agreed to a settlement related to fraud costs, with Discover contributing a portion. Discover has also sponsored events and organizations, such as the NHL since 2008, and had a naming-rights partnership with Discover Mills Mall in Georgia from 2001 to 2012. In 2024, actress Jennifer Coolidge appeared in Discover ads.